No, that is not an error. We didn’t mean $1.75m. We really do mean $1.75, as in about 90p at today’s rapidly-plummeting exchange rate. Less eBay fees and PayPal commission, of course, but they won’t be that crippling considering the buyer’s getting an entire house.
The woman in question is mature student Joanne Smith. She was browsing eBay for “PlayStations,” when she noticed an alert for a house on sale with no starting price. So she placed a bid of $20 – eventually winning the auction for $1.75 and proudly getting on Rung Z of the property ladder.
Her new wooden pre-fab is in Saginaw, Michigan, a part of America particularly badly hit by repossessions thanks to the US housing crash. It has also been condemned. And there’s quite a lot of tax owing on it. And Joanne says she’s never been there and has no intention of living in it – although she might sell it for a profit when the housing crisis dies down a bit.
So, on reflection, she is not really an eBay Nutcase – she could be the next Donald Trump. This could DOUBLE in value over the next five years, leaving her with enough profit to get a coffee.
(Via Chicago Sun Times)