The clay Fou musical instruments played in the Opening Ceremony of the Games, the special bed built for Yao Ming, and Liu Xiang's domestic appliances will all be auctioned in Beijing as Olympic property. The public will be able to bid for lots, and the total value of goods is estimated at 1 billion yuan(US$146 million).

After signing the Beijing Olympic Committee Property Disposal Service Contract with Beijing Olympic Committee, China Beijing Equity Exchange (CBEX) became the appointed agent to deal with Olympic property. It will take dispose of all the materials that were used in the Opening and Closing Ceremonies, including furniture, home appliances, equipment, and sports goods, including 2,008 Fous, 2,008 umbrellas with smiling faces, bamboo slips, etc. The total value of all the auctioned Olympic property is estimated at 1 billion yuan (US$146 million). The first lots are now being prepared for auction in CBEX.

The property will be divided into different lots to be auctioned off at dates yet to be confirmed. The entire auction will take place over 1 to 2 years, according to Xiong Yan, President of CBEX. A detailed schedule can be found on their website: www.cbex.com.cn. Detailed information and photos of the first lots to be auctioned are already available on the website.

Most of the property will be disposed of in job lots containing similar items, but CBEX will also hold individual auctions for items of special value such as Yao Ming's bed and Liu Xiang's domestic appliances, as well as the umbrellas with smiling faces, etc.

Reserve prices will be determined based on an evaluation by a professional company. The Olympic Committee has selected several companies to host the auctions. Citizens can lodge bids after registration and making a deposit.

(China.org.cn by Hou Xiaoying August 27, 2008)