Holyfield Mansion Back on Market for $6.875 after Auction Fails

After failing to sell at auction, the legendary Evander Holyfield mansion in Fayetteville, GA is back on the market for $6.875 million. That’s more than a million less than the pre-auction asking price of $7.89 million. The sprawling 44,000 square foot mansion was purchased by JPMorgan Chase last year for $7.5 million, after Holyfield failed to make payments on his debt, estimated to be at more than $14 million.

The Holyfield Mansion in Fayetteville, GA

The Holyfield Mansion in Fayetteville, GA

Seven bidders participated in the auction, which took place Nov. 16-18, but the high bid of $6.98 million failed to reach an undisclosed minimum at which JP Morgan Chase would be obligated to sell. Apparently the bank has reconsidered what it will take, as the new asking price of $6.875 million falls below the $6.98 million bid.

The opulent mansion sits on 105 acres, and has been featured on numerous TV shows and movies. It has 109 rooms, including 12 bedrooms and 21 bathrooms. There’s also a pool that the listing claims is “one of the largest private pools in the U.S.,” holding 350,000 gallons of water. Other amenities include a boxing ring (of course!), a bowling alley, and a dining room that holds up to 100 guests.

Holyfield isn’t the only sports star whose home is up for auction. The auction for Michael Jordan’s home in Highland Park, IL, which was scheduled for Nov. 22, has been pushed to Dec. 16, 2013. A spokesperson for Concierge Auctions said the delay was because “the interest has been even stronger than we anticipated.”

Michael Jordan's home outside of Chicago

Michael Jordan’s home outside of Chicago

Jordan, who still owns the home, first listed it on the MLS on Feb. 29, 2012, for $29 million, but failed to find a buyer. The 56,000-square-foot mansion comes with a pool, tennis court, putting green, nine bedrooms, 15 full bathrooms and four half bathrooms.

The Holyfield mansion is also not the only home of a famous athlete to drop in price recently. Last week legendary baseball slugger Barry Bonds slashed the price of his Beverly Hills home by $1.5 million, to $23.5 million.

Barry Bonds' home in Beverly Hills, CA

Barry Bonds’ home in Beverly Hills, CA

The seven bedroom, 10.5 bath home spans 17,100 square feet and features European details like hand-painted Trompe L’oeil murals, Venetian plaster, imported limestone and Italian Travertine flooring. Amenities include a home theater, gym, pool, guest house and tennis court.

Which home would you buy if you had the cash? Holyfield’s, Jordan’s, or Bonds’? Tell us in the comments!

Discussion

  • http://savehouses.org/ Gerald Harris

    I think when people buy or construct Mega Mansions they need to take into consideration all factors when acquiring these properties. The most important thing is “Value”! When you choose to build a property that is of your own taste and worth more than anything in that local area it is difficult to determine value, even if you are a Legend in your past Sport. This is an example of what I see time and time again. A 1 million dollar price drop is significant. Also, what other properties are there in this local market to compare this value too? Many of the prices are determined by “name recognition” instead of “Market value”.