Chapter 499 - How Cheap
Chapter 499 - How Cheap
“So Miracle Doctor Kang doesn’t sell just one box of limited edition Golden Creation a year, does he?” Lin Yi questioned.
“A box? There’s at least twenty boxes every year, but it can only be sold 500 thousand yuan max. Those who offer 500 thousand first will instantly get it, eliminating the tedious bidding process. It’s all about speed and first come, first serve basis,” said Fatty Lai.
“If that’s the case, can i assume that each box can be sold for 500 thousand?” Lin Yi nodded and continued asking.
“Not really. The first few boxes can easily reach 500 thousand, but as the bidding goes on, competitors lessen, and the price will fall to 400 thousand or even 300 thousand naturally,” Fatty Lai explained.
“500 thousand is good, let’s look for pharmacies nearby. I gotta buy some herbs.” Lin Yi nodded as he felt that the profit wasn't bad at all. It might not sell as much as the Pill of Life Extension and Toxic Cleansing, but it was still very beneficial for building up the company’s reputation and fame.
“Uh…” Fatty Lai was almost getting used to Lin Yi’s ability. Only Lin Yi could pull off the trick of making the medicine just a night before the next day’s auction. “I’ll order some exquisite items for the wrapping and have people send it here in no time?” Fatty Lai asked.
“Nah, just get me a bottle to fill them up. I shall leave belief in the effectiveness of the medicine for the bidders to decide,” LinYi said as he waved his hand.
“Indeed, good medicines naturally sell out; we don’t have to wrap them up so nicely!” Fatty Lai nodded and said, “Wheee, another chunk of money saved!”
“Ugh.” LinYi felt that Fatty Lai really was meant for business. Letting him manage the company wasn’t a bad idea at all. “Oh yeah, before I forget, what’s the market price for Miracle Doctor Kang’s normal version Golden Creation?” Lin Yi asked.
“It’s normally 299 RMB, but I’m thinking of selling our injury medicine at 288 RMB. But I’ve no right to decide the price of the medicine if I don’t know the cost of the medicine, do I?” Fatty Lai replied.
“What? We’re selling it at 288?” Lin Yi eyes went wide. Miracle Doctor Kang was selling a mere normal Golden Creation at nearly 300 RMB. This was way too much. How could normal people be able to afford such price? Wasn’t this a little too greedy?
Lin Yi would always find ways to rob those rich assholes who thought they were big shots looking down on the people, but the idea of robbing the people’s money had never crossed his mind.
“Too cheap?” Fatty Lai asked after observing the stunned expression on Lin Yi’s face. “Boss, Miracle Doctor Kang is selling it at just 299. Even though we don’t have enough supply, I don’t think it’d be a good idea to set the price higher than theirs! Yes, I know that our medicine is obviously more effective than theirs!”
After listening to Fatty Lai, Lin Yi knew that he must’ve gotten the wrong idea. “I think that we’re pricing the product way too expensively. The cost of this medicine isn’t even considered expensive in the first place, just a few yuan!” LinYi said with smile.
“Gah! A few yuan?” Fatty Lai tripped, almost slamming into the cold, hard ground. “Boss, may I beg your pardon? A few yuan? How’s that even possible? That makes Doctor Kang’s Golden Creation a few yuan too, right?” Fatty Lai asked in surprise, clearly in shock.
‘’I have no idea; I’ve yet to see it.” Lin Yi shook his head. “I would suggest that we sell it cheaper so even the average person can afford it since the cost isn’t expensive!”
“Sure, we’ll be a caring and generous company then!” Fatty Lai grit his teeth and said with an aching heart, “199 it is then!”
Fatty Lai was a profiteer, but since Lin Yi had spoken up, he couldn’t do anything against it, could he? So he stepped back and accepted the adjusted price since selling at 288 might not fully satisfy the buyers either.
199? To tell the truth, Lin Yi felt that it was still a little expensive, but he didn’t know much about managing business and setting prices, so he decided to accept the price after seeing Fatty Lai’s pained face. “Sure.”
Fatty Lai let out a sigh of relief after Lin Yi’s agreement. He was afraid that Lin Yi might not be content with the price and would reduce it to 99 RMB. They would lose a lot of profits if that was the case. It’d be a huge loss!
“I’ll make a plan for the next auction then and announce the retail price to the public.” Fatty Lai nodded and added, “Boss, what do you think the price of the painkiller should be?”
“The cost is around five yuan per usage, and of course, the cost is going to lower if we mass produce. How high do you think we should set it?” Lin Yi asked.
“Ok, one box for five usages, setting it at 199. Is that alright?” Fatty Lai asked, testing his boss’s limits.
“Make it ninety-nine,” LinYi said after giving it some thought.
“Sure, we’ll accept your decision, Boss!” In fact, Fatty Lai had already predicted that his boss would reduce the price, so he set the price higher in advance.
After setting the prices of the two medicines, Fatty Lai felt relieved and very delighted because Lin Yi did not hide the cost of the medicine from him, meaning Lin Yi treated him as a partner, telling him one of the big secrets.
After a while, the trio went into a fairly large pharmacy. Lin Yi did not take out any prescriptions and just told the staff what he wanted.
Even though Lin Yi had built up trust between Fatty Lai and him, he still did not fully trust Faty Lai, so he would naturally blurt out some useless herbs. The amounts of the herbs were random as well. There were a few main constituents yet to name, but he didn’t. Instead, he asked for some rare herbs only to find out they weren’t available.
It’s okay, Boss, there are a lot of pharmacies in Yanjing. I can also ask people to buy it for you,” Fatty Lai said after finding out the herbs weren’t available.
“There’s no need; we can check the other pharmacies,” LinYi replied with a smile.
After packing the herbs, Fatty Lai charged forward to pay. It wasn’t much, just a few hundred yuan.
Xuemin was an honest man. He didn’t pay much attention to memorizing what Lin Yi bought in there unless Lin Yi offered the prescription to him. Otherwise, Xuemin wouldn’t even budge into people’s business.
Not long after the trio left, the young man Kun hesitated a little and sneaked into the pharmacy they had just left.
There was only one long route in and out of the pharmacy so Kun had confidence he wouldn’t lose track of them. So he went in the pharmacy.
“Hallo there, would you please tell me what the three of them bought from the store?” Kun politely asked the employee in the shop.
At this late hour, there weren’t many customers so one employee was all they needed. Kun had it lucky since he didn’t have to ask around since there was only one target to prey on.