With a price tag of 80m it is officially the second most expensive home for sale in the world. However experts maintain that with so few potential buyers available, the Lyons Estate in Kildare could be on the market for years before being sold.
Matt Woolsey, who tracks the world's trophy properties for Forbes, the New York business bible, said this weekend that the 600-acre property was second only to Fleur de Lys in Beverly Hills, a faux version of the palace at Versailles, which is on the market for $125m (89.12m).
Lyons Estate is the former home of Tony Ryan, the founder of Ryanair, who died in 2007.
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In his introduction to the 2009 Forbes list of the world's most expensive homes, Woolsey said: "Its going to be an ugly 2009 and the sellers of the world's priciest properties are getting the message."
Woolsey said this weekend that the Lyons Estate would move straight onto the Forbes list at number two because in 2008 and already in 2009 a number of more expensive properties have been withdrawn from the market or their prices have been cut by up to $20m.
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He said this trend indicated that the Ryan family's claim last week that the market for Lyons Estate-type properties in the $100m-plus sector is more or less "recession proof" was not quite true.
"However, if you're an individual with a net worth running into billions, then paying out $100m is peanuts for a home that is truly special, be it for its location, the land attached or other rare qualities," Woolsey said. "There are more billionaires about than there are these types of truly unique properties."
Linda Reilly of Knight Frank estate agents in London said that some high net-worth groups were once again out in force and scouring the international markets in search of luxury homes.
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"The Russian oligarchs are back and buying because they're worried about the security of their banks at home and want to put the money into top-end property in established locations instead.
"Middle East oil money is also expected to be back this year, although traditionally Arab buyers don't start looking until after Ramadan," Reilly said.
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Even so, the agents charged with selling the Lyons Estate will have their work cut out. Woolsey said: "Ireland isn't on the target list for the Russians or many typical buyers of $80m-plus homes.
"Ireland isn't considered to be as upmarket as London or as glamorous as sunnier locations like Beverly Hills or parts of France, but it does have one big bonus in the form of the equestrian segment. Anyone keen on horses should appreciate this sort of property."
Reilly cautioned that it was normal for a property like this to spend years rather than weeks or months on the world market. "The trick is matching the right buyer to the right property," she said.
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Until news emerged that the Lyons Estate might be coming to market, the second most expensive property on the Forbes list was 78.4m Updown Court, a neo-classical style mansion in 58 acres in Surrey.
Larger than Buckingham Palace and designed by John Scholz, an American "starchitect", the house was built using 250 tonnes of marble and boasts 103 rooms, 43 bathrooms, a 50-seater cinema, a selection of swimming pools and a 40ft fountain in the grounds. It has been described as the "Elton John of British mansions".
Savills is seeking a buyer for the house, which is believed to have been owned since 2001 by Sheikh al-Maktoum, the crown prince of Dubai. He is one of the world's wealthiest racehorse owners and exactly the type of buyer who might be attracted to the Lyons Estate.
Late last year, Marty Zweig, an investment adviser, pulled his $70m Pierre Hotel penthouse in New York from the market after four years. Leonard Ross, a financier, took the Hearst Mansion in Beverly Hills off the market last September. He had been seeking $165m.
Also removed from sale was the $135m Aspen ski lodge belonging to Prince Bandar of Saudi Arabia. Donald Trump was more successful, selling his Palm beach mansion for $100m to a Russian oligarch, but only after giving him a $25m discount.
The record for the most expensive house ever sold is the $750m paid last August for a villa on the Côte d'Azur which once belonged to King Leopold of Belgium. Like other deals on this scale this one was concluded behind closed doors.
Ryan bought the then rundown Lyons estate in 1996 from businessman Michael Smurfit for IR£3.5m (4.4m) and then spent millions over three years refurbishing it. There were 100 people working on site to restore it.
Ryan died in 2007, as did his eldest son Cathal shortly afterwards. Nobody from the family is living on the estate and a spokeswoman last week said: "Now is the time realistically to look for a suitable custodian".