DYER | Meyer's Castle is not bankrupt and did not auction any of its property Saturday.

In actuality, the castle is having one of its most profitable years, said Daniel Urquiza, whose family owns the castle.

Urquiza and his father, Sergio Urquiza, have been dealing with confused customers and friends who thought the castle was going bankrupt after reading advertisements printed in local newspapers last week.

The ads announced that an auction would be held Saturday at Meyer's Castle, 1370 Joliet St.

But the Urquizas say the ad misrepresented the auction and led some people to believe the castle was hosting the auction to avoid bankruptcy.

After Virginia-based Midwest Classic Auctions ran the ads, it later ran ads clarifying that Meyer's Castle is not on the auction block.

The notice says the castle was leased as a venue for the public auction and that the original ads may have misled the community to think the castle was being auctioned.

Auctioneer John Mohammed said the ad said it was a developer's collection being auctioned and that everything was cleared up.

To the Urquizas, it's not that simple.

Their attorney, Mark Gruenhagen, said even the suggestion that Meyer's Castle could go bankrupt hurts their business.

"It's really unfortunate, because Meyer's Castle has an incredible reputation in Northwest Indiana," he said.

Couples who want to get married there might change their mind if they think the place is going out of business, he said.

Gruenhagen would not comment on whether the Urquizas would file a lawsuit. He said the matter is upsetting and he hopes to resolve it amicably.

Daniel Urquiza said the ordeal was "a disaster." He refunded money for those who paid to park at the castle for the auction but left after learning it wasn't the castle's items that were being sold.

Some customers left because they were dissatisfied that many of the items on the auction block were not originals. Items included artwork, jewelry, rugs and more.

Mohammed said people need to study items in advance of the auction so they know what they are bidding on and what they are willing to pay. They should research the different types of lithographs, he said.