A taxi pulled in near the front of an auction house located on the east side of the first ring. There was a steady stream of cars waiting for valet and vehicle drop offs that was blocking the front, so Li Yun got out of the taxi early. He walked toward the entry and waited for Tang Jiang and Chen Gan.
As he waited, he scanned through the crowd of people passing by. There were many elite bidders who had experts with them. Some were dressed in tux and others were dressed casually. The experts were easily identified by white beard and traditional qipao.
There were also finance reporters taking pictures in front, most were invited by the Protector for publicity. Auctions weren’t typically a big celebrity event, but there were enough big name CEOs to attract tabloid reporters.
Li Yun wore a plain dress shirt and looked like part of the valet crew. He wasn’t self-conscious about what he wear, but he like how the qipao looked. It would be comfortable and fitting to wear in his Dong Xuan clinic.
Just as he was pondering about his limited wardrobe, he spotted Tang Jiang and Chen Gan heading toward him. They were also dressed in casual clothing, but their aura was quite different from everyone else.
After a quick greeting, they led Li Yun into the Protector. Li Yun thought it was odd that someone of Tang Jiang and Chen Gan’s caliber didn't have a secretary accompanying them to the auction. Just a moment later, a secretary rushed in from behind. He had parked the car and arrived immediately afterward. Tang Jiang ignored his arrival and presence. Instead, Tang Jiang focused on an elderly man who was approaching them.
“Mr. Tang, welcome,” said the elderly man with a long white beard.
“Mr. Li, this is elder Mr. Kwan, he is an expert in porcelain and vases from the Protector,” Tang Jiang introduced.
Mr. Kwan greeted Li Yun with a slight nod. Anyone who Tang Jiang introduced was bound to have a special identity. Since Tang Jiang did not mention Li Yun's especially, Mr. Kwan assumed he wasn't someone in the antiquity trade.
"Is Mr. Li here to buy antiques?" asked Mr. Kwan inquisitively.
"Just looking around," Li Yun replied.
After the brief introduction, Mr. Kwan led them inside the VIP passage. The passage was only separated by roped stanchions, but it was easy to distinguish between the regular passage and the VIP. The other side of the stanchion was crowded with regular registrators, news reporters and spectators. If Tang Jiang hadn't invited him, Li Yun would be on the other side squeezing himself through the crowd.
They entered the exhibit space where the items were displayed. Unlike the other auctions, almost everything was enclosed in glass casings. The few items that were displayed out in the open required people to wear gloves.
Mr. Kwan showed them around the different exhibits. The auction was usually a 2-days event, with different types of collections. On the first day, there were Tang and Song Dynasty ceramics, fine jade carvings, contemporary arts, and furniture.
Li Yun only wanted to see first hand what most of the authentic items looked like. He had gained a lot of experience from the museum, but being in the Protector Auction house showed him what was available on the market for the elites. He was sure there were private auctions with more extravagant pieces, but the Protector Auction was where bidders can brag and trade legally.
Mr. Kwan guided them around the different displays, providing insights on the items expecting closing price, which were always a bit higher than the bidding price. As an expert hired by the auction house, he usually did his best to exaggerate all the artifacts. However, Tang Jiang and Chen Gan were both considered knowledgeable about antiques, so he did his best to provide accurate information.
"This pair of doucai plates are from Yongzheng period," said Mr. Kwan pointing to a pair of black and green plates. Mr. Kwan looked to Li Yun and explained, "Doucai is a technique where parts of the design are painted with a blue underglaze. Cobalt blue is extremely difficult to attain and highly prized by almost all the imperial court."
Li Yun nodded along the way, pretending not to know about the doucai technique.
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"This comes from a very prestigious provenance, so we expect to hammer this in at 9 million yuan," Mr. Kwan continued to explain.
"What's provenance?" asked Li Yun. He was relatively new to elite auction houses, and the term was not used at the smaller auction houses.
"Provenance is the historical transactions of the items," Mr. Kwan patiently explained as though he had done so many times. "It is extremely important in the art world to establish where it comes from to avoid criminal transactions and possible forgery."
Li Yun nodded. If the item came from someone who was known to only buy authentic items, more people were inclined to bid on it. Mr. Kwan escorted them to the centerpiece of the ceramic collection.
"This a blue and white fish basket shaped zun from the Xuande period," Mr. Kwan stated with pride as he showed them the showpiece. "This was entrusted to us by a private collection. It's beautifully decorated, and we expect to close this for over 10 million RMB."
Image [https://assets.thevalue.com/716c7a7d5260a7fba92fcf45fcd435c97bf24df8/detail/cf6bd055cefcc3d00068e961924e6d1e1ccb6a34.jpg?1513949676]
Li Yun wasn't particularly impressed. Aside from the Protector, the other top-ranked auction houses had better centerpieces for their fall collection. He wondered if they were holding out on some of the pieces for the spring. After looking through the display, Tang Jiang was about to head to his private VIP suite to bid on the items.
“Why don’t you come with us to see the bidding?” asked Tang Jiang.
“It’s all right, I have another appointment elsewhere,” said Li Yun. He had a meeting with the Protector's appraiser, so he thanked them for the invite, and left to find the appraiser’s office.
"Excuse me Mr. Jiang, Mr. Gan," said Mr. Kwan. "I also have an appointment."
Mr. Kwan left shortly after.
“Mr. Li sure is a bit dull,” said Chen Gan as he watched Li Yun depart. “Why do you think Song Meilin is dating him?"
Tang Jiang shrugged. He couldn't sense much aura from Li Yun either. Other than being extremely devoted in studying medicine, it was difficult to gauge Li Yun's ability.
"The girls said they think he’s good-looking, but isn’t almost everyone in the elite class good looking?” Chen Gan recounted what his cousins had told him.
“90% of them had plastic surgery,” Tang Jiang joked, but most of it was true. All the elites had access to the finest face, teeth, and medicine that money could buy.
"Ha! Don't say that in front of my mother."
Tang Jiang gave one last look at Li Yun as he turned the corner, "We should still keep an eye on him."
Tang Jiang wasn’t basing his assessment of Li Yun on face value, but mainly on Song Taiji’s reaction. If there was someone who had the ability to scope out talents, it would be Song Taiji. Otherwise, Dr. Li wouldn’t have been able to date Song Meilin for so long.
“I'm still wondering why you even bother,” Chen Gan said they were walked to their VIP booth. "It's not like Song Taiji will hand over his company to Song Gaode."
Tang Jiang tapped his arm, thinking about something.
***
As Tang Jiang and Chen Gan joined the auction, Li Yun arrived at the appraiser’s office. The receptionist greeted him and asked him to be seated. He waited for a few moments until Mr. Kwan arrived in the auction.
"Mr. Kwan, Mr. Li Yun is here for the appointment," said the receptionist.
Mr. Kwan's eyes widened as he looked at Li Yun.
"Oh! You're Li Yun," Mr. Kwan never thought it was the same person. "Mr. Li, why didn't you tell me you're here as a seller?"
Li Yun almost wanted to chuckle as he wasn't aware either. The email only said there would be a meeting with an appraiser.
"Please come in," said Mr. Kwan leading Li Yun to the private meeting room. "We have only looked at a couple of your items, but I believe we will provide you with the best deal."
"Mr. Kwan, I understand that the Protector has been on a decline ever since the Poly started branching out to the auction business," Li Yun began negotiation as a seller. Li Yun's aura was quite formidable and intimidating when he wanted to be. "I am willing to bet that your evaluation is a lot lower than theirs because you aren't confident to sell all the items."
Mr. Kwan beaded in a cold sweat. There had been a decline in interest, and their sell-through rate had been lower.
"Mr. Li, I'm sure you understand we are still the second-best in the nation," said Mr. Kwan. "If you sell with us, I can provide you with a fixed fee of 15% seller's fee, that is one of your lowest rates."
"I have seen lower rates," Li Yun had no idea who had the lower rate, but he was willing to bet that there was a lower rate. No one starts the negotiation at the lowest rate.
"I am sure you understand that some of those sellers are long-term partners," Mr. Kwan countered.
"I guess there is little incentive for first time sellers to become long-term partners. It is a bit pitiful, as there are other artwork in my collection."
Mr. Kwan thought about it for a moment. "How about 10%?"
"I should ask Mr. Tang and Chen directly if they are interested in buying from me directly," Li Yun was milking as many benefits he could gather from entering the museum with Tang Jiang and Chen Gan.
"6%, Mr. Li Yun, I can assure you that I am not allowed to do any lower."
Li Yun finally nodded.