TODAY   |  July 23, 2013

Inside Miami mansion where Gianni Versace lived

The multimillion-dollar mansion that was the home of fashion designer Gianni Versace until he was gunned down on its steps 16 years ago is going on the auction block. NBC’s Janet Shamlian steps behind the gates to get an exclusive look inside.

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>>> we are back at 8:39. looking for a get away place on miami beach , well the mansion that once belonged to johnny versace is on the auction block. janet is there. good morning.

>> good morning to you. this is where he once lived and, in fact, it's on these steps where he was gunned down now 16 years ago. this infamous multimillion dollar mansion is set to go on the auction block in september and this morning we have an exclusive look behind these very gates.

>> reporter: in a prime location on south beach , once a home to versace , it is up for auction.

>> i believe it's probably one of the most one of a kind unique properties that's ever been able to be brought to the auction process. this is going to be the auction of the century.

>> the home was built in 1930 . 23,000 square feet , 10 bedrooms and 11 bathrooms. with a tile pool outside, and museum quality frescos inside and a look at the ocean.

>> it's opulent and showy and everything he was.

>> the designer bought the mansion in 1992 for close to $3 million and spent a reported 33 million renovating it.

>> it's an amazing place. wild parties. he called upon everybody from princess diana to cher, elton john .

>> versace was murdered on the front steps in 1997 . shot to death by a suspected serial killer . three years later it was bought and converted into a boutique and private club . it was listed for sale at $125 million last year. this pay the price is reduced to 75 million.

>> there's nothing that is iconic like this. has the history, the beauty, the location. it's priceless. it's hard to set a value on something like that because it's only one.

>> reporter: it's now in bankruptcy court and will be auctioned off september 17th with a starting bid of 25 million.

>> there's never been a property like this sold through the auction process. to me it will make the record books.

>> it's to own a piece of south beach history.

>> reporter: now we have now moved out to the modest pool where conceivably the new owner could be lounging by october after the september auction. it will take a couple of weeks for bankruptcy court to approve the sale. and if the prospect of decorating 23,000 square feet is daunting, no worries, all furniture is included.

>> well, that's bargain. this is where you dive off into the pool and say good-bye.

>> i'm thinking no.

>> you're having a good hair day. don't do that. coming