The banquet hall appeared to have been meticulously renovated. Tables were arranged in neat rows, and at the center stood a platform with a box inscribed in Burmese script.
"Is that a donation box?" I asked.
Boss Wei chuckled and replied, "We're not interested in charity, and the Burmese even less so. That's a bidding box. Although this is a private banquet for jadeite gambling, the rules are the same as a government auction. Essentially, it's a publicity stunt to hype the upcoming auction."
I frowned upon hearing this. After the Burmese government nationalized all mineral resources to prevent tax evasion, they began hosting public auctions for jadeite raw materials.
All jadeite rough extracted within Myanmar must be numbered by the government and military's mining department before being auctioned collectively. Each year, international jewelers are invited, periodically or irregularly, to the capital to appraise and bid on these raw materials.
Private trading of jadeite, whether rough or finished products, is strictly prohibited in Myanmar. Violators face criminal charges or hefty fines for smuggling.
Newcomers to the auction must be invited by the Ministry of Mines or local jade trade companies to gain entry. Only after establishing a transaction record can they apply to participate independently.
Two bidding methods are employed: blind and open bids. In a blind bid, a minimum price is set, and bidders submit their estimates anonymously. The highest bidder wins. For open bids, the price is displayed, and the highest offer wins.
I observed the materials on display and asked, "Are they all blind bids?"
Kun Sang smiled. "Of course not. Blind bids apply to unopened stones, while open bids are for stones with exposed windows. This event is really just a promotional stunt for the upcoming auction. The Jadeite King invited both domestic and Burmese merchants, showcasing the best stones from private collections. While transactions may occur, the prices are astronomical, as these stones are collector-grade and of unparalleled quality."
I nodded. Blind bid results would only be revealed the next day, while open bids were disclosed on the spot, offering flexibility.
As I entered the banquet hall with Boss Wei and Kun Sang, no one greeted us. The servers stood near the raw stone area, ready to provide assistance upon request.
I asked, "Has the banquet started? Why hasn't the Jadeite King shown up?"
Boss Wei responded, "It's already begun. Everyone's gathered here in the hall. Look at these businessmen—most of them are worth billions. Even we are on par with them. But the Jadeite King? He's in the palace, meeting distinguished guests. He won't bother with us."
Surprised, I asked, "Even billionaires can't meet him?"
"You're worth a billion in yuan, which is only around ten million euros. Look at the price of that stone," Kun Sang said.
I turned to see the stone he pointed to. It was stunning—a windowed jadeite from the Muna mine, vibrant green with fine texture. The stone, weighing over 200 kilograms, was priced at 24 million euros as a starting bid.
Shocked, I muttered, "I thought having seven million yuan made me wealthy, but it's not even a fraction of this stone's price."
Kun Sang chuckled. "Brother Zhao Fei, the Jadeite King's fortune exceeds ten billion. To him, we're insignificant. He mingles with tycoons from Guangdong and Hong Kong, worth hundreds of billions. They're strategizing to make this auction a success, deciding billion-dollar deals in minutes. We're lucky just to witness this."
I nodded, humbled. Back in Ruili, the market seemed vast, but in Myanmar, even a private gathering like this was overwhelming. The true auction would be an ocean where small players like me might not even set sail.
"Are you gambling tonight? I only brought seven million yuan," I said.
"Don't worry, Brother Zhao Fei," Boss Wei reassured me. "There are affordable stones too. It's about choosing wisely. Even in public auctions, some have won millions with a small investment."
I collected myself, realizing that the world of jade gambling was far larger than I'd imagined.
Boss Wei handed me a glass of wine. "Zhao Fei, let's begin. The sky's the limit. We brought a billion yuan. If you're skilled, gamble it all away!"
I laughed at his jest. Despite their combined wealth, it was only half their fortune—a drop in this vast sea.
I examined the stones lined up meticulously, sorted by size and skin color. The organizers had clearly planned this.
A particular stone caught my eye—split in half and resembling a dinosaur egg. Its surface was striking, with a translucent window revealing vibrant colors. It was a rare three-color jadeite with high transparency, priced at 15 million euros.
I sighed inwardly. This place was a treasure trove, but the entry barrier was too high. Without tens of millions, even a whisper of interest seemed laughable.
Kun Sang laughed. "Don't fret, Zhao Fei. Let's focus on windowed stones—they're still affordable."
Suppressing my frustration, I moved toward the smaller stones, determined to make the most of what I had.
The small stone section featured pieces weighing around ten kilograms, all with small windows cut for inspection. I approached a service attendant to pick one up for a closer look, but she immediately stopped me. "Sir, please observe the stones politely. If you need assistance handling them, I can help."
Feeling slightly embarrassed, I crouched to examine a piece. The reddish-brown skin suggested a semi-mountain, semi-water stone, likely from the Dharmakan mine. Weighing five kilograms, it was a manageable size.
I inspected the window—a small cut revealing ice-glassy material with moderate translucency. The surface gleamed with a consistent hue, albeit slightly coarse. Its potential for carving into bangles was clear, with at least three pairs possible. Each bangle would fetch around 100,000 euros on the market.
Boss Wei glanced at the stone and frowned. "Dharmakan stones are tough to gamble on. The material is hard and often mixed, making it tricky."
Kun Sang nodded. "Exactly. While it's an old mining area, it lags two centuries behind Lopaka. The layers are thick, and the cost-benefit is usually low."
Their lack of enthusiasm frustrated me. Unlike my past experiences where I had full control, this collaboration meant dealing with conflicting opinions—a serious drawback in gambling, where clarity of decision-making was crucial.
I calmly asked, "What kind of stone are you looking for, then?"
They exchanged glances before Kun Sang pointed to a greasy-looking stone. "That one looks promising—gray-skinned and very oily. The oiliness suggests strong potential."
He shone a light on it, and Boss Wei's face lit up. "Impressive! The transparency is remarkable. This should be from the Mo Wang Ky mine—an old pit. It's highly gamble-worthy. At 15 kilograms, it might yield five bangles. A triple return is possible if we win."
I shook my head subtly, unimpressed. From my experience, the stone's oiliness suggested weak structural integrity.
Kun Sang noticed my skepticism and asked, "What's wrong with it?"
I hesitated, not wanting to offend, but said, "Its surface suggests it's from an old mine, but the depth likely deteriorates quickly. It's risky."
Kun Sang's expression darkened slightly, and Boss Wei shrugged. "Still, gambling is about risk, Zhao Fei. We don't always play it safe."
Frustrated but not wanting to argue, I turned back to inspect the smaller stones. If they insisted on taking risks, I needed to choose one that balanced potential and cost.
I moved to another section of the smaller stones, hoping to find something more promising. As I crouched, a particular stone caught my eye. Its skin was rough yet tight, with patches of green faintly visible beneath the surface. The weight seemed modest, about six kilograms, and the cut window revealed a vibrant, glassy-green color with minimal inclusions.
This had to be a high-risk, high-reward piece. While the green wasn't fully exposed, the stone's color consistency hinted at significant potential—perhaps enough for two bangles or even a pendant.
Kun Sang and Boss Wei wandered over, curious about my choice.
Boss Wei leaned in, scrutinizing the stone with his flashlight. "The color looks good, but it's only a small patch. What if it fades inside?"
Kun Sang chimed in. "That's the gamble, isn't it? If the color holds, this could double its value—or more."
I studied their reactions before replying, "This piece isn't as flashy as some of the others, but it has potential. The surface texture suggests stability, and the green's depth looks promising. If the internal consistency matches, it could yield a solid profit."
Boss Wei nodded thoughtfully but remained skeptical. "What's the starting price?"
I checked the tag: 800,000 euros. It was steep for such a small piece, but in this hall, it was considered affordable.
Kun Sang frowned. "800,000? That's still a hefty gamble for something this size."
I smiled, confident in my instincts. "Sometimes, it's not the size that matters but the quality. If this piece delivers, its output could easily surpass two million euros."
Boss Wei exhaled, then gestured toward the service staff. "Let's place a bid. Zhao Fei, you'd better be right about this."
As the attendant noted our offer, I felt a surge of determination. While the hall was filled with million-euro stones, it wasn't about spending the most money but making the smartest bets.
After securing our bid, we moved toward the large, imposing stones. The room hummed with excitement as seasoned gamblers and tycoons inspected the high-value pieces.
Boss Wei's voice lowered as he muttered, "Look at these people. Each one probably has ten times our budget."
Kun Sang chuckled bitterly. "And yet, they're all here hoping for the same thing—a jackpot. Money alone doesn't guarantee luck."
I remained silent, scanning the crowd. The sheer scale of this gathering—private yet opulent—was humbling. Despite the glamour, the stakes were daunting, and every choice carried weight.
One day, I thought, I'll have the means to walk into such a hall and make these decisions without hesitation. Until then, I had to play smart.
The evening progressed, and the atmosphere in the banquet hall grew more intense. Groups of jewelers, traders, and collectors huddled around various stones, their discussions animated and tinged with excitement—or frustration.
We returned to a corner where smaller, open-windowed stones were displayed. I couldn't help but notice a middle-aged man, elegantly dressed, holding court among a cluster of buyers. He was casually pointing out stones, offering his opinions with an air of authority.
Kun Sang leaned toward me and whispered, "That's Master Luo. They call him the 'Eye of Jade.' He's reputed to have an almost supernatural ability to appraise stones."
I watched him, intrigued. "Is he bidding too?"
"No," Kun Sang replied with a small chuckle. "He's here to showcase his expertise—and perhaps flex his influence. People like him don't need to bid; others hire them to guide their choices."
I turned my attention back to the stones in front of me, scanning for anything that stood out. My eyes landed on a peculiar piece—a mid-sized stone with uneven skin and a patch of translucent green peeking through a small, roughly cut window.
"Check this one," I said, pointing it out.
Boss Wei crouched to get a closer look, shining his flashlight over the surface. "Looks a bit risky. The skin isn't uniform, and that green patch—it's too small to tell if it runs deep."
Kun Sang crouched beside him. "But the translucency is solid, and the color is clean. If the patch expands inward, this could be worth something."
The tag read 1.2 million euros, and I felt a twinge of hesitation. While it was within our budget, the risk factor loomed large.
"Shall we bid on it?" Boss Wei asked, looking directly at me.
I thought for a moment. "Yes. But let's be strategic. If the price climbs too high, we pull out. This piece has potential, but it's not worth draining our funds."
We placed a bid, noting the details with the attendant. As we moved to another section, I felt the weight of each decision pressing down on me. This wasn't just about money—it was about reputation, strategy, and navigating a field where the smallest mistake could cost a fortune.
Later that evening, the first round of bidding concluded. A series of announcements echoed through the hall, and buyers gathered to hear the results. The atmosphere was electric, a mix of anticipation and tension.
The piece we had bid on—the smaller stone with the promising green—was announced as sold, and to our surprise, the final price was just slightly above our bid.
"We got it," Kun Sang said, his tone a mix of excitement and relief.
Boss Wei clapped me on the shoulder. "Good call, Zhao Fei. Let's hope your instincts pay off when the stone is cut."
I nodded, but inwardly, the pressure intensified. The gamble had been made, and now we had to wait to see if it would yield rewards—or regret.
For the rest of the evening, I kept my focus sharp, taking mental notes of the trends, the players, and the dynamics of this world where jade wasn't just a gem but a high-stakes obsession.
As we prepared to leave, Kun Sang gestured toward the golden doors at the end of the corridor. "One day, Zhao Fei, you might find yourself beyond those doors. The question is—will you be ready?"
I stared at the imposing entrance, its polished surface reflecting the glittering lights of the banquet hall. "I'll be ready," I replied quietly. "One day, I will."