California oceanfront estate once listed for $109M heads to auction starting at $20M

Rancho Cariñoso, a 4.2-acre oceanfront estate in Carpinteria, California, is being auctioned after four years on the market. The property was originally listed for $100 million in 2021, with its price later rising and then falling to nearly $49 million earlier this year. Bidding for the estate will now start at $20 million. The luxury property includes direct beach access and a dedicated horse trail.