Core Points - The auction for the property at 6 Jiachen Lane, Suzhou, concluded with a final bid of approximately 59.99 million yuan, significantly exceeding the starting price of 17.46 million yuan, resulting in a premium rate of 243.6% [1][6] - The auction attracted 32 participants despite a high deposit requirement of 1.75 million yuan, indicating strong interest in the property [2][6] - The property is strategically located in the core area of the ancient city, near cultural landmarks and commercial zones, enhancing its investment appeal [7] Auction Details - The auction began on May 6 and was initially scheduled to end on May 7, but due to intense bidding, it experienced multiple extensions, culminating in 163 rounds of bidding [1][4] - The bidding process saw rapid increases, with the price reaching 35 million yuan within the first 15 minutes and surpassing 40 million yuan in the first hour [4] - The final moments of the auction were particularly competitive, with the winning bidder, K5302, making three last-minute increases within 25 seconds to secure the property [5][6] Property Characteristics - The property spans an area of 1,269.14 square meters and features a traditional Suzhou garden style, making it a desirable location for both tourists and locals [7] - The building, which houses the popular Gu Ting restaurant, has historical significance and is well-regarded in the community, further enhancing its value [7]