The Hearst Estate in Beverly Hills Is Heading to Auction Next Month

This story was originally published on 3/4/2021; it has been updated to reflect new information.

The Beverly House boasts a rich cultural history. It’s been featured in The Godfather, The Bodyguard, and most recently, Beyoncé’s musical film Black is King. In addition to its time on screen, a few notable guests have walked its halls. Publisher William Randolph Hearst once called this Spanish-style pink terracotta mansion home, while Jackie and John F. Kennedy spent their honeymoon there.

Designed by Hoover Dam architect Gordon Kaufmann, this Beverly Hills estate is undoubtedly a trophy home. In August 2020, it hit the market for $125 million but struggled to sell. Why, you may ask? The answer is quite simple: Most people can’t afford it.

Back in March, the price dropped again to $119 million. Still, no one was jumping out of their seats to snatch this gem up. At the time, New York Post even spoke with the UK-based brokerage Beachamp Estates, which estimated that there are only 20 families that would actually be able to buy this home and keep up with property taxes, maintenance, etc.

This past June, it was reported by Mansion Global that the price of the property had been slashed down to $69.95 million by a bankruptcy court house—making the listing $19.8 million less than it previously was.

More recently, a $47 million offer from Berggruen Holdings Ltd.—a private investment company founded by billionaire Nicolas Berggruen—was accepted, according to the Los Angeles Times. However, in hopes that the historic property will sell at a higher price, prospective buyers have from now until September 14th to place a bid of at least $48 million. The auction will take place at 11 a.m. that day at the Edward R. Roybal Federal Building and Courthouse in Los Angeles.

Some highlights of the 18-bedroom mega mansion include: a swimming pool just slightly smaller than an Olympic pool, a lighted tennis court, terraces that can accommodate 400 or more guests for a seated dinner, and grounds that could host more than 1,000 people. The house’s security system is top-tier, too. Sitting on its own promontory, the Beverly House offers extreme privacy with four security gates and several perimeter housing structures.

Long colonnades, wide balconies, and arched floor-to-ceiling windows complement the rosy home. There’s also a two-story library with hand-carved paneling and a wraparound walkway, as well as a 22-foot-high hand-painted living room ceiling, a spa, a billiards room equipped with herringbone parquet floors, and so on. I think it’s safe to say that this home is absolutely ~unaffordable~ but a true treasure. I’ll be counting the coins in my piggy bank in the meantime.