Do you struggle with what to get your favorite ski bum for Christmas each year? Have plenty of cash, but unsure what to buy? Then you’re in luck, as Utah ski resort Elk Meadows has gone on the Internet auction block, looking for a new owner. But you better have deep pockets, as the auction, which opened on Friday, has a minimum bid of $1 million.
Elk Meadows was originally designed to be an exclusive luxury ski and golf area, catering to an upscale clientele. But its location made it difficult to attract that crowd. While it is located in a very scenic area, with good ski runs and plenty of snow, it is more than four hours south of Salt Lake City, requiring visitors to bypass a number of other excellent options to hit the slopes. The resort closed its doors following the 2001-2002, averaging just 20,000 visitors per year.
The winner of the auction will likely get quite a bargain. Elk Meadows comes complete with six ski lifts, covering more than 1300 vertical feet. Reportedly, there are other pieces of infrastructure in place as well, but the company that is conducting the auction says that the resort will require a lot of work to get up and running again. Consider this investment property a “fixer-upper”.
The bid deadline has been extended to 6 PM Mountain Time on Monday, in order to allow more potential buyers to consider purchasing the property. As of this writing, the highest bid is $1,051,000, and it is unclear if there are other interested parties who may make a move to grab the resort on the cheap. If you’d like to make a bid of your own, head over to LFC.com and get your Christmas shopping started early.