The Versace mansion is hitting the auction block. The South Beach home has been on the market for more than a year with no buyers. Now, it's up for grabs, but you need to have $43 million just to qualify to bid on it, $3 million to put down and $40 million in assets.
In 1997, the 50-year-old Gianni Versace was killed in front of the 23,000 square foot Ocean Drive property by a man who later committed suicide. But real estate broker says the murder is a non-issue for interested buyers.
"This is real estate's 'Mona Lisa,'" real estate broker Jill Eber said. "It's Casa Casuarina. There's nothing like it. It's one of a kind."
With 10 bedroom suites, 11 bathrooms and a view of the Atlantic Ocean, the 1930s home is more like a four-story palace. Fashion designer Gianni Versace bought the house in 1992 for $3 million and spent $33 million renovating it. His room is even furnished with a double king-size bed.
"Everywhere you look, you see, you feel Gianni Versace," Eber, from The Jills, said.
The Versace mansion has an observatory, 12 well-concealed closets in the master bedroom and a large pool with tiles made out of 24-karat gold.
"All the buyers that are going to be there, they get what this is," she said. "This is one of the most coveted trophy properties in the world, and it's a masterpiece."
Most recently used as a hotel, last year the mansion was listed at $125 million. Then, the price dropped to $75 million. Now, buyers will name their price when it's auctioned off, along with everything in it.
"This is a trophy property," Jason Weld with FisherAuction Company said. "We're calling it the auction of the century. It's a little unusual to have a property of this magnitude to reach the auction block."
The home hits the auction block Sept. 17. The bidding with start at $25 million.