Published: Saturday, Nov. 21, 2009
Weyrich auction delayed until Tuesday
Experts guess the delay may be because the businessman is getting private bids
Comments (0) | 
E-Mail
Print
tool name
closeThe public auction, slated for Friday, of key properties owned by David Weyrich — one of the most prominent businessmen in the county — has been postponed until Tuesday. The delay was announced Friday about 12:30 p.m. on the steps of San Luis Obispo’s old courthouse on Osos Street.
The holdings being foreclosed include the Martin and Weyrich Winery with more than 250 acres of vineyards; Villa Toscana, the luxury bed-and-breakfast inn nestled in the Martin and Weyrich vineyards on Paso Robles’ eastside; two tasting rooms; the York Mountain Winery and vineyards in Templeton; and the 280-acre Jack Ranch Vineyard in Edna Valley, according to notices of trustee sales filed with the county.
The properties were put up as collateral for an estimated $20 million that Weyrich has borrowed from Transamerica Financial Life Insurance Co., a subsidiary of Netherlands-based Aegon, documents show.
Between 40 and 50 people gathered on the courthouse steps for the proceeding, scheduled for noon. Some said they had no stake in the auction but were simply there for curiosity; some were brokers who would say only that they were representing “interested parties,” and others said they would make bids if the auction proceeded.
Weyrich was not present.
Transamerica representative Susan Davis in Los Angeles told auctioneer Sheryle Machado of All American Foreclosure of the decision to delay the auction by phone.
Machado could say only that the decision to delay it until 11:30 a.m. Tuesday was made “at the beneficiary’s (Aegon’s) request.”
However, a number of the real estate agents and brokers in the crowd speculated that Weyrich might be getting private bids to buy the properties — offers serious enough for Aegon to consider delaying the auction.
One of the brokers, Chris Bausch of Independent Real Estate Brokers in Paso Robles, said that regardless of the reason, the delay buys time for anyone interested in making an offer on some or all of the properties at stake.
What you should know about comments on SanLuisObispo.com
SanLuisObispo.com is happy to provide a forum for reader interaction, discussion, feedback and reaction to our stories. However, we reserve the right to delete inappropriate comments or ban users who can't play nice. See our full terms of service here.
Here are some rules of the road:
- Keep your comments civil. Don't insult one another or the subjects of our articles. If you think a comment violates our guidelines click the "report abuse" button. Responding to the comment will only encourage bad behavior.
- Don't use profanities, vulgarities or hate speech. This is a general interest news site. Sometimes, there are children present. Don't say anything in a way you wouldn't want your own child to hear.
- Do not attack other users; focus your comments on issues, not individuals.
- Stay on topic. Only post comments relevant to the article at hand. If you want to discuss an issue with a specific user, click on his profile name and leave him a public message.
- Do not copy and paste outside material into the comment box.
- Don't repeat the same comment over and over. We heard you the first time.
- Do not use the commenting system for advertising. That's spam and it isn't allowed.
- Don't use all capital letters. That's akin to yelling and not appreciated by the audience.
You should also know that The Tribune does not screen comments before they are posted. You are more likely to see inappropriate comments before our staff does, so we ask that you click the "report abuse" button to submit those comments for moderator review. You also may notify us via email at webmaster@sanluisobispo.com. Note the headline on which the comment is made and tell us the profile name of the user who made the comment. Remember, comment moderation is subjective. You may find some material objectionable that we won't and vice versa.
If you submit a comment, the username of your account will appear along with it. Users cannot remove their own comments once they have submitted them, but you may ask our staff to retract one of your comments by sending an email to webmaster@sanluisobispo.com. Again, make sure you note the headline on which the comment is made and tell us your profile name.
About comments
Reader comments on SanLuisObispo.com are the opinions of the writer, not The Tribune. If you see an objectionable comment, click the "report abuse" button below it. We will delete comments containing inappropriate links, obscenities, hate speech, and personal attacks. Flagrant or repeat violators will be banned. See more about comments here.