The haunted island of Poveglia is one of the world's scariest places on earth. This creepy island is 17-acres of ghost ridden madness. Surprisingly, the Italian Island of Poveglia will be auctioned off in May, 2014. This island has been dubbed the "Scariest Island in the World"...but why is that?

Poveglia is located in the Venetian lagoon between Venice and Lido. It's being sold by the Italian government in an effort to cut the government's debts. The state plans on auctioning off a 99-year lease for use of the island with a minimum bid of €350,000 ($490,000).

The mysterious uninhabited island holds a former hospital, which has been closed since 1968. It's technically off-limits to the public, although thrill-seekers and ghost chasers have been known to explore the abandoned grounds.

So what makes Poveglia the most haunted island in the world? Well, the island was used in the 18th century as a quarantine station for people with infectious diseases. It was also used as a mass burial ground for those with the plague, the ghosts of whom still haunt the island to this day.

Not only that, but Poveglia opened up a mental hospital for the elderly in the 1920s. Legend has it that a mad doctor conducted experiments on his mentally-ill patients. Eventually, the doctor was tormented by ghosts that drove him to jump off the asylum's bell tower to his death.

It's been suggested that Poveglia be redeveloped as a youth cultural center or a plush resort once it's been sold. But knowing the island's eerie past, how successful do you think this really would be?

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