Blackstone Code-Chapter 275:

Joegleman, who had just returned to his seat, wore a solemn expression. Lynch's earlier reminder had initially made him feel a wave of... shame and anger.

He was in a highly volatile state right now, and everyone in the bank knew it. Those who had been fired had lost their jobs simply because they had sided with Joegleman's opponents in the internal struggle.

What made the situation even worse was that the bank's branch manager fully supported Joegleman. The entire management team was on his side, which only fueled rumors that he would eventually become the branch manager in Sabin City.

But then, he felt a slight chill run down his spine. He quickly realized that his attitude had been a problem.

He began to reflect on whether he had done something foolish in recent times and started to calm down.

This kind of situation wasn't unique. It often occurred with dictators. No one dared to question their authority, which led them to become arrogant and, eventually, to their downfall. Fortunately, Lynch's timely reminder had woken him up.

As time passed, the auction began. From the start, this closed-door auction felt a bit... unusual.

Unlike most auctions, where the atmosphere was lively, the hall remained quiet. No one whispered to each other; everyone simply sat in their seats.

The assets being auctioned off included everything from Listoan's light industry company—real estate, land, production machinery, some raw materials piled up in warehouses, and items Lynch and others deemed unworthy, like cars.

Cars, for those in business, held many kinds of value. Some companies would buy an astonishing number of luxury cars each year, spending astronomical sums. Ordinary people couldn't understand why these companies had such needs.

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Of course, there were explanations, such as the need to maintain a company's image. Luxury cars had gradually become a company's symbol, a reflection of status, one of the warped social conventions of the time.

A company's financial strength wasn't something its manager or CEO could directly show during negotiations with others. They couldn't flash hundreds of thousands or millions in cash. So how could they prove their worth?

This is where luxury cars played a role—they symbolized a company's power.

More importantly, these cars could be used as assets to be pledged to banks, allowing the company to pay interest or principal on loans. The companies would only spend a small amount for long-term use, and could even resell the cars at close to their original value. This was why businesses were happy to purchase luxury cars in bulk.

Today's auction featured many luxury cars, along with exquisite sofas, artworks, and other items of comfort—all seized from one of Listoan Group's light industry companies.

From the very beginning, the auction cut straight to the chase. A nearly new car from two years ago, originally priced at 32,800, was won by a participant for just 4,200. Even more surprising was that he faced no competition.

If someone had been paying close attention, they would have noticed that this bidder only raised his paddle once and then became a mere spectator. He never raised his paddle again, fading into the background of the auction.

Next came the second car, the third car... the first set of sofas... the first modern oil painting... the first artwork...

All the items were sold at incredibly low prices, about one-eighth of their original price. Sometimes a bit more, such as with artworks, but even then, the prices only reached about two-thirds of their original value.

The auction was conducted in a way that many might not understand. How could they ensure that when one person raised a paddle, no one else would compete? Everyone was surprisingly cooperative, ensuring the prices stayed close to the starting bids.

Had they all agreed to this beforehand?

Yes, they had. Everyone in the bank was involved—from the tellers in the lobby to the managers in their offices. Anyone eligible to attend this closed-door auction had a part in it.

In fact, before this auction, there had already been a small pre-auction to determine the prices of more competitive items and to decide who would get what.

Everyone followed these unwritten rules, and after the auction, the buyers would contribute a portion of their earnings to a small fund, which could be used for future events.

Over a hundred ordinary items were auctioned off at starting prices, and the entire process was completed swiftly. The City Hall was well aware of what was going on. After all, both the City Hall and the court had auction supervisors present. But they turned a blind eye or, rather, allowed it to happen.

From a legal standpoint, the entire auction process complied with federal laws and the constitution. It was a legitimate and reasonable auction—no one could find fault with it, and that was enough.

Of course, to prevent the bank from going too far, the City Hall always had the assets appraised before entrusting them to the bank for auction. They provided the bank with a price they deemed acceptable, which became the City Hall's bottom line.

As long as the bottom line wasn't crossed, there would be no problems.

The smaller items sold quickly, and then came the land, which was a big-ticket item.

This factory's land was close to the city limits, and with Sabin City's rapid development, it would likely be incorporated into the urban area within a decade. When that happened, its price would soar.

Some of the invited entrepreneurs started paying closer attention. The bank had sent them invitations because they had shown interest in these assets or had enough money to spend, which would benefit the bank.

Due to the economic situation, the starting price wasn't high—850,000. This was quite low, to be honest. Shortly after the auctioneer announced the starting bid, someone raised their paddle, and competition followed.

The first plot of land was eventually sold for 1.11 million, which brought a smile to Joegleman's face. A higher final price meant he had done a good job.

Several plots of land were sold quickly after brief, mild competition. Next came the machinery.

Few people were interested in the machinery, as buying them held little value. Most attendees showed little enthusiasm. Just as the auctioneer was about to announce Lynch winning the bid and move on to the next item, someone unexpectedly raised their paddle to compete with him.

Lynch was surprised and glanced at the man sitting not far from him. He looked to be in his forties, with brown hair and a neatly groomed mustache around his lips.

Lynch didn't recognize him. Sabin City didn't seem to have any famous capitalists with such a mustache.

As Lynch looked at the man, the man sensed his gaze, smiled at him, and nodded.

The sudden competitor threw things off balance. Lynch tried raising the bid twice more, and each time, the man followed suit. Joegleman, sitting on the auction platform, noticed something was wrong.

After a brief exchange of glances with Lynch, Lynch signaled that he needed to call his investors and asked if the auction could be paused for fifteen minutes.

Joegleman readily agreed, and the competitor also surprisingly agreed to the pause.

"What's the deal with this guy?" Lynch asked, frowning, in the break room.

Joegleman didn't look too happy either. The least likely place for things to go wrong had gone wrong, which meant he hadn't done his job properly.

Lynch had given Joegleman a lot of support in his power struggle, and Joegleman should have reciprocated. That's how favors worked in the Baylor society: if one wanted help in times of need, one first had to help others in their time of need.

Lynch had helped him, but Joegleman hadn't helped Lynch.

"Before I came here, I checked the invitation cards. Your competitor got his invite through the bank's state branch. We don't have much information on him, but he's probably a businessman from the state capital or elsewhere, and...," Joegleman scratched his head, a gesture he rarely made. He felt it made him look incompetent and helpless, but he did it instinctively now. "And it seems like he's also here for the machinery."

The machinery, worth over a million, had a starting bid of just 150,000 thanks to Lynch's efforts. Even after several rounds of bidding, it hadn't reached 400,000.

Lynch could keep raising the bid, but being outbid by someone out of nowhere was deeply frustrating.

"So, we don't have a concrete solution?" Lynch asked again.

Joegleman, though embarrassed, nodded. "We don't have any other options."

Lynch paced back and forth. This had gone beyond his expectations. He hadn't anticipated a problem here, but one had appeared, and it needed to be dealt with.

"Fine, let's just go with it. Maybe he's not as determined as I thought."

Back at the auction, Lynch and the out-of-town gentleman engaged in a fierce bidding war. In the end, the price soared to 957,500, far beyond what Lynch had originally intended.

"It seems Mr. Lynch is determined to have these items," the man said with a sly smile, appearing generous and magnanimous. "So... I'll bow out of the competition."

His words made it seem as though Lynch was getting a bargain, as if the man was letting him have it.

Lynch kept his smile and even thanked the man, as if he agreed with the sentiment.

But it didn't end there. When the raw materials went up for auction, the two competed again, driving the price from a starting bid of less than 120,000 to 510,000. Once again, Lynch emerged victorious.Please vote for this novel at https://www.novelupdates.com/series/blackstone-code/There are advance chapters available nowAccess will be granted 24 hours after the donationTier 1: 7 Advance chapters Link

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