Five hundred million is still too low, there's always someone who can't help but start bidding.
"Five hundred and ten million!"
"Five hundred and twenty million!"
"..."
"Six hundred million!"
"Six hundred and ten million!"
"Six hundred and twenty million!"
"..."
"Seven hundred million!"
"..."
"Seven hundred and fifty million!"
"Seven hundred and sixty million!"
"Seven hundred and eighty million!"
...
After an intense bidding war, the price rose to the threshold of eight hundred million.
In everyone's eyes, real estate development is very profitable, yet also a huge money pit!
This is just the auction for the land development rights; there's still construction and other matters to follow, which are bottomless pits. If there's any issue with the cash flow, it could lead to bankruptcy!
Even so, those playing roles are merely minor characters used to raise the price to a reasonable range, and then the real competition begins.
