Spice and Wolf: MERCHANT MEETS THE WISE WOLF

ORIGINAL STORY BY ISUNA HASEKURA

I wonder if Mr. Lawrence will be okay?

It won't be easy.

He'll need a crazy amount of pyrite, or he won't have a chance.

We'll have to pray that Diana's messenger comes.

If he becomes desperate and sells an insufficient amount of pyrite,

it'll only fire the people up even more and move them to put

themselves on the waiting list because there is more pyrite to buy.

If that happens, the value will rise even more.

So Mr. Amati can pretend to sell pyrite

just to test Mr. Lawrence's patience.

Exactly.

You're pretty smart.

Where is Holo?

Another name is on the waiting list.

I bet the price is going to rise again.

Maybe I should buy some now too.

How much more can it even rise?

No way! It has gone up that much?

I assume it's going to go up 20% by noon.

I shouldn't have given up and just bought some.

It's still going up little by little, huh?

If I remember correctly, Amati has

800 silver coins worth of pyrite.

What'll happen if it goes up 20%?

It'll be worth 960 coins.

If that happens, I'm sure he will immediately scrounge up

the remaining 40 silver coins from his belongings

and successfully fulfill his side of the contract.

Before the "poison" of selling on margin

can take effect on him.

"The poison of selling on margin"?

Where is Ms. Diana's messenger?

If Holo was with Amati this whole time,

she may have shared quite a bit of knowledge with him.

Oh! Oh!

Oh! Oh...!

Another buyer.

-At this point... -I can't wait any longer!

No, it will go higher, I'm sure.

How much is it now?

-It will, I swear! -Go for it!

Oh, no...

So was it really

Amati who made a deal

with Ms. Diana?

But even if Mr. Amati wins,

Mr. Lawrence still gets money, right?

That's exactly right.

So, from a merchant's perspective, that is a success.

But he will also lose something very big.

Because it's something that you cannot buy again,

no matter how much money you pay.

Why not sell it?

No, I'll wait and see.

I know it's going to go higher!

Are you trying to rely on

the alchemists' stockpile?

I thought you signed the contract because you already had a seller!

Unfortunately, I didn't have the time.

Someone else has already come here to buy some.

I will do the negotiating.

Where will I be able to meet you

for sure tomorrow?

-The waiting list isn't moving. -What about the sellers?

-There's no hope... -Another one is on the waiting list!

-Wow, how far is this going to go? -Keep it going!

This is no time to be working!

You didn't mind giving me up for 1,000 silver coins.

Man, I should have waited!

He's looking for someone too?

-Someone's selling! -It's a seller!

-Is it Amati? -How much?

How will the price change?

Excuse me! Sorry!

-Please let me through! -What in the world?

Oh, uh...

Another buyer!

Everything that guy sold is gone already.

That was quick.

Is the status quo changing?

-Is it time to sell? -No, it's still time to buy.

It's fluctuating like crazy today.

Holo!

S... Sorry.

Oh, it's you.

Someone came by our store and asked

if he could pay for the wheat using those rocks.

-How much? -250 coins.

Bring it as soon as you can.

-Hurry! -Yes!

-Another seller! -I need the price to go higher!

There are more sellers now.

I'm going to buy. Now is the time!

The price isn't getting any lower.

Amati bought 500 coins worth

of pyrite from Lawrence.

But he only has the bond and not the actual product.

The actual product will be given to him this afternoon.

Do you understand what that means?

It's easy to sell bonds for items that may rise in value,

but nobody will buy bonds for items that will drop in value.

That's exactly right.

Nobody will go anywhere near something so risky.

Once the market value drops and pyrite goes back to being just a rock,

the bond that he spent 500 silver coins on

will be nothing but scrap paper.

Whoever has it last will go bankrupt.

That's right.

That's the poison of selling on margin.

I think it hit its limit.

-Whoever can wait now will win. -It's good enough. I'm selling mine!

Please hurry up, Landt!

-It's time to sell. -Ms. Holo?

-Before it goes down... -Ms. Holo!

-Another buyer! -How much was it?

-I can't see! Move out of the way! -That was a huge purchase!

The price went up again.

I don't think I can wait anymore.

-Will it keep rising? -It's reaching its limit.

If I go now, the buyer's waitlist isn't too long.

If I sell all the pyrite that I have on me...

I'm selling!

-A seller? -That much?

-That will affect the market. -Did I miss my chance?

No, it'll still rise. You still have a chance.

If I get

400 coins worth of pyrite from Ms. Diana right now,

I can definitely affect the market value.

If the messenger comes now...

Mr. Lawrence!

Mr. Lawrence!

I'm sorry for the wait.

This is 250 silver coins worth.

-What's the matter? -Oh...

If I want to be safe,

I should wait for Ms. Diana's messenger but...

But...

-Is that person really going to come? -Huh?

That's right...

I already

gave up on that, didn't I?

If I'm going to take a gamble...

I have to do it now, before they start buying.

Another big transaction!

What's the price now?

I told you!

It wouldn't have gone up this much.

-If you had given up that time. -You're right.

-It's a price support. -That's an all-time high!

-What happened? -It's time to buy!

There are more buyers.

It changed the status quo of the market.

In that case...

I'll have to wait for Ms. Diana's messenger.

Look!

Holo...

There's no doubt about it.

Amati knows about the poison of selling on margin.

Mr. Lawrence!

I don't have time.

Please, hurry! Please!

Are you Mr. Lawrence?

You are Mr. Lawrence, right?

Y... Yes.

I have a message from Ms. Diana.

"The negotiation fell through."

"They did not agree to sell it."

That is what Ms. Diana says.

She says, "I apologize for disappointing you."

If you will excuse me.

Mr. Lawrence.

Mr. Lawrence!

Mr. Lawrence!

Mr. Lawrence!

Sorry...

You went through a lot of trouble for me, huh?

No...

It was nothing.

Can you tell Mark

that my plan failed?

Well, I'm getting 1,000 silver coins from Amati,

so I should be happy as a merchant.

Here, take this for yourself.

Mr. Lawrence!

Are you going to give up?

My master always tells me that merchants must not

give up easily!

He says, "The god of money-making

does not bless those who pray."

"He blesses those who don't know when to give up"!

I...

fell in love with