Finally, the bidding reached a steep 900,000. Leo had been sitting in silent tension, his hands gripping the armrests of his seat. He could no longer contain himself. Leaning forward, he quickly tapped a few numbers into the electronic bidding device next to his seat and sent in his offer.
The woman on stage raised her eyebrows slightly, clearly impressed by the jump in price. She glanced in Leo's direction and called out, "The customer in Room 8, Area A, is offering 1.2 million. Is there anyone willing to raise the bid?"
The room fell into a brief silence. The number had passed a million, and that was no small sum, even for the wealthy collectors in the room. A few people in the audience whispered to one another, clearly recognizing Leo and his reputation.
"So it's Boss Leo, huh?" one man murmured to his companion.
"Well, if it's him, no surprise. He has an eye for these things," another responded.
"One million two hundred thousand…" someone else mused.
Gradually, the crowd's enthusiasm tapered off. People who had initially shown interest in the painting began to drop out, unwilling to chase the price further.
"Congratulations to Boss Leo from Room 12, Area A, for winning the Ruby Dynasty landscape painting for one million and two hundred."
Leo leaned back in his chair, a wide grin spreading across his face. His eyes gleamed with satisfaction. Although the price had been high, he felt confident in his judgment. The painting, in his estimation, would easily fetch three million on the resale market. This was a victory, and the rewards would come soon enough.
However, the room began to stir as the next phase of the auction unfolded—the on-the-spot appraisal. They had get one minute to look at painting but it's just one minute and they can't touch or look it too close it. So there is still chance it's fake.
The painting was carefully brought to the front, where a panel of elderly experts sat. They gathered around it, whispering to one another, examining the piece with careful scrutiny. The tension in the room mounted as everyone waited for their verdict.
After what seemed like an eternity, one of the gray-haired experts stood, clearing his throat. His voice carried across the room, sending a chill through the audience. "After our preliminary appraisal, we have concluded that this Ruby Dynasty landscape painting is a fake."
The announcement hit the room like a bomb, and gasps echoed through the hall. A few people exchanged knowing glances, while others openly gawked at Leo.
Leo's smile vanished in an instant, his face frozen in disbelief. He stood abruptly, his voice shaking with frustration. "Impossible!" he exclaimed, his voice louder than he intended. "From what I've observed, the paper used for this painting is undoubtedly paper from the Ruby Dynasty!"
The expert nodded calmly, offering a small, sympathetic smile. "Mr. Leo is correct in that observation," he said. "The paper is indeed paper from the Ruby Dynasty, but the artwork itself was created by a modern artist who imitated the style of that era. It's what we refer to as 'new painting on old paper.' So, while the paper is authentic, the artwork is not. Its true value is closer to 160,000 or 170,000 yuan."
Leo stood motionless, his face pale as he processed the words. As an experienced collector, he knew this trick well. He had seen others fall into similar traps, where authentic materials were used to bolster the perceived value of a modern imitation. But to think he had fallen for it himself—it was a bitter pill to swallow. If only he'd had a closer look at the painting earlier for longer time, he might have caught the subtle signs of forgery. Now, it was too late.
Laughter suddenly erupted from the stands, piercing through Leo's thoughts.
Jack, seeing Leo's distress, leaned in and placed a hand on his shoulder. "Uncle Leo, it's okay," he said softly. "Didn't you always say that there are times when we make profits and times when we take losses? This is just the beginning. Who knows, by the end of this auction, we might still come out ahead."
Leo forced a bitter smile. "You're right," he murmured, though his disappointment was clear.
Suddenly, Leo seemed to recall Jack's earlier warnings. His eyes narrowed, and he turned sharply toward him. "Jack," he said, his voice low and suspicious, "did you know something about this painting from the start?"
Jack remained silent, not meeting Leo's gaze directly. He had tried to warn him, but there were things that couldn't be explained easily.