A local auction house, Hammer and Block, was able to get its hands on the document, a letter that was a response to a man who wrote the President in 2009 to vent about big bank bailouts.
"In 2009 he was very upset about the bailout money that was being used to buy AIG to give bonuses to their staff, so he penned a fax to President Obama and about a week later he received a personal note back from him, saying how upset he was," said Neil Hunt, with Hammer and Block.
Hunt said the man was shocked to receive the Obama response, which came on official White House stationary.
The auction house says only two other hand written letters from President Obama have ever gone up for auction in the U.S., one selling for $6,000, the other for $7,000.
Despite the large interest in the letter, bidding didn't reach the reserve price and the letter went unsold.