Prague's Veleslavín Chateau fails to sell for third time

The Office for Representing the State in Property Matters failed to sell Prague's Veleslavín Chateau for a third time, as there were no bids at Tuesday’s electronic auction, which had a starting price of 420 million crowns, according to the auction website. This repeated the situation in the previous two attempts to sell the chateau in November and January.

The property office said in a press release that no one had submitted an auction deposit of 15 million crowns, so the auction was automatically cancelled. It intends to announce a new round of the auction. The initial starting price last November was 580 million crowns, later lowering to 493 million crowns and now 420 million crowns.