Colorado Redstone Castle where Jimmy Buffet was married sells at auction

The historic Redstone Castle near Aspen was recently sold in a live auction.

The historic Redstone Castle has been sold as the result of an Oct. 7, 2016 auction held on the property site, according to Platinum Luxury Auctions, the firm that managed the sale. (PRNewsFoto/Platinum Luxury Auctions LLC)
The historic Redstone Castle has been sold as the result of an Oct. 7, 2016 auction held on the property site, according to Platinum Luxury Auctions, the firm that managed the sale. (PRNewsFoto/Platinum Luxury Auctions LLC)
The historic Redstone Castle has been sold as the result of an Oct. 7, 2016, auction held on the property site, according to Platinum Luxury Auctions, the firm that managed the sale. (PRNewsFoto/Platinum Luxury Auctions LLC)

A Colorado entrepreneur recently outbid three other investors to claim a castle near Aspen.

The nearly 114-year-old Redstone Castle sold to the undisclosed investor for more than $2 million Oct. 7. The deal is expected to officially close in coming days, said Christian Rizzo, speaking on behalf of Florida-based Platinum Luxury Auctions.

The exact purchase price wasn’t immediately disclosed, but the auction required a reserve bid of $2 million. The property was originally listed as being worth $7.5 million, Rizzo said.

The castle was sold by The Ralli Dimitrius Trust. Ralli Dimitrius, a part-time Aspen resident, paid $4 million for the site during an IRS in 2005.

The castle was built in 1902 for industrialist and coal magnate John Cleveland Osgood. John D. Rockefeller, J. Pierpont Morgan and Teddy Roosevelt have all spent time at the location, and in the ’70s, Jimmy Buffet was married at the castle while The Eagles played live on the front lawn. In 2006, the property was used as a backdrop for the film The Prestige, according to a property listing.

The new owner is based out of The Roaring Fork Valley in western Colorado and has other area hospitality and residential holding in his portfolio, Rizzo said.

Subscribe to Denverite’s newsletter here. Business & data reporter Adrian D. Garcia can be reached via email at agarcia@denverite.com ortwitter.com/adriandgarcia.

Adrian D. Garcia

Author: Adrian D. Garcia

Adrian D. Garcia covers business and trends for Denverite. He's covered business for The Fort Collins Coloradoan and serves as treasurer for the Colorado chapter of the Society of Professional Journalists.