Sand Castle Drops to $87.5M in La Jolla

LA JOLLA, CALIFORNIA — Sand Castle is now asking $87.5 million in La Jolla, San Diego, after first hitting the market at $108 million. The oceanfront mansion once owned by the late Darwin Deason still stands as the most expensive home listing in San Diego history.

The roughly 13,000-square-foot estate sits in one of California’s priciest coastal enclaves, looking straight out over the Pacific Ocean. Deason, founder of Affiliated Computer Services, built the property as a personal project modeled on the grandeur of the Palace of Versailles in France. He died in December 2025.

Sand Castle, a private home inspired by Versailles

Deason drew inspiration from two of Europe’s most lavish addresses: the Palace of Versailles outside Paris and Hotel du Cap-Eden-Roc on the French Riviera. From there, he designed a home that was not just large, but loaded with detail. Crystal chandeliers hang in the main rooms, gold accents line the ceilings, Greek-imported marble covers the floors, and antique sculptures sit in select corners.

According to The Wall Street Journal, Deason bought the main property and an adjacent parcel for a total of about $26 million. Over six years, he spent another $60 million or so transforming the land into the estate now on the market. By the time construction wrapped, the total investment had reached about $86 million, before a sale price was even set.

That makes Sand Castle feel like more than a house. It is a lifestyle statement. A status play. And in the super-prime property market, that kind of statement often shapes the asking price as much as square footage does.

What $87.5 million buys at Sand Castle

The property is split between a main residence with seven bedrooms and a three-bedroom guest house. The guest house was designed to resemble Le Petit Trianon, the château inside the Versailles complex. Inside the main home, a two-story entry opens to a circular terrace facing the water. There is also an oval dining room that seats 16 beneath a 19th-century crystal chandelier.

Fireplaces throughout the estate were reportedly brought in from France. Custom mosaics by New Ravenna, a Virginia tile maker favored in the high-end U.S. market, appear in several rooms. The property includes 14 full bathrooms and three half-bathrooms. Nearly every piece of furniture was made to fit the spaces.

One corner features a nautical-themed bar said to resemble Deason’s yacht, Apogee. Walnut finishes, onyx marble surfaces, and an 18th-century mermaid sculpture give it a very specific look. Not mass-market. Not ordinary.

The most eye-catching part sits outside: a pool lined with blue Thassos marble tile, then an elevator that carries residents down to a private beach raised about 10 feet above the waterline. The beach is covered in soft white sand reportedly sourced from Augusta National Golf Club. Deason is said to have spent about $40,000 just on that sand.

Why Sand Castle’s price was cut

Sand Castle first came to market in October 2024 at $108 million. But that number appears to have been too ambitious for San Diego, which had never seen a transaction anywhere near that level. Brett Dickinson, the Compass agent handling the listing, told Mansion Global that buyers face a psychological barrier when asked to be the first person to cross the $100 million mark in San Diego.

“Buyers are very cognizant that they would be the first person to buy a property in San Diego above $100 million. That’s going to be a really big deal. So when you’re trying to cross that threshold, sometimes $100 million is too psychologically high for the first person to do it. Now, if we’re below $100 million, we’re suddenly more affordable,” Dickinson said.

That explanation matters because the ultra-prime market does not move like the average housing market. In this segment, sales history, price perception, and prestige can matter as much as lot size or build quality. One number can push a buyer forward. Or send them away.

Even with the price cut, a sale at this level would still shatter local benchmarks. If it sells at the current ask, the deal would be nearly double San Diego’s existing record, set in 2023 when private equity investor Egon Durban paid $44.1 million for a property in the area.

The luxury market is still looking for its next marker

The Sand Castle listing shows how the extreme luxury housing market works. Homes like this are not sold on size, location, or bedroom count alone. The owner’s identity, the story behind the build, and the materials used all help shape the value. So the price may fall, but the narrative stays expensive.

For readers outside the United States, the property offers a window into the top edge of global real estate. Below $100 million, a home like this can still attract super-wealthy buyers looking for both shelter and prestige. Above that level, the pool shrinks fast. Very fast.

Compass and other brokers are now waiting to see whether the lower price can draw fresh interest. If it does, San Diego could soon log a sale it has never seen before. If not, Sand Castle will keep standing as a symbol of very expensive taste — and of how slowly the right buyer can move.

The next move belongs to the market. One bidder could change the city’s record books.