Bids but no sale in Tuesday’s Castle Inn Riverside auction

Despite an auction that lasted nearly an hour and a half, the Castle Inn Riverside did not sell Tuesday.

Owners Paula and Terry Lowry said through a family spokeswoman that they will continue trying to find a buyer for the 124-year-old Wichita landmark.

“It is extremely important that the right successor for the castle be found,” said Kathy Beat, a sister of Terry Lowry. “That didn’t happen today.

“And, in the days ahead, that will be the quest while Terry and Paula plan for the next journey of their life.”

Beat did not disclose the number of bidders in Tuesday’s auction nor the amount of the bids. The auction was conducted by J.P. King, one of the largest real estate auction companies in the nation.

A news release issued late Tuesday afternoon by J.P. King said 47 potential buyers expressed interest in the castle, mostly from six states in the Midwest and Northeast. Only three registered bidders were present for Tuesday’s auction.

“The more unique a property is, the more limited that buyer base is,” Craig King, president and CEO of J.P. King Auction Co., said in the release. “We’ll continue to work with our interested buyers to try to reach a price both parties are satisfied with.”

The Lowrys have operated the property as the Castle Inn Riverside for the past 18 years. After Dec. 31, the castle will no longer operate as a bed and breakfast.

When the Lowrys renovated the castle in 1994, they turned the second and third floors into an 11-room bed and breakfast with a fireplace and a bathroom in almost every room. The castle’s carriage house has three more guest rooms and an exercise area.

The castle and its carriage house have been listed on the National Register of Historic Places since 1973.

This story was originally published December 18, 2012 at 10:25 PM with the headline "Bids but no sale in Tuesday’s Castle Inn Riverside auction."