The highest bid was 1.7 million euros, below the base value of 2.4 million, with all investors alleged to be from the region.
Joana Ferreira, responsible for the auction company LeiloSoc, told Jornal da Madeira that the proposals will now be taken for consideration, to negotiate the best possible solution.
Opened in 1896, the “Café Relógio” preserved one of the most important traditions in the region for more than a century and became one of the biggest attractions in the town of Camacha.
The property, as indicated in the auction announcement, will be sold with all its contents. It has seven floors and consists of an inn with 24 rooms, two restaurants, a museum, a wicker factory, and a patio. It includes hotel and restaurant equipment, office equipment and IT material, furniture, stock of various regional and artisanal items, and vehicles, among other items.