A landmark building known as the "Yongxing Silver Building" in Yongxing County, Chenzhou City, Hunan Province, was recently put up for auction. According to the judicial auction website, the building has a pure silver content of 70%, utilizing a total of 1.75 tons of pure silver, with an assessed value of 12,047,000 yuan. This translates to a unit price of just 6.88 yuan per gram of pure silver, sparking widespread discussion among netizens.
On February 1, it was observed on the Alibaba Judicial Auction platform that the consignor for this auction is Hunan Xinda Silver Industry Co., Ltd. The assets being auctioned include a parcel of industrial land, above-ground structures, nursery stock, the silver from the silver building, as well as Buddhist statues and sculptures located at the site at 256 Yongxing Avenue, Bianjiang Street, Yongxing County.
According to a ruling (Case No. (2025) Xiang 10 Po 13) from the Chenzhou Intermediate People's Court of Hunan Province, the court accepted the bankruptcy liquidation case of Hunan Xinda Silver Industry Co., Ltd. (referred to as Hunan Xinda) on August 15, 2025, based on an application from the involved parties. The platform announcement shows that the assessed values are as follows: land at 9,181,200 yuan, above-ground structures at 9,426,556 yuan, nursery stock at 309,566 yuan, and the silver from the silver building at 12,047,000 yuan. Additionally, the Buddhist statues and sculptures are valued at 406,866.67 yuan. The total assessed value of these assets exceeds 31.37 million yuan, with a starting bid price set at 25,096,950 yuan.
The auction took place on January 16, with two registered bidders. However, it ultimately ended without a sale due to a lack of bids.
The most notable item in the auction is the silver building, commonly known as the "Yongxing Silver Building," a local landmark in Yongxing. Located within the "China Silver First Square" scenic area in Yongxing County, this silver building is a Chinese Silver Culture Museum invested in and constructed by Hunan Xinda Company. Completed in 2007, it features a plaque inscribed with "Tianxia Yinlou" (天下银楼).
A price assessment report submitted by Hunan Xinda to the platform stated that, according to publicly available media reports such as an article titled "Yongxing Silver Building: Five Wan Liang of Silver Here" from the Yongxing County Media Center and "Five Wan Liang of Silver Here, A Silver Building Worth Over 10 Million Yuan is Quite Ostentatious" from China News Service, the building is constructed from 50,000 taels of silver. The assessment report also mentioned that, based on the "Meeting Minutes on the Silver Building's Value," the silver price reference date was January 23, 2025. There were no objections raised to the total silver weight of 50,000 taels, and it was unanimously agreed that the pure silver content is 70%. This means the 50,000 taels (2.5 tons) of silver contain 1.75 tons of pure silver, assessed at a unit price of 6.884 yuan per gram.
Given the recent significant surge in silver prices, many netizens commented that the "Yongxing Silver Building" is being sold at a bargain-basement price, almost like being given away.
Why was the building so cheap and still received no bids? Some netizens suggested it might be related to a restrictive clause in the auction announcement stating that the "purpose must not be altered without authorization."
It was noted that the auction announcement for the Yongxing Silver Building contains six special notes. The fifth note specifies that the successful bidder must continue to maintain the asset's core positioning as the "China Silver Culture Museum (Tianxia Yinlou)" cultural tourism scenic spot, strictly adhere to its established planned function and operational direction, and must not擅自变更用途 (change its use without authorization), ensuring the sustained and stable operation and long-term development of this cultural tourism project.
The announcement described the China Silver Culture Museum (Tianxia Yinlou) as a core asset of Xinda Silver Industry. It is a key cultural tourism flagship project heavily planned and developed by the local area, leveraging the strong industrial foundation and unique silver culture of the "Silver Capital of China." This project is not only a crucial vehicle for Yongxing to promote the deep integration of culture and tourism and achieve industrial transformation and upgrading but also holds significant strategic importance in the "Comprehensive Plan for the Development of Yongxing County's All-for-One Tourism (2017-2025)" and the "Outline of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 of Yongxing County." Yongxing is renowned as the "Silver Capital of China without silver mines." The China Silver Culture Museum (Tianxia Yinlou) is the only landmark building in China made entirely of silver and serves as a core cultural symbol of the "Silver Capital of China."
On February 1, a staff member from the asset management consignee was contacted by phone. The staff member stated that they are currently seeking interested buyers for the Yongxing Silver Building for negotiations and will relist it on the platform once a suitable prospective buyer is found.
The staff member revealed that, according to requirements from local authorities, the project must maintain its core positioning as a cultural tourism scenic spot. The purchaser is required to continue its established planned function and operational direction; therefore, demolishing the silver building after purchase is not permitted.
The staff member also indicated that in the subsequent auction, the silver building will still be listed with the assessed value of 12,047,000 yuan (unit price 6.884 yuan/gram) and will not be revalued based on the recent surge in the market price of silver.
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