It could be a while for these crocodiles.
A Chinese court is trying to auction off 100 tons of live crocodiles for the third time since they were acquired from a bankrupt company, and is struggling to find any interested bidders for the lot of scaly predators.
The Shenzhen Nanshan People’s Court announced that the questionable auction of the roughly 200 to 500 beasts would start at 4 million yuan, or $550,000 — after two prior auctions got no bites.
The crocodiles were previously owned by the Guangdong Hongyi Crocodile Industry Company, which was founded by Mo Junrong, the “Crocodile God.”
But the company failed to meet its financial obligations and was forced to liquidate its assets, including the horde of reptiles, the South China Morning Post reported.
In China, crocodiles are a top commodity and are used in more than 100 products ranging from makeup to wine. The ones offered are all Siamese crocodiles, which are commercially farmed and traded in China.
But the potential wholesale bargain isn’t all it’s crocked up to be.
The court isn’t keen on paying for shipping or handling the mass crocodile transport itself, and it hasn’t been able to find a buyer willing to pick up the fanged creatures.
Anyone interested in purchasing the hundreds of reptiles has to cover the costs of collection, including capturing and loading the animals. Buyers must also hold an artificial breeding license for aquatic wildlife for crocodiles and have a proper place to keep them.
No one has registered for the auction yet — clearing the way for a failed third attempt to offload the crocs.
The last auctions were held in January and February with a starting price of 5 million yuan, which was then scaled back to 4 million. No one bid on either auction.
