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Auction for Victoria Park Lunar New Year Fair stalls ends
     The open auction for stalls at the 2017 Victoria Park Lunar New Year (LNY) Fair concluded smoothly today (November 9). The total revenue was $12,839,225 compared with $12,031,823 last year.

     A total of 474 stalls at the Fair, including 283 for dry goods, 180 for wet goods, eight for thematic and three for fast food, were successfully let out during the open auction at the Queen Elizabeth Stadium.

     To round up the results of the auction for the dry goods stall held yesterday (November 8) and today, the successful bid ranged from $13,710 to $72,000, which averaged out to $23,981. The highest bid of $72,000 was about five times of the opening price of $13,710.

     The auction of dry goods stalls fetched a total of $6,786,595, compared with $5,701,103 last year.

     The three auction days attracted over 2 290 participants in total.

     Auctions for stalls of the four LNY fairs in Kowloon will start next Monday (November 14) at the same venue while the auction for stalls of Tat Tung Road Garden LNY Fair in Tung Chung will be held this Friday (November 11) at Rooms 1403, 1404 and 1414, Harbour Building, 38 Pier Road, Central with the auction session scheduled from 9.30am until completion of the auction.

     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. Licence fee will not be refunded.
Ends/Wednesday, November 9, 2016
Issued at HKT 20:00
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