A beachfront Ocean City home sold for $3.9 million at an extraordinary auction Saturday.
More than 70 registered guests attended the auction on the sprawling porch on Great Bay, cooled by soft breezes. It was an absolute auction with no minimum bid and the sale final.
The bidding on the 7000 s.ft. Victorian style mansion was frenzied for about 15 minutes as bids bounced between 4 people and also a California bidder via a representative with a cellphone.
In order to bid, interested buyers had to prequalify by presenting a refundable $100,000 cashier's check. The winner was required to present a personal check for 10 percent of the price including the $100,000.
Afterwards the sellers, Edward and Barbara Idzik, both said they were "very happy." Though they listed the property at 279 Bayshore Dr. for about $6.5 million two years ago, they said the market is soft and they wanted to end the stress of showing it and waiting for a sale. Edward Idzik said the bid was "in the range" of what he had expected.
The couple plans to live on their 50-foot yacht in the harbor until their new home in Phoenixville, Montgomery County, is built. The retired couple wants to move nearer their children and grandchildren.
