Cher Selling Malibu Home for $85 million

Cher's massive Malibu mansion, a place she's called home for decades, is hitting the market ... at a price fitting for one of music's all-timers.

The Wall Street Journal reports the pop icon listed the stunning home for a whopping $85M, an incredible bump from the $2.95M she bought the place for back in 1989. The Italy-inspired home took five years to build, and it's a true beauty ... with just about all the amenities you can imagine.

The home sits on about 1.7 acres, and opens with 40 Palm trees complete with a courtyard and a fountain. The main residence has 7 bedrooms, a primary suite with a meditation room and two closets, an indoor/outdoor, gym and a home theater.

Apparently, there's also a climate-controlled wig room with up to 100 hairpieces. Not to mention, the whole thing overlooks the Pacific Ocean.