Jewelry Collection of Lubbock Embezzler to be Offered at Auction!

Jonathan D. Nelson Receivership to be Auctioned by Heritage

DALLAS, TEXAS: Jonathan D. "Jody" Nelson was the Chief Financial Officer with the oil and gas-drilling firm Patterson-UTI Energy, Inc., based in Snyder, Texas, the second-largest owner of land-based drilling rigs in North America. Young, successful, and with a bright future ahead of him, Nelson embezzled more than $77 million from the company through a phony invoice scam. On October 10, 2006, Nelson was sentenced to 25 years in prison for his crime.

"In addition to being fined $200,000, Nelson was ordered to repay the $77 million, minus about $44 million that had already been recovered, through the sale of ill-gotten assets," said Jill Burgum, Director of fine Jewelry and Timepiece Auctions for Dallas-based Heritage Auction Galleries. "Those assets reportedly included an airplane and airfield, a cattle ranch, various residences and vehicles, and a certain amount of fine jewelry, which is how Heritage became involved."

"Jody Nelson had a fondness for the fine things in life, which is apparent when one examines the jewelry he bought with his embezzled funds," Burgum said. "The list includes several pieces by the well-known designer Cathy Waterman, a clutch of Rolex watches, and a number of fine diamond, gold and platinum pieces."

'According to the terms of the receivership, everything must be sold," Burgum, said, "so this is a fabulous opportunity for lovers of fine jewelry to acquire some spectacular pieces. I'd invite anyone interested to visit our website at www.HA.com, where they can see full-color, fully enlargeable images of each lot, read our thorough and complete catalog descriptions, and even enter their bids online. There's nothing as alluring as exquisite jewelry, especially with the holidays just around the corner, so don't miss this marvelous opportunity."

Heritage Auction Galleries will hold its inaugural auction of Fine Jewelry and Timepieces on December 4, 2006, at their world headquarters in Dallas, Texas. For more information, please visit www.HA.com.

Highlights of the Jonathan D. Nelson Receivership include:

Colored Diamond, Diamond, Platinum, Ring, Tiffany & Co.:
ESTIMATE: $40,000 - $60,000

Diamond, Platinum Necklace, Cathy Waterman:
ESTIMATE: $8,000 - $10,000

Tiffany & Co., Men's Platinum, Leather Strap Wristwatch, Modern:
ESTIMATE: $4,000 - $6,000

Diamond, Platinum Necklace, Cathy Waterman:
ESTIMATE: $3,000 - $5,000

Pink Tourmaline, Diamond, Platinum Jewelry Suite, Cathy Waterman:
ESTIMATE: $3,000 - $5,000

Rolex, Men's Diamond, White Gold "Cellini" Leather Strap Wristwatch, Modern:
ESTIMATE: $3,000 - $5,000

For more information about the December auction, or to discuss consigning material to a future auction, please visit www.HA.com, or simply call Jill Burgum at 1-800-872-6467, ext. 697, or email JillB@HA.com.

For more information about Heritage's auctions, and a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit www.HA.com.

To reserve your copy of any Heritage auction catalog, please contact Nicole Jewell at 1-800-872-6467, ext. 272, or visit www.HA.com to order by email.