The landmark Miami mansion where the late fashion designer Gianni Versace was shot dead has been sold at auction for $41.5 million.

The original asking price was $125 million.

The landmark home boasts 10 bedrooms, 11 bathrooms and a pool inlaid with 24-karat gold.

In 1997, Versace was gunned down at the entrance by serial killer Andrew Cunanan.

The new owner is Jordash jeans magnate Joe Nakash, who says the mansion is a piece of history.

"I believe it's worth a hundred million dollars, easy. I got it very cheap." He's planning on putting a plaque here in Versace's honour.

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