A palatial beachfront villa with a PICASSO in the swimming pool is to be auctioned off without a reserve. El Martinete, near Marbella, Spain, was previously owned by Antonio El Bailarin, a Spanish Flamenco dancer. A a close friend of the famous artist, Picasso was a frequent visitor to the house.

In a stay in 1961, Picasso signed the bottom of the outdoor pool, giving the El Martinete home a unique piece of artistic heritage.

Inspired by Renaissance architecture, the villa offers the ideal home for entertaining. Boasting a grand foyer, the villa is complete with marble columns and moulded ceilings, which leads to a modern kitchen, dining room for 20, indoor pool with sauna and five luxurious bedroom suites. The bottom of the pool is marked by Picasso, drawn and signed personally.

All four floors are serviced by a lift, including the roof terrace with kitchen, dining area, bbq and hot tub. Additional outdoor areas include exotically landscaped gardens and a raised beach terrace, a rare feature for properties in the area with direct, private access to the beach. Two guest houses offer a further three bedrooms and three bathrooms and there is additional staff accommodation. Underground car parking for up to six cars is available.

The home, in Puerto Banus, has previously been on the market for €15 million (SGD$27m) , will now be sold by Concierge Auctions without a reserve.

Bidding on El Martinete will open on May 29 and will go to the highest bidder on May 31.

Charlie Smith, European advisor for Concierge Auctions, said: “Beachfront properties are rare in this sought-after area of Southern Spain and beachfront villas offering this level of luxury living even more so.

“El Martinete is truly unique. The buyer of the villa will not just be purchasing one of the region’s most prestigious properties, but also a one-of-a-kind piece of art, in the unusual feature of the swimming pool, signed by Pablo Picasso himself.”

Puerto Banus is one of the most famous marinas in Europe and is home to a wide selection of restaurants, hotels and boutiques. Marbella is reached in 15 minutes by road and Malaga Airport, offering international flights, in 40 minutes.

The property is open for preview daily, from 1pm to 4pm, or by appointment.

To book an appointment or to register to participate in the sale, visit the auction site here.