The company is in arrears of nearly one million yuan, and the court has seized its mahogany furniture.
According to a recent legal case, Dr. Guan Wei explained that the red rosewood furniture and the arowana fish photographed by the court a few months ago belonged to Jiangsu Yinning Guarantee Company. This was reported by Modern Express on June 23 (Page A9). Due to poor management, the company failed to pay salaries to 39 employees, accumulating nearly one million yuan in arrears. Although they sold an arowana for 70,000 yuan, it was not enough to cover the debts, so the court decided to auction off all the red rosewood furniture owned by the company.
"Taobao judicial auctions can really sell anything!" It's no longer surprising to see real estate or vehicles being auctioned through Taobao's judicial platform. In the past, Modern Express also covered cases like the Yixing court auctioning two "brothers" (pigs), and the Kunshan court selling a "White Dragon Horse" (horse). Recently, the Suzhou Industrial Park Court listed 33 pieces of red rosewood furniture for auction. The announcement quickly attracted over 14,000 viewers, showing strong public interest.
Red rosewood is considered as valuable as huanghuali and red sandalwood, collectively known as the "Three Imperial Woods," and has been highly prized since the Ming and Qing dynasties. Red rosewood furniture is among the most sought-after types of antique mahogany pieces. As noted in the "Antiquities Guide," "the best wood, besides red sandalwood, is red rosewood." Its rarity and historical significance make it a prized item among collectors.
Judge Wei mentioned that this was the second time the red rosewood furniture was put up for auction. During the first auction, all 33 pieces were sold together for a total of 1.478 million yuan, but no one bid due to the high volume. After receiving multiple calls from bidders suggesting individual sales, the court decided to break down the auction into separate items, including desk and chair sets, flower stands, Duobao Pavilion, screens, shelves, double-door bookcases, 13 sets of Ruyi sofas, squat cases, folding screens, and two cabinets. Each piece will now be auctioned separately to attract more buyers.
This approach not only increases the chances of successful sales but also allows collectors and enthusiasts to purchase specific items they are interested in, making the process more accessible and engaging for the public.
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