An albino buffalo nicknamed 'Gun' for his prolific virility on stud farms has been sold for a whopping 400,000 GBP at an auction in Thailand.

The white-haired bull has covered more than 1,000 cows - earning him the title of the country's top breeding buffalo and consistently beating other competitors in showing contests.

Four-year-old Gun is now retiring from the competitive buffalo shows circuit after being sold for the eye-watering sum of 18 million baht (around 400,000 GBP) at the 12th Uthai Thani Thai Buffalo Festival in Uthai Thani province on March 10.

The sale was the most expensive in the festival's history.

The seller Damrongsak Morakut, owner of the 9 Morakot Farm in Phetchaburi, said he had bought the beast for two million baht (43,780 GBP) when the farm animal was only around two years old.

He said the bull has served as a cash cow for his family during the Covid-19 pandemic, with its seed generating around up to 10 million baht (219,000 GBP) in revenue. Its sperm was prized because it reportedly had a significant chance of producing albino offspring.

Gun, whose full Thai name is Ko Muang Phet, has also won dozens of showing contests because of his appearance, strength and muscular form.

Damrongsak said: 'Selling my top buffalo was a difficult decision to make because I have been taking care of Ko Muang Phet since he was young. We have been together through thick and thin. Because of him, I was able to support my family, and even buy a house and a car.

'I was worried at first, but I saw that the buyer was determined to take care of Ko Muang Phet and contribute to the buffalo industry.

'He has an excellent temperament and he is the strongest buffalo we have ever seen.'

Gun's wealthy buyer, Pho Liang Jay, owner of the Wanasuwan Farm in Chiang Rai province, said that despite the steep price tag, the buffalo was a worthwhile investment because of the price people are willing to pay for their cows to be covered.

He said: 'Ko Muang Phet is a premier albino buffalo. He is aged four years and 10 months and is 157 centimetres tall. He is still growing and will reach a full height of 180 centimetres. I am hoping he will make around 50 million baht (1,094,400 GBP) in five years.'

Meanwhile, Deputy Interior Minister Chada Thaiset said the festival was a way to grow the region's buffalo trade, which is currently valued at around annually 403 million baht (8,821,000 GBP).

He said buffalo was an important product in Uthai Thani, along with rice and gourmani fish.