The Xinhua News Agency, the official news agency in China, has announced that China has stopped the Beijing-based company Lunar Embassy from selling individuals an acre of land on the Moon for 298 yuan (about $38.56 in U.S. dollars). It was reported that the company had already sold 49 acres to 34 customers over a three day period for over 14,000 yuan ($1,812).

In response to it having its business license revoked by the Haidian District People's Court in 2005, Lunar Embassy sued the Beijing Administration of Industry and Commerce. However, its appeal was lost due to previously enacted space law. The Chinese court that heard the case, Beijing First Intermediate People's Court, cited an international treaty that China signed in 1983. The treaty stated, “...outer space, including the moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by other means. The exploration and use of outer space shall be carried out for the benefit and in the interests of all countries.” [India News]

However, Lunar Embassy still has an active Web site: http://www.lunarembassy.com/. It appears that the company is still selling lunar property to other countries around the world, just not in China anymore. The company markets itself as, “The founders and leaders of the extraterrestrial real estate market.”

It appears that U.S. citizens can (supposedly) buy an acre of the Moon for $19.99,. Of course, lunar tax will cost you $1.51 and shipping and handling of the paperwork is an additional $12.50.

Please be advised of the saying that applies on the Moon as well as on the Earth: “Caveat emptor” is Latin for "Let the buyer beware".

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