The initial price was actually the lowest, with the double-person loom being bid up to seventy taels, more than doubling its original price.
The reason was simple. The merchants on the first floor became utterly desperate. They could only ensure they spent a fortune to buy back a loom, at least one, to relieve their immediate crisis. Otherwise, their shops would be waiting to collapse, and they clung to this last lifeline, desperately escalating the price.
Some small merchants even turned red-eyed.
As such, the wealthy merchants who hadn't obtained a loom wouldn't miss this opportunity and kept raising their bids.
Everyone realized that the further it went, the fewer looms remained.
Tang Dongfeng was very adept at controlling the pace of the auction. At first, there were still two or three looms being sold, but as it progressed, the number of looms increased—eight, ten, fifteen—clearly intended for the wealthy merchants.
