Maybe The Federal Reserve Can Sell Hotels on Ebay?

Alibaba courts more China bad debt managers for online auctions
Huarong Asset Management Co Ltd is poised to become the second Chinese bad loan firm to auction soured loans online amid a push by the government to settle these debts as the economy slows, an executive at e-commerce giant Alibaba Group Holding Ltd said.

...At least 14 financial institutions, including China Merchants Bank Co, China Minsheng Banking Corp and Tianjin Financial Assets Exchange use Taobao to sell cars, real estate, wineries, factories, corporate shareholding, and land, the website shows.

Courts and local authorities are also using the platform to sell assets: this month, the Shaanxi provincial government sold 171 cars confiscated in a nationwide corruption crackdown for just under 9 million yuan. The sale attracted nearly 7,000 bids.

Earlier this month, Taobao also put up for auction a 16-century Italian castle and 103 apartments in Milan as part of a joint-effort between Alibaba and the Italian government.

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