tag of $15 million slapped on it.

But -- as revealed exclusively in The Royal Gazette -- Mr. Farmer is set to quit before the sale goes through to fundraise for Massachusetts Democrat Sen.

John F. Kerry's presidential nomination campaign.

Multi-millionaire Mr. Farmer -- who left the Island before Christmas -- briefly returned this week but left again on Monday for his new home in Miami.

Yesterday, US Consul Bruce Berton declined to discuss Mr. Farmer's future in the Island's top US diplomatic post.

But it is understood that, as reported, Mr. Farmer is almost certain to resign before the sale of the Paget mansion, set in 14 acres, goes through. And it is believed he has already removed most of his personal possessions from Chelston in advance of his resignation letter.

A total of nine prospective buyers, all from overseas, who expressed an interest in the house before it was officially put on the market, have already been contacted.

The US State Department declined to name any of them -- although a member of the multi-millionaire Harmsworth family, which owns Associated Press, has been rumoured to be in the running.

Chelston given a $15 million price tag In a press release issued yesterday, Mr. Farmer confirmed that Chelston, which comes with a beach house and private beach, was up for grabs.

He said: "After substantial study and consultation, the decision has been made to sell Chelston.

"The decision was made as part of the State Department's overall effort to manage its overseas assets.'' But Mr. Farmer insisted: "This in no way diminishes our commitment to maintaining a presence in Bermuda.

"In fact, we will be looking for a suitable replacement property in the near future.

"We have substantial interests here and the State Department acknowledges that. It was felt, however, that we did not require 14 acres of property to represent those interests.'' The sale will be handled by Bermuda-based Sinclair Realty Ltd -- which is affiliated to top English fine art auctioneers Christies, which also runs an exclusive real estate arm, Christies Great Estates.

And the estate will be sold as a single unit -- not in separate lots for development. But that does not rule out the eventual buyer attempting to sub-divide the land to build more luxury homes.

Yesterday, Doug Bailey, political man at the influential Boston Globe newspaper, said: "Senator Kerry hasn't indicated what he will do yet -- he says he will make a decision after the President's impeachment hearings are over.'' But Mr. Bailey added: "He is gearing up for it and he has hired a new chief of staff and a new press person.

"Mr. Farmer signed on a week or so ago and agreed to raise funds for him. He is now waiting to see what Kerry does.'' Vice-president Al Gore is understood to have been the front-runner to succeed Mr. Clinton as Democratic presidential hopeful.

But he is said to have been damaged by the fallout from the impeachment hearings and rows over donations to the Democrats from overseas in the last Clinton campaign.

Mr. Farmer landed the plum post in Bermuda after raising millions for President Clinton's first campaign for the White House.

But he would have to resign his diplomatic post to move back into the political arena behind Sen. Kerry.

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