LA
02/10/2011 11:41 am ET | Updated May 25, 2011

Malibu Colony Home Auction Starting At $3.75 Million

For the first time ever, a home in the exclusive Malibu Colony will be up for auction on Sunday, February 13. The opening bid--which was determined by the home's current owner--is $3.75 million, a 55% reduction from the home's original $8.4 million listing price.

The house itself is approximately 4,000 square feet and has four bedrooms and three and a half bathrooms. The focal point of the loft-style home is its open great room, which allows for easy transition between the entryway, kitchen, living area, and screening room. The beach pad also boasts amenities like a jacuzzi tub and sauna in the master bathroom as well as a pool, spa, and barbecue alcove outside. Other unique features include a rooftop deck with ocean views and access to Malibu Colony's famed private beaches.

The house is co-listed by real estate agent Carol Bird and Premiere Estates Auction Co.