Fort Lauderdale man doesn't get $12M asking price for island
FORT LAUDERDALE, Fla. (AP) -- How much is a private island worth? Apparently not the $12 million a Fort Lauderdale man was seeking for his personal paradise in the Bahamas.
Jack Holcomb was auctioning off his private island, called Leaf Cay. But no bidders stepped up yesterday to meet his asking price.
Holcomb says he has a backup plan to sell the island, but hasn't released any details.
The 15-acre island was designed to be self-sufficient for five years. Holcomb designed most of its 19 hurricane-hardened buildings.
The island was once owned by Queen Elizabeth the second. Holcomb bought it in 1986 for $650,000. He says he decided to sell it on doctors' orders -- he's been treated for skin cancer, and was told to spend less time in the sun.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
