Developmental rights for an Indonesian archipelago of more than 100 uninhabited islands are due to go under the hammer at Sotheby’s in New York.
The 106-island chain lies about 1,000 miles (1,700km) northeast of Bali. According to the Sotheby’s listing, it is “one of the most intact coral atoll ecosystems left on earth and an animal kingdom of epic proportions”.
There is no reserve price, but any prospective buyers must pay a $100,000 deposit simply to make a bid for the “10,000 hectares (25,000 acres) of rainforests, mangroves, turquoise lagoons, lakes, and beaches”.
But because Indonesian islands cannot be bought by foreigners, bids are being accepted for shares in PT Leadership Islands Indonesia, a development company with its headquarters in Bali.
