Michael Jackson once again made the headlines as his Neverland Ranch estate is still out on the market. As per Celebrity Net Worth, the ranch is put up for action with a starting bid of $78.6 million. It is up on the Chinese version of eBay, "Taobao Pamei."
The ranch is up for bidding over the past 24 hours, and it has ZERO bids. The current owner, colony Capital, decided to place it on the market after they acquired it back in 2008. They took the property after Michael Jackson defaulted on the mortgage.
The website then added that the $78 million (starting bid) property not only has 0 bidders, but it was reported that only one person signed up for the auction. This isn't the first time that the Neverland Ranch (now known as the Sycamore Valley Ranch) was placed on the market. Just this year, the property was also auctioned by Sotheby's International Real Estate, but it has a poor auction showing. The starting bid reached was $100 million back in May, unfortunately, nobody was interested with the property.
Nobody seems to take interest in the 2,700 acres space, 12,000 square foot mansion, amidst the fact that it has 2 separate guest houses, and high historical value. As per the website, it might have been that one of the reasons on why nobody's taking the property is because of its legendary oddities.
As per previous reports, the King of Pop used to invest in "bizarre Charles Foster Kane-like collection of oddities and strange pets." This however is just an urban legend.
His previous estate may have zero takers, but that doesn't stop Michael Jackson from cashing in millions of dollars. As per Realty Today, the King of Pop is continually increasing his net worth as he still receives his share form "This is It" and the Cirque show, "Michael Jackson: Immortal World Tour."
