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November 8, 2010

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Expo pavilions plan to auction off assets

ABOUT 10 national and corporate pavilions from World Expo 2010 are planning to auction assets in Shanghai.

Shanghai Corporate Pavilion authorized Shanghai Auction Co Ltd to put its assets, including some exhibits and office and audiovisual equipment, up for auction in mid-December, said a company official who declined to be identified.

The company will evaluate the assets today to decide on list prices, he said.

However, Shanghai Corporate Pavilion's press officer said they had yet to make a final decision on the auction.

According to the auction company, they were negotiating with many other pavilions to auction off assets, including the Romania, Nepal and Czech pavilions.

Urban Best Practices Area pavilions from Hong Kong and Beijing were also considering auctioning assets.

"These pavilions seem in a hurry to auction assets because they have to dismantle the structures according to a schedule made by the Expo organizer," the auction company official said.

Dismantling work was scheduled to be completed by April 30, 2011.

Most of the assets were office and audiovisual equipment that the official said was most suitable for businesses. But individuals can also take part in the auction, he added.

The Hunan Pavilion and its assets were auctioned for a total of 43.32 million yuan (US$6.51 million) on October 30, the first Expo pavilion to go under the hammer.


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