LITTLE ROCK, Ark. (KTHV) - Day One of the Osborne Auction.
The white homes along Cantrell Road in Little Rock owned by businessman and philanthropist Jennings Osborne were auctioned off Wednesday by Blackmon Auctions.
This is the beginning of a line of events that are designed to generate cash and pay back creditors.
The largest of the three homes, at 4 Robinwood Drive, was auctioned off at $265,000, while the other two were auctioned at $150,000 (3 Robinwood) and $195,000 (5 Robinwood).
Osborne's wife, Mitzi, described the day as emotional, seeing her family's homes up for sale.
"Actually it was like a kick in the gut, and somebody pulled the rug out at the same time," Osborne said. "Pretty sad. And [the homes] didn't go for very much money, that's what I don't understand. I mean they really got a sweet deal, all of them did. It had to be done. I just wish we could have gotten some more money for it. It would have really helped out."
Thomas Blackmon of Blackmon Auctions spoke about the Osborne's legacy of giving.
"The Osborne family has been a part of Arkansas for the past 30 years. They've done so much good in the community and helped people out. Of course this is a great opportunity for us too," Blackmon said.
Bahram Ghanaie bought the main residence. He represents the company: Building and Utility Contractors. They will discuss the future of the property on Sunday.
"Perhaps we use it, perhaps we sell it. I cannot say [anything] about that what he decides," Ghanaie said.
David McCall and his family drove up from Hot Springs and bought part of the library of books...books on everything from motorcyles to the Civil War.
"There are hundreds of books here so we really haven't had a chance to look through it. We're excited to own them," McCall said.
"We tried to give back, and you just keep giving till the good Lord stops giving to you. That's a no-brainer," Osborne added.
Friday begins the liquidation of thousands of personal items belonging to Jennings Osborne.
These items are being stored in a North Little Rock warehouse and feature everything from furniture to Disney and sports memorabilia.
Here's a schedule of where the next auctions will take place:
- Thursday, June 7, 10 a.m. and 11 a.m. (19400 Kanis Road, Little Rock)
- Friday, June 8 - 9 a.m. (4545 Bethany Road, North Little Rock)
- Saturday, June 9 - 9 a.m. (4545 Bethany Road, North Little Rock)
- Sunday, June 10 - 2 p.m. (131 Tanglewood, Hot Springs)