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China Sold Crocodiles: The Shenzhen Nanshan People’s Court of China has started a unique verdict and started an online auction of 100 tonnes of crocodiles. This auction is being done on Alibaba’s Judicial Auction Platform. The initial bid of these crocodiles is kept from 40 lakh yuan (about US $ 5,50,000). The case is related to Guangdong Hongy Crocodile Industry Company, which was started in 2005 by a merchant named Mo Zunarong.
Mo Junarong was once called “Crocodile God” in China, but over time his company drowned in heavy debt. The company’s assets were confiscated, including 100 tons of live crocodiles. Now the court has decided that the company’s debt should be repaid by selling these crocodiles. The auction started on March 10, which will run till 9 May 2025, that is, bids can be made in a total of two months.
What do buyers have to do?
The court has also set several important conditions regarding crocodile auction in China. It is mandatory for the buyer to have a crocodile license. On winning the bid, we will have to bear the expenses of catching, weighing, lactating and transport itself. The deposit amount of 3 lakh yuan is necessary to participate in the auction. If a buyer is unable to meet the conditions, then his deposit will be confiscated.
Crocodile in China is not just an animal a business model
Crocodiles are seen as valuable business resources in the world. The products made from them include many types of things, which are as follows.
- Leather Goods
- Meat
- Drugs and medicines
- Beauty product
- Crocodile wine (which is popular in traditional Chinese medicine).
In 2003, the Chinese government allowed these semi -crocodiles to be commercially raised by the Chinese government. The weight of every crocodile can be about 200 to 500 kg, so it is equal to about 200 to 500 crocodiles. As soon as this auction came out, both debate and jokes started on social media.
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