A Day at the Kluge Winery and Vineyard

Last week’s auction of the Kluge Winery and Vineyard in Charlottesville, Va., was an exciting event, to say the least. Last Thursday afternoon, the property sold for just over $8 million with 23 registered bidders from six states and two countries in attendance. The winery was formerly owned by Patricia Kluge, who was once married to John Kluge, the richest man in America during their marriage. Though the winery never quite performed like Ms. Kluge had hoped, it was known for having excellent Virginia wine and even provided the wine for Chelsea Clinton’s wedding.

After hitting some hard times, this 906-acre property with 164 acres of vineyards and a complete winery and bottling line, was sold to two bidders. Donald Trump bought the majority of the winery, while a long-time J. P. King buyer, Sal Cangiano, competed heavily with Mr. Trump and ended up with the remaining property, consisting of 92 acres of conservation property, a 21-acre development site and the former wine tasting room. Mr. Trump left with the winery, vineyard and Mr. Kluge’s wine label and trademarks.

The rumor is that Mr. Trump is considering his own wine label, which, with the strong Trump brand, seems like a good idea.

I enjoyed being a part of this auction. The Kluge Winery and Vineyard is a beautiful and unique property with a great history. The auction itself just goes to show that quality properties will still attract strong qualified bidders if it is properly marketed, not to mention that it takes the guesswork out of how to price these unique and valuable properties. I’ll be keeping a close eye on how Mr. Trump plans to use his investment.

How do you think Mr. Trump should use his new property?

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~ by Craig King on April 11, 2011.

2 Responses to “A Day at the Kluge Winery and Vineyard”

  1. Well good to see that the money is still out there and people are still spending it. What an investment for Donald Trump, like mentioned in the article with his name and branding rights, if he marketed a new wine line, it will probably take off and be a very successful enterprise for him. Maybe he could spread some of this money around to us ordinary people who just love wine. Best of luck with your new investment, Donald Trump.

  2. Well good to see that the money is still out there and people are still spending it. What an investment for Donald Trump, like mentioned in the article with his name and branding rights, if he marketed a new wine line, it will probably take off and be a very successful enterprise for him. Maybe he could spread some of this money around to us ordinary people who just love wine. Best of luck with your new investment, Donald Trump.

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