Escape to paradise: Auction ends Wednesday for private island in Bahamas

March 31 (UPI) -- If you have ever wanted to escape to your own private tropical island, here's your chance.

A 730-acre private island in the Bahamas is expected to be sold to the highest bidder at auction on Wednesday.

St. Andrew's, also known as Little Ragged Island, has been listed for $19.5 million by New York auction house Concierge Auctions, in coordination with Stuart Halbert of Bahamas Realty. However, there is no reserve for the listing, meaning there is no minimum bid and the island will be sold to the highest bid.

Bidding on the island began on last Friday and will finish on Wednesday. A $100,000 deposit is required to place a bid.

Concierge Auctions Chairman Chad Roffers described the island as a "blink-and-you'll-miss-it opportunity."

"Matching sellers of one-of-a-kind properties with the most capable buyers on the planet has been core to what we do every day and this private paradise is a perfectly poised property that allows bidders to name their own price," Rofffers said in a statement.

The island is the southernmost of a 100-mile string of undeveloped Bahamian islets and is 10 minutes away from Duncan Town, a small settlement with an airport that is accessible by plane from Nassau, Cuba and Miami, as well as by private jet.

The island also features deep water access on its eastern side, making it accessible to large ships.

The auction house says the surrounding waters are home to fish like grouper, snapper, barracuda, tuna and kingfish.