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How do you value a dazzling farm set in the Hunterdon Hills straddling the South Branch of the Raritan River? A farm with an exotic name that embodied one man’s dream? The home of internationally acclaimed champion Malabar Man of Hambletonian fame, 1997 Harness Horse of the Year, Three-Year-Old Colt Trotter of the Year, Trotter of the Year, Sire Stakes Horse of the Year, and New Jersey Standardbred of the Year; and Gleam, winner of the distaff Hambletonian Oaks?

Malvern Burroughs, the first amateur driver ever to win the Hambletonian and owner of Malabar Farm understood that his one-of-a-kind, internationally renowned horse property required a one-of-a-kind selling process. There were no ‘market comps’ for Malabar Farm. And a potential buyer was as likely to be found half-way around the world as in Hunterdon County or even New Jersey.

Mr. Burroughs turned to the Max Spann Auction Co., specialists in the auction of both one-of-a-kind and horse properties, in this case, one and the same.

The Spann Team worked hand in glove with Mr. Burroughs to prepare to auction Malabar Farm. Since a property sold at auction is sold ‘as is’, every available piece of information about Malabar Farm was assembled in a detailed ‘bidder’s package’ to facilitate pre-auction inspections as well as the post-auction closing.

They launched a global pre-auction campaign that targeted the local, regional and national market for prestigious properties as well as an overlay of the international equestrian community through ad placements in the Wall Street Journal, Plaid Horse, New York Times Magazine,Crain’s Business and other newspapers as well as on the Internet.

Seventeen bidders, including those from Europe and Asia gathered under the auction tent on a late June evening. One contending bidder had flown in from Arizona in his private jet, his certified check following by FedEx. Once again the Spann Team had brought buyers and seller together for the truest exercise in free market economics.

When the gavel came down, the very satisfied seller was assured of a quick and seamless closing; the exultant high bidder could begin establishing the family compound he envisioned at Malabar Farm. Another successful auction for seller, buyer, and the Spann Team.