Neither a borrower nor a lender be in China, especially when the collateral comes from outer space
Meteorite used as down payment by friend for large loan leaves lender in quandary over its worth and ownership
A man in southwest China who lent 110,000 yuan (HK$130,000) to friend three years ago was surprised to be repaid not with cash, but a meteorite, a regional newspaper reported.
The man, surnamed Wang, said his friend wanted to use the space rock as security for the debt, but trying to establish its true worth – and original owner – has proved to a true a headache for Wang, the Chengdu Economic Daily reported.
Last month, Wang, who runs a catering business in Tibet, met his friend in Luzhou, in Sichuan province, where he laid eyes on the meteorite for the first time.
The black and reddish stone, about 6cm wide and 4.5cm long, weights about 700 grams.
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Wang’s friend said he bought the stone for 75,000 yuan from a seller who discovered it in a wild area between Yunnan and Sichuan provinces.
“The stone feels harder and heavier than ordinary ones, and its texture is very fine,” said Wang. “What’s also special is that it is magnetic.”
Wang sent photos of the stone to a meteorite researcher in Shanghai who said it closely resembled a real meteorites and suggested that he bring it to Shanghai for a further examination.
In addition to the stone’s market value, Wang also found it difficult to establish the ownership of meteorites.
Under Chinese law, all mineral resources and fossils found in the country belong to the state. But the rules do not specifically mention meteorites.
