Participating in the Jade Raw Material Bidding Meeting

Through Yao Qian's explanation, Ye Cheng gained a general understanding of the bidding process for Jie Gao Jade City.

From two o'clock to five o'clock in the afternoon, three hours were allocated for viewing.

The official bidding meeting was scheduled for 7:30 p.m..

The jadeite raw materials up for auction included 12 pieces of clear material, 36 pieces of top-grade material, and 72 pieces of uncut material.

The higher the number, the better the quality, and the higher the starting price.

Clear materials are categorized as having incisions with visible seed water.

Uncut materials, classified as dark materials, have no openings, with the distinction between them lying in their volume.

The minimum volume for uncut material is 100 kilograms or more, while cuttings are all under 100 kilograms.

Once buyers have made their selections, they will submit bidding prices to the auction, and the highest bid will be selected as the winning bid.

In essence, this auction operates more like a bidding meeting than an open auction.

It employs a hidden bidding method, which eliminates the potential for malicious bidding and increases the challenge for participants as they are unaware of their competitors' bids.

Ye Cheng was surprised to learn that the auction of jadeite raw materials followed a bidding format, as this was unfamiliar to him.

However, he saw this as an advantage, recalling news of the No. 9 jadeite material fetching a record bid of 71.23 million in a previous auction.

Yao Qian explained that due to the secrecy of the bidding process, strategic focus on specific materials is often employed to maximize the chances of winning bids.

She also emphasized the importance of accurate jade appraisal to ensure successful bidding outcomes and minimize losses.

Ye Cheng and Yao Qian proceeded to examine the materials, starting from the bottom and progressing to the top, with Yao Qian providing her insights and judgments on each piece.

"Mr. Ye, I recommend bidding on clear materials, as they offer higher chances of producing high-quality water and lower risks of crossing over, despite the expected high bidding prices," Yao Qian advised.

"Do your jewelry companies generally prefer clear materials?" Ye Cheng asked curiously.

"No, our jewelry company often opts for opaque materials instead. The price of clear materials tends to be higher, and even if we acquire high-quality clear materials, the cost-effectiveness might not be as favorable unless exceptional materials are available. Therefore, clear materials are typically favored by the wealthy," Yao Qian explained with a smile.

"Oh, so it seems the competition will be much less," Ye Cheng laughed.

"Actually, there are many affluent individuals participating in this bidding meeting. The competitiveness of clear materials is on par with that of opaque materials. The primary factor is the competition for financial resources," Yao Qian remarked.

"In that case, let's proceed directly to the Ming material," Ye Cheng suggested.

So, the two arrived in Mingliu District.

There was a large gathering of people, all of whom appeared affluent at first glance.

Moreover, these affluent individuals were accompanied by appraisers.

These appraisers examined the clear materials and then discreetly discussed them with their clients.

In total, there were twelve pieces of clear material, varying in size. The largest piece weighed several hundred pounds, while the smaller ones were about the size of footballs.

Without exception, all the materials were uncapped.

Ye Cheng finally laid eyes on the No. 9 Ming material.

It wasn't the largest piece, but it wasn't too small either; it was estimated to weigh hundreds of pounds.

With some basic identification knowledge learned from Yao Qian, Ye Cheng observed that this piece of material was excellent in terms of shape, skin, texture, and cut.

At first glance, it was evident that it belonged to the old pit glass category, boasting exceptional quality. The cut also displayed a light green hue.

"Miss Yao, what is your opinion on this No. 9 ingredient?" Ye Cheng inquired.

Yao Qian inspected it closely.

"Laokeng glass species is light green, vibrant, pure, consistent, delicate, and flawless. It belongs to the top grade of jadeite. Although we cannot ascertain its internal condition, judging by its cut quality as well as the size and shape of the material, it's already worth a bid of 40 million," Yao Qian replied. "However, this type of material also carries significant risk. As you can see, the cracks on the surface here don't appear deep, but there's a chance they could affect the internal texture."

She also shared some of her personal opinions, all of which were persuasive.

Ye Cheng inwardly sighed. If he hadn't known the true value of this material, he would probably have believed Yao Qian's assessment.

But that was to be expected. Jade appraisers weren't infallible; they relied on experience to make judgments. Even the most skilled appraisers had their moments.

If it were possible to identify with absolute certainty, that person would undoubtedly become the wealthiest individual globally, earning unimaginable wealth just by appraising jadeite.

But that was impossible.

Even with the most advanced technology, detecting the interior of rough stone is currently beyond reach. Only upon cutting it open could the true contents be revealed.

Next, Yao Qian proceeded to assess the other eleven pieces of raw material for Ye Cheng, listing their advantages and disadvantages one by one.

"Mr. Ye, if you're considering selecting from these twelve pieces, I recommend the third piece, as it offers the best value for money."

Yao Qian finally made her own judgment: "Of course, Mr. Ye, you can also consider your own psychological inclinations. Many times the assessments made by our appraisers are not accurate."

Ye Cheng nodded and said with a smile, "Miss Yao, thank you for your explanation; otherwise, I would have a hard time choosing."

"So, Mr. Ye already has a choice?" Yao Qian asked curiously.

"Yes, I do," Ye Cheng replied.

"Which piece?" Yao Qian couldn't help but ask.

"Number nine. I don't know what it is, but when I saw it, I felt very drawn to it, as if it had to be the one," Ye Cheng said with a smile.

"Number nine?" Yao Qian was extremely surprised and then said, "That piece is indeed very good. Since Mr. Ye feels a connection to it, maybe he'll have good luck."

She didn't inquire about the psychological value Ye Cheng could obtain. This was the most confidential information needed for the bid. Naturally, it would not be disclosed casually, as it could affect the final result. After all, there were likely many people interested in the same piece of material. Revealing such information at this moment would be unwise.

It was five o'clock, and the viewing was over. Everyone left the hall. Ye Cheng and Yao Qian joined Yao Zhengtao and others, leaving the Jiejiao Trading Building.

Upon returning to the hotel, in the restaurant, Yao Zhengtao asked, "Mr. Ye, have you made a decision?"

"Yes, I've chosen the clear material, Number 9," Ye Cheng replied.

"Did Xiao Qian recommend it?" Yao Zhengtao asked curiously.

"No, it was Ye Ji's choice," Yao Qian said.

Yao Zhengtao inferred that the reason Ye Cheng didn't choose his daughter's recommendation was to avoid putting pressure on her. After all, if there were any issues with the recommendation, it would be embarrassing, especially considering the substantial value of the materials being bid on.

After dinner, everyone didn't rest; instead, they went straight to the exchange building. Even at night, the entire Jiejiao Yucheng was bustling with people coming and going, showcasing its prosperity.

The deals here will last until one o'clock in the morning.

The market will open again at 8:00 a.m. the next day.

Six people, including Ye Cheng and Yao Zhengtao, followed the crowd and entered the trading floor after accepting the invitation letter.

Next, it's time to bid.

Bids must be completed half an hour before the 7:30 auction begins.

The bidding method is also straightforward. On the trading floor, there will be dozens of bidding machines, similar to bank ATM machines. Once inside, you cannot see the interior from the outside, and they are completely sealed. Moreover, these bidding machines are on a local area network or similar, blocking outside signals to prevent hackers from cheating by obtaining bids submitted by bidders through technical means. Throughout the hall, the signal is blocked, rendering phones unusable. Even after entering, there is no way to exit. Once the time is up, even with an invitation letter, access to the trading floor is denied. The entire bidding process can be described as extremely strict.

Ye Cheng waited for one of the bidding machines to become available, then hurriedly entered, locked the door, and started working on it. He directly selected the No. 9 clear material standard.

Bid Price: Seventy-five million.

This bid was more than three million yuan higher than the winning bid in the previous life. It can't be just a few hundred thousand higher; that would be too obvious. Once bidding is complete, there is no turning back. If the bid is successful but payment is refused, the deposit will be confiscated. The personal security deposit is one million, and the company's security deposit is 10 million. There are other penalties, such as a permanent ban on bidding. For individuals, it may be inconsequential, but for jewelry companies, it is a devastating blow.

After completing the bidding, Ye Cheng exited the bidding room.

"Mr. Ye, have you placed your bid?" Yao Qian was waiting outside.

"It's done," Ye Cheng replied with a laugh.

"Then let's go in," Yao Qian said.

Ye Cheng nodded, and the two walked toward the bidding venue.

Inside was a vast oval area with rows of seats and a massive screen in front. The final winning bid would be announced on the screen after the bidding session began.

Ye Cheng and Yao Qian found seats and sat down. It didn't take long for the factory owner to pick up Zhengtao and the others, and they came down. The next step was to wait for the bidding to officially start.