Dealer mistakenly sells BMW for $1

A quick buyer snapped up a 1994 blue BMW 320i that was listed for $1 on New Zealand’s popular Trade Me site - the Kiwi version of eBay.

The car had been accidentally listed on Wednesday as ‘buy now’ with a $1 reserve by Christchurch dealership Stadium Cars, according to a report on TVNZ.

The $1 reserve was standard procedure, the dealership said. The ‘buy now’ option was a slip-up - but one the dealer was prepared to grin and bear.

Stadium Cars manager Mike Nokes told TVNZ the car -- worth about $3000 – was bought by a bidder named ‘bignz’ who picked the car up that afternoon.

"I thought, 'Whoops', but it is what it is. You can only laugh about it," he told the news station, adding it was the cheapest car ever sold by the dealership "'and hopefully the only car we sell for $1".

"Obviously not an ideal outcome for us as the seller," Nokes said. "However, we are firm believers in the auction process and for it to be fair to buyers and sellers alike."