Eye On Boise

First competitive bidding makes an extra $123K for endowment over appraised value

The first competitive bidding of today’s Priest Lake cabin site auction just happened, with a lot appraised at $361,604 the subject of hotly contested bidding between two determined bidders, finally selling for $485,000. There was no applause after this one; just some murmuring. That cabin site, in Coolin, has improvements on it valued at $204,900. It was one of those for which the existing lessee had planned to have someone else bid on the lot and take it over; neither of the two people bidding today was the current lessee. The high bidder will have to pay the current lessee the appraised value for the improvements.

The next few lots all have sold for appraised value.

Then, one at 11 S. Shore Outlet Road, with the lot valued at $200,000, drew no bids. Auctioneer Kent Corbett said that one will remain open for bidding until the end of the day; the final group of cabin sites comes up for bids at 7 p.m. Pacific time.




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Betsy Z. Russell
Betsy Russell covers Idaho news from the state capitol in Boise and writes the Eye on Boise blog.

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