The largest private island in the Bahamas is set to be auctioned off later this month. The planned auction comes as demand for high-end beachfront properties have increased in recent months as people are looking to build secluded homes for private getaways.

High-end residential real estate company Concierge Auctions said that St. Andrews Island - also called Little Ragged Island - will be put up on auction on March 26. The company said that the island will be auctioned with an opening bid of around $19.5 million.

Depending on the demand, the opening bid could go even higher. The company has sold properties to big-name celebrities and business icons - including Barbara Corcoran, Eli Broad, Michael Jordan, and Cher. Concierge Auctions also sold the home that was featured in the hit television show "Keeping Up With The Kardashians."

St. Andrews Island is one of the southernmost islands in the Bahamas. The 730-acre island has long white sand beaches and uninterrupted views of the Atlantic Ocean. Concierge Auctions said that the island has more than 30,000 feet of shoreline and it is accessible via a 10-minute boat ride from the town of Duncan.

"[The island has] miles of private beaches to wander or a boutique resort with more than enough acreage to add an entire 18-hole golf course," the officials listing for the island read.

Concierge Auction's co-founder and chief executive officer, Laura Brady, said that they are seeing a significant increase in buyers and sellers of "top-tier tropical destinations." She said that the past few months have been conducive to the sale of these types of properties as high-net-worth individuals looking to build their own paradise to get away from all the trouble caused by the coronavirus pandemic.

While the Bahamas may be ranked at a Level 3 by the Centers for Disease Control and Prevention, most of the island is free from COVID-19 cases. Most of the cases are largely centered around large towns, including the capital Nassau on the island of New Providence.

The CDC has issued several warnings, telling travelers to take caution when traveling to a number of Caribbean islands - particularly the Dutch Caribbean island of Curacao, Barbuda, and Antigua.