Jewelry, antiques, and houses can all be auctioned, but have you heard of auction islands?

The Indonesian archipelago and nature reserve "Verdi Protection Place" comprising more than 100 islands is reportedly up for auction at Sotheby's Concierge Auction in New York.

$100,000 is required to enter the bidding process. Since the island to be auctioned belongs to the Indonesian national property and is legally owned by the Indonesian people, and it is an important nature reserve in the world, this auction also sparked heated discussions in Indonesia.

More than 100 islands to be auctioned are national assets

The archipelago, called the Verdi Protection Place, is about a two-and-a-half-hour flight from Bali and a four-hour flight from Singapore, according to the auction listing.

Contains hundreds of uninhabited tropical islands, with 150 kilometers of white sandy beaches, beautiful and lush coral reefs, and 25,000 acres of tropical rainforest.

Bidding for the Verdi Protection Place opened in the early hours of December 8, auction rules show. While an expected starting price was not stated, interested parties must submit a $100,000 deposit to bid. Successful bidders are expected to need to invest "substantial" amounts of money into the development.

The auction house explained that the "Widi Protection Place" is regarded as a national asset of Indonesia and legally owned by the Indonesian people.

But the investment company Leadership Islands Indonesia currently has the exclusive right to develop and manage the island. This company can develop luxury resorts and residences on the island.

While Indonesian law generally does not allow private ownership of islands, a stake in a business with development rights can be sold to anyone. So what will actually be auctioned will be a stake in the business and a development plan to turn the reserve into a luxury resort.

After the auction is completed, it is expected that the buyer will be able to develop eco-homes and resorts on the island, and new businesses can be established on the island. Local Indonesians can also work here. Each eco-house can accommodate one to eight bedrooms, with 500 rooms spread across 17 islands, the auction listing said.

A private airstrip is also included in the development plans to serve guests from places like Bali, Jakarta, and Cairns.

The auctioned island is an important protected area of the earth

But in particular, the Verdi Protection Place is a marine reserve located in the "Coral Triangle" region of eastern Indonesia, which is considered to have "one of the most complete coral atoll ecosystems on Earth". According to WWF, there are 600 different species of reef-building coral in this area alone.

According to reports, a Sotheby's spokesperson said that the "Verdi Protection Place" was established as a marine protected area in 2020. Its tropical rainforest has been designated as a highly protected area. Although the reserve is uninhabited, it is occasionally visited by villagers and fishermen from Indonesia's main island.

Near the reserve, an underwater mountain connects to the Mariana Trench, the deepest ocean trench on Earth.

According to the auction listing, it's the perfect habitat for hundreds of rare and endangered species.

A spokesman for Sotheby's said that because the waters of the protected area inhabit hundreds of rare and endangered species such as blue whales, whale sharks, leatherback turtles, and giant squids, parrots, kingfishers, and falcons live in the tropical rainforest, and there are also birds that have never been seen before.

The Verdi Protection Place can be considered "one of the most biodiverse and ecologically significant places on Earth".