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Colony Auctioned

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Pearl clutch! Monocle drop! The Malibu Colony is about to have what's thought to be its first house auction ever. The LA Times reports that a four bedroom house once listed at $8.4 million will be auctioned off next weekend at a starting bid of $3.7 million (with a reserve). According to Redfin, the house last sold in 2002, for $2.1 million. [LAT/Redfin]