Update: Gehry House Sells for $905,000

The Winton Guest House, which was moved to the University of St. Thomas · Minnesota six years ago, was once valued at $4.5 million, as the Star Tribune reports. The article describes that "after less than five minutes of lackluster bidding, auctioneer Richard Wright declared it 'Sold' to a telephone bidder for $750,000, plus auction house fees." While the winning bid is relatively small, it is only slightly below Wright's auction estimate of $1 million to $1.5 million.

Why so low? The owner is responsible for moving the house from the university's property, which will obviously add substantial costs. The move is necessary since the university sold 180 acres of its Daniel C. Gainey Conference Center in Owatonna (about 65 miles south of Minneapolis) to a medical center last year. Due to the sale, the Gehry house needs to be removed from the site by August 2016. No details are available on the new owner, only that it is "an unidentified person from outside Minnesota," per the Star Tribune article.