Why Chip and Joanna Gaines Are Auctioning Off That Iconic ‘Fixer Upper’ Castle

Calling all Fixer Upper fans: If you've ever wondered what it's like to live in one of Chip and Joanna Gaines's renovation projects, you have the chance now to buy the grandest one of all and move right in. The couple is auctioning off their iconic Cottonland Castle in hopes it'll become "a well-loved home once again," according to a statement. Located on a 1.6-acre property in (where else?) Waco, Texas, Cottonland Castle was first built in 1890 and eventually became a historic landmark in 1977. According to the Wall Street Journal, the castle itself inspired the name for its neighborhood, which is now called Castle Heights.

In 2019, Chip and Joanna Gaines purchased the run-down castle for an undisclosed price and spent three years restoring it to its full glory. And in true Magnolia fashion, the design duo let us watch the entire renovation unfold in their special Fixer Upper: The Castle. (Psst! You can stream the show now on Max.)

Cottonland Castle is regarded as the Gaines's most ambitious project to date, and it's not hard to see why. Spanning more than 6,000 square feet, the castle is filled with old-school features like a card room and butler's pantry. Not only did the couple fill the property with Honduran mahogany paneling, Caen stone, and Carrara marble, but they also built a conservatory for stylish indoor-outdoor living. The result? A castle fit for modern-day royalty.

Though it's more typical to list a home for sale, an auction is a particularly good move for unique homes like the castle because their value can be difficult to pinpoint. Bidding through Concierge Auction will begin on July 20 and end on July 27. Before you put a minimum down on the palatial property, there are a few ground rules you need to know: Approved bidders will need to make a $100,000 deposit and show proof of funds. If a high-stakes bidding war feels a tad too intense, read on to get an intimate look at the place before it's going, going, gone!