Just northwest of Los Angeles, a working California movie ranch that helped bring alien invasions and roaring 1920s decadence ...

The property, now on the market for the first time since 1975, offers everything from trout fishing and horseback riding to Nordic skiing and wildlife watching-all with the Teton Range as a backdrop.

There’s a new status symbol emerging among the ultra-affluent, and it’s not worn on the wrist, parked in a garage, or framed and hung on the wall. Instead, it’s sprawling, outfitted with panoramic ...