Episode Summary
Gu Pingyuan wins the auction for the Kang estate after a bloody intervention by Su Zixuan. However, the Prince arrests all the major merchants immediately after the sale. It is revealed that Li Wantang orchestrated the entire crisis to bankrupt the Old Eight Families and seize their market share. Stuck in jail, Gu Pingyuan unites the rival families to form a banking coalition to fight back.
Spoiler Alert
Legend of the Magnate Episode 9 Recap
The Auction from Hell
The episode kicks off with a history lesson. Years ago, the Intruder King Li fled Beijing with 70 million taels of silver. He dumped the loot in a small Shanxi village. Eight families used that cash to build their empires. They became the "Old Eight Families."
Now, the Kang family is out of the club. They lost the Prince's army supplies. The government wants their heads. The Kang eldest son, Kang Suyuan, has to sell everything. He auctions off the family land and deeds to save his kin.
Gu Pingyuan is under pressure. His boss, Wang Tiangui, wants the Kang estate. If Gu fails, his friend Chang Si stays in prison. But the competition is stiff. Merchants from all over want a piece of the pie.
Su Zixuan Plays Dirty
Su Zixuan sits at the auction. She is calm. Too calm. She tells everyone that some things matter more than money. Then she walks out. Gu Pingyuan knows exactly what that means. She isn't leaving to quit. She is leaving to kill.
Screams erupt outside. The other bidders drop like flies. The remaining merchants panic. A manager tries to claim it's just a drunk brawl. Nobody buys it. Su Zixuan walks back in. She looks innocent. Gu Pingyuan confronts her. He begs her to back off. She threatens him instead.
The police surround Jinyang Villa. You would think this stops the auction. It doesn't. The bidding war explodes. Jin Mistress throws money down. Gu Pingyuan counters. Li Qin tries to join with 20 million taels. Su Zixuan tells him to walk away. He refuses. He teams up with Gu Pingyuan.
Gu Pingyuan wins. He bids 26 million taels. The Kang estate is his.
The Prince's Trap
The victory lasts about five minutes. The Prince marches in. He doesn't care about the sale. He arrests everyone. Gu Pingyuan and the heads of the Old Eight Families get thrown into a cell.
This was never about the auction. It was a setup.
We learn the truth about Li Wantang. He is the mastermind. He brought the Prince here. He wants to open his own bank, the "Taiping Business." He wants a monopoly on Shanxi banking. He also wants that legendary rebel treasure.
Li Qin is in for a shock. He sees his father, Li Wantang, conspiring with the Prince. He realizes his dad is the villain.
Jailhouse Negotiations
Life in prison is rough. The guards serve moldy food. The wealthy merchants refuse to eat. Gu Pingyuan forces it down. He needs his strength.
The Prince's advisor offers a deal. Each family must pay 3 million taels. They refuse. The advisor offers a "solution." They can borrow the money from Li Wantang's new bank. They just have to sign a loan with high interest. The merchants see the trap. They refuse again.
Li Wantang visits the cell. He plays the nice guy. He asks for the Intruder King's treasure. Jin Mistress denies it exists. Gu Pingyuan calls him out. Li Wantang admits he framed the Kang family. He burned their supplies to create this crisis. He wants to bankrupt the Old Eight and take over.
The Counter-Attack
The merchants are starving. Their resolve is breaking. Gu Pingyuan realizes they are playing into Li Wantang's hand. He comes up with a desperate plan.
He tells the other merchants to sign the debt notes. They think he is crazy. They don't have the cash to pay it back. Gu Pingyuan proposes a union. The eight families will guarantee each other. They will pool their resources.
He suggests a "General Office" to manage the funds. This prevents a bank run. He nominates himself to run it. The other merchants have no better ideas. They agree. Gu Pingyuan calls for the guards. He is ready to negotiate with the Prince.
