Wednesday, September 15, 2010

Ketchum property auction canceled days before event

The auction of a high-profile Main Street Ketchum property scheduled for Monday was canceled three days earlier.

Boyce Bailey, chief financial officer for Kent Corbett of Corbett Bottles Real Estate Auctions, said the property owner, Idaho Banking Co., canceled the auction Friday. Bailey said he was not at liberty to divulge the reason.

The Idaho Mountain Express first reported about the auction on Aug. 13. At that time, auctioneer Kent Corbett said Idaho Banking Co. had signed a contract holding the bank to its sell-regardless-of-price promise for the 1.04 acres, consisting of three parcels and three commercial buildings. The auction was scheduled to happen on site, at the southwest corner of Main and River streets, kitty-corner to Best Western Kentwood Lodge at the southern entrance into Ketchum.

Bailey said bank-owned-property auctions have increased so much that they account for half of Corbett's auctions.

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