- Aug 13, 2012
New Zealand dealership honors $1 Buy-it-Now price
You've probably heard of more than a few eBay or Craigslist specials that sound too good to be true; "Buy it for just $1- today only!" More often than not, its a ruse, luring you in for a far less inciting, yet more realistic transaction. If you are Stadium Cars, you wish it were the latter, but a mistake on its part led to a BMW being sold for just $1. An employee at Stadium Cars in New Zealand listed a 1994 320i online for auction. The reserve, and thus the "Buy it Now" price? Just $1. At that price, it was scooped up in seconds.
Stadium Cars manager Mike Nokes said that while a car is listed with a $1 reserve every week, the "Buy it Now" option was accidentally activated. Thus, a user by the name of "bignz" was able to purchase the 1994 BMW 320i that otherwise would likely have sold in the $3,000 range. Sure, it's not nearly a brand-new car, but who'd turn down that deal?
Unsurprisingly, it was the cheapest sale of a car in the history of the dealership. At the point, one may surmise that the dealer would embark on legal action to get out of the sale, but according to Nokes, "We are firm believers in the auction process and for it to be fair to buyers and sellers alike." In this case, it seems that the buyer made out with a once-in-a-lifetime opportunity.