Pike’s boss was numb.
Originally, he thought that no matter how bad his company was, soone would still auction it off, and it would at least fetch 15 million US Dollars, but to his surprise, no one was willing to bid or take on the risks and debts.
Everyone in business seeks profit, but purchasing Pike Company not only offers little profit, there’s an initial deficit of 20 million to cover, making it a bad deal. With money on hand, it would be better invested in other recycling companies that, at the very least, haven’t failed and are still operating normally.
As the auction seed soon to fail, the desperate boss of Pike turned his pleading eyes towards the General Sect Leader.
Allen Zhang understood that if he didn’t step in, probably no one else would.
After a mont’s thought, he decided to bid.
"Guest in Seat Number 12 bids 100,000 US Dollars. The current bid stands at 12.1 million US Dollars. Would anyone else like to join the bidding?" the auctioneer hurriedly announced.
"..."
After a silent ten seconds, basically, no one else wanted to raise their bid.
A minute later, the atmosphere grew solemn with silence, still no new bids.
The boss of Pike could only sigh and accept this outrageous price.
Though the bid was for 12.1 million US Dollars, purchasing the company ant the General Sect Leader also had to repay a bank debt of 20.6 million US Dollars, as well as overdue employee salaries, making a total paynt of 33 million US Dollars.
This price indeed matched the market value.
It’s good that it wasn’t left unsold, right?
One should not be too greedy; if not for the General Sect Leader’s bid, he wouldn’t even get 12.1 million US Dollars.
Although he still had to pay a consignnt fee to the auction house and profits to temporary shareholders, the money he ultimately received would only be about 8 or 9 million US Dollars. But at least he wasn’t bankrupt, and with the money from selling his assets earlier, he’d still be a millionaire and enough for a comfortable life hereafter.
Seeing this, the auctioneer could only drop the gavel, "12.1 million once, 12.1 million twice, 12.1 million three tis. Sold! Congratulations to Buyer Number 12 for successfully purchasing Pike Resource Recycling. Please complete the procedures and pay the balance after the auction with Mr. Pike, the forr owner."
Allen Zhang, seeing the company sold, also smiled reassuringly at Pike’s boss, "It’s really unexpected. I thought I would have to spend more, as your company is still of great value if it can overco this crisis. Though I wouldn’t mind spending an extra twenty or thirty million, saving so money is always good."
Pike’s boss could only smile wryly, "I really owe you a great deal of thanks, Mr. Jin. Without your help, I would have got nothing, not even 10 million US Dollars."
"We’re friends; no need for formalities. Didn’t you sell a villa at a low price?" Allen Zhang imdiately waved it off as a small matter.
The General Sect Leader is well-known for his generosity.
Soon the auction continued, with various private collections and collateral being offered at prices of several hundred thousand to millions of US Dollars.
It wasn’t until a Horn Coin was placed on the stage that Allen Zhang beca particularly attentive.
An ordinary-looking silver coin with a sowhat unclear horn imprinted on it, apparently ancient and passed through many hands.
"This coin is one of the rare types from Spain, popular among pirates during the 16th century for better distribution of spoils. To facilitate plundering rchant ships and keep to themselves, pirates established a blood covenant, | promising not to attack each other but only rchant ships and navies, considering breaking it as a betrayal. Whoever owned this coin was quite renowned and considered a Pirate King of the 16th century, symbolizing the alliance and spirit of agreent among pirates."
"Until the mid to late 16th century, when various naval forces aid to dismantle the rampant pirate power, they specifically produced a plethora of counterfeit Spanish coins to instigate internal splits among pirates, eventually demolishing the Pirate Alliance in a naval battle and lting thousands of these coins. Supposedly, only 16 Horn Coins still exist in the world; one was purchased by the collector Madison for 4.26 million US Dollars at a New York auction. Very valuable and aningful for collectors!"
"Estimated market value between 3.6 to 4.3 million US Dollars, starting bid 2.5 million US Dollars, each bid incrent no less than 10,000 US Dollars."
The auctioneer declared the bidding process open, attracting many interested bidders.
Pike, noticing Allen Zhang eager to bid, curiously asked, "Mr. Jin, are you interested in this collectible?"
"I am indeed interested, but not for keeping. I heard collector Madison is also gathering these coins, perhaps I can buy it and sell it to him," Allen Zhang smiled slightly, bidding decisively 200,000 US Dollars when the price reached 3.75 million.
"Guest Number 12 bids 200,000 US Dollars, bringing the current Horn Coin bid to 3.95 million US Dollars. Are there any more bids?" the auctioneer asked.
"4.1 million!" Soone quickly raised a bid. Allen Zhang looked back at the middle-aged tycoon with a hat, who also smiled and nodded in greeting.
Seeing the polite gesture, Allen Zhang reciprocated and raised his bid, "4.25 million!"
"4.25 million US Dollars! Bid from Guest Number 12. If no one else wishes to join the bidding, the Horn Coin will be sold to Guest Number 12!" The female auctioneer, thrilled by the competitive bidding, eagerly fueled the excitent.
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