Chinese e-Commerce Platform Auctions Two Boeing 747 Planes

  • Chinese e-Commerce Platform Auctions Two Boeing 747 Planes

Chinese e-Commerce Platform Auctions Two Boeing 747 Planes

Chinese air freight company SF Airlines just bought a pair of Boeing 747 jumbo jets that had been seized by the Shenzhen Intermediate People's Court through the site's judicial auction arm.

The buyer of the two jets was the Chinese cargo carrier SF Airlines.

The court made a decision to auction the planes on Taobao, the Chinese equivalent of e-Bay, after several offline auctions had failed to raise the required price.

Boeing is the United States based multinational airspace company that is popular for making great airbuses and even providing defense tools and machinery.

Founded by Alibaba Group on May 10, 2003, Taobao Marketplace facilitates consumer-to-consumer (C2C) retail by providing a platform for small businesses and individual entrepreneurs to open online stores that mainly cater to consumers in Chinese-speaking regions (Mainland China, Hong Kong, Macau and Taiwan) and also overseas.

Taobao is a Chinese online shopping website similar to eBay, Amazon and Rakuten, operated in Hangzhou, Zhejiang by Alibaba Group. The Economist calls it "the country's biggest online marketplace".

Reports revealed that the jets were originally from a company known as Jade Cargo global.

A court had tried unsuccessfully to sell the aircraft for years, during which time they were kept in storage in Shanghai and Shenzhen.

After bidding started at 135,038,600 yuan two months ago, one of the jets sold for 162,038,600 yuan, while the other jet sold for 160,780,800 yuan after staring at 133,780,800 yuan.