The mansion where Italian designer Gianni Versace lived is now up for auction. The South Beach, Florida mansion is going on auction by Fisher Auction Company and is set for the date of Sept. 17 reported the Associated Press.
The 23,000 square foot mansion was built in 1930 and has 10 bedrooms and 11 bathrooms as well as a 54 foot long mosaic pool that is lined with 24 karat gold.
Versace was murdered in front of his property by a man who later committed suicide in 1997. Versace was 50-years-old. He purchased the home in 1992 and spent approximately $33 million to renovate the space
"We are very pleased to have the opportunity to manage the sale of this one-of-a-kind property," said Lamar Fisher, President and CEO of Fisher Auction Company to the AP.
"The property had been operating as a 10-room boutique hotel for several years but closed earlier this year. A bankruptcy court has appointed Fisher Auction Company to handle the sale, in conjunction with Coldwell Banker Residential Real Estate," reported The AP.
The home is called Casa Casuarina. Forbes reported that the property has an intial "stalking horse bid" of $25 million "that it maintains the right to increase as far as $32.7 million - meaning prospective buyers must go over those numbers to acquire the property."
The auction company is handling the same in partnership with the Jills of Coldwell Banker Previews International. Earlier this summer the home, through Casa Casuarina LLC was put in Chapte 11 bankruptcy earlier this summer in order to stop a pending foreclosure.
"The court's decision to auction it off marks the end of a tumultuous series of suits that have been mired down the beleaguered estate for the better part of two years," reported Forbes.
The federal foreclosure suit was filed in December of 2011 by VM South Beach.
This article is copyrighted by Travelers Today, the travel news leader
