Johnny Depp's $3 Million Kentucky Horse Farm Fails to Sell at Auction Due to Extremely Low Bids
Johnny Depp is ready to part with his old Kentucky home, but no buyer wants to pick it up.
After originally hitting the market in December for $2.9 million, Depp's 41-acre horse farm outside of Lexington went on the auction block on Friday, but failed to sell. The highest bid was less than half of the property's previous listing price, Rector Hayden Realtors and Halfhill Auction Group confirm to PEOPLE.
The bid of $1.4 million came from local radio DJ Rick Dees, but was rejected for being too low.
"It's not over yet," Depp's business manager Edward White told the Lexington Herald Leader. "There are some people interested in meeting with me."
Depp successfully sold the farm once before, but later bought it back.
The Pirates of the Caribbean star, 54, who was born in Kentucky, reportedly first picked up the farm in 1995 for $950,000, and sold it in 2001 for $1 million. He purchased it again in 2005 for $2 million. The listing agent, Gary Denton of Rector Hayden, has said he doesn't know why Depp unloaded and re-bought the land, especially because the actor's mother had been occupying it. His mother, Betty Sue Palmer, passed away in May 2016 and the parcel is named Betty Sue's Family Farm in her honor.
A 6,000-square-foot house with seven bedrooms, a four-car garage, a one-bedroom guesthouse, three barns, a pool and automatically watered paddocks awaits prospective buyers
The Herald reports the house also has shag carpeting in the kitchen, a television "the size of a queen bed" in the master suite, and "numerous family photos" inside.
WATCH THIS: Matt Lauer's Hamptons Home Is On the Market – for $17.995 Million
The reserve price was not disclosed before the auction. Bluegrass Sotheby's International Realty agent John Scott Durbin told the Wall Street Journal that this selling strategy is common in Kentucky, and serves as a routine way of drawing a crowd for a listing.