Actor Johnny Depp's Fayette County, Ky., horse farm on Versailles Road will be sold at auction Sept. 15.
The property had been listed for $2.9 million.
The 41-acre property includes a 6,000-square-foot brick house with seven bedrooms, a four-car garage, a guesthouse and three barns. The property is set up for a small horse operation, according to the description on the property listing.
It also includes a first-floor master bedroom, a home office, a central vacuum system and double ovens, and all the window treatments are included in the price.
The description also makes clear why the property is so valuable, aside from its numerous amenities: It's next to Westmoreland subdivision, so the property comes with some possibilities for residential development.
The buyer would have to file for a zone change and gauge the feelings of Westmoreland residents before moving forward with residential development, Denton said.
The farm was initially listed at $3.4 million, then dropped to $2.9 million, according to Rector-Hayden Realtor Gary Denton. There had been three offers on the property, but none ended in a sale, Denton said.
Jim Halfhill of the Halfhill Auction Group will conduct the auction, to be held at 11 a.m. Sept. 15 on the farm at 5493 Versailles Road.
It is not an absolute auction, meaning there is a reserve price, the bottom price the seller will accept. The reserve price hasn't been revealed.
The farm was listed for sale in December. The "Pirates of the Caribbean" actor, listed as "John C. Depp," bought the property for $950,000 in 1995 and sold it for $1 million in 2001, only to buy it back through a trust in 2005 for $2 million.
The Fayette County Property Valuation Administrator assessed the fair cash value of the farm, which is close to Keeneland Race Course, at $2.3 million.
Depp was born in Owensboro in 1963. According to "Entertainment Tonight," he bought the farm in 1995 for his mother, Betty Sue Palmer. He has a tattoo on his upper left arm that contains her name inside a heart.
Depp has been engaged in a legal battle with his former business managers amid allegations about his spending and their administration of Depp's money. On Aug. 15, CNBC reported that the former business managers face investigations from three federal agencies.
