Core Viewpoint - The repeated failure to sell the Guangxi Fumandi Hotel (Agricultural Resources Building) despite significant price reductions over four years highlights a unique situation in the real estate auction market in Nanning, where the property has seen a total price drop of approximately 300 million yuan without any successful bids [1][11]. Group 1: Auction Details - The Guangxi Fumandi Hotel is being auctioned again with a starting price of 149.77 million yuan, translating to about 4,011 yuan per square meter, and the auction is scheduled for June 16 [2]. - The property has a total construction area of 37,345.94 square meters and a land area of 4,937.72 square meters, comprising 28 floors above ground and 2 below [5]. - The auction has attracted 4,624 views and 142 reminders, indicating a level of interest, yet no one has registered to bid [3]. Group 2: Historical Context - The hotel, once a landmark in Nanning and built in 1998, has undergone 24 judicial auctions since the bankruptcy of its parent company, Guangxi Fumandi Agricultural Resources Group, in 2018 [8][11]. - The starting price for the current auction is approximately 7.88 million yuan lower than the 2024 auction price and has decreased by about 300 million yuan compared to the initial auction price in 2021 [11]. Group 3: Challenges and Opportunities - The property has faced multiple failed auctions due to factors such as its aging structure, short remaining property rights, and the requirement for the winning bidder to take over employee labor relations [15]. - Despite these challenges, the location is advantageous, being close to South Lake Park, transportation links, and commercial areas, suggesting potential for revitalization if managed effectively [16][19].