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Private island a steal for $17 million

A private island with 681 acres of paradinnocence islandise in the Bahamas was recently sold at auction for far less than its original listing price of $55 million.

With bidding starting at $8 million, the exclusive island idyll was sold for $17 million in a matter of minutes, despite an auctioneer’s best efforts to cajole higher bids.

In 2011, Innocence Island, part of the Exuma Cays, was first put on the market by its owner, but failed to generate any interest. In late 2013, the owner enlisted the agent with Sotheby’s International Realty who sold him the island originally in 2004 and asked to list it at $28 million. After learning of his terminal illness a few months later, the owner had a change of heart and decided to sell the property at auction.

What did the buyer get in return for $17 million? In addition to a 3,000-square-foot home with six bedrooms and six baths, the island has six secluded sand beaches, fresh well water, a pool, mature fruit trees, lush foliage and stunning views. A separate building on the hillside houses a gym with an expansive yoga deck overlooking the bay.

The island has its own airstrip, a diesel generator for power and separate housing for staff.


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