Birds have been kept as pet since ancient times. 
In falconry, the old sports for noblemen, birds-of-prey were raised to hunt other
 animals or birds. In the other gentler side,  pigeons were also bred and trained;
 in this case, they carried messages for their keepers, often,  in sieges or other
 difficult situations. Many commanders relied on the homing ability of pigeons to
 pass information to the outside.  In World War I, a brave American pigeon, Cheri Ami,
 won the Croix de Guerre with Palm by delivering 12 messages to save the lives of 
a lost battalion of the 77th Infantry Division at Verdun. The employ of carrier
 pigeons for remote posts was fading out by 1950s; nevertheless, 
Chinese have now started to develop new carrier-pigeon units to back up modern
 communication equipment in case of interference by electronic or electromagnetic
 jamming.  Nowadays, some pigeon fanciers have devoted to the sport of racing pigeons, 
which has probably 80 years of history. 
The latest World  record of sale price of a pigeon at an auction was fetched by a Belgian 
racing pigeon called Bolt at 310,000 euros (about £260,000; US$400,000)
in May 2013.  The previous record was £209,000 (US$328,000) in January 2012,  
beating the November 2011  highest record of £142,000 (US$220,000). The successful bidder was again a businessman from China. 
At the 2012 internet auction held by Pigeon Paradise (PIPA), Mr. Hu Zhen Yu, 
a Chinese shipping magnate, bought the hen of Dolce Vita breed
 for breeding, not for racing.
 Pigeon races are catching up in Asia from Taiwan to China and Japan, and money has 
lured enthusiasts in big events -  tens of thousands of pigeons were released each and a winner
 netted  10 million yuans (US$1.5 million)  in a  recent 300 mile in China.
The high price of the pigeons has sparked  debates  among the racing communities 
as most of their members are only of middle class.  The bidding price of squads or
 unfledged  pigeons  may start from US$20.  The base price is typical about $300 for
 untested young birds in the United States and the highest price for pedigreed ones or
 champions  may reach to $25,000. This new Asian interest  might have unnerved
 the European fanciers,  although the breeders seem to welcome the demand of 
their top pigeon stocks . The sport of pigeon racing is only confined for enthusiasts
  worldwide, although,   Mike Tyson, the heavyweight boxing legend, 
 might now have  brought some attention to this sport in the United States. 
The sport itself has its own controversies. 
  The distance of a race ranges from 100 to over 900 miles.  According to 
 statistics, a sizeable number  of race pigeons  has never returned home.  One 
 could only speculate on the fate of the pigeons .  In Taiwan,  they have races  held over
 the ocean in which  some pigeons were documented dropping and drowning in the water.  
In a  new 15-month  investigation by PETA (People for the Ethical Treatment of Animals) 
on pigeon racing reports on abusive practices in training, killing of unwanted birds and
illegal gambling amounted to $15 million in the United States.