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One-Eyed Jack’s Saloon in downtown Sturgis likely will be sold Oct. 6, according to the Rapid City auctioneer who is handling the sale.

Auctioneer Martin Jurisch said Sunday that Ray Gold recently decided to sell the 45,000-square-foot saloon and property, which have an assessed value of $3.8 million. The sale is scheduled to start at 11 a.m. at 1304 Main Street, which is where the business is located.

Gold, who now lives in Thailand, owned and operated several One-Eyed Jack’s saloons in Florida before building one in Sturgis in 1997. Now, however, age is catching up to him, Jurisch said.

“It’s a tough time for him, as he’s got to be pushing 80,” he said. “It’s time for him to pass the torch to someone new.”

The sale of the two-story commercial business and property includes the liquor license, furnishings, liquor inventory and vendor space with rustic log decor and security features.

The business, which is now closed for the season, is considered a popular place to visit during the annual Sturgis motorcycle rally.

Jurisch said he doesn’t expect a large crowd at the auction. Instead, it is more likely that a few potential buyers will show up. His marketing efforts have reached out to possible buyers in states as far away as California and Florida and as close as Colorado.

“Someone from Denver could step forward,” Jurisch said. “We’ll be darn sure to know on Oct. 6.”

For information about the property, go online to www.dakotaproperties.com/listings/detail/one-eyed-jacks-saloon.

Contact Jomay Steen at 394-8418 or jomay.steen@rapidcityjournal.com.