Bill Sturgis is President of both Great Southwest and Group Southwest Auctions Realty. He has held real estate auctions in some 28 states where he is a real estate broker. Clients include Mobil Oil Company, Oxidental Petroleum, Montgomery Wards Corp., Circuit City, First City Bank Corp., Resolution Trust Corporation and FDIC. Bill has appeared as a guest on several of television’s financial magazines such as Money Line and Money Matters. He appeared on the old Tonight Show with Johnny Carson after he had sold the “Pride of Texas” the famous Glorietta Ranch.
Bill entered the auction business after graduating from Baylor University Hankamer School of Business in 1970. His area of specialty was real estate as well as heavy equipment. His focus was to work with major construction companies and sell equipment on site at the completion of projects. He had equipment yards in Ft. Worth and Houston.
He left his company with members of his family in 1973 to return to Waco Texas and fulfill a life long dream and obtain a law degree.
Armed with a new education in 1977, Bill started Great Southwest Auctions Reality to offer a service portal to the Texas Banking Industry. His plan was to offer multi-state as well as multi-national exposure to real estate owned by banks due to trust and estate holding accumulated from probate proceedings. The service soon expanded to any and all real estate owned by financial institutions. With the mega mergers of bank groups, the need for real estate services grew to national levels.
In 1986, Bill held one of the first multi parcel recreational property Seven Coves on Lakes Conroe, just north of Houston TX. The entire offering sold setting a national sales record for a two-day real estate sale and set precedence for additional development sales.
Whether it is a multi-million dollar home, a plantation with contagious acreage, commercial property, a recreational facility, or development property – If its real estate-it can be sold at auction. Mary Kay Ashe of Dallas, Singer Kenny Rogers, Sen. Lloyd Bentsen, all sold their property at auction. The list of multi-million dollar properties sold at auction grows every day.
In 2005, the auction industry accounted for an estimated 232 billion dollars in real estate activity. Major retailers including Wal-Mart, Auto-Zone, Circuit City, Montgomery Wards have chosen the auction method to market their property”.
In 1982, Bill ventured into another area-oil and gas. After a long arduous selection process, Ken Olive, President and CEO of the Oil and Gas Asset Clearing House, Houston TX, chose Group Southwest Auctions to officiate over its energy auctions. To date more than 4 billion dollars in energy auctions have been completed. Sellers at these auctions include Exxon Mobil, Chevron Texaco, Kerr McGee, Anadarko, British Petroleum, Conoco Phillips, and Amerada Hess. New records in single as well as two day sales have been set. The 1st hundred million dollar sale took place in December 2005. The outlook for 2006 looks brisk and active.
HOUSTON — By the second lot of the auction, it was clear the spark of The Oil & Gas Asset Clearinghouse auction was as bright as ever.
“Here we go, folks, let’s have an auction right here in Houston, Texas—Clearinghouse style,” auctioneer Bill Sturgis shouted out to an audience of bidders, some watching online and others in-person at the opulent Houstonian Hotel.
On June 9, Clearinghouse held its first auction since being purchased by OFSCap. The second lot up for sale was a Comstock Resources’ (NYSE: CRK) operated property package in Sebastian County, Ark., and Le Flore County, Okla.
Sturgis opened the lot at $50,000.
An online bidder quickly doubled the asking price: $100,000.
The pulse of the room quickened. Bidding escalated on the floor and via the Internet as the price rapidly shot past $1 million.read full article