Neverland Auction Attracts No Bidders, Chinese Fan Club Considered Purchasing

Sources: Global Times – By Xie Wenting  | All Things Michael

Neverland1

The initial biding price for an auction for deceased pop star Michael Jackson’s infamous residence in California went unmet on China’s largest e-commerce website on Tuesday, as Jackson’s fans in China worry about the future ownership of the house.

The initial biding price for Jackson’s 1,093-hectare Neverland Ranch, which is now called Sycamore Valley Ranch, was 500 million yuan ($79 million) on paimai.taobao.com, an auction website belonging to the e-commerce giant Taobao.

The one-day auction attracted 59,790 page views as of press time, but only one person gave the deposit of 50,000 yuan for a bid, and the bidder did not make an offer during the auction.

“We cooperated with the real estate agency Fangpaipai to put Michael Jackson’s house up for auction in order to attract consumers. Jackson has a vast number of fans in China. His Chinese fans even contacted us about the possibility of buying the house through crowdfunding,” Ma Ying, spokeswoman for paimai.taobao.com, told the Global Times.

According to Ma, Jackson’s Neverland Ranch has been on sale since May in the US, but no one has put a bid on it.

Neverland Ranch was priced at $100 million in May when it was first put on the market after the singer’s death, according to a Daily Mail report.

Jackson purchased the property in 1987 and moved out in 2005.

Zhang Rui, president of the Michael Jackson Chinese Fan Club, which has more than 400,000 fans, told the Global Times that the fans initially wanted to buy the house through crowdfunding, but they eventually found the tactic would not work.

“We are unable to raise so much money among fans to buy the house. Besides, the maintenance fee for the house is also too high for us,” said Zhang. “I hope a rich Michael fan can buy this house and preserve its original style.”

Taobao Paimai has previously held auctions for the chance to dine with celebrities.

Read more here

4 thoughts on “Neverland Auction Attracts No Bidders, Chinese Fan Club Considered Purchasing

  1. One of the reasons we didn’t move back to CA was because the market (and taxes) is so high. If Colony wants to unload it, they may have to drop the price. It’s a huge loss for them if they don’t.

  2. Don’t even know what to say… One person who could afford to buy the house and who would have a reason to want it is Janet but don’t think that’s likely to happen.

    • Maybe this is divine intervention of some sort. I don’t think Janet will buy it either. Neverland is too expensive to keep up. Anyways, I wonder what the steps will be since no is interested? Will they drop the price? According to what I read, the CA real estate market is very expensive. I’m not a real estate expert, but I think that this is what they might try next.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s