Wood you believe consumerism?

HANOI: A rare tree was felled in Vietnam after a businessman paid $1.1 million (R12.3m) at an auction for its lumber.

The sua tree, which had been collectively owned by villagers in northern Vietnam’s Bac Ninh province, was sold for 24.5 billion dong.

Timber from the sua tree, or dalbergia tonkinensis prain timber, is banned from commercial sale in Vietnam, although private auctions are still allowed.

Sua furniture is highly valuable in China as the nouveau riche seek the prestige of having furniture made of precious and rare wood.