Core Viewpoint - The article discusses the recent trend of rare properties being put up for auction in major Chinese cities, highlighting their unique characteristics and the reasons behind their sale [1][11]. Group 1: Property Listings - A traditional courtyard in Beijing's Qianlao Hutong is listed for auction with a starting price of 226 million yuan, marking its first sale in 20 years [1][2]. - The historic Tongqing Guild Hall in Shanghai, a cultural landmark, is also up for auction with a starting price of 600 million yuan [1][4]. - Other rare properties in cities like Hangzhou and Xiamen are also being auctioned, indicating a broader trend of high-value real estate entering the market [4][8]. Group 2: Characteristics of Rare Properties - Rare properties are typically located in core urban areas, possess unique natural or cultural attributes, and have limited availability, often being one-of-a-kind [1][7]. - The Qianlao Hutong courtyard has a price per square meter of 510,000 yuan, reflecting its scarcity and luxury [7]. - The Tongqing Guild Hall, built in 1922, is a historical building with a mix of residential and commercial space, further emphasizing the unique nature of these listings [7][9]. Group 3: Market Trends and Seller Motivations - Since 2025, there has been an increase in the listing of rare properties across major cities, driven by various factors including liquidity pressures and changing investment strategies [1][11]. - Sellers often include wealthy individuals or corporate owners who may be looking to liquidate assets for cash flow or to reallocate investments [10][11]. - The article notes that the current market conditions may provide unique opportunities for buyers, although the number of potential buyers with sufficient cash is limited [11].