Monday, July 02, 2007

Fort Lauderdale Man Doesn't Get $12 Million Asking Price For Island

FORT LAUDERDALE, Fla. -- How much is a private island worth? Apparently not the $12 million dollars 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 Thursday to meet his asking price.

Holcomb said 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, II. Holcomb bought it in 1986 for $650,000. He said 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

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