An anonymous buyer from Chicago just purchased the 112-acre Robert Taylor Ranch in Mandeville Canyon for $12 million at a live auction on Friday at the property.
The live auction took place on the property, and according to The LA Times, included 12 bidders at the 34-room, 11,700-square-foot sprawling estate. After guests “wined and dined under a canopy on the lawn”, the sale of the property commenced, “conducted by Concierge Auctions of New York in cooperation with Hilton & Hyland”.
The grounds feature rolling lawns, wooded hillsides, a casino and a remodeled estate previously owned by actor Robert Taylor, who passed away in 1969. Founder of Los Angeles radio station KROQ, Ken Roberts, purchased the home in the 1970s for $900,000 and put it on the market in 1990 for $45 million and subsequently dropped the price to $35 million but got no buyers. The home was eventually owned by a trust, and The LA Times says, that trust subsequently decided to put the property up for auction to the highest bidder.
Built in 1950, the home was designed by Robert Byrd and includes seven bedrooms, 17 and a half bathrooms, a 10-car garage, stables and a tennis court, according to LA Curbed.
A statement from Concierge Auctions said, “more than 7,000 interested parties from all 50 states and 97 other countries checked out the property online in the month before the auction. About 760 potential buyers expressed interest.”