Taobao-auctioned Boeing 747 freight planes delivered in China

SHENZHEN - Two Boeing 747 freighters successfully auctioned on Taobao's judicial sales platform last month were handed over to its buyer Tuesday.

A hand-over ceremony was conducted at the Shenzhen Intermediate People's Court Tuesday.

Altogether three Boeing 747 planes went up for auction on Nov 21. SF Airlines purchased two of the aircraft, registered with the identification numbers B2422 and B2423, for more than 320 million yuan ($48 million). The third plane failed to find a buyer.

According to Yue Yanni with the Shenzhen court, this is the first time aircraft have been offered in a Taobao judicial auction in China.

The freight planes were previously owned by Jade Cargo International, the first Chinese cargo carrier with foreign investment. The company folded in 2013.

The three aircraft had been put up for auction offline six times since October 2015, but they failed to find buyers.

Online judicial sales have gained popularity in China. More than 103 Chinese courts have put up items for auction on Taobao this year, with over 600 deals totaling 6 billion yuan, said Chen Huiming, vice-general manager of Alibaba's auction business.

Chen said the third Boeing 747 plane would be put up for auction again in late December.