Gianni Versace's Mansion to Be Sold at Auction

Posted: Jul. 19th, 2013  |  By DailyLuxe News

The South Beach, Florida-mansion formerly owned by Italian designer Gianni Versace will be sold at an auction on September 17, CNBC reports on a story originated by the AP.

The 23,000-square-foot estate once owned by the deceased fashion designer is now a 10-bedroom boutique hotel. It previously listed on the market at $125 million.

The Fisher Auction Company and Coldwell Banker Residential Real Estate will oversee the selling of the deluxe dwelling, which previously listed at $125 million. It is unknown if the auction will be an absolute auction or if a reserve price must be met. 

Versace acquired the property in 1992 and is reported to have spent about $33 million refurbishing it. It was built in 1930.

Tragically, Gianni Versace was murdered in front of that property on July 15, 1997. He was 50 years old.

Originally built in 1930, the 10-bedroom, 11-bathroom, gated home features a 54-foot long mosaic pool lined with 24-karat gold. It also includes numerous frescos, ornate statues, arched doorways and an open-air courtyard.