Banner Elk mansion previously listed for $3.5M could sell for pennies on the dollar in auction

BANNER ELK, N.C. (WTVD) -- A nearly 7,000 square-foot estate ideally situated with breathtaking views of the Blue Ridge Mountains will be auctioned off.

The estate, which is located in the Elk River subdivision in Banner Elk, is owned by members of the Fisher family, developers of the "Body by Fisher" car design for General Motors.

The mountain retreat sits on 4.28 acres and was built in 1993. The estate has been upgraded some and features four bedrooms, six full bathrooms, and one half-bath.

"We are very pleased to have the opportunity to manage the sale of this magnificent estate with amazing views of the Blue Ridge Mountains," said President and CEO of Fisher Auction Company Lamar Fisher. "Given its one-of-a-kind location, we feel this property will draw significant attention from many prospective buyers."

The auction will be conducted online June 5-7 by the Florida-based Fisher Auction Company.

There is no minimum bid and prospective buyers could land the estate for pennies on the dollar.