The Las Vegas mansion once owned by entertainer Liberace was sold for $500,000, a local realtors association confirmed.
The Greater Las Vegas Association of Realtors said the 15,000-square-foot property sold in an all-cash purchase on Aug. 23 at about $29,000 less than the original asking price.
Brad Wolf, the agent who sold the mansion, confirmed to FOX5 that Martyn Ravenhill bought the house. He said Ravenhill, who brokers vacation properties, is a fan of Liberace and has been in touch with the late entertainer's foundation to discuss what should be done with the house. He said Ravenhill has planned to restore the once decadent home.
In June, FOX5 reported on the sale of the mansion located near University of Nevada, Las Vegas. Realtors said the home was bank-owned and went into foreclosure in 2010.
The home sold for $3.7 million in 2006.
Liberace first bought the home in the 1970s and brought his signature flair to the property. The property was built in the 1960s.
One realtor in the June report said the home was likely to start a bidding war, predicting the home would sell for more than the $529,000 asking price.
Copyright 2013 KVVU (KVVU Broadcasting Corporation). All rights reserved.