From $125 million to $41.5 million at auction!

According to FORBES.com, after sitting on the sale block for more than a year, Miami’s famed Versace Mansion has finally found a new buyer. The Ocean Drive estate, officially dubbed Casa Casuarina, fetched $41.5 million at auction on Tuesday.

At $41.5 million, the sale may be considered a bit disappointing: afterall, it represents a 67% discount off of the lofty $125 million first asked for Casa Casuarina when it hit the sale block in June 2012.

The Ocean Drive estate had also been a regular fixture on FORBES’ list of America’s most expensive homes for sale.