Taobao to launch aircraft auction

Aircraft will be on offer to bidders on Thursday on Taobao.com. Three helicopters and two light sports aircraft will be available from 10am sharp.

The bidding is expected to range from 1.05 million yuan ($170,000) to 16.8 million yuan ($2.72 million) but one Australia-made aircraft will see bidding start at 1 yuan.

Anybody can take part in the bidding after paying a security ranging from 2,000 yuan to 50,000 yuan according to Taobao.com. The auction will last four days and end at 10 am on Monday.