Have you ever heard of news about sales of certain items that have increased dramatically? For example, from those that cost tens or hundreds of millions of rupiah, suddenly it becomes millions, tens of millions, even hundreds of millions of rupiah! No doubt, these items have become rare items and have attracted the attention of many people to serve as business opportunities.


Even if it sounds good, you still think carefully before making a decision. The problem is, it could be that the business opportunity is just an economic bubble phenomenon which in turn will make business actors run a monkey business. So, what is meant by these two phenomena and what is the example like in Indonesia? Let’s look at the following explanation!


What is an economic bubble?

Reporting from kompas.com, an economic bubble refers to a situation when the price of a product in a certain market segment has experienced an extraordinary increase or is not fair, and occurs in a relatively short time. Even though it can promise a large profit, in the end the price of this item can fall back down again.


What is a monkey business?

Reporting from amartha.com, although using the term monkey, this phenomenon is not at all related to the monkeys buying and selling business. The term monkey is used as a metaphor for the attitude of business people who don’t care about their customers after making a profit.


Why does monkey business happen?

One of the factors that can cause this phenomenon is when a business becomes a trend so that it is in great demand. However, the number of items available was not so large that they became scarce. This has triggered the emergence of an economic bubble, where the price of this much sought-after item has risen drastically and in the end has created opportunities to reap huge profits through monkey business. So, what are some examples of monkey business that have occurred in Indonesia? Here’s the review!


Monkey business phenomena that have existed in Indonesia

Basically, the emergence of monkey business in Indonesia is not new. The problem is, if we look at previous years, there were also several types of goods that were sold at exorbitant prices. Let’s look at some of the following examples!


1. Agate

The agate business phenomenon emerged around 2014. Reported from merdeka.com, this started when Susilo Bambang Yudhoyono, the 6th President of the Republic of Indonesia, gave a Bacan agate to Barack Obama, who at that time served as President of the United States. As a result, the agate became the target of many people and even cost tens of millions. The popularity of agate then started to spread, but by the end of 2015, this trend started to fade.


2. Gecko

Well, if this one business opportunity started to boom around 12 years ago. At that time, the gecko that was looking for was a gecko that could beep five times at a time. You see, most geckos only sound a maximum of four times. The price alone can reach hundreds of thousands per ounce. So, do not be surprised if there are many people who search for geckos, even making gecko farms. Some believe that the gecko can be consumed and used as a cure for HIV / AIDS.


3. Anthurium plants

Anthurium Jemani is also one of the plants that was once a monkey business opportunity in Indonesia. At that time, the price of one plant could reach hundreds of millions. In fact, the popularity of plants with large and wide leaves can make other types of ornamental plants boom too. Not a few people are eyeing Anthurium, both for collection and for sale again. When the Covid-19 pandemic began in 2020, Anthurium hit again, but the price was not as high as before.


4. IDR 1,000 Palm Tree Coin

In mid-2020, we also heard about IDR 1,000 palm tree coins, which cost tens, even one hundred million. This of course caused polemics in the community. However, as reported by Suara.com, Bank Indonesia has confirmed that the metal coin has not been withdrawn from circulation so that it is still a legal tender.


5. Lovebirds

If you are a bird lover, then you must be familiar with lovebird. This type of bird has also been used as a monkey business opportunity and the price reaches billions of rupiah! However, the sales process is also not instantaneous. You see, bird lovers need to know the right season to make sales. Moreover, birds will also experience a change of feathers. Although now the price of lovebird is not as high as it used to be, this type of bird is still a target for bird collectors.


6. Gelombang Cinta plant

A few years ago, this plant, which has wavy green leaves, was once a plant that was much hunted. At that time, the price reached millions of rupiah. Usually, this plant is used as decoration inside and outside the home. However, the price of this plant then plummeted after many breed it. Even so, this plant is still in great demand by plant lovers.


7. Janda Bolong Plant

Well, in 2020 yesterday, the Janda Bolong plant apparently started to rise. At that time, the price of widow plant seeds could reach millions of rupiah. Meanwhile, the price of one plant was once sold for tens of millions of rupiah. Usually, this monstera plant is used as decoration to beautify the home page. Its popularity has skyrocketed due to social media. Its Instagrammable appearance has made it attractive to many people.


Basically, monkey business commodities are temporary commodities. Therefore, it’s a good idea to consider carefully before deciding to get involved in it. Do not let, just because "talkative," you only focus on thinking about your own gain. Because basically, the process to achieve success is not instantaneous, right?
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