Bootjack Ranch

The Classicist: Rash of New World Records Says "The Rich Are Back"

Filed under: Estates, Timepieces / Watches, Luxury Cars & Autos, Auctions, Art, The Classicist, Wealth

Following an incredible number of record-breaking sales of some of the world's most expensive items, from cars to art to watches, diamonds and estates, that have taken place just in the past two weeks, we are hereby making an official declaration: The Rich Are Back. While the economic recovery has been slow to materialize in some quarters, those with the money to make multimillion-dollar purchases are suddenly not shy about dropping the coin. The megabucks deals mean an optimistic outlook has finally taken a firm hold, and the wealthy no longer feel the need to pinch their pennies in the fear that more hard times could be lurking right around the corner. We say it's about time too.

In one hectic twelve-day period, from May 3 to May 14, we saw the record-breaking sales of a $106 million Picasso painting; a $50 million mansion in Bel-Air; a $46 million ranch in Colorado; a $40 million Bugatti; a $32 million Warhol self-portrait; a $26 million Jasper Johns painting; an $18 million Ferrari; an $8 million blue diamond; and a $5 million Patek Philippe chronograph – about $330 million worth of the world's most expensive possessions. The astonishing sales have given an immediate boost to the art, classic cars, real estate and collector's timepieces markets, many of which faltered in the wake of the economic downturn, losing billions of dollars in value. Here's a rundown of the nine history-making deals as they unfolded over the twelve-day whirlwind of wealth disbursement; see the gallery for images:

Gallery: The Return of the Rich

Picasso, <i>Nude, Green Leaves, and Bust</i>

Tags: Andy Warhol, art, auction, Bel-Air, Bootjack Ranch, Bugatti, Chris Evans, Christies, chronograph, classic cars, Colorado, contemporary art, diamond, estates, Ferrari, Ferrari 250 GTO, Jasper Johns, Michael Crichton, Pablo Picasso, Patek Philippe, Picasso, ranch, real estate, The Rich, world record, worlds most expensive

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Bootjack Ranch Finally Finds A New Owner

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Luxist reader Stephen led me to a Wall Street Journal article detailing the sale of one of our favorite estate of the day properties. Coloado's Bootjack Ranch was listed for $88 million in 2008 but it has sold to Texas energy billionaire Kelcy Warren for $46.5 million. The transaction is believed to be the highest amount paid for a property this year.

Bootjack Ranch is a roughly 3,500-acre ranch near Pagosa Springs, Colorado. The ranch is located in the southern San Juan Mountains and ranges over acres of meadows, forests, lakes and streams. The main house is a 13,800 square foot residence made of rustic logs, timber and stone. The home is decorated in classic Western luxe including a dining room fixture shaped like a canoe and fireplace screens that feature the ranch brand.

The property includes multiple guest cabins, a separate lodge, offices and manager's housing that can accommodate over 50 guests. The most extravagant feature on this property is the 12,000 square foot spa and aquatic center that seems more like a resort pool than one for private use. The ranch is a private residence but has also hosted concerts sponsored by Music in the Mountains and is a retreat for missionaries and business leaders.

Gallery: Bootjack Ranch

Tags: bootjack ranch, colorado real estate, colorado rockies, estate of the day

BootJack Ranch, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

BootJack Ranch is one of of the most expensive ranches we've seen in the Rocky Mountains of Colorado. This ranch is located in the southern San Juan Mountains and ranges over 3,100 acres of meadows, forests, lakes and streams. The main house is a 13,800 square foot residence made of rustic logs, timber and stone. The home is decorated in classic Western luxe with including a dining room fixture shaped like a canoe and fireplace screens that feature the ranch brand.

The property includes multiple guest cabins, a separate lodge, offices and manager's housing that can accommodate over 50 guests. The most extravagant feature on this property is the 12,000 square foot spa and aquatic center that seems more like a resort pool than one for private use. The ranch is a private residence but has also hosted concerts sponsored by Music in the Mountains and is a retreat for missionaries and business leaders. This amazing expanse is listed at $88 million.

UPDATE: This property is now listed at $68 million.

Gallery: Bootjack Ranch

Tags: bootjack ranch, BootjackRanch, estate of the day, luxury real estate, LuxuryRealEstate, pagosa springs

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