Bank Clerk Gets BMW for US$5
Online shopping mall Lotte.com said Tuesday a bank employee identified as Yang won the bidding for a BMW car worth W44 million (US$44,000) by offering just W5,393. Yang was the sole bidder offering the lowest price in an upside-down auction marking the company’s ninth anniversary. Participants were asked to start the bidding at less than W4.39 million, a tenth of the normal price, and specify their price down to the last won, with the car going to the sole lowest bidder. Thus if two bidders offered W15 and one W16, the car would go for W16, but if two offered W3 and one W2, it would go for W2. Some 1 million people participated in the event.
Yang declared himself delighted because he had driven his old car for 10 years after he bought it second-hand. Other items up for auction included Samsung Electronics’ PAVV 42-inch PDP TV, which went for W1,043, a travel voucher to Bali at W272 and 10-karat gold at W633.
Online shopping mall Lotte.com said Tuesday a bank employee identified as Yang won the bidding for a BMW car worth W44 million (US$44,000) by offering just W5,393. Yang was the sole bidder offering the lowest price in an upside-down auction marking the company’s ninth anniversary. Participants were asked to start the bidding at less than W4.39 million, a tenth of the normal price, and specify their price down to the last won, with the car going to the sole lowest bidder. Thus if two bidders offered W15 and one W16, the car would go for W16, but if two offered W3 and one W2, it would go for W2. Some 1 million people participated in the event.
Yang declared himself delighted because he had driven his old car for 10 years after he bought it second-hand. Other items up for auction included Samsung Electronics’ PAVV 42-inch PDP TV, which went for W1,043, a travel voucher to Bali at W272 and 10-karat gold at W633.
![[:p]](/images/smilies/tongue.png "Stick Out Tongue [:p]")