Victoria Park Lunar New Year Fair stall bidding sees lower turnout and revenue
The first day of public bidding for stalls at Hong Kong's Victoria Park Lunar New Year Fair drew about 400 people. Wet-goods stalls fetched between HKD 6,530 and HKD 53,000, with total revenue falling to HKD 2.82 million from HKD 4.30 million last year.
The first day of public bidding for stalls at the Victoria Park Lunar New Year Fair was held on Wednesday, 7 October, drawing about 400 members of the public, the Food and Environmental Hygiene Department said. The bidding took place from 9 am to about 6:45 pm at the auditorium on the second floor of the Lai Chi Kok Government Offices.
Wet-goods stalls were sold for prices ranging from HKD 6,530 to HKD 53,000, with an average successful bid of about HKD 15,700. The highest price paid for a wet-goods stall was HKD 53,000, roughly 8.1 times the reserve price of HKD 6,530.
The total revenue from wet-goods stalls amounted to HKD 2,824,632, down from HKD 4,303,766 last year. Four fast-food stalls were sold at prices between HKD 150,000 and HKD 280,000, with an average bid of HKD 220,000 against a reserve price of HKD 120,470.
A total of 216 dry-goods stalls at the Victoria Park fair, including 170 standard-sized and 46 large stalls, will be offered in public bidding on Thursday, 8 October, and Friday, 9 October, at the same venue starting at 9 am.
The department reminded successful bidders that they must comply with all terms and conditions set out in the特许协议, or the department may revoke the licence and require the licensee to vacate the stall immediately.