The so-called ‘Boracay Mansion’ in New Manila, Quezon City has been put on auction by the Sandiganbayan. The anti-graft court had earlier declared the property part of the ill-gotten wealth of former President Joseph Estrada. (Photo by KJ ROSALES)

The Sandiganbayan failed to dispose on Tuesday of the controversial “Boracay Mansion” allegedly owned by former President Joseph Estrada during a scheduled auction after prospective bidders who expressed interest on the property snubbed the bidding.

The base price for the mansion in upscale New Manila in Quezon City was placed at P142.918 million. Sandiganbayan Chief Sheriff Edgardo Urieta closed the failed auction, which was open to media for transparency and public interest, at about 2:10 p.m. Tuesday at the Sandiganbayan Centennial Building on Commonwealth Avenue, Quezon City.

“Maraming tumawag sa amin na gustong sumali sa bidding pero walang dumating sa takdang oras,” Urieta told reporters.

The sheriff said they would request the court to allow the turnover of the property to the National Treasury.

“We will submit a report to the court and we will request that this property be turned over to the National Treasury in the absence of any bidder,” said Urieta of the mansion, which was described by the court as “totally damaged, vandalized and not anymore livable.”

Earlier in the day, Urieta said two prospective bidders with whom he had separate telephone conversations expressed interest in the property.

However, since bidding for the property required cash, Urieta said the potential bidders whom he did not identify were still completing financial documents needed by the banks Tuesday.

Earlier, lawyer Renato Bocar, Sandiganbayan spokesman and executive clerk of court, said even deposed President Estrada was eligible to bid.

Bocar said the floor price of the Boracay Mansion was based on the April 2008 valuation of the Commission on Audit.

The 7,145 square-meter property, located at No. 100 11th Street, Barangay Mariana, New Manila, was built on two contiguous lots – one measuring 5,192.88 square meters and the other with an area of 1,953.04 square meters.

Forfeiture of the mansion was part of the Sandiganbayan’s September 12, 2007 ruling convicting Estrada of plunder.