Here's why a pigeon just sold for $400,000

A Chinese businessman snapped up the champion bird, named Bolt, for a record sum that shocked the racing community.

By Kim Peterson May 22, 2013 2:11PM
Pigeons on rooftop coop in New York
© STAN HONDA/AFP/Getty ImagesA champion pigeon named Bolt is now the most expensive racing bird in the world, having sold for $400,000 over the weekend.

The year-old pigeon isn't even racing anymore. The buyer, a Chinese businessman, bought him for breeding, and his offspring will be used in competitive racing, The Associated Press reports.

Bolt's sale has shocked the bird-racing world. The last record-selling bird went for $322,000 in January 2012.

Bolt got a new owner after Belgian pigeon racer Leo Heremans, 66, decided to sell his 530 racing pigeons. The online auction drew buyers from all over the world, and Heremans made an estimated $5.7 million in the sale, The Daily Mail reports.

The star of the auction was Bolt, who is reported to have been named after the Jamaican sprinter Usain Bolt. The bird Bolt is considered to be the fastest pigeon in Europe.

Pigeon racing has been popular in Belgium, The Daily Mail reports. But now the focus of the sport may shift to Asia, as nine of the top 10 birds sold by Heremans were snapped up by buyers in China or Taiwan, AP said.

The sport can bring big bucks to the winners. One Arizona race last year offered $20,000 to the fastest bird, The Arizona Republic reports.

More on moneyNOW

7Comments
May 22, 2013 2:45PM
avatar
For 400 Grand, I give you all one guess as to who is the bigger "pigeon".
May 22, 2013 3:56PM
avatar
How much would a falcon cost to buy that one can train to eat racing pigeons?
May 22, 2013 4:31PM
avatar
If you can afford mid six figures for a pigeon then evidently you have a lot of money and so spending a lot of money on a hobby (or maybe you can make money from pigeon racing; I know nothing about it) isn't going to be a big deal to you. If I had millions and millions of dollars I'd prefer a yacht over a bird but that's just me... I really don't see why this is newsworthy. Wealthy people have expensive hobbies. If you had the money you'd have an expensive hobby...
May 22, 2013 2:48PM
avatar
Pigeons are a delicacy in 3rd world countries, like Mexico.
avatar

it would be my luck that on his first race he would be attacked by a bald eagle and taken back to it's nest for the young baby birds to have a gourmet dinner by the way the pigeon lost the race

avatar
what i want to know is this a real pigeon or stool pigeon ? from kgb or the cia
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

Trending NOW

What’s this?

MARKET UPDATE

[BRIEFING.COM] Recent action saw the S&P 500 (+0.1%) slip to a session low, while the Nasdaq Composite (-0.1%) is now in the red.

The tech-heavy Nasdaq has trailed the S&P 500 since the start and has been pressured into negative territory by the continued underperformance of chipmaker stocks. The PHLX Semiconductor Index has widened its loss to 0.8% amid weakness in 29 of its 30 components.

Furthermore, the index has also been pressured by the biotech group, which has ... More

MSN MONEY'S