Chapter 1498 - The Shi Family’s Intentions
Chapter 1498: The Shi Family’s Intentions
Translator: EndlessFantasy Translation Editor: EndlessFantasy Translation
One had to know that many third-tier wealthy families only had less than 20 billion bucks in their total assets. If they were to take out 30 billion, it would be akin to mortgaging all their assets. They might have to borrow a lot of money too. Therefore, if the starting price was more than 30 billion bucks, none of the third-tier wealthy families would have a chance to obtain this fat piece of meat.
If a second-tier wealthy family wanted to fight for this plot of land, they would also face considerable difficulties. Those who could enter the ranks of second-tier wealthy families would have accrued a total of 50 billion in assets. However, this 50 billion was often divided into different areas. Thus, if they really wanted to take out 30 billion, they would still have to spend a lot of money to get a loan.
Therefore, after the auction staff announced the starting price, all the third-tier wealthy families gave up at the same time, and more than half of the second-tier wealthy families gave up as well. Only the first-tier wealthy families participated in the bid, along with Shengyang Group, Eagle Eye Group, and Tianheng Holdings.
Shi Maode glanced at Nangong Yun, who was still hesitating, as well as Shengyang Group and Eagle Eye Group, who had already begun to fill in their numbers. Finally, he looked at Nangong Nuannuan, who had also started to fill in the data without hesitation, and sneered in his heart.
He was long informed of the starting bid before, and he knew how much the land would appreciate in the future.
According to the land auction rules, the floating price of the auction price could not exceed 20%. The starting price of this piece of land was 31.8 billion, and it would be 38.16 billion if it rose up to 20%. If the bid exceeded 38.16 billion, it would be regarded as a failed bid. The executive hall would make adjustments to the land price through the bidding price of this auction and wait for the next auction.
It was normal for failed bids to appear when auctioning land plots. However, this piece of land was auctioned at a ridiculously high price in the first place. Before bringing up the second-tier wealthy families, even first-tier wealthy families like the Shi family would find it difficult to fork out more than 30 billion that they had in their idle funds. In simpler terms, it was easier for first-tier wealthy families to obtain loans because their repayment ability was stronger.
Therefore, Shi Maode believed that none of these people would increase the bidding price all the way to 20%.
Only he knew that even if he increased it by 40%, this piece of land would still bring great benefits as the area developed.
Therefore, Shi Maode wrote 38.1 billion on his page and increased the price by 20%. He only omitted the 60 million yuan.
After filling in the bids, the staff summarized the bids that the bigshots had filled out and then revealed them one by one in public.
“Yarun Group forfeits.”
“Gongsheng Group forfeits.”
“Qingfeng Group forfeits.”
…
The staff listed around a dozen companies and their positions in a single breath; all of them had chosen to forfeit.
After that, the staff read out the bids of three second-tier wealthy families. One increased their bid by 5%, and the other by 6%. However, everyone knew that the price offered by the first-tier wealthy families would far exceed this amount. Therefore, these three second-tier wealthy families proposed the bid to try their luck.
“Ningwen Group, 12 percentage points added, bid 35.61 billion.”
“Welkin Group, increase by 12 percentage points, bid 35.6 billion.”
“Imperial Palace Group, 13 percentage points added, bid 35.934 billion.”
“Shengyang Group, 13 percentage points added, bid 35.9 billion.”
“Eagle Eye Group, 15 percentage points added, bid 3.657 billion.”
When Shi Maode heard the offers listed out by the auctioneer, he was secretly gleeful. He was sure that this piece of land would belong to him.
No one knew about this plan and the Shi family had already removed all news of it, even now.. Therefore, no matter how good anyone’s foresight was, they would at most raise the price point equivalent to Eagle Eye Group, and not more.