Platinum Beach Property

What: Two-story Palladian estate with 10 bedrooms, 12 full baths in almost 20,000 square feet on about two acres.

Where: Barbados

Amenities: 50-foot-long private beach. Full gym, spa, pool and Jacuzzi. Three-bedroom guest cottage with en-suite baths.

Asking Price: $58.25 million

Opening Bid*: $56 million

Listing Agent: Dolly Lenz of Prudential Douglas Elliman Real Estate, 212-891-7113.

Due Diligence: This property, called Cove Spring, sits on the west coast of Barbados along a stretch of beachfront estates known as the Platinum Coast. Built in an Italian Renaissance style, the house is one of several in the area priced above $50 million, including one estate with a listing price near $100 million. Owner Ajmal Khan, the 43-year-old chief executive of New York investment firm Verus International, bought the property in 2002. He says he added a 20-seat theater with an 11-foot screen, outdoor gazebo and glassed-in steam showers, among other amenities. Mr. Khan is selling the house to "see what it's worth on the market," he says, but plans to stay in the area, where he's lived for more than 10 years. The house's master bedrooms have en-suite bathrooms with Jacuzzis and walk-in closets. A covered terrace, with sea views, has a bar and a large dining area. The property's furnishings, including a number of custom-made items, can be negotiated as part of the sale. The house has been rented over the years at $55,000 per week during the winter.

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