Victoria Park CNY stall fetches HK$280k at auction

Bidding for stalls at the Victoria Park Chinese New Year Fair began on Wednesday, with a fast-food stall near the Tin Hau entrance fetching the highest price of HK$280,000. The fair will feature about 400 stalls, including four fast-food units. The remaining three fast-food stalls were sold for between HK$150,000 and HK$260,000. The reserve price for fast-food stalls was set at around HK$120,000. Ho, who won the bid for the most expensive fast-food stall, described this year’s bidding atmosphere as intense. He had originally budgeted within HK$300,000 and found the final price acceptable. He previously operated Chinese New Year fair stalls in other districts and this year is his first time moving to Victoria Park, which he considers an ideal location. Given that Victoria Park’s fair is the largest in Hong Kong, he was confident in generating good sales performance. "I expect it to be good this year. It's getting better every year. That's why I put in my bid even though its more expensive," he told reporters after the auction. A total of 14 Chinese New Year fairs will be held across the territory, running from January 31 to February 6 next year. More than 1,500 stalls will be available, with bidding taking place...