Archdiocese of Santa Fe earns close to $1.7 million from second auction
The Archdiocese of Santa Fe made close to $1.7 million from its second online auction, an auctioneer’s representative said Friday.
Money from the auction will go to a potential settlement agreement with more than 400 victims of child sexual abuse perpetrated over decades by clergy members with ties to the archdiocese. No agreement has been reached and a third mediator has been brought in for negotiations.
The archdiocese filed for Chapter 11 bankruptcy more than three years ago.
Insurance companies are expected to pay a big chunk of any settlement reached. The archdiocese also is selling other properties and seeking contributions.
Louis B. Fisher III of SVN Auction Services said his company offered 86 packages of small properties. The auction ended Monday. SVN also held an online for the archdiocese last year, resulting in about $1.4 million.
“I think it’s a very good day for the archdiocese overall,” Fisher said Friday.
All the properties are vacant and were donated to the church by members, he said. The auctioneer bundled multiple properties in more than 15 New Mexico counties to form packages.
Fisher said 402 bidders registered for the online auction, which started Jan. 31. The bidders, from 17 states and Canada, placed 856 bids on 75 to 80 packages. A few of the 86 packages received no bids and will be distributed in a cleanup sale, he said.
“We’ve gotten most of the contracts back,” he said. “There are a few [for which] we haven’t gotten the fully executed contract back.”
He said the archdiocese has minimal expenses to pay from the $1.7 million. The archdiocese will pay a fee related to closing of $500 per package, which would cost roughly $37,500 to $40,000.
The auction company, which is based in Florida and Louisiana, received compensation in commissions from the buyers.
Rick Ruggles - Reporter