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Little interest shown in heavily advertised auction

Thursday, May 5, 2005 | 10:49 a.m.

Of the 68 parcels scheduled to go on the auction block at what had been hailed as "the largest private land auction in Nevada history," only 25 drew bidding.

Of the 25, only three parcels drew bids that met the required minimum.

The auction, which had been heavily advertised nationally in the weeks leading up to the event, was conducted by Sperry Van Ness.

The centerpiece of the event, a 250,000-acre ranch near Elko, was withdrawn during the Wednesday event.

About 40 Las Vegas-area parcels were advertised, ranging from one to 25 acres. A 9.5-acre parcel at Industrial Road and Interstate 15 drew the highest bid of the auction at $4.75 million, but the bid fell short of the $7.5 million minimum.

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