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Two Boeing 747 Jumbo Jets Auctioned in Taobao

23 November, 2017, 00:41 | Author: Priscilla Morrison
  • Two Boeing 747 Jumbo Jets Auctioned in Taobao

Alibaba's online e-commerce platform which is globally known as Taobao has been constantly giving more choices and expanding the online selling platform for its customers.

The name of e-commerce platform Taobao can be literally translated as "digging for treasure".

Two Boeing 747s have been sold on Chinese website Taobao, which is the country's equivalent of eBay.

After beating out at least 25 bidders, SF Airlines - a subsidiary of SF Express - became the new owner of the two jets that had been stored in Shanghai Pudong International Airport since 2013.

Some of the biggest e-commerce platforms in the world are based in China.

It bid over 320 million yuan or $48 million for the two planes.

This was the first time jets have been sold via online judicial auction in China, according to the court.

Intially three planes had been put up for sale by the Shenzhen Intermediate People's Court, but the third plane's auction fell through after receiving just one bid.

The court found success online, though. The company started with the common offerings of most online shops today, with groceries, clothes, toys, and even consumer electronics; this time, the company dropped a massive leap forward with the Boeing auction.

Both aircraft were kept in storage after the authorities seized them following their previous owner, Jade Cargo International, filing for bankruptcy in September 2013.



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