After his death, it passed to Crawshay Bailey, who owned the ironworks at Nantyglo and Beaufort. Bailey recognised the potential of the rich coal seams of the Aberdare and Rhondda valleys and bought up land in these areas in the 1830s. Amongst the lands he acquired was the Aberaman estate, which he bought from the executors of Anthony Bacon II, together with its mansion, by indenture dated 17 February 1837. It was several years before he began speculating for coal. By 1845, Crawshay Bailey had, in partnership with Josiah John Guest, built the Aberdare Railway and, around this time, the Aberaman Ironworks and a number of collieries associated with it were opened. Bailey remained the owner of the Aberaman Estate but despite the profitability of his colliery activities, the depression in the iron trade (see below) meant that the enterprise did not prove as successful as Bailey had hoped so he decided to sell the Aberaman estate and return to Monmouthshire. He disposed of the entire Aberaman estate including its collieries, ironworks, brickworks and private railway, to the Powell Duffryn Steam Coal Co. by indenture dated 2 February 1867 for the sum of £123,500. Bailey retired to Abergavenny.