Boeing 747s up for auction in China

A Monitor Desk Report 23 Sep, 2017  |    -      +
SHENZHEN : Three Boeing 747s have landed on the auction arm of Taobao, China's leading eBay-like service.

The planes have been in storage in the cities of Shanghai and Shenzhen since 2013, after their owner, Jade Cargo International, filed for bankruptcy in September that year.

They were seized by a court in the southern city of Shenzhen, but had never found buyers despite being offered previously in six offline auctions.

According to the Yangcheng Evening Post, this is the first time that the courts have offered a Boeing aircraft to the public for online auction.

Those who intend to purchase, need deep pockets to afford one of these jets - opening bids for the planes range from 122 to 135 million yuan ($18.5-20.4m; £13.7m-15.1m).

Taobao directed potential buyers to make a security deposit for the planes before October 20, and bids formally close on November 20.

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