Zimbabwe: Ivory Auction Abandoned Over Price Deadlock

Authors: 
The Herald
Document Type: 
Media
Citation: 
The Herald. (2007, August 8). Zimbabwe: Ivory Auction Abandoned Over Price Deadlock. [Online]. Available: http://allafrica.com/stories/200708090215.html [2007, August 8].
Year Published: 
2007
Type Work: 
Newspaper Article
Availability: 
Online
Language: 
English
Country: 
Zimbabwe
Url: 
http://allafrica.com/stories/200708090215.html
Bushmeat Asian Type: 
Bushmeat
Keywords: 
Zimbabwe; ivory; auction; trade; elephants
Abstract: 
STALEMATE over the reserve price on more than two tonnes of ivory which was supposed to go under the hammer last week resulted in the auction being abandoned after the buyers decided not to take the available stocks. Those at the auction said buyers did not like the high reserve price, a minimum price, set by the Zimbabwe Parks and Wildlife Management Authority. They said up to May the Parks Authority was selling a kilogramme for $225 000 and the price went up to $1 million in June. According to a document prepared by the auctioneers, Desired Liaison Auctioneers (Pvt) Ltd, the auction was open to licenced ivory manufacturers and highest accepted bidders would be declared the purchaser, subject "to the reserve price". He said 35 lots were supposed to go under the hammer but nothing was bought because the highest cash offer that the buyers were prepared to pay was $1,5 million per kilogramme, an amount the auctioneer did not agree with....
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