Core Insights - A historic villa located on Yuyuan Road in Shanghai is listed for auction with a starting price of 150 million yuan, translating to over 430,000 yuan per square meter [1] - The villa, completed in 1924, has cultural significance as it was featured in popular dramas and is currently operated as a guesthouse with a monthly rental income of 67,500 yuan until 2029 [1][3] Group 1: Cultural and Historical Value - The villa, named "Liulin Bieye," has deep historical roots, having been home to General Feng Zhian, who resisted Japanese invasion during the Lugouqiao Incident [3] - Its unique brick-wood structure, 500 square meter garden, and protected status enhance its rarity and appeal, especially after being featured in the drama "Anjia" [3] Group 2: Market Dynamics - The luxury real estate market is experiencing polarization, with some historic villas selling for exorbitant prices, such as a 535 square meter villa that sold for 270 million yuan in May, while others have seen price drops exceeding 25% [4] - The limited number of clear-title historic villas in Shanghai, combined with reduced foreign demand and competition from new luxury properties, has led to increased volatility in this niche market [4] Group 3: Auction Implications - Bidders must consider a 3% deed tax, and existing rental agreements may affect personal occupancy plans; however, the auction is described as conflict-free [4] - The starting price appears rational compared to previous records, but the auction's outcome will test the resilience of Shanghai's luxury real estate market and redefine the value of cultural symbols [4]