"The seller is just motivated to sell because he wants it sold by a certain date and the property has been on the market for an extended amount of time," Tony Fitzgerald, a broker with Premiere Estates Auction, told Forbes.

The home boasts six bedrooms, nine and a half bathrooms, a master suite with dual baths and two dressing rooms, a 90-foot great room, an oceanfront gym, indoor and outdoor kitchens, a home theater room that reportedly cost $1.5 million to build and a library outfitted with a saltwater aquarium. The 4,500-square foot outdoor patio, which looks out over the Pacific Ocean with 180-degree views, has an outdoor kitchen and 75-foot, two-lane lap pool. The home has 150 feet of direct oceanfront footage, plus an additional 40 feet of unobstructed beach.

If the property auction is successful, it would sell at a hefty discount to the original asking price of $65 million.

In July, the most expensive home in the U.S. sold, also at a bargain rate.

The $150 million mansion was sold by Candy Spelling, wife of the late TV producer Aaron Spelling, to 22-year-old Petra Ecclestone, daughter of British self-made billionaire and racing boss Bernie Ecclestone.

The Formula One racing fortune heiress picked up the 57,000-square foot Los Angeles mansion for a song at $85 million.

-- Written by Miriam Marcus Reimer in New York.

>To contact the writer of this article, click here: Miriam Reimer.

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