With sale of jumbo jets

The two jumbo jets belonged to a now bankrupt cargo company known as Jade Cargo International.

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

Popular Chinese online shopping site Taobao has some odd items on sale such as portable flame throwers, but now they can add airbuses to the list as two Boeing 747s were auctioned off for 322 million yuan (more than $48 million) to a courier company.

Furthermore, the highest bidder and new proud owner is Chinese carrier SF Airlines, defeating out 25 other interested parties. The seller was cited to be the Intermediate People's Court of Shenzhen City, although their third plane that was also up for sale remains. It's not clear if more attempts will be made to sell it off.

Taobao, the shopping platform of e-commerce giant Alibaba, is immensely popular in China and estimated to hold more than 90 percent of the consumer-to-consumer market.

Taobao is a Chinese online shopping website similar to eBay, Amazon and Rakuten, operated in Hangzhou, Zhejiang by Alibaba Group.

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

Initially, the jets were offered for sale offline, but after six offline auctions failed, the company chose to sell it online.

According to the Russia Today report the court auctioned off three jets with one remaining unsold on a starting bid of $18 million.

With around 760 million product listings as of March 2013, Taobao Marketplace is one of the world's top 20 most visited websites according to Alexa. In 2006, eBay recorded the highest ever sale.

Vanessa Coleman

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