Owned by Bankrupt Millionaire Known as the "God of Crocodiles"
Starting Bid Set at 800 Million KRW... Two Previous Auctions Failed
A Chinese millionaire nicknamed the "God of Crocodiles" went bankrupt, prompting a Chinese court to auction off 100 tons of live crocodiles, drawing widespread attention.
On the 7th, Hong Kong's South China Morning Post (SCMP) reported that the Nanshan District People's Court in Shenzhen, southern China, has been conducting an auction of 100 tons of live Siamese crocodiles since the 10th of last month. The starting bid is 4 million yuan (approximately 800 million KRW).
These crocodiles originally belonged to Guangdong Hongyi Crocodile Industry Company, founded by Mo Junlong in 2005. Mo was once nicknamed the "God of Crocodiles," and the company had a registered capital exceeding 50 million yuan (about 10 billion KRW). However, when the company failed to fulfill its debt obligations, its assets were seized, and the court began liquidating the company's assets.
The crocodile auction, running until the 9th of next month, has attracted significant online interest. Over 4,000 people have visited the auction website so far. However, there are no bidders yet. The winning bidder must personally catch and weigh the crocodiles and bear all costs related to loading and transportation. Additionally, the auction notice stipulates that buyers must hold a permit for the artificial breeding of aquatic wild animals classified as crocodiles and possess the necessary facilities and transportation capabilities to handle such a large quantity of goods. If the buyer fails to meet either of these two requirements after purchase, the court will impose a fine of 300,000 yuan (approximately 60 million KRW) for non-compliance. Since a Siamese crocodile typically weighs between 200 and 500 kg, the total number of individuals in the 100 tons is estimated to be around 200 to 500.
The Siamese crocodiles up for auction have been included in the list of wild animals that can be commercially bred and traded in China since 2003. SCMP explained that crocodiles are considered highly profitable species because they are used to produce over 100 products, ranging from leather and meat to health supplements, cosmetics, and even wine.
Meanwhile, this is not the first time these crocodiles have been put up for auction. The court held two auctions in January and February with starting bids of 5 million yuan (about 1 billion KRW) and 4 million yuan, respectively, but both failed to attract buyers.
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