April 26, 2017 — A Portland real estate developer outbid the owners of Cook’s Lobster & Ale House on Tuesday to purchase the Bailey Island wharf adjacent to the restaurant for $510,000.
Arthur Girard, who in 2015 donated Ram Island in Saco Bay to the University of New England, said he’s not sure what he’ll do with the property, which for decades has operated as a commercial fishing wharf for local lobstermen.
“I have no plans for it,” he said. “That’s how I get inspired.”
Girard, who does business as AMG Holdings in Portland and Miami, Florida, was one of a handful of registered bidders who had provided a $50,000 deposit before Tuesday’s auction, held inside a building on the dock. In the end, only he and Cook’s Lobster owner Nick Charboneau volleyed to win the property.
Auctioneer Michael Carey of Tranzon Auction House in Portland started the bidding at $800,000 but with no takers quickly came down to $500,000 and then $400,000 — and within minutes was asking for a bid to best another at $300,000.
Among the three dozen people seeking shelter from the rain inside amid the lobster tanks, Carey paused the bidding twice, once for nearly 20 minutes, after which Charboneau increased his bid to $400,000.
Girard went to $475,000, and the two volleyed until Girard offered $510,000, at which point Charboneau was done.