CLICK ON THE PHOTO FOR A GALLERY OF THE BECKHAMSThe former England football captain was said to be particularly sad to sell the house, but the decision came as "the beginning of a new era for the family," who have moved back to London after David's contract with LA Galaxy ended stateside.
"There so many memories there," an insider told The Sun On Sunday. "They have had years of happiness in the home, but now there is practically no need to keep it."
Now that the Beckhams are back in the motherland, David and Victoria are said to be looking for a new home in West London, close to where their four children go to school.
The hefty price of the house reportedly includes the sale of several of David's luxury sports cars, including two Jaguars and one of his favourite Ferraris. On top of that, David and Victoria are said to have thrown in the family's $4.3 million holiday home in France.
The football legend and the former Spice Girl reportedly have their eyes on a $75-million four-storey mansion.
It seems that the couple are looking to their close friends to help with the design of the house. Gordon Ramsay has reportedly been asked to design a state-of-the-art kitchen, while interior designer Kelly Hoppen could help with the overall look.
The Beckhams will reportedly move out of their home after Christmas, to give the "thrilled" husband and wife new buyers a fresh start to the year.
It is thought that the Beckhams will spend the school year in the UK, and jet back to their old home of Los Angeles during the holidays to catch the Californian sun.