NEWPORT — The North Newport estate of the late William B. Ruger Jr., was sold at auction on Saturday, but the name of buyer and the amount of the winning bid have not been made public.
Matt Marin, a senior account executive with the New York City public relations firm UpSpring PR, said in an email Sunday there were six bidders for the Ruger property at the auction, which was only opened to registered bidders.
Marin said the property was sold to a husband and wife, but their names and the selling price would remain confidential until the closing, which has to take place within 30 days.
Ruger’s Bar Harbor, Maine, property, where both auctions were held, had nine bidders and like Newport, the buyers were a husband and wife, Marin said.
Ruger’s North Newport home was auctioned with 100 acres. It was last listed for sale for $2.5 million.
Ruger, who died last September, bought the home built in 1880 by Austin Corbin and several surrounding buildings in 1988 for $135,000, according to Newport’s assessing records.
He spent millions renovating and improving the 7,500-square-foot home and buildings. The current assessment is $941,000.
The auction, conducted by Platinum Luxury Auctions, of Miami, stated there is a total of 110 acres on three contiguous parcels with a the main residence and several smaller buildings including a caretaker’s residence, a barn and workshop.
Registered bidders were required to present a $50,000 cashier’s check to bid and payment of 10% of the winning bid at the close of the auction.
Ruger’s Bar Harbor property called East of Eden includes a 15,000-square-foot home and about 1,000 feet of waterfront.
Patrick O’Grady can be reached at pogclmt@gmail.com.
