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Marilyn Monroe

Marilyn Monroe's former home has sold for $88 million, less than half the initial asking price.

The spectacular mansion in Los Angeles' Holmby Hills was originally put on the market for $180 million in 2017, before being reduced to $115 million and finally selling at a much reduced $88 million.

The Tuscan-styled mansion was built in 1935 by Robert D. Farquhar for Florence and Charles Quinn, and was subsequently sold to 20th Century Fox co-founder Joseph Schenck.

Marilyn subsequently started a romance with the studio executive and she ended up living in the guest house of the luxurious property.

Thereafter, Schenck sold the property - which features nine bedrooms and ten baths - to actor Tony Curtis as he neared the end of his career.

And after attending a celebrity party at the mansion, Cher and her first husband, Sonny Bono, decided it was their dream marital home.

However, as their relationship began to fall apart, the celebrity duo started living in different wings of the property and they eventually sold it to Ghazi Aita of Monaco.

The iconic mansion - which also includes two guardhouses, a pool, a pool house and fountains - has been on the market for more than three years.

But after the asking price was cut, it has finally sold for $88 million, according to TopTenRealEstateDeals.com.

Meanwhile, in 2017, another of Marilyn Monroe's former homes sold for $7.25 million.

The property in Los Angeles was acquired for $350,000 above the asking price and sold in less than 10 days.

The actress bought the home in 1961 for less than $80,000 and lived there with Eunice Murray, her long-time housekeeper.

Speaking about the property, she once said: "Anybody who likes my house, I am sure I will get along with."