Shenzhen Villa Valued at 200 Million Yuan Fails to Attract Buyers at Auction
A villa in Shenzhen valued at 200 million yuan was put up for auction on December 24th but failed to sell, receiving no bids. This news quickly became a hot topic on December 26th.
According to the Ali Judicial Auction Platform, at 10:00 on December 24th, it was announced that the auction had ended with no bidders, stating, “This auction has failed with no bids!”
The auction listing described the property as “Shenzhen Guanlan Street Golf Avenue Guanlan Lake Golf Mansion *Manfei District E4 Building Real Estate and related facilities and equipment (Eighth time)”, with a starting bid of 66,733,675 yuan and an appraisal price of 211,475,000 yuan. Participants were required to pay a deposit of 13,340,000 yuan.
The auction page listed information from eight auctions held between November 26, 2024, and December 24, 2025.
The information from the first auction on November 26, 2024, showed an initial bid of 128,730,800 yuan, which failed due to “no bids!”
Despite the starting bid being over 130 million yuan lower than the appraised value, the property still failed to sell in the recent auction.
As per the auction announcement, the total area of the property is approximately 3,935.02 square meters with a total of 6 floors (4 above ground and 2 underground) and a large private garden. The announcement also mentioned outstanding property management and related fees totaling 2,158,574 yuan, along with unpaid electricity bills of 103,130 yuan.
According to reports from Jimo News on December 25, the property is related to the “Zhongkechuangxi Case” in Shenzhen.
Many netizens expressed their opinions on the villa being discounted by over a hundred million yuan but still failing to sell.
“Jianghu QiushuiD” commented, “1. The market is sluggish, making it hard to make money; 2. The previous owner faced enforcement actions, with eight failed auctions, which is not a good sign; 3. There’s no need to buy it, as it’s more cost-effective to buy a new one with the money now.”
Netizen “Dayu Shiyexiongzuo” said, “Only fools would buy it! It’s not a quality asset itself (previous owner being arrested, inauspicious, unclean), and with over 2 million yuan in property fees owed, buying this house would be like acting as a scapegoat.”