California horse ranch once asking $109m sells at auction for $22.55m
Rancho Cariñoso was sold at auction for $22.55 million after previously being listed for $109 million.
This estate features 4.2 acres of land and nearly an acre of private beachfront.
The property includes a main house, equestrian facilities, and is near the Santa Barbara Polo Club.
The auction indicated a significant discrepancy between initial valuation and buyer willingness to pay.
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