Bids were welcomed until February 13, the birthday of General Aung San. Soe Nyunt who owned the gate announced the auction on his Facebook page. He started the bid at Ks200 million.
The proceeds would help finance a new National League for Democracy headquarters. Soe Nyunt said he is in the process of legally completing the sale.
The gate was the old one of Suu Kyi's house, where she had spent years under house arrest.