The Municipal Affairs Bureau’s (IAM) auction for next year’s Chinese New Year (CNY) markets took place at the Patane Municipal Market’s Activity Centre yesterday, and the highest bidder paid 25,000 patacas for their booth.
Next years’ CNY Market will be held from January 22 to 29. For the CNY Market in Praça do Tap Seac, 30 booths were on offer at the auction with 75 people taking part in the bidding.
Twenty of the booths will sell CNY-related dry goods, while six booths will sell flowers and four booths will offer cooked food. One of the flower booths was auctioned off for 25,000 patacas.
The flower booths were auctioned off for between 5,000 and 25,000 patacas each. According to media reports, last year, the most expensive flower booth reached a hammer price of 27,500 patacas.
Moreover, this year all food booths attracted bids of between 7,500 and 8,500 patacas, slightly lower than the average hammer price of 8,500 patacas last year.
However, this year the 20 dry-good booths only drew 14 bids, six of which were auctioned off at the asking price of 5,000 patacas. The most expensive booth was auctioned off for 10,000 patacas, which is 8,000 patacas lower than last year’s highest bid.
Meanwhile, the Economic and Technological Development Bureau (DSEDT) announced yesterday before the auction that it will hold a Youth Entrepreneurship Competition for CNY Market Booths.
Each eligible team will receive a 2,000-pataca subsidy. The Best CNY Market Booth Gold, Silver, Bronze and Merit Awards will be selected based on the booths’ business model, product content, creativity, on-site presentation and decoration style, as well as the Best Original Product Award and the Best Multi-Media Publicity Award, with a total of 74,000 patacas to be awarded.
Interested parties can look for more information at the official website at www.yeamacao.org.
Bidders attend yesterday’s auction for the booths at next year’s Chinese New Year (CNY) market at the Activity Centre of the Patane Municipal Market. – Photo: Ginnie Liang
