Will Michael Jackson’s Neverland ever sell? Asian buyer with US$100 million to spend now sought on Hong Kong’s Luxify after US market sale flops

Hong Kong luxury online marketplace Luxify has added a new big ticket item as it attempts to sell Michael Jackson’s Neverland Ranch to Chinese buyers for a cool US$100 million.

Located in Santa Barbara County in California, the property is now managed by the late singer’s estate and has been renamed Sycamore Valley Ranch. It was formerly taken over by Tom Barrack’s private-equity firm Colony Capital in 2008. The firm still maintains a small stake.

WATCH: Take a virtual tour of one of the world’s most famous celebrity retreats

Jackson officially lived there from 1988 until shortly before his death in June 2009, but reports show he spent less and less time there after a police raid in 2003 linked to child molestation charges.

Start-up Luxify, dubbed an eBay for the super rich, is now marketing the King of Pop’s 12,598-square-foot (1,170-square-metre) former residence and its 1,091-hectare estate for HK$775 million (US$99.99 million) to Chinese, Hong Kong and Asian buyers.

SEE MORE: Make your bid for Neverland here

“Chinese wealthy individuals are looking to invest abroad for financial and immigration reasons and the Michael Jackson aspect has quite a big resonance in China,” said Alexis Zirah, co-founder of Luxify.