Guana Beach Resort Is Auctioned Off

Guana Beach Resort was auctioned off in parcels, bringing to an end the long history of one of the first resorts on Abaco.

On May 25 the J.P. King Auction Company of Gadsden, Alabama, handled the auction with the property being offered in 14 different pieces. In a party atmosphere about 200 persons attended as the ownership of nine of those pieces were determined.

In a first for Abaco, the ownership of property was determined by a public auction. Anyone wanting to bid on the property registered, then bid as Mr. King called out the bid price followed by the asking price. The excitement heightened as higher bids were named and competition for some of the properties became evident.

Nine of the pieces were "absolute" which meant that whatever price was bid was the final sale.

Some of the pieces had "reserved" prices which meant that the owner had minimum prices which he required for those specific pieces. The bidding established the first prices. After that anyone could bid on combinations of lots or could rebid on pieces already bid on. By the end of the day nine pieces were sold for a total of $1.4 million.

None of the five pieces of properties with reserved prices had bids which were accepted so those pieces still remain to be sold.

The Guana Beach Resort, previously known as Guana Harbour Club, has a long history as it was one of the first resorts on Abaco. It opened in the late 1950s and was known for its relaxed comfortable ambiance.

For years it was the popular place to go for a great November Guy Fawkes celebration. Mr. Gordon Sadler has owned the resort since the early 1990s. He has had major problems since Hurricane Floyd which severely damaged his buildings. A few days after the storm, the main building with the bar, lounge, dining room and kitchen burned down, leaving him without the central core of the resort. He is now developing a resort in the mountains of North Carolina.