A buyer in China purchased a 68-square-metre T2 apartment for only 11 yuan, equivalent to about 1.5 euros, in an online auction of Alibaba. The property, located in the province of Heilongjiang, was closed during a promotional campaign.
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12/11/2026
by
News to Minutes
Um buyer is talking in China after having purchased a 68 square meter T2 apartment for the modest amount of... 11 yuan (about 1.5 euros), during the largest shopping festival in the country.
The apartment is located on the seventh floor of a residential building in Heilongjiang province, and was sold through the Alibaba Auction platform.
The auction started with an initial price of a yuan, with bids rising in increments of 0.01 yuan and a maximum limit set at 11 yuan. In total, according to the South China Morning Post, a total of 1,677 people participated in the auction and presented 1,001 proposals before closing on October 5.
The winner, an anonymous buyer from the Jiangsu-Zhejiang region in eastern China, secured the apartment because it was the first to submit a bid for the maximum amount allowed: 11 yuan.
During a live broadcast of the auction, the happy contemplated said that he has no intention of moving to Heilongjiang and that he will use the apartment only as a second dwelling to spend vacation.
Despite the symbolic value of 1.5 yuan, the buyer will have to pay about two thousand yuan (270 euros) in taxes to complete the purchase of the property. Still, he got a good deal, since, according to local real estate, the average resale price in the same residential complex is around 2,700 yuan (366 euros) per square meter.
Known as “Singles Day” and Chinese equivalent to Black Friday, the shopping festival was created in 2009 by the Chinese platform Taobao and this year lasts a month.
According to an auction agency officer, the transaction was part of an Alibaba Auction Double 11 promotional campaign, with the platform supporting the price difference.