A palatial La Jolla estate once priced at nearly $13 million is now hitting the market with a rare twist its price tag will keep sliding every week until a buyer takes the plunge.
The coastal property, located at 6389 Castejon Drive in San Diego’s upscale Muirlands community, entered what’s known as a Dutch auction. The $12.985 million starting price will drop by $250,000 each week until someone signs the deal.
A Centuries-old Sales Tactic Meets Modern Real Estate
A Dutch auction isn’t your everyday luxury listing. It’s a centuries-old pricing method that originated in 17th century Holland, where tulips once traded like gold. Sellers use it to stir urgency, steadily lowering the price on a fixed schedule until demand collides with supply.
Listing agent Heather Daum of The Agency explained that this method could be just what the La Jolla market needs. “It also creates a competitive atmosphere. If multiple buyers are monitoring the listing, one may act quickly to secure the property before someone else does. This urgency can lead to a faster sale, especially from motivated buyers who don’t want to risk losing the home by waiting for another price drop,” Daum said.
Daum is marketing the property alongside Mauricio Umansky, founder of The Agency. She emphasized that while the auction isn’t necessarily a direct reaction to the current climate, the local market has clearly cooled. The unique format, she said, can help cut through buyer hesitation.
Why Sellers Are Turning to Dutch Auctions
For the right seller, the system brings other advantages. Daum noted that it draws attention because of its rarity, creating buzz that traditional listings may not generate. “It allows the market to set the price through a structured, gradual price reduction that could lead to a more realistic and competitive offer,” she said, adding that with the “Dutch Auction’s built-in price adjustments, the listing remains dynamic and visible.”
She also pointed out how it can help sellers under pressure.
“It can also be a practical solution for owners under time pressure because of a job relocation, divorce or financial pressure,” Daum said.
Instead of letting a home linger unsold for months, the auction format reveals what buyers are truly willing to pay quickly.
A Mansion Built for Coastal Living
The property itself is no ordinary listing. Marketed as “an extraordinary coastal retreat,” the modern mansion stretches more than 11,000 square feet across a half-acre lot with sweeping views of Mission Beach and the La Jolla coastline.
Inside, six bedrooms and seven full bathrooms are complemented by two half baths and a gourmet kitchen on every level. The main floor boasts an indoor bar, a 180-bottle wine room, and a lounge that opens onto a serene courtyard complete with a cascading water feature. The primary suite, also on the main level, includes a private patio and outdoor shower.
The upper floor is built for entertaining, with formal living and dining rooms spilling out onto an infinity-edge pool, outdoor kitchen and bar, plus basketball and bocce courts.
Car collectors will find the dual driveway leading to an 11-car garage particularly appealing. The home’s reverse floor plan was designed to maximize ocean views, and its open design connects indoor and outdoor living seamlessly.
Location, Location, Location
Beyond the estate’s walls, the property sits within easy reach of golf courses, beaches, hiking trails, restaurants, and even a local school. For buyers seeking luxury paired with convenience, it offers the quintessential Southern California lifestyle.
Now, the only question is how long the price will keep ticking downward before someone grabs the keys.
