TMZ: Spelling mansion goes for $85 million

The 57,000-square-foot, Holmby Hills estate had been listed for $150 million - and it sat on the market for more than two years. TMZ had reported that the buyer, 22-year-old British heiress Petra Ecclestone, initially offered $75 million. If the report is true, there's bound to be chatter about how this reflects L.A.'s sour real estate market, though these mega-sales tend to be anomalous events. What is worth noting is how many of the big sales have involved foreign buyers. Earlier this year, Russian investor Yuri Milner bought a Silicon Valley home for $100 million.

Earlier: Spelling manor being sold to 22-year-old heiress