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The open auction for stalls at the 2015 Victoria Park Lunar New Year Fair concluded smoothly today (November 5). The total revenue was $14,100,610, compared with $13,884,720 last year.
A total of 473 stalls at the Fair, comprising 284 dry goods stalls, 178 wet goods stalls, eight thematic stalls and three fast food stalls, were successfully let out during the open auction at the Queen Elizabeth Stadium.
Together with yesterday's auction, the successful bids for the dry goods stalls ranged from $12,750 to $101,000 and averaged out to $31,196. The highest bid of $101,000 was about eight times the opening price of $12,550.
The auction of dry goods stalls fetched a total of $8,859,550, compared with $9,092,900 last year.
The auction attracted more than 2,700 participants in total.
Auctions for stalls at the four Lunar New Year fairs in Kowloon will start next Monday (November 10) at the same venue.
A spokesman for the Food and Environmental Hygiene Department reminded the successful bidders not to assign, sublet, transfer or otherwise part with any of the benefits or obligations of the licence agreement. Otherwise, the department may terminate the agreement and the licensee shall immediately vacate the stalls. The licence fee will not be refunded.
Ends/Wednesday, November 5, 2014
Issued at HKT 18:37
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