Beach bathing box 72 on Brighton beach failed to sell at its weekend auction.
The offer of $176,000 was short of its $190,000 reserve.
''We didn't even really have an auction but we have got some interest and are in discussions with someone,'' Nick Johnstone agent David Urquhart told Fairfax Media.
Title Tattle recalls it was listed in late 2011, but without any disclosed price.
Set on one of the most photographed locales in Australia, the priciest of the weatherboard boxes was $260,000 in 2011.
Bathing boxes existed in Brighton as far back as 1862, with the 85 boxes at Dendy Street being a throwback to the 19th century, when the increasing popularity of sea bathing clashed with Victorian-era prudishness.