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George Dunklin the High Bidder in Auction of Arkansas, Jefferson County Land

2 min read

George Dunklin Jr. was the high bidder at a court-ordered auction of his family’s 15,881-acre farming and hunting holdings in Arkansas and Jefferson counties, sources tell Arkansas Business.

The farmland, timberland, reservoirs and Five Oaks Duck Lodge were auctioned for well north of the low-bar $50 million price expected. Some believe the property went for the full $75 million estimated value set in the pre-auction documentation.

“It went for a big number,” said a source who attended Tuesday’s auction at Five Oaks, which was closed to the press. The source declined to reveal a specific number, citing a confidentiality agreement that bidders were required to sign to participate in the auction.

The acreage was divided into seven tracts for bidding purposes, and Dunklin is identified as the high bidder for the whole package. The auction gathering was composed of lawyers, accountants and other bid representatives as well family members.

The transaction, expected to be completed within 30 days, will divide the conflicted interests of Dunklin and his older sister, Deborah Tipton of Memphis, in the M.E. Black Farms.

Their differences brewed into lawsuits and more than two years of litigation that culminated in U.S. District Judge Brian Miller ordering an auction to separate their financial interests.

Dunklin is national president of Ducks Unlimited and a member of the Arkansas Game & Fish Commission from 2005-12.

The 15,881 acres is divided into three categories: 9,450 acres of farmland, 5,058 acres of timberland and 1,373 acres of recreational land plus Five Oaks hunting lodge.

Some sources indicated that Dunklin might resell much of the property while retaining property associated with Five Oaks.

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