The Beartooth Ranch, formerly owned by film star Mel Gibson is back on the market. The ranch totals 12,350 deeded acres and is listed by Hall & Hall for $29.8MM. Gibson owned the ranch from 1988 to 2005, and then sold reportedly on a handshake to adjoining neighbor Kent Williams, who created Montana Silversmiths. The ranch was a registered Angus producer under Gibson's ownership, but was converted in part to a horse boarding facility under Williams's ownership.

Andrew Rahn from Montana Land Source had the privilege to help appraise the property for Mel Gibson. The ranch was not run as a movie star retreat property, but rather as a bona fide registered cattle operation. Also of interest, Gibson sold small acreage inholdings along the Stillwater River to long-time ranch employees, which diminished the exclusivity of the property and potentially impacts the marketability in a market where high-net-worth buyers put a premium on privacy and exclusivity. However, the ranch is a unique offering in the current Montana land market, which has a low supply of large high-amenity recreational properties.