Lu Min, a lawyer in Jiangsu, said the deposit for this auction is only 20 yuan, which is affordable, which may be the reason why so many people still bid when the price was already much higher than normal. The buyer will also not be allowed to join the bidding for the same item when it is put on sale again. However, the man surnamed Che who bid last refused to pay for the phone, saying he mistook the price.Ĭhe's words have been doubted by both judges and netizens as he bid twice, and the real-time prices as well as the bidding records were clearly shown, said a judge.Īccording to Provisions of the Supreme People's Court on Several Issues concerning Online Judicial Sale by People's Courts which took effect on January 1 of this year, if a buyer refuses to pay, the deposit he or she paid will not be returned.
Two courts involved in the auction in Nanjing, Jiangsu Province, replied that all the information in the phone will be cleared before it being delivered to the new owner, adding that no violation of law has been found in the auction so far. Some have guessed that a few bidders tried to raise the price on purpose, while others think that it is because someone wants to get the information contained within the phone. Speculation has emerged online due to such extraordinary prices. The model is priced at 6,188 yuan on the official website of Apple.Īnother iPhone 6, which was on sale together with the iPhone 7, was sold at 6,500 yuan (just over 1,000 US dollars). The phone was eventually sold for 270,550 yuan (about 41,740 US dollars). Over 2,700 people registered to join the auction, and a total of 310,000 people watched the bidding process.
However, the auction lasted over two and half hours longer than planned, as an auto extension was triggered 377 times after the scheduled end time to keep the auction open until nobody bid within 5 minutes. on Thursday.īidders can add 50 yuan for each bid, but the price rose dramatically to over 10,000 yuan only 11 minutes after the auction started, and surged to 90,000 yuan after 24 hours when the auction was scheduled to end. The 128G iPhone 7 was evaluated at 140 yuan, and was put on sale with a starting price of 100 yuan (about 15 US dollars) at 10a.m.
The phone is part of items involved in a civil dispute, where the creditors asked the court to sell the debtor's assets at auction after failing to get back their money, which is 15.1 million yuan (around 2 million US dollars). A second-hand iPhone 7 has been sold at auction for over 41,000 US dollars in a judicial sale, reports China National Radio.Ī screenshot of the auction shows the iPhone 7 was sold at 270,550 yuan (about 41,740 US dollars).
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