Empty for several years after Pickford's death in 1979, Pickfair was eventually sold to Los Angeles Lakers owner Jerry Buss, who continued to care for the home, updating and preserving much of its unique charm. In 1988, it was purchased by actress Pia Zadora and her husband Meshulam Riklis. They announced they were planning renovations to the famous estate, but revealed in 1990 that they had in fact demolished Pickfair and a new larger "Venetian style palazzo" was going to be constructed in its place.
