Friday, February 3, 2012

Chinese Buyer Pays $328000 for a Pigeon

The luxury Lifestyle blog (the home of luxury Lifestyle) presents Chinese Buyer Pays $328000 for a Pigeon.

A Chinese shipping magnate has paid a world record-high $328,000 for a Dutch pigeon, according to PIPA, an international pigeon auction house.

The buyer of the most-expensive pigeon on record, PIPA said, is Hu Zhen Yu, who runs a shipbuilding company in China.

He bought the bird for breeding rather than racing in China, where pigeon fancying is a fast growing sport and big business.

The bird was auctioned off in a group of 245 pigeons on the Belgian website Pigeon Paradise. The auction total take of $2.5 million was also a record.

Pigeon racing has a long and storied history in Western Europe. The sport dates back to the Romans and Charlemagne, who made pigeon-raising the exclusive privilege of nobles.

In today’s races, pigeons are launched hundreds of miles from their home, or “loft.” The first birds back win the race.

The sport has taken off in Asia, and especially China, which loves any kind of race that creates a betting opportunity.

Sources: WSJ - Telegraph

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