Soe Nyunt, the current owner, said today the starting bid will be USD 200,000.
Proceeds will go toward helping Aung San Suu Kyi build a new National League for Democracy party headquarters.
The Nobel-prize winner, now 69, permanently moved from London to the lakeside house of her mother almost 27 years ago.
While under house arrest, she would mount a table behind her front gate, holding on the pointed iron spikes as she spoke to supporters through a loudspeaker, touching on everything from corruption to poor standards of education.