Although the hotel was passed in at auction during Saturday morning it was later sold “during private negotiations to a prominent Territory family”, auctioneer David Loveridge said.

No price was given for the sale which has been owned and operated by the well-known Barry Sharpe for the past 15 years.

It was said to have “unlimited potential” for a new owner.

It came as the equally famous Grove Hill hotel closed its doors for good on the weekend.

Mr Loveridge said the Pink Panther was one of 10 designated unique outback pubs of Australia.

Besides its quirky exterior, the sale included three crocodiles and hundreds of other animals.

Mr Sharpe said he was ”hoping a family interested in a remote unique pub, will take over and become part of the community”.

Of course the hotel rose to fame this year during the failed search and later inquest for regular drinker and part-time employee Paddy Moriarty who went missing from the town of 11 on December 16 last year.

At this year’s inquest held in Katherine, which remains open, the dysfunctional nature of the Stuart Highway town was laid bare.

Mr Moriarty and his dog Kellie have never been seen since but the inquest rubbed raw many of the town’s simmering feuds.

It was sold on a "what you see is what you get" basis.

Mr Sharpe ran the hotel for 15 of the 28 years he's lived in the town.

Mr Sharpe has been forced to sell the pub and retire because of ill health.

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