Old SD governor’s mansion sale short of minimum price
RAPID CITY (AP) — The mansion that served 16 South Dakota governors couldn’t draw even the minimum asking price at auction.
Bidding started at $600,000 Thursday near Rapid City, the Rapid City Journal reported. It fell to $375,000 before a man flashed the winning bid for $410,000, not much more than the cost to move the building from Pierre to Rapid Valley.
While dozens of onlookers showed up, only a handful of bids were actually offered.
Sturgis auctioneer Dave Wilson said the winning bid was below what Home Federal Bank of Sioux Falls wanted to sell it for, so the new owner had to negotiate the final price, which wasn’t disclosed.
A man who identified himself to the newspaper only as Bill confirmed after the auction that he was the highest bidder. He lives in Arizona but said he’s originally from South Dakota and has ranching interests in the region.