Marco auction a bust

No accepted bids at auction

The recent Marco Island real estate auction was a bust as no properties were sold at the event.

In an apparent indication of a softening real estate market spawned by Hurricane Wilma, an auction of 14 residential properties valued at $450,000 to $2.3 million has yielded no successful bids.

Premier Plus Realty Co. owners Frank Schultz and Erik Hansen blamed the lack of sales on post-Wilma jitters, a scarcity of serious bidders and lowball bids at a scheduled four-hour auction conducted Nov. 12 at the Marco Island Yacht Club.

Auction is a tough sell on Marco [Naples Daily News]