According to Mansion Global a collection of more than 100-Indonesian islands are headed under the hammer in December without reserve, offering one deep-pocketed buyer the opportunity to snag the ultimate trophy property portfolio.
Known as the Widi Reserve, the archipelago comprises dozens of uninhabited, tropical islands complete with 150-kilometers of sandy beaches, thriving coral reefs and rainforests across its 25,000-acres, according to Sotheby’s Concierge Auctions, which is auctioning the pocket of paradise. The highest bidder will be buying development rights, as private ownership of Indonesian islands is illegal.
“Every billionaire can own a private island; but only one can own this exclusive opportunity spread across 100-plus islands,” said Charlie Smith, Sotheby’s Concierge Auctions’ Executive Vice President, EMEA.
“We’re presenting a prime opportunity for any discerning buyer in the world to participate in the conservation and development of one of the most pristine areas on Earth,” he said.
Bidding will open December 8 and conclude on December 14, live at Sotheby’s New York, and potential buyers will also be able to bid online, say Mansion Global.
The archipelago is currently home to rare and endangered species, including blue whales, whale sharks and 600-documented species of marine mammals, fish, birds, insects and lizards. That makes it primed for sustainable development, whether that be a transformation into a luxurious tropical hideaway for personal use or a lavish eco resort.
Since Indonesian law doesn’t allow for private ownership of islands, shares in a business with development rights can be sold to anyone, Sotheby’s said. The Widi Reserve will have the eventual owner acquire interest in a holding company, PT. Leadership Islands Indonesia (LII).
Source: Mansion Global
Image: Sotheby’s Concierge Auctions