SANTA MONICA, Calif. -- The
Santa Monica Pier's iconic Ferris wheel has become a wheel of fortune for an area charity.
The ride was sold at auction on
eBay on Friday for $132,400, with half the proceeds going to
Special Olympics Southern California.
The owners of the Pacific Park amusement park decided to get a more modern Ferris wheel and auction off the current one, with a starting bid of $50,000.
The 10-day auction ended Friday, and real estate developer Grant Humphreys, CEO of Humphreys Real Estate Investments in Oklahoma City, put in the top bid.
"He is a nostalgic guy and there is nothing more nostalgic than a Ferris wheel," said
Gayle Wilson, controller for Humphreys Real Estate Investments.
Humphrey, 32, his wife and four children will travel to California on May 3 to take one of the last rides on the wheel. The company is likely to incorporate the Ferris wheel into one of its developments, Wilson said.
The real estate company is "all about creating communities where people can have good experiences," she said.
The Ferris wheel was put up for auction April 15. It cost $800,000 when it was installed at the pier's Pacific Park amusement park in 1996. It was upgraded two years later to become the world's first solar-powered Ferris wheel.
April 15 Video"This has been a great process in finding a new home for the Ferris wheel and we are especially excited to be able to present Special Olympics Southern California with such a large and well-deserved donation," said Jeff Klocke, director of marketing and sales at the pier's Pacific Park.
Over the last 12 years, more than 3 million people have taken a ride on the wheel.
The wheel will be replaced with a $1.5 million contemporary Ferris wheel next month. Installation is expected to begin May 5, with a grand opening ceremony set for May 22.
Starting Monday,
Santa Monica residents can ride the Ferris wheel for free, and on Thursday one resident will be selected to be the last rider on the Pacific Wheel.
On May 4, all guests will be allowed to ride for free and Pacific Park will donate $1 per rider to the Society for the Prevention of Cruelty to Animals Los Angeles.
The Pacific Wheel has been in 105 photo shoots, 71 television commercials, 69 television shows, 28 films and 13 music videos, according to Pacific Park. At night, the wheel is illuminated with 5,392 light bulbs.
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