Prehistoric waste fetches fair figure
May 21, 2008 by Shane BorerPosted in: "Seemed like a good idea at the time", Bad investments, In this week's e-newsletter, Latest news & views
We’ve heard of expensive deposits, but this auction for fossilized dinosaur excrement is taking things a little too far.
Sure, your company’s probably paid too much for a less-than-stellar product at least once or twice. Trust us, it couldn’t have been as bad as this purchase. A Bonhams New York auction recently fetched $960 for a 130-million-year-old piece of dinosaur dung from the Jurassic era.
It’s pre-auction estimate was pegged at only $450 (appraising an ancient number two — and you thought your job was tough).
The lucky buyer wasn’t a dinosaur enthusiast or museum curator. Nope. It was Steve Tsengas, owner of the Ohio-based OurPets, a company that deals in dog and cat waste treatment products.
Tsengas bought the excrement remains as — what else — a motivational tool for employees. He also plans to display it at the company’s booth during trade shows to help drum up business.
“Poop,” said Tsengas, “is a big business in the pet industry.”
Because nothing says “we know our customer” better than really, really old dung.
Tags: Auction, Dinosaurs, Marketing tool, Motivating employees
