22-year-old Heiress Buys $150 million Spelling Mansion

"The Manor," as the property is known, had a list price of $150 million that didn't budge during the real-estate downturn that sent prices in Los Angeles down by more than a third. The sales price was not disclosed.

The buyer, Petra Ecclestone, will be splitting her time between London and Los Angeles after her planned August wedding to entrepreneur James Stunt, according to a spokeswoman. The young, pointless socialite also owns a six-story house in London's Chelsea neighborhood purchased for £56 million ($90.9 million), according to press reports.

WTF?

Photo: Realtor.com