Need A Jumbo Jet? China's E-bay Can Help You With That...

In a first for not just China, but the entire world, Alibaba's online auction website, Taobao, has successfully auctioned off two Boeing 747-400 jumbo jets for a combined $49 million.  The jets were bought by Chinese cargo airline SF Airlines after they were seized by courts during Jade Cargo's bankruptcy proceedings in 2013.  According to the South China Morning Post, the successful online auction was conducted after six failed private auctions.

Two Boeing 747-400 Freighters were sold on Tuesday on Taobao, the online shopping platform owned by Alibaba, for a combined 322.8 million yuan (US$49 million), reflecting the first time such jets were sold via online auction in China, and possibly the first-ever globally at online auction.

 

The sale was concluded after six failed attempts at offline private auctions organised by the seller – a state court – in the past few years.

 

SF Express, China’s largest private courier, bought the jets from the Intermediate People’s Court in the southern city of Shenzhen, which seized them after Jade Cargo International filed for bankruptcy in 2013.

 

Three Boeing 747-400s had been put up for sale on Taobao’s judicial auction arm from Monday to Tuesday. One of the jets parked at the Shenzhen Bao’an International Airport went unsold, with a starting bid of 122.6 million yuan.

According to rules on Taobao’s auction site, bidders were required to make security deposits of 6.1 million yuan, 6.7 million yuan, and 6.8 million yuan for the respective jets before the auction.  The winning bidder now has 15 days to send payment in full according to Taobao auction rules.

Last year, Concord Aerospace, a Florida-based aerospace company, tried to sell a Boeing 747 jumbo jet on eBay, with a starting bid of US$300,000. The aircraft’s four jet engines had been removed and its electrical components had been stripped...needless to say, the plane didn’t sell.

And, for our next item, this entire Chinese Ghost City, complete with dueling horse statues, can be yours for an opening bid of just $10...any takers?

Ghost City

Comments

MaxThrust Wed, 11/22/2017 - 21:59 Permalink

I am amazed. I flew that plane. Worked for Jade cargo for a year before switching to Shenzhen Airlines.Sad demise of an airline that could have been much better than it was.

yarpos just the tip Thu, 11/23/2017 - 01:14 Permalink

If other countries have cheap rates (or govt subsidised rates) then all they have to do is get it out of the country.   Each countries PO bears the cost of distributing inbound inetrnational mail.  Probably a significant factor is rising mail costs in US and other places ,  one way China exports costs as well as product.

In reply to by just the tip

MaxThrust DownWithYogaPants Wed, 11/22/2017 - 23:39 Permalink

Flights only to Europe when I was there. Plans where in place to go to the US but it never happened. We hauled all sorts of stuff. One of the more surprising (regular) cargos was high quality cloth which was delivered to Italy for Italian suit tailoring.Even though the company was run by German management they  were never able to get regular cargos back out of Europe and espesially surpring out of Frankfurt.

In reply to by DownWithYogaPants

DavidFL Thu, 11/23/2017 - 00:03 Permalink

The only problem is the price was very much higher than market. 25 to 30 million for both would have been more like the number (give or take 8 million for run out engines).

JuliaS 83_vf_1100_c Thu, 11/23/2017 - 03:14 Permalink

Rather customs will be pissed when actual planes arrive at a foreign destination, declared as toy gifts priced at $0.01 each.I remember ordering a large batch of LCD panels from Shenzhen, all got delivered on time, everything proper except customs declaration listing them as "decorative glass" and priced at a penny each. Sure they have a glass component, but that hardly illustrates the nature of the item. They'll lie even when you don't asked them to and when customs get involved, you get in trouble - not the seller, who's outside of US legal jurisdiction.

In reply to by 83_vf_1100_c