Chinese skyscraper to be auctioned online | 2017-12-27 |

Chinese skyscraper to be auctioned online

Sun Online Desk     27th December, 2017 01:41:15 printer

Chinese skyscraper to be auctioned online


A 156m (511ft) skyscraper in northern Shanxi province has been listed on Taobao, China's largest e-commerce website, by a local court.


The 76,000 sq m repossessed building is due to go on the block on 2 January, with a sky high asking price of 553m yuan ($84m; £62m).


The site said online auctions helped with transparency in property sales.


Construction on the building first began in 2006 and was due to be completed by 2011, according to Chinese state media outlet Xinhua.


However, the developer ran into funding troubles. The building was eventually seized by the Shanxi Provincial Higher People's Court.


Earlier this year, two Boeing 747 planes were successfully auctioned on the site, going for just over 320m yuan.


A 28-storey high building was also put up for auction earlier this November for 219m yuan, though it didn't sell, reports BBC.