Before October 1991, there was hardly any surplus after the sale of pledges at the auctions. Administrative charges were then introduced in the auctioning procedures, with the aim of the auctions being conducted more fairly and openly. Starting from January 1996, all auctions have been conducted at the Hotel Royal which is located at Newton Road. Due to its easy accessibility, response at the venue has been overwhelming. Besides the usual ubiquitous second-hand traders, there has been a great surge in the number of first time bidders.
Biddings are now more competitive, resulting in greater surpluses for the pawners.