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Location: Laguna Beach, Calif.
Price: Bidding opens at $10,500,000
The Skinny: This Saturday, the legendary Villa Rockledge in Laguna Beach, Calif. will go on the auction block. Previously listed for as much as $34.5M, the house will be sold to the highest bidder, with a starting bid of $10.5M. The prominent mansion, which spills over the edge of a cliff on the west side of the highway, was begun in 1918 by architect Arthur Benson, at the behest of hotelier Frank Miller. Miller, the man behind the grandiose Mission Inn in Riverside, Calif., used the 8,000-square-foot oceanfront house as a summer home and continually expanded the villa until his death in 1935. For nearly four decades, the Villa Rockledge sat disused, until electronic parts salesman Roger Jones came along in 1973 and snapped the place up for $420K. Since then, Jones and his wife Sherill have painstakingly restored the classic manse, which now holds 12 bedrooms and 11 bathrooms.
· THE HISTORIC VILLA ROCKLEDGE [Premiere Estates]