No Bidders for Aung San Suu Kyi's Home

— A second auction attempt for the family home of imprisoned former leader Aung San Suu Kyi ended in failure on Thursday, as no bidders appeared, likely deterred by the court-mandated asking price of $142 million. This residence, where Suu Kyi spent 15 years under house arrest and hosted notable figures like U.S. President Barack Obama, is viewed as a significant site in her nonviolent struggle against military rule, which earned her the Nobel Peace Prize. The minimum sale price of 300 billion kyats marked a decrease from the initial auction attempt in March, which sought 315 billion kyats, approximately $150 million at official rates. However, due to the plummeting value of the kyat, the effective market price was closer to $46 million, a substantial sum in a nation grappling with civil unrest and widespread poverty, where nearly half the population lives below the national poverty line. The auction took place in front of the property’s closed gates, which has become a political shrine for Myanmar’s pro-democracy movement. It lasted less than a minute before a district court official announced the absence of bidders, leading to the immediate conclusion of the proceedings. The court will continue to oversee the auction process, although further details remain unclear. The colonial-style building in Yangon was originally given to Suu Kyi’s mother decades ago. Suu Kyi, now 79, has been sentenced to a total of 27 years following her ousting in a military coup in February 2021, with supporters claiming the charges against her were fabricated to undermine her legacy and justify the military's actions.