Michael Jackson’s former Neverland Ranch was about to be auctioned off and no one wanted the property.
At the auction, not a single bid was received for the mansion of the late King of Pop. Some even believe that there is a curse on this property that would only have brought harm to the world-famous singer himself. The current owner of the ranch, Colony Capital, bought the property in 2008 while the greatest musician of all time was still alive, as he could no longer pay his loan. But Colony Capital had probably gambled too high when the Neverland Ranch at Taobao Pamei, an auction house from China, which is similar to eBay, was up for auction for 24 hours. The minimum bid was $ 78.6 million and the really stately villa was simply not worth that much to anyone. Many fans still love the kind of pop, but Colony Capital had gone a little too far and wanted to make too much profit from the hype surrounding the late superstar.
The auction price was already significantly lower than the 100 million US dollars that Sotheby’s had estimated at an auction in May. At that time, too, there was not a single bidder. Although the Neverland Ranch is what appears to be a property made for a king, the burden of the past is just too heavy. Also the Name change to Sycamore Valley Ranch does not come against it. After all, it is said of this villa that Michael Jackson completely lost his mind there. But there is still hope for Colony Capital. After all, the company had bought Neverland Ranch for only $ 23 million. Even if the price for the manorial residence of the former King of Pops should fall drastically, there is still a big profit.
Meanwhile, the price has been reduced to 67 million US dollars. However, it remains to be seen whether a buyer will be found.
John Wiley / Wikimedia Commons [CC-BY-3.0]
Visit site for more useful and informative articles!