Cher Relists Malibu Home With $10 Million Price Cut

Cher is once again looking to unload her massive Malibu mansion ... putting the estate she's called home for decades back on the market, at a reduced price.

Real estate sources tell TMZ ... the pop icon's oceanfront property is now going for $75 million, which is a sizable reduction from the original $85 million price tag.

Remember, Cher listed the home back in October, but it never sold and was taken off the market ... and on Friday afternoon it was relisted.

The Italy-inspired home is a true beauty ... with just about all the bells and whistles you can imagine, including a home gym, infinity pool, home theater and tennis courts.

The home rests on 1.7 acres and overlooks the Pacific Ocean ... and the grounds are dotted with 40 palm trees, plus a fountain and a courtyard.

The main residence features 7 bedrooms, most notably the primary suite, which is decked out with two closets and a meditation room.

And, get this ... apparently, there's a climate-controlled wig room storing up to 100 hairpieces ... where else are you going to find one of those?!?

Cher originally bought the place way back in 1989, plunking down $2.95 million.