More than two years after Prince's death, his estate is finally ready to sell off one of his luxury properties, a sprawling 10,000-square-foot Caribbean hideaway that the late music icon bought for nearly $13 million in 2010.
Comerica Bank and Trust, the administrator of Prince's multi-million-dollar estate, which has been tied up in probate court in Minnesota for two years, announced Monday that bids for his villa, known as Turtle Tail, on Turks and Caicos are due July 12.
Be forewarned: It won't be cheap. You have to put down $100,000 in a registration fee. There is a reserve price, which the sellers don't have to disclose but buyers can expect to pay north of what Prince paid. The winning bid will be announced about 48 hours after the July 12 deadline.
The property is described by the auction house, Premiere Estates, as a "private oasis" for Prince, who acquired the estate and several surrounding parcels of land totaling more than five acres on Providenciales in Turks and Caicos, the British Overseas Territory in the northern Caribbean.
The compound features six bedrooms, six full and one half-bathrooms, a tennis court, two private white-sand beaches, a tropical garden and a 200-foot personal dock.
The main villa has ocean and marina views, a high-end kitchen, a covered terrace with a cocktail area, a master suite with his and hers walk-in closets, a gym and studio, media room and home theater. There's also an attached guest wing and an adjacent guest house, plus a separate, three-bedroom staff house.
And it's unmistakably Prince's villa: He painted the driveway purple to welcome guests.
"This was Prince's pride and joy, his getaway, this was his place of peace and tranquility," says Todd Wohl, a partner in Los Angeles-based Premiere Estates. "He loved the island and took tremendous pride in the estate, and painting the driveway purple was a symbol of what the house meant to him."
So how many bidders are expected? No idea, says Wohl. How much can they expect to pay exactly? It's up to the market, says Wohl.
"It's only worth what buyers are willing to pay," he says. "It's the Mona Lisa effect: It's worth what the market is willing to bear."
While pricey, Turtle Tail is probably not the most expensive asset in Prince's estate when measured against, say, his recorded and unrecorded music archives.
Sorting out Prince's messy estate — he did not leave a will before dying of an accidental overdose of the opioid fentanyl on April 21, 2016 — has been costly and time-consuming, requiring an army of lawyers and consultants.
His heirs — his six siblings — still don't know how much they will inherit, let alone when they will get it.