JOHNSBURG -- An auction for the year-round Garnet Hill Lodge this week was canceled because there were not enough qualified bidders.
Listing agent Shane Newell, of Select Sotheby's International Realty, said the sale generated a lot of interest, but perhaps the parties didn't fully understand the auction registration process.
Bidders were required to sign a contract and provide a $100,000 deposit.
"Although we had five registered bidders, we did not have the required deposits to qualify an auction, and it was unclear whether the auction would reach a fair value," Newell said Wednesday.
Newell said the owner, North River Holdings LLC, will now seek to sell the property through a more traditional process..