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One of the Yellowstone Club's Great Estates Heads to Auction

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Location: Big Sky, Montana
Price: TBD, previously listed for $28,000,000
The Skinny: The Yellowstone Club, a private ski getaway for the wealthy near Big Sky, Mont., was the brainchild of timber baron Tim Blixseth and his then-wife Edra. The exclusive 13,600-acre club—which provides a private, lift-served ski area to its membership and costs $250K to join—was hit hard by the financial crisis and entered bankruptcy in 2008, with the Blixseths accused of pocketing hundreds of millions of dollars from loans secured by the club's real estate. Now in the hands of a private equity firm, the troubled club continues to operate, and continues to contain some of the country's most expensive mountain real estate. This 15,500-square-foot timber mansion might not be the largest planned for the club grounds—as that honor goes to a 53,000-square-foot, $155M spread called The Pinnacle that would have been occupied by the Blixseths but was never built—but it was still desirable enough to command a $28M asking price before the sellers decided to cut to the chase. Now, the eight-bedroom, 12-bath mountainside home will head to auction on February 18 and sell to the highest bidder.
· 26 Obsidian Road [Concierge Auctions]