Rancho Cariñoso, the 4.21-acre horse ranch on the Padaro Lane bluffs with nearly an acre of its own beach, sold at auction on October 8 for $21,275,000. It first came to market in January 2022 at $100 million and rose to $109 million that March, a price that put it among the most expensive listings in the world.

The land came to the Cameron family in 1978, when Artie Cameron bought close to twenty-eight acres on Padaro for $1 million. His son, Arthur A. Cameron III, a polo player and the grandson of the oil man Arthur A. Cameron and the 1940s film star Kay Aldridge, built the present single-story house in 2014 as a beach retreat and a place to ride. Kevin Costner's ten acres are next door, and one property past his is the estate Ellen DeGeneres sold for $96 million in 2024.

Finding the number took four and a half years. The ranch returned in September 2024 at $69.995 million, came back in November 2025 at $48.975 million with Barron and Tessa Hilton of Compass, and went to Concierge Auctions this summer, where the reserve was met and bidding opened at $20 million. Concierge reported the winning bid at $22.55 million on September 17; the sale closed on October 8 at $21,275,000, about a fifth of the 2022 ask.

The value was always in the land. A private trail takes horses straight down to the sand, the parcel is zoned for nine of them, and the beach runs to the Loon Point surf break. The grounds are much of the appeal, with old eucalyptus and cypress, open lawn running out to the bluff, and a natural, unfussed landscape that is beautiful and full of charm. There is also a beach cabana reached by an ATV trail, a launch for kayaks and jet skis, and room to build up to 10,000 square feet around the 2,514-square-foot house.