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Trophy-property ranches hit the market as more heirs chose to sell

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Trophy-property ranches hit the market as more heirs chose to sell


Owned by the same family for more than 116 years, Reynolds Ranch is now on the market for $30.7 million.

Courtesy of California Outdoor Properties

For more than 116 years, Deanna Davis’ family has owned Reynolds Ranch, spanning 7,600 acres in California’s Central Coast region. With the heirs in disagreement over the homestead’s future, Reynolds Ranch is now on the market for $30.7 million.

“It’s so hard to make decisions together as a family about the ranch,” she told CNBC. “If I had the cash, I would buy the whole thing right now and cash everybody out and start over and take the title in a LLC.”

It’s a common predicament for family trees that have too many branches, said Davis, who runs the ranch. Her mother, who died last December, was the last family member who grew up on Reynolds Ranch. Now the family is scattered across the country and some of her relatives live overseas. Some family members who can only visit once or twice a year would rather cash out.

Families like Davis’ are increasingly choosing to sell these long-held properties, high-end ranch brokers told CNBC.

The legacy properties are in big demand — even if not at pandemic highs — as deep-pocketed buyers crave wide open skies and a slower pace of life. The so-called “Yellowstone” effect remains in full force, with fans of the Paramount show seeking sprawling properties in Montana, Wyoming, Colorado and other Western states.

“All I know is whoever buys this property, when they sit on the porch in the afternoon, sipping their margarita or iced tea, they will think they landed in paradise,” Davis said.

‘Nothing quite like it’

Ranch brokerage Live Water Properties currently has $700 million in listing inventory, up from under $200 million in May 2024, according to Jackson Hole, Wyoming, broker Latham Jenkins. Many of these properties are legacy ranches that are on the market for the first time in generations, he said.

One such listing is Antlers Ranch in Meeteetse, Wyoming, which spans 40,000 acres — nearly three times the size of Manhattan — and is priced at $85 million. Antlers Ranch is on the market for the first time in five generations.

“Large historic properties are less common as many have been broken up and sold off,” Jenkins said. “Those that remain are highly desirable.”

These legacy ranches can demand a premium for reasons other than acreage, he said. Many historic ranches, like another one of his listings, Red Hills Ranch, a 190-acre property asking for $65 million, are surrounded by public lands that cannot be developed. Buyers are drawn to that privacy, as well as the ability to hike and fish nearby and see wildlife up close.

Red Hills Ranch, 25 miles outside Jackson WY, spans 190 acres and is listed for $65 million. Nestled in the Bridger-Teton National Forest, Red Hills Ranch was formerly the private guest ranch of late senator Herb Kohl.

Courtesy of Live Water Properties

“When you sit next to a running river, watching sunrises and sunsets, seeing an elk calf be born, there’s nothing quite like it,” Jenkins said.

Families usually come to him when the next generation has little interest in taking over the ranch or the heirs can’t come to an agreement. He described it as “bittersweet” when these one-of-a-kind properties become available for the first time in generations.

“That’s the thing with real estate. The land is perpetual, but the ownership is not,” he said.

Bill McDavid, a broker at Hall and Hall, represents Rocking Chair Ranch, a 7,200-acre Montana ranch that has been in the same family for more than seven decades.

“The adult children just got to the point where they realized, ‘No, it’s time for this family to move on and do something else,” he said of the sellers behind the property, which is listed at $21.7 million.

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Generational transfer of wealth

As ranching has been on the decline for decades, many multigenerational ranches have already changed hands, according to McDavid, who is based in Missoula, Montana. However, he is also seeing a rise in families looking to sell ranches they bought 20 to 30 years ago. The owners typically don’t have family ties to ranching and decided to buy trophy properties after making their fortune in tech or finance.

“For the buyer who made their money in the dot-com era, they had a grand idea about a family legacy, or whatever,” he said. “And then their kids got older, and they didn’t move to the ranch because nobody ever moved to the ranch. I mean, the dot-com guy, he came out and visited for at most the summer.”

He added of the heirs, “it was never in the cards for them to take over the ranch.”

Davis said she hopes a local ranching family will buy her California property, which has abundant grazing pastures and water sources. However, she said its likely a buyer from Silicon Valley will snap up Reynolds Ranch, which is only an hour and a half drive from San Jose and can accommodate a landing strip for a private plane.

John Onderdonk, who advises on agricultural properties for wealth manager Northern Trust, said the generational transfer of wealth is shaping the market. He is also a fourth-generation cattle rancher and said he is fortunate that his brothers agree on keeping their central California ranch in the family. However, he said many of the families he works with that choose to sell do so because of finances rather than disinterest.

“Real estate is a capital-intensive asset class, and if there isn’t liquidity in the portfolio, and the rest of the family isn’t able to support that, tough decisions come into play,” he said.

Listed at $21.7 million, Rocking Chair Ranch is on the market for the first time in over seven decades. The Philipsburg, MT, ranch spans 7,200 acres.

Courtesy of Hall and Hall

Legacy ranches, which may come with livestock and cropland, are attractive but require much due diligence, according to Ken Mirr of Mirr Ranch Group. For instance, these ranches are usually run by long-tenured managers who might leave when the property is sold and are hard to replace, said the Denver, Colorado-based broker. Or, they stay and have a rough time adjusting to new ownership, Mirr added.

“Those managers who have been here a long time start thinking that they own the place, right?” he said. “Sometimes that’s not the best person to be managing the ranch.”

Buyers expecting complete privacy can get a rude awakening. For instance, Mirr said, the previous family could have a longstanding verbal agreement with a neighbor allowing them to cross through their property. Depending on the state, members of the public may also be fish or wade in rivers located on private property, he said.

McDavid said buyers with deep pockets can have unrealistic expectations, wanting a rural property without sacrificing convenience. For instance, many want to live within 30 minutes’ driving distance of a major airport. Buyers also prefer move-in-ready properties, and multigenerational ranches may lack modern amenities.

As for the sellers, they get a windfall but aren’t able to replicate the lifestyle that comes with a legacy ranch.

“It’s just kind of a unique thing when you’re sitting on your porch and you look around and you own everything as far as your eyes can see,” Davis said. “It’s extremely difficult, the concept of losing the place, but on the other hand it’s going to make the next family very happy.”



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Asian equities climb: Investors weigh US-China trade tensions, Fed rate cut expectations; gold rallies – The Times of India

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October 16, 2025

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Asian equities climb: Investors weigh US-China trade tensions, Fed rate cut expectations; gold rallies – The Times of India


Asian markets edged higher on Thursday as investors weighed escalating tensions in the US-China trade war alongside expectations that the Federal Reserve will continue cutting interest rates this year.The region’s gains follow a broadly positive session on Wall Street and mark a second consecutive day of recovery, as traders focused on softer US economic data and central bank signals that may favour further monetary easing.

Trump reignites trade war fears

Markets have been volatile this week after US President Donald Trump threatened 100% tariffs on Chinese goods in retaliation for Beijing’s new rare-earth export controls.When asked about the possibility of a prolonged trade conflict, Trump bluntly told reporters, “Well, you’re in one now… We have a 100 percent tariff. If we didn’t have tariffs, we would be exposed as being a nothing.”Despite the hawkish tone, treasury secretary Scott Bessent suggested a more conciliatory approach, proposing a potential extension of the tariff truce if Beijing delays its rare-earth restrictions.Trump still plans to meet Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation summit in South Korea later this month.

Fed rate cut expectations support markets

Investors were also encouraged by data from the Fed’s “Beige Book” survey, which pointed to a softer US job market, echoing other recent weak economic indicators. Fed chair Jerome Powell had warned earlier this week that “the downside risks to employment appear to have risen,” reinforcing market bets on additional rate cuts.Economists, however, remain cautious. Bank of America noted that uncertainties persist over trade, inflation, growth, and US policy, including healthcare and drug pricing.

Safe-haven assets climb

The combination of trade war jitters, rate cut expectations, and a weaker dollar pushed gold to new daily records, reaching $4,234.70 on Thursday.

Key market figures

  • India – Sensex: UP 0.56% at 83,064.09; Nifty 50: UP 0.54% at 25,459.70 (at 12 pm)
  • Tokyo – Nikkei 225: UP 0.9% at 48,088.07
  • Hong Kong – Hang Seng: UP 0.2% at 25,953.67
  • Shanghai – Composite: UP 0.1% at 3,914.85
  • Euro/USD: UP to $1.1670 from $1.1645
  • Pound/USD: UP to $1.3436 from $1.3400
  • Dollar/Yen: DOWN to 150.54 from 151.24
  • WTI crude: UP 0.8% at $58.71/bbl
  • Brent crude: UP 0.7% at $62.34/bbl
  • New York – Dow Jones: FLAT at 46,253.31
  • London – FTSE 100: DOWN 0.3% at 9,424.75

Markets in Sydney, Seoul, Wellington, Taipei, and Manila also posted gains as traders balanced geopolitical risks with hopes for accommodative US monetary policy.





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Forget Vande Bharat Sleeper- Indian Railways New Luxurious Coach To Set New Benchmark Of Comfort – Watch

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October 16, 2025

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Forget Vande Bharat Sleeper- Indian Railways New Luxurious Coach To Set New Benchmark Of Comfort – Watch


Indian Railways is expected to roll out the Vande Bharat Sleeper for the public very soon. The Vande Bharat Sleeper is fitted with amenities that redefines the luxury of long distance travel for common people. While Indian Railways’ passengers eagerly await the Vande Bharat Sleeper launch, the public transporter has unveiled the prototype of the latest luxurious interior, which will replace the modern Vande Bharat Sleeper.

The upcoming Vande Bharat Sleeper trains will introduce redesigned upper berths aimed at making long-distance travel more comfortable and accessible for passengers of all age groups, a government official said on Wednesday. Nishank Garg, Director of the Vande Bharat Project at Kinet—the joint venture overseeing the trains’ development—told IANS that extensive passenger feedback guided the redesign process.

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“Many passengers feel the upper berth is uncomfortable and difficult to reach. We took this feedback seriously while designing the new Vande Bharat Sleeper,” Garg said. He added that the ladder to the upper berth has been re-engineered for ease of use, making it more convenient and safer. “This feature will be included in the very first train, which we plan to deliver next year. Work is progressing rapidly,” he added.

Evgeny Maslov, Chief Designer of the project at Kinet, said the design represents a step forward in redefining comfort in Indian rail travel. “Our aim is to offer a next-level travel experience. Vande Bharat is a landmark initiative for India, and this is our vision for its future,” Maslov said.

Kinet Railway Solutions—a partnership between Russia’s Transmashholding, the country’s largest rolling stock manufacturer, and India’s Rail Vikas Nigam Limited (RVNL)—has been contracted to design and produce 1,920 sleeper coaches (120 trainsets) for the Vande Bharat project. The joint venture will also maintain the coaches for the next 35 years.

Railway Minister Ashwini Vaishnaw highlighted India’s progress in railway modernisation under Prime Minister Narendra Modi’s leadership, noting that 35,000 kilometres of new track have been laid, 46,000 kilometres electrified, and 40,000 new coaches manufactured over the past 11 years.

He said the transformation reflects the government’s sustained focus on upgrading India’s railway infrastructure and passenger experience.





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Gold & silver price prediction today: Will bullish momentum of MCX Gold, MCX Silver continue ahead of Diwali? Here’s the outlook for gold, silver rates – The Times of India

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October 16, 2025

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Gold & silver price prediction today: Will bullish momentum of MCX Gold, MCX Silver continue ahead of Diwali? Here’s the outlook for gold, silver rates – The Times of India


Given the ongoing geopolitical tensions, inflationary concerns, and a weak global economic outlook, gold remains a preferred safe-haven asset. (AI image)

Gold and silver price prediction today: Both gold and silver prices are exhibiting strong bullish momentum and investors should look to buy on dips, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:

MCX Gold Outlook:

MCX Gold prices are currently trading around the ₹1,27,000 mark, reflecting strong bullish momentum. On the international front, COMEX gold is comfortably holding above the $4,000 level, further reinforcing the positive trend. This price behaviour indicates that gold is consistently forming higher lows, which is a classic sign of strength in technical analysis. The ability to protect previous support levels suggests that buyers are active at lower levels, absorbing selling pressure and preparing for potential upside moves.From a short-term trading perspective, gold prices have the potential to move towards the ₹1,30,000 level if the current momentum continues. Traders can consider accumulating positions near the ₹1,26,000 support zone, where buying interest has previously emerged. A strong support base is seen at ₹1,23,500, and any dip toward this level may offer a good risk-reward entry for bullish positions.Given the ongoing geopolitical tensions, inflationary concerns, and a weak global economic outlook, gold remains a preferred safe-haven asset. These factors are likely to keep demand strong and prices buoyant in the near term. As long as prices sustain above the key support levels, the outlook for gold remains optimistic with further upside potential.

MCX Gold Trading Strategy:

  • CMP: 127000
  • Target: 130000
  • Stoploss: 123500

Buy on Dips near to 126000 for the above mentioned target

MCX Silver Outlook

MCX Silver has shown significant strength and has outperformed MCX Gold in recent sessions, currently trading around ₹1,60,000 levels. This rally reflects robust bullish sentiment driven by a combination of industrial demand, investment interest, and a positive technical setup. Silver’s strong price action suggests that market participants are confident in its upside potential, especially as it continues to make higher highs and higher lows, a clear sign of an ongoing uptrend.Compared to gold, silver tends to exhibit more volatility, which can offer attractive trading opportunities. Any corrective move or dip toward the ₹1,57,000 level can be seen as a buying opportunity, supported by strong demand and momentum. On the upside, prices have the potential to move toward ₹1,63,000 in the near term. Traders should maintain a stop-loss at ₹1,54,000 to manage risk effectively in case of unexpected price reversals.Silver’s dual role as both a precious and industrial metal makes it a favored asset in times of economic uncertainty, as well as during periods of industrial recovery. With favorable fundamentals and technical strength, silver remains well-positioned for further gains, and buying on dips strategy could prove rewarding in the current market environment.

MCX Silver Trading Strategy

  • CMP: 160000
  • Target: 163000
  • Stoploss: 154000

Buy on Dips near to 157000 for the above mentioned target(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)





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