Two Boeing 747s sold via Alibaba's Taobao online shopping site

1st Ld-Writethru: Boeing 747s finally find buyers on Taobao

Taobao is an online e-commerce platform that's owned and operated by Alibaba Group, one of the biggest players in the e-commerce market.

According to recent reports, two of the jumbo jets which are specifically the Boeing 747 freighter planes; the planes were won by the Chinese carrier SF Airlines, which outbid 25 more other parties and companies.

The buyer of the two jets was the Chinese cargo carrier SF Airlines.

But it is the first time such a large plane has been sold on an e-commerce platform in China.

The name of e-commerce platform Taobao can be literally translated as "digging for treasure".

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Taobao's court auction platform was launched in 2012, in order to sell property, industrial equipment and vehicles.

The posh auction gathered almost 800,000 viewers, Xinhua News Agency reported, adding that the deals were reached after 26 bids. There was even a third jet up for auction but it failed to sell.

The jets were originally owned by Jade Cargo International and were auctioned off on Taobao after the firm went bankrupt.

It is the first time such aircraft have sold via an online auction in China, with the event gathering over 800,000 viewers. The Intermediate People's Court of Shenzhen City had attempted six previous offline auctions, BBC reported, before putting the planes up on Taobao. It even auctions bad loans from Chinese companies.

The court found success online, though.

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