By Drew Johnson
Friday, Aug 10th, 2012 @ 5:16 pm
 
Tales of dealers not honoring erroneous buy-it-now auction prices are a dime-a-dozen these days, which makes Stadium Cars' sale of a $1 1994 BMW 320i rather unique.

Stadium Cars, a car dealership located in New Zealand, typically lists one car per week with a reserve price of $1 - the equivalent of about $0.81 USD - in order to spur interest in the business. However, Stadium Cars got a little more publicity than it bargained for following a major slip-up in the listing process.

When listing a 1994 BMW 320i, Stadium Cars manager Mike Nokes accidentally put the $1 figure in the auction's buy-it-now price rather than in the reserve category. The user "bignz" quickly swooped up the deal, netting a far lower selling price than the $3,000 the dealership was hoping to get for the car.

"I thought, 'Whoops', but it is what it is," Nokes told Australia's Drive. "You can only laugh about it."

Several dealers in Stadium Cars' position have opted not to honor erroneous buy-it-now prices, but the dealership has already delivered the car to its new owner. However, Nokes says the BMW will be the first and "only car we sell for $1."