A Chinese court is attempting to auction off 100 tons of live crocodiles for the third time, with little success in finding interested buyers. The crocodiles were acquired from a bankrupt company, the Guangdong Hongyi Crocodile Industry Company, founded by Mo Junrong, known as the “Crocodile God.” The company was forced to liquidate its assets, including the approximately 200 to 500 Siamese crocodiles that are now up for auction.
The auction price for the lot of crocodiles started at 4 million yuan, or $550,000, following unsuccessful previous attempts to sell the reptiles. Crocodiles are a valuable commodity in China, with more than 100 products made using crocodile parts, from makeup to wine. The Siamese crocodiles offered in the auction are commercially farmed and traded in China, making them a sought-after item in various industries.
Despite the potential value of the crocodiles, the auction has failed to attract any interested buyers, as the court is not willing to cover the costs of shipping or handling the animals. Buyers interested in purchasing the reptiles must cover the expenses of collection, including capturing and loading the animals, as well as holding an artificial breeding license for aquatic wildlife for crocodiles and providing a suitable environment for them.
With no buyers registering for the auction, it appears that the third attempt to offload the crocodiles will also be unsuccessful. Previous auctions held in January and February started at 5 million yuan but were later reduced to 4 million yuan due to the lack of interest from potential buyers. No bids were received in either of the previous auctions, highlighting the challenges the court faces in selling the large quantity of live crocodiles.
The failed attempts to auction off the crocodiles raise concerns about the fate of the animals, as finding a buyer willing to take on the responsibility and costs of transporting and caring for the reptiles has proven to be a challenging task. The court’s struggle to find a suitable buyer for the crocodiles reflects the difficulty in selling such a large quantity of live animals, particularly in cases where the animals were acquired from a bankrupt company.
As the auction process continues to face challenges and the fate of the crocodiles remains uncertain, the story sheds light on the complexities of dealing with assets acquired from bankrupt companies and the difficulties in finding buyers for unique and valuable items like live crocodiles. The ultimate outcome of the auction and the future of the 200 to 500 crocodiles remain uncertain, as the court grapples with finding a solution to offload the scaly predators.
