In today’s harsh economic climate most people are being pretty cautious with their money. The US economy is sluggish as everyone buttons down their hatches and stashes their cash into savings accounts and low risk investments. Apparently Macau, China isn’t having such concerns.
Enter Macau
It seems the price of the legendary white truffle is going up. Back in 2007 Ho paid $330,000 for a single truffle that weighed in at 3.3 pounds (1.497 kilograms). Now the poor man has been forced to cough up the same amount and for a mere two truffles of a combined weight of 1.3 kilograms.
The auction was, not surprisingly, held at Ho’s own Grand Lisboa hotel in Macau while bidders shouted out offers from around the world through international satellite links.
The auction sold off a total of 16 blocks of truffles for a combined worth of $417,200 which, thankfully, all went to charity. So Ho has really proven himself to be a paragon of giving; Ho Ho Ho.
The ultra-expensive white truffles come exclusively form Northern Italy where specially trained truffle sniffing pigs root them out. The rising prices for white truffles have been tied to climate change and the resultant growing scarcity.
Rising costs are clearly no match for the massive success that the casinos of Macau have been seeing. Last October saw gaming revenue in Macau hit its highest value yet with $2.36 billion USD. Yes, that’s billion with a “B” and that’s for one month. This represents a 505 increase over October of 2009, so yes, things are looking up for Mr. Ho. He can probably afford a couple white truffles.
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