eBay effort: Lots of PR, no sale for CMC
GSPI News Editor
So much for giving it the old college try.
Colorado Mountain College’s effort to sell its Vail campus via the eBay Internet auction site went bust Thursday when no one bid on the property by the end of a 30-day auction window.
The college had set a $3.5 million minimum bid for the building.
College spokesman Nick Isenberg said CMC will now turn to a real estate agent in an attempt to sell the property.
He said the eBay approach was worth a try.
“We didn’t know what to expect. Even though we didn’t get a bid, we got lots and lots of publicity, which we were pleased about,” he said.
USA Today, Denver media outlets and college trade publications did stories on CMC’s unique approach to marketing the campus, he said.
Though no one bid on the property on eBay, it got a lot of lookers.
“We got over a 1,000 hits between yesterday and today so a lot of people were following it,” Isenberg said Thursday.
The 15,000-square-foot building is located in Cascade Village, about 600 feet from one of the Vail chairlifts. It was used as a campus for two decades.
Isenberg said the asking price was based on an appraisal, and CMC is hoping it won’t have to accept a lower offer.
“It could be that people who saw it will still contact us,” he said.
CMC is headquartered in Glenwood Springs and has 13 locations across western Colorado. It is building a 30,000-square-foot Eagle County campus in Edwards. The Vail building will be available for occupancy when the Edwards campus opens in August.
CMC listed the Vail site on eBay in hopes of reaching a broad audience of potential buyers for a low cost. College officials hoped the online auction could be a more profitable way of selling it.
They also had hoped to see a bidding war because excess proceeds beyond the $3.5 million base price would have gone to the nonprofit College Mountain College Foundation, which helps needy students with scholarships.
Contact Dennis Webb: 945-8515, ext. 516
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