Diocese of Gallup Brings in $161k from Auctions

KRQE
September 28, 2015

http://krqe.com/2015/09/28/diocese-of-gallup-brings-in-161k-from-auctions/


The Diocese of Gallup has walked away with less than $161,000 after selling nearly three dozen properties at auctions in Albuquerque and Phoenix.

The Gallup Independent reports that documents submitted by diocesan attorneys to the U.S. Bankruptcy Court say the sales total for both auctions was about $225,000. The two businesses hired by the diocese to promote and conduct the auctions earned about $65,500.

Most of the properties were sold for far less than their actual or assessed values. The highest sales price at the Phoenix auction was $26,000, and the remaining properties sold for between $110 and $7,700. Four properties at the Albuquerque auction sold for five-figure prices, and the others ranged from $121 to $4,400.

The diocese faces more than $2.7 million in costs related to its bankruptcy case.