Two Boeing 747s auctioned online sell for over 322m Yuan

Two Boeing 747s have been sold for a total of 322.8 million Yuan (48.6 million USD) on Alibaba's online auction platform. A third 747 up for sale failed to sell.

The B-2422 Boeing 747 aircraft was sold at 160,780,800 Yuan on Alibaba's online auction platform. [Photo: China Plus]

The three aircraft had been owned by Shenzhen-based Jade Cargo. The company applied for bankruptcy liquidation in 2013. Six previous attempts to sell the planes at traditional auctions had failed to produce results.

With the help of Shenzhen Intermediate People's Court, the three planes were put up for judicial sale with a combined starting price of 390 million Yuan (58 million USD). It is the first time a Boeing aircraft has been auctioned in this fashion.

The auction started on November 20 and ended the next day. Competition for the two 747s was described as 'fierce.' The final transaction prices of the two Boeings are 160 million Yuan and 162 million Yuan respectively. It's not clear if or when another attempt to sell the third plane will be made.

Manufactured in 2007 and 2008, the three aircraft have flown more than 14,300 hours. The life span of each plane is around 60,000 hours.

The B-2423 Boeing 747 aircraft was sold at 162,038,600 Yuan on Alibaba's online auction platform. [Photo: China Plus]