$2.5M SASKATCHEWAN HOME SELLS FOR $550GS

Calgary Sun - - NEWS -

A mas­sive house and piece of land listed for sale on Saska­toon Ki­jiji has sold for $550,000.

Auc­tion staff say it was a once in a life­time item.

The un­fin­ished man­sion sits on a 160-acre es­tate com­plete with cul­ti­vated land, south of High­way 3 be­tween the towns of Wel­don and Kin­istino.

On Thurs­day, an on­line bid­der from Bri­tish Columbia bought it dur­ing an auc­tion at Ritchie Broth­ers Auc­tions in Saska­toon.

The auc­tion took less than 10 min­utes.

Luke Frit­shaw, re­gional sales man­ager for Ritchie Broth­ers, said the sale price was higher than ex­pected. De­spite the fact the house was val­ued at $2.5 mil­lion, both the auc­tion house and the sell­ers are pleased with the re­sults, as the struc­ture re­quires a lot of work, he said.

“There’s a lot of money that still needs to be spent on that house and not every­one is ready to just jump into a half­built house and spend a whole pile of money. The price, I think, re­flects still what needs to be done,” Frit­shaw said.

“There’s been mil­lions and mil­lions spent on that house, but you have to have the right per­son that’s go­ing to spend mil­lions and mil­lions more to live in that area.”

Why the house was built and what pur­pose it was in­tended to serve is still an unan­swered ques­tion.

Frit­shaw said he’s heard ru­mours, but doesn’t want to spec­u­late.

RITCHIE BROS. AUC­TION

This 12,000-square-foot, un­fin­ished man­sion near Kin­istino, Sask., has sold for $550,000.

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