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.
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
- Apple's stock is slipping, but its brand value isn't
- Welcome to the future: 3-D printable pizza
- Target blames weather for soggy results
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
Copyright © 2014 Microsoft. All rights reserved.
[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.
Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More
More Market News
Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'