Hot Property: The Guess Estate, Benedict Canyon, Beverly Hills, California

Armand Marciano's 20-acre estate is going for 15 per cent less than its market value - unsurprising, perhaps, when you recall that his bankrupt older brother sold his mansion for 23 per cent under value. But unlike the family's riches-to-rags brand Guess, this property is in mint condition.

The house is designed to reflect European elegance alongside Californian aesthetics. Courtesy Mark Angeles - Unlimited Style Photography
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When it was launched in 1981 by the four Moroccan-born Marciano brothers, Guess Inc was credited with reintroducing the dazzle into denim with its 3-zip Marilyns and 5-pocket Lincolns. Cue to the present day, and Guess is hanging by a thread on the periphery of high-street fashion, the brand's legendary stonewashed jeans relegated to the sales rack. Which is not to say that the Marcianos have not amassed their millions - it's just the mansions that they need to get rid of.
This sprawling, 20-acre Beverly Hills estate was designed by Armand Marciano in 2001, with a view to blend European elegance with Californian aesthetics. Accordingly, the villa boasts all the mod-cons - a commercial-grade gourmet kitchen with a pizza oven, gym and game room, home cinema, lift and mosaic-tiled swimming pool - worked into a 30,000-square-foot space with formal living and dining rooms, a breakfast nook, library, nine ornate fireplaces and a wine cellar.
The three-storey main house has seven bedrooms and 13 baths, while the guesthouse has three bedrooms, four baths, a fully equipped kitchen and tennis court; this is a home pointedly designed for large-scale entertaining.
Outside, the estate's long, private drive winds its way through landscaped lawns, orchards, walking paths and fountains, offering views of the neighbourhood's Benedict Canyon ravine, the only canyon that's 100 per cent residential. Fiercely private, it has had the likes of Jimi Hendrix, Roman Polanski, Demi Moore, Jay Leno and David Beckham on neighbourhood watch.
Set upon prime Golden Triangle land, the property was first put on the market for US$63 million (Dh232m). That has now been slashed to $54.5 million, which, if one were to venture a guess, is most likely negotiable.