Published On: Fri, Dec 4th, 2015

Why Neverland Ranch is being eyed by Asian buyers

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How do you sell an iconic celebrity home that’s had its fair share of bad publicity?

That’s the situation facing the owners of Neverland Ranch, the former home of pop star Michael Jackson.

They’ve had the well-known gated estate, now called Sycamore Valley Ranch, on the market since May. So now, after months without a sale, they’re targeting Asia’s super wealthy.

The asking price? About $100m ((£66m) according to a listing on Hong Kong-based Luxify, an online marketplace that specialises in buying and selling luxury items and connecting buyers to dealers.

It makes money by charging for listings and all its transactions are completed offline.

Launched in March, the privately-owned online firm now has offices in Singapore and London, but says about 70% of its 21,000 active buyers are based in Asia.

Which is why co-founder Alexis Zirah says he’s confident he’ll be able to sell Neverland – most likely to a Chinese buyer.

bla

About the Author

Syed Ammar Alavi

- is Lahore (Pakistan) based journalist & writer with 25-year experience in print, wire and broadcast forms of journalism. His major fields of interest are politics, film,tv,sports, climate change and technology