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The logic at the time was that it would be cheaper to pay capital-gains tax on a one-off sale than to continue paying Harold Wilson's astronomic income tax.The purchaser was Booker Brothers, a company chaired by Campbell, which had interests in sugar plantations in Africa and the West Indies.
By most accounts, the agreement worked well until 1999, when a group of African states prevailed on CITES to allow a one-off sale to Japan of fifty tons of ivory from dead and culled elephants.
Susan Lieberman, director of WWF International's species programme, said the illegal trade was of more concern than the effect of the one-off sale: "The sight of ivory openly and illegally on sale in many African cities is likely to be a far more powerful encouragement to those contemplating poaching and smuggling, than a strictly controlled one-off sale.
Last week, after long and intense debate, the Kimberley process gave it the go-ahead to hold a one-off sale with any future exports tied to progress on the ground.
The auction is a "one-off sale of a small selection of books", she continued.
Real Madrid and its cast of stars have been helped by a one-off sale of land in central Madrid.
The next one-off sale was agreed by Cites in 2002 but has yet to take place.
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