Alibaba’s Taobao Sells Two Boeing 747s In Auction

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Alibaba’s Taobao Sells Two Boeing 747s In Auction
By Charliepug (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Alibaba’s Taobao has just proven why it is China’s biggest e-commerce platform. The platform sells almost everything, even jumbo jets. On Tuesday, in an auction on Taobao, the Chinese air express carrier SF Airlines bought two Boeing 747-400 freighters.

Three jets on auction, but one has yet to sell

Alibaba’s Taobao, which is flocked by shoppers mainly for the usual groceries, clothes and other items, auctioned the carriers for over 320 million yuan (US$48 million), according to the report from the Xinhua news agency. A third plane could not be auctioned because there was only one buyer registered for the bid. The Boeing 747s were put up for auction on Monday morning, and their starting prices were set from 123 million yuan to 135 million yuan.

SF Airlines, a Chinese delivery company, purchased both the planes beating 25 other interested parties. The delivery company needs to make the full payment within 15 days of purchase. Jade Cargo International owned all three freight planes, which were later seized by the Shenzhen court after the company filed for bankruptcy. Prior to Taobao, the aircrafts were offered on several offline auctions, but could not find any takers. Finally in September, the court decided to try Taobao’s auction platform.

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