British Olympic sailor Ben Ainslee carries the Olympic torch on the first leg of its Britain, Northern Ireland and Ireland tour at Lands End in Cornwall, southwest England May 19, 2012.
Credits: REUTERS/Toby Melville
The auction, created by Sophia Cowburn, 19, of Cornwall, U.K., attracted 226 bids, with a top bid of 150,400 British pounds (about $241,000 Canadian), the BBC reported.
Cowburn put the torch up for sale to raise money for the Invictus Trust, an organization that helps teenagers suffering from mental health problems. She founded the charity after her twin brother committed suicide following a battle with depression, the report said.
But moments after the auction closed, the bidder withdrew.
"We found out it was a hoax bidder," Cowburn told the news outlet.
Cowburn is hoping one of the other bidders will still be interested, and will be willing to make a comparable donation.
She got to be a torchbearer because of her work with the trust. The BBC said dozens of torches have been put up for auction since the Olympic torch relay started making its way across England on May 18. Those who wish to keep their torches as souvenirs have to pay 199 pounds (about $320 Canadian).