Chapter 21: Step by Step into the Abyss

Although Shen Yuequn himself didn’t quite understand why he had to fabricate a master named Kaka, the effectiveness of this strategy was undeniable.

First of all, the consignment system and the ten-yuan deposit ensured that customers wouldn’t make a fuss over shoe sizes, allowing him to conduct his business in peace. Furthermore, since most of the shoes bore the JN mark, the consignment prices rarely exceeded fifty yuan. The shoes could usually be sold within the year, and customers would receive their cash within three days at most, which was still a profit—a thorough solution to the mismatch in shoe sizes.

At the same time, Shen Yuequn noticed that the presence of so many consigned, cash-returnable shoes greatly increased the likelihood of repeat purchases. Buyers realized that if they got a pair of leather shoes, not only could they wear them, but they could also consign them and possibly turn them into fifty yuan cash.

Even though the odds of drawing a pair of leather shoes were only one in ten, as long as luck was on your side, you’d definitely come out ahead!

Especially with that one pair of five-hundred-yuan shoes on display in the consignment section—as time passed and Shen Yuequn took every opportunity to explain the meaning of the initials “KK” in the trade, the first thing people did upon drawing a pair of leather shoes was check the soles to see if there was a non-JN mark. But, to their disappointment, several days went by and not a second pair of such leather shoes appeared.

Of course, many people were still skeptical of Shen Yuequn’s story about the Italian master. The tale seemed dubious, and the style and appearance of the supposed masterwork leather shoes didn’t seem that different from the others being sold.

By the sixth day, however, the situation finally changed.

That day, Shen Yuequn was selling blind boxes in his usual spot, surrounded by a crowd as always. Many among them had come specifically after hearing from friends who had gotten new wallets, and upon learning that for just ten yuan one was guaranteed at least a wallet—with the chance of also winning leather shoes or a belt—they’d taken the bus over to try their luck. After all, these were people with time to spare.

“Why still nothing?” a young man exclaimed in frustration, tossing his blind box into the nearby trash can, clearly upset and disheartened.

He had bought three blind boxes in a row, each yielding only wallets and not a single pair of leather shoes, which was what he had come for.

“Kid, you think you can get leather shoes with just three boxes? Don’t you know that, on average, only about one in a dozen boxes contains a pair of leather shoes? Not winning with three boxes is perfectly normal!” It wasn’t Shen Yuequn who spoke—he was busy collecting payments and had no time to address this unlucky fellow. It was several veteran customers among the onlookers.

Every day, in addition to newcomers, a number of regulars gathered there. Most were unemployed or retired, with nothing better to do but wander about in search of diversion, and they’d discovered that this spot provided plenty of entertainment—watching people lose themselves in joy or despair.

These regulars made the most of the spectacle, and the young man had become the latest source of their amusement.

“That’s how it is!” The young man felt somewhat better upon hearing this; if it usually took over ten boxes to get leather shoes, his luck wasn’t so bad after all.

“Why not buy two more? With consignment, you can basically sell them for fifty yuan each. As long as you don’t get leather shoes in those two, you won’t lose out!” an elderly man said with a cheerful grin.

“That makes sense!” The young man, caught up in the moment, paid another twenty yuan for two more blind boxes. Opening them, he found—again—two wallets.

“Damn!” The young man’s frustration deepened.

“Hey, don’t get discouraged. Nowadays, a pair of leather shoes costs at least a hundred yuan. Even if you buy ten boxes and only one contains leather shoes, you’re not losing out. Plus, you pick up five free wallets along the way, don’t you?” someone else continued to encourage him.

“Right!” Whether due to their prodding or his own unwillingness to give up, the young man promptly bought five more blind boxes and began opening them one by one.

With each box, his face fell further, and by the fifth—five wallets, no shoes—his expression was utterly crestfallen.

Having bought ten boxes in total, he’d drawn the attention of the crowd, including those who’d been encouraging him.

“Ahem, actually, your luck isn’t so bad. Look, all five wallets are different styles!” someone tried to comfort him.

“Maybe try five more!” someone else urged.

“Kid, forget it. Don’t buy any more. Your luck’s just not with you today,” another advised.

“No way! If I leave now, that hundred yuan I spent is wasted, isn’t it?” The young man unexpectedly retorted, then handed Shen Yuequn another ten yuan. “Boss, one more!”

By now, Shen Yuequn was paying attention to him and handed him another blind box. Again, it was a wallet.

“One more!” the young man insisted.

“Another!”

And so it went—five more blind boxes, all yielding only wallets, with no sign of leather shoes. Even Shen Yuequn was beginning to feel embarrassed and suggested, “Kid, let’s call it a day. Your luck’s not good right now—try again another time.”

“No! I've already missed out on fifteen. If I quit now and come back tomorrow, I’ll be starting from scratch and all the money I spent today will be wasted!” the young man declared.

His logic was muddled, his mindset shot, and his grasp of probability clearly lacking—any math teacher would have been exasperated. But the young man was already too deep in to heed anyone’s advice. All he could think was: if I stop now, everything I’ve given up so far will have been for nothing.

This was, in economic terms, the sunk cost fallacy—what’s commonly called a gambler’s mentality.

So, the young man kept buying blind boxes, never more than one at a time, but without pause. Each time he got a wallet, he’d buy another.

Clearly, he wouldn’t quit until he drew a pair of leather shoes.

In this way, he bought nearly fifty blind boxes—almost five hundred yuan spent—with not a single pair of leather shoes to show for it. By then, everyone had gathered around, and he became the center of attention.

To be fair, if it weren’t for the fact that others in the crowd were intermittently drawing leather shoes from their own boxes—proof that there were indeed plenty of leather shoes in circulation—people might have started to suspect Shen Yuequn of cheating.

But for the young man, it was all the more painful: buying fifty boxes and not winning once, while watching others hit the jackpot in a single try. One can only imagine how shattered his spirits were.