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Chapter 93: The Crazy Rewards
Three different auction methods were arranged in order, and there were actually many purposes and clear objectives within them.
The first stage auction involved essential items for daily life. Even if these items were second-hand, they still had high practical value. As long as the pricing was reasonable, people would accept them. However, its auction rule was a rush-to-bid format, whoever raised their hand first would take ownership. This kind of bidding method greatly catalyzed unnecessary impulsiveness among people. It was possible that they hadn't even thought about whether they needed the item, yet in this atmosphere, they would still hastily raise their hands.
Except for the first person who successfully raised their hand, all other people’s attempts would end in failure. This would instill in people a subconscious notion that if they liked something, they must raise their hand at the earliest moment.
The bidding auction's second stage served as a subtle indicator for participants, giving them a practical understanding of the fair market value of second-hand items in relation to their original prices. It was a way to inform and guide them in determining what could be considered a reasonable price.
Everyone had a mental benchmark, and when the concept of a reasonable price within the fifty to seventy percent range took root in their minds, they would gain a rough idea of how much a second-hand item should be sold for.
With the help of the triggered impulse to make a purchase and combined with a clear understanding of pricing, the third stage of the auction became a unique focal point.
Lynch didn't even need to instruct people to tell them; they'd already started estimating the value of these goods in their minds. Even if they didn't intend to buy, they'd still make an estimation. It was a real-time habitual thinking behavior.
When the price of a product fell below a certain range, a valve would open, and the impulse to consume would continually rise in the face of unexpectedly high returns.
Indeed, this auction model was similar to the second stage, where if someone bid, and others didn't, an apartment might be traded for as low as ten bucks.
In the third stage, as long as everyone refrained from raising their hands, the product would eventually drop to one buck, and then everyone would compete for the opportunity.
But the intricacy of human nature resided in its unpredictability and inherent self-interest. This essence was at the heart of Lynch's auction for second-hand goods – a space where selfish motives came into play.
When the price met people's expectations, panic would set in, and they would become uneasy. They would fear someone might suddenly raise their hand and take away the item, leading them to hesitate.
If someone raised their hand during this process and caused others to fail, they would instinctively raise their estimated value of the final transaction price of an item. Increasing it by around five percent was a reasonable figure.
Moreover, the crucial aspect was that the products in the third stage auction were all brand new and unused. This further stimulated people's desire to buy these seemingly unnecessary items.
Guided by the first two auction stages, the third stage became the real profitable stage. All these were somewhat flashy but impractical, challenging to sell in a real second-hand transaction. Yet here, in the present, they became highly sought after.
With the fall of the first item's gavel, the second item quickly followed, with the price range slightly higher than the first item's closing price. Most items afterward followed a similar pattern, below fifty percent.
With the exception of a very few items that truly held little significance, and were only sold off after a more than seventy percent price drop, the rest maintained a range of fifty-five to sixty percent of the original value.
Seeing this, Lynch knew his auction had been successful. The massive transaction amount and sales volume would attract society's attention. Even without much effort in promotion, next Saturday's auction here would still draw a huge crowd.
Curiosity was a characteristic of intelligent beings, and people would want to see for themselves what kind of auction could drive people crazy.
Originally planned to end at six in the evening, the auction dragged on until past seven. In Sabin Federation, the nights went dark later during daylight saving time. Of course, to ensure that people could see the products clearly, Lynch also borrowed some high-powered lighting from the warehouse management company.
The host, under the glare of the lights, held on for just a short while before tears welled up. Thankfully, he persevered until the end, and Lynch even tossed in an extra two hundred bucks as compensation for the overtime.
After one thousand belts were given away, the auction concluded successfully.
The onsite cleanup was handed over to the warehouse management company, as they were paid for professional services. Lynch then brought everyone back to his office.
Vera was also present at the scene today, not alone. Two accountants, a man and a woman of similar age to her, had compiled all the sales data of the day.
In just one afternoon, over four hundred and ninety thousand worth of second-hand goods were sold, falling short of five hundred thousand. This figure shocked everyone; they never thought second-hand goods could create such significant economic value.
Lynch just nodded indifferently, slightly disappointed it didn't exceed five hundred thousand, but overall, he was satisfied.
With a slight cough, all eyes instantly focused on Lynch. He was aware of the intense thoughts behind those gazes and didn't tease them. He went straight to the point, saying, "Today is a very successful day. I won't waste your time with unnecessary words. Let's move on to the distribution of earnings."
He glanced through the forms in his hand, "Let's establish an office emergency fund. Any fractional amounts in the future will be filled into this fund to deal with unforeseen circumstances..."
Since everyone benefited, there was no opposition. The proposal passed.
"Four hundred and ninety thousand, deducting ten percent management fees, leaves us with four hundred and forty-one thousand bucks. How much did we spend to acquire these goods?" Lynch looked at Vera. Although it was on the forms, he needed someone to say it, not himself.
Vera quickly reported a figure, "Three hundred and twenty-two thousand four hundred seventy-nine bucks and fifty cents."
Lynch nodded, "Deducting these costs, we made a profit...," he furrowed his brow and calculated, "around one hundred and twenty thousand. After we split it in half, you guys will receive approximately sixty thousand in rewards today, gentlemen!"
All the young men instantly lit up with excitement. Lynch smiled and directed Vera and the others to get the accounts in order for these people, and then proceed with the payouts.
Wood, along with all the young people, finally felt the reason why Richard, like a zealot, touted Lynch. He was indeed a legend, a legend capable of creating wealth miracles.
There were seventeen people and sixty thousand bucks in reward. Even if they split it evenly, each person could still get a few thousand bucks, which was a substantial amount.
If they worked in an ordinary factory or some companies, it might take them a year to earn this much. However, here, in just a little over a week since joining Lynch's team, they earned the kind of money others needed a year of hard work for.
This tremendous surprise, coupled with a sense of uncertainty, made each of them flush with excitement. They enthusiastically discussed the events of the auction, while Lynch sat on the side, watching.
After about fifteen minutes, Vera handed the forms to Lynch. After thanking her, he asked everyone to stay behind; he would treat them to a good meal later.
Lynch took a quick glance at the form, a slight smile forming at the corner of his mouth. He then passed the sheet to the others.
Before seeing this sheet, almost everyone thought the sales champion for this auction would be Wood. After all, he sold an apartment. But some believed it might be Richard, who had incited many to buy expensive items.
However, to everyone's surprise, the sales champion for this auction was actually the group of kids. Their presence here was so weak that it was almost nonexistent.
Even the kids themselves couldn't believe the figures on the sheet. They didn't do much, just distributed flyers.
They didn't incite customers to fiercely compete like Richard did, nor did they have Wood's luck, but how did they manage to become sales champions?
Lynch knew the answer, and this was even his carefully crafted plan. However, he needed these people to figure it out for themselves. Only when they arrived at the conclusion through their own thoughts would they steadfastly believe it as the truth.
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