As of the evening of 20/8, more than 5,800 people have registered to participate in the auction, attracting over 500,000 views of the cat. The tabby is currently the most popular item on the Ali Assets Judicial Auction platform.
The auction will commence at 10 a.m. on 3/9, with a starting price of 500 CNY and increments of 20 CNY.
The 3-year-old male cat is unneutered, has received two vaccinations, and is in good health. It has been cared for at a private veterinary center for the past two years. The cat is described as easy to care for, plump, and friendly. Its market value is estimated at around 714 CNY.
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The cat seized by the court as part of the debtor's assets. Photo: Ali Assets |
The cat seized by the court as part of the debtor's assets. Photo: Ali Assets
The cat was among the assets seized by the court in a 2017 financial loan contract dispute case, with the total judgment amounting to nearly 4 million CNY (approximately 560,000 USD).
A staff member at the veterinary center who has been caring for the cat noted that, based on market value, the cat isn't particularly valuable as it's not a rare breed and can be costly to maintain. They expressed surprise at the high number of people registered for the auction.
"I think it's the 'seizure' aspect that makes people want to rescue it," he said, revealing that he, too, has registered for the auction due to his two-year bond with the cat.
The auction post has garnered over 300,000 interactions. Many users jokingly referred to the cat as the "world's unluckiest cat" for having to be "sold off" to pay its owner's debts.
According to China's Civil Code and other legal regulations, pets are legally considered "personal property". Courts have the authority to seize and auction a debtor's assets to settle debts.
Auctioning pets has been implemented in judicial practice before. For example, livestock with high economic value, such as cows, sheep, and pigs, have been auctioned to repay debts on behalf of their owners.
Hai Thu (According to HK01, Epoch Times)
