Bill Koch’s Aspen Estate Heads to Auction, Asking $99M

Bill Koch’s 52-acre Aspen ranch is headed to the auction block.

The billionaire industrialist and art collector listed his Elk Mountain Lodge compound for $125 million in February 2025 with Compass’ Steven Shane.

After failing to find a buyer, the property, now listed at $99 million, will instead move to an online auction through Concierge Auctions, working in cooperation with Shane. The auction will run from July 7 to July 17.

The move to auction is nothing new for Koch, who earlier this year raked in $84 million after auctioning his Western art collection with Christie’s, marking the most expensive Western art auction of all time.

“We thought the best way to determine real honest value is by auction, where you’re casting a wider net than a traditional listing and allowing these ultra-high net worth people to bid and ultimately determine value,” Shane said, noting the limited buyer pool and lack of comparable properties for nine-figure listings.

Founded in 2008, Concierge has been responsible for a number of ultra-luxury sales, including the most expensive home ever sold at auction, a Bel Air estate dubbed “The One” that sold for $141 million in 2022. The online auction site is majority owned by Sotheby’s and Compass, following Compass’ $1.6 billion acquisition of Anywhere Real Estate earlier this year.

Koch originally bought the former event venue at 125 Rooney Circle for $26.5 million in 2007, and added roughly 31 acres in the following years. The property has a nearly 17,000-square-foot main lodge and seven guest cabins.

The auction comes over 10 years after Koch first tried to sell the property for $100 million. In 2016, he dropped the price to $80 million, or $60 million for the original 52-acre parcel with the main lodge and $20 million for the additional 31 acres, the Wall Street Journal previously reported.

Koch sold the 31-acre portion for $14.5 million in 2020, according to property records. In 2022, he listed the remaining 52 acres to rent for $35,000 per night, according to Zillow.

The main residence has eight bedrooms and 10 bathrooms. One of the seven cabins houses a fitness center, and the property also has two hot tubs and two ponds.

“The Aspen property has been an incredibly meaningful place for my family, but the time has come for someone else to enjoy it, and I look forward to seeing its next chapter unfold,” Koch said in a statement.

Koch’s estate has been the latest entry into an Aspen luxury market that has flourished in recent years as the resort town has seen a steady influx of billionaires and restrictive zoning measures have cut off any potential supply increases.

Last year, the wealthy enclave saw more than $2.5 billion in sales volume, up almost 40 percent from the previous year, according to a local market report published by Sotheby’s International Realty’s Tim Estin. While the start of this year saw a slowdown in transaction volume, median sale prices were still up 13 percent from 2025 to over $5.5 million.

In 2024, former casino mogul Steve Wynn and financier Thomas Peterffy set an area record when they purchased former pro hockey player and entrepreneur Patrick Dovigi’s mansion for $108 million, a nearly 50 percent markup from when Dovigi bought it in 2021.

The boom in pricey sales seems to have convinced sellers to test the market’s upper limits. Aspen is now home to the priciest listing in America, a 74-acre estate owned by billionaires Lynda and Stewart Resnick asking $300 million.

Last year, Koch sold his Cape Cod estate for $20 million.