Live Crocodile Auction Held for First Time in South Africa

South Africa’s first ever live crocodile auction was held last week as traders sought to establish the value of the reptiles in an industry where most transactions have been private.

The idea “was to gauge the prices for live animals in the local market as opposed to skin prices in the international maket,” said Neil Pentolfe, the owner of Southern African Crocodile Traders, in an interview broadcast by the South African Broadcasting Corp.

The auction took place at Wartburg in the southeastern KwaZulu-Natal province and hatchlings, yearlings and sub-adults were sold, according to the SABC. Of the 8,500 reptiles on offer 6,700 were sold, the Daily News reported separately, citing Brandon Pentolfe, the son of Neil Pentolfe.

Crocodile skins are used in the manufacture of shoes, belts and other clothing items while they reptiles are also bred for their meat.

Before it's here, it's on the Bloomberg Terminal.