1,600 acre ranch on rim of Palo Duro Canyon hit the auction block

The lighthouse at the Palo Duro Canyon

Back in 1936, the now famous Denny-McClain ranch was founded on the rim of the Palo Duro Canyon in both Randall and Armstrong counties.

And now, after more than 75 years in the same family, it's under new ownership, Following a once in a lifetime auction at Assiter Auctions on the e-way, just north of Canyon.

The room filled up quickly at Assiter Auctions before noon. It's not often 1600 acres on the rim of the Palo Duro Canyon comes up for sale, and there were a lot of people pouring over the sale catalog, with yellow bidder cards ready to be raised. Auctioneer Spanky Assiter, with his trademarks glasses on his brow, got the crowd warmed up and they were off and running.

The Denny/McClain ranch was broken up into 8 different tracts with each tract going up for bid by itself, and after those 8 bids were recorded, then anyone could combine any or all tracts of land together in a final bid package.

Looking on, Mary Kate Denny McClain, who has lived at the ranch her entire life.

"I'm really happy it went to a wonderful family and a good rancher...hate to leave it, came home from the hospital to it, when I was born, let me clarify that, but i'm really thrilled with it...and it's hard to leave," said Mary Kate Denny-McClain.

After a few more bids were put out for different parcels, one final bid of more than 1-point-8 million dollars for the entire spread was made.

Promoted as a once in a lifetime opportunity, the entire ranch was on the block and as Mary Kate pointed out...

"You can't buy land anymore they're not making any more of it..."

When all was said and done, the final price with all the particulars topped 2 million dollars...a success story according to Assiters Auction, according to Mrs. Denny-McClain.

"One thousand percent, not 100 percent, 1000%."

The new owner declined to go on camera but did say he plans on keeping it a working ranch. That was verified by Mrs. Denny-McClain who said the new owners were coming in at midnight to start planting crops on their ranch.

Mary Kate told us she's planning on moving to Colorado to be closer to her son and said she couldn't be happier the new owners got the entire ranch in the auction.