OCEAN CITY, N.J. (CBS) – A 7,000 square-foot Victorian style home that was once on sale for $6.5 million is now on the auction market.

Edward and Barbara Idzik say they built their dream home 12 years ago on property they owned along the Ocean City, New Jersey Bay. Since the couple had such a hard time selling their home over the last two years, they decided to put it up for absolute auction, which means there is no definite price put on the home’s value. The suggested bidding price is $2 million.

The Idziks say they want to move closer to their children who live near Philadelphia. “We want to be closer to our children and we have to be willing to sacrifice if necessary,” said Edward Idzik.

Idzik, a retired businessman, admits he and his wife are taking a loss financially. The couple says they put at least $3.5 million of their own money into building the home, not counting what they paid for the land. “We had 12 years of great memories,” said Idzik.

The one -ay auction is May 19th at 11a .m. at 279 Bay Shore Drive in Ocean City, New Jersey.

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