Want to buy your own private island? Well you don't have to be a millionaire to be in the market.
Cedar Island, just north of Burlington, is being auctioned off.
If you're in the market for a New York City apartment, you might want to hold off because you can buy your own private island for about the same price.
"$850,000 is the base price for the auction with Concierge Auctions," says Cedar Island listing agent, Kathy O'Brien.
The 8.4 acre property is being auctioned off online for one hour, yes, one hour on October 12th.
"Islands on Lake Champlain rarely come on the market, so I think the last sale was this island, which was clearly about 10 or 11 years ago," says O'Brien.
She says the starting price is a steal, given the 5 bedroom home, guest house, breathtaking views and its proximity to the mainland.
“It's literally a five minute boat ride back to Apple Island Marina and you can go and come back at 3 o'clock for cocktails.”
After 10 years, the Connecticut owner is ready to retire his piece of Vermont paradise.
"What it is, is value, and you know if you think about it, 50 percent off $1.795M is a great value so that is the benefit of the auction, and it's exciting for the seller. It gets it done in 30 days."
It’s only been on the market for about two weeks, but you might be bidding against people all over the globe.
"I think Cedar Island is a hot ticket and just based on the response that we are getting from people all over the country even around the world taking a look at this online and giving us call," says O’Brien.
This is the third property Concierge Auctions will auction off in Vermont. If you're looking to buy, you can contact Project Sales Manager, Caitlin Keys, Phone: 212.641.0406
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