2014-08-14

After Failing to Sell at Court Auction, House To Be Auctioned For 66% of Value on Taobao; What Else Can You But at Taobao Court Auctions?

Looks like Alibaba could rake in some dough if China sees a major foreclosure wave. A boss in Suzhou couldn't pay his mortgage and the court auction failed after two rounds. Now the Suzhou villa will be auctioned later this month on Taobao, for 66% of its appraised value.
苏州一老板无力还贷 千万别墅遭六六折拍卖

471 sqm villa
Appraised value: ¥14,860,000
First round starting price: ¥15,300,000
First round bids: 0
Participants: 2800

Second round starting price: ¥12,250,000
Second round bids: 0
Participants: 1600

Third round starting price: ¥9,800,000
Location: 司法淘宝 Taobao Court Auctions

There are sites for every province in China, but Wenzhuo (3800+ properties), Hangzhou (2800+ properties), Ningbo (2400+ properties), along with Suzhou (1700+ properties) appear to be the most active pages.


Here's the Zhejiang site if you want to buy some Chinese foreclosures.

How about this car dealership in Ningbo for ¥29 million, 35% off appraised value?

Here's Wenzhou's page.

Lots of empty apartments being auctioned in Hangzhou. Maybe a developer went bust, or a big investor, since many of the apartments on the first page appear to be in the same building.

How about trademarks? They're up for auction too.

How about a giant pile of coal (550 tons) in Suzhou for ¥292,000?

Or do you want to buy your shirts by the ton?

Some land in Sha county, Fujian.

Factory Equipment

This ¥6 million villa in Chun An county, Zhejiang looks nice.

How about 1,745,612 shares in the Xiamen Rural Credit Union?

How about your own Home Inn in Shanghai?

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