Versace's South Beach mansion headed for auction block

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A South Beach, Fla., mansion once owned by Gianni Versace will be auctioned off after the  company that was operating it as a boutique hotel ended up in bankruptcy court.

Fisher Auction Co. and Coldwell Banker Residential Real Estate are handling the sale of the 23,000-square-foot property, once listed at $125 million, with bidding in the Sept. 17 auction starting at $25 million. Source: