112-acre Robert Taylor Ranch in Mandeville Canyon has sold at auction for $12 million

The 112-acre Robert Taylor Ranch in Mandeville Canyon has sold at auction for $12 million to an unidentified buyer from Chicago. The 34-room, 11,700-square-foot estate property had recently been listed by Hilton & Hyland of Beverly Hills for just under $19 million. The ranch was built for Waite Phillips, founder of Phillips Petroleum (now ConocoPhillips) and designed by architect Robert Byrd, but is best remembered as the home of actor Robert Taylor until his death in 1969.

12 bidders were hosted at the live auction Friday. The sale was conducted by Concierge Auctions of New York in cooperation with Hilton & Hyland.