Versace's Former Oceanfront Home Will Be Auctioned

By  | 

MIAMI BEACH, Fla. (AP) -- The South Beach mansion where fashion designer Gianni Versace lived and died in the 1990s is going up for auction.

Bidding will open at $25 million Tuesday morning for the Miami Beach mansion.

Though the Versace family hasn't owned the oceanfront property since 2000, auctioneers hoped the Italian designer's legacy would attract potential buyers.

It was initially listed for sale at $125 million last year. It operated as a private club and then as a boutique hotel until earlier this year. A bankruptcy court appointed Fisher Auction Company to put the property up for auction.

The mansion has 10 bedrooms and a pool lined with 24-karat gold tiles.

Versace bought the property in 1992. He was fatally shot on his front steps in 1997 by a serial killer.