NBR prize BMW auction raises $75k for Christchurch

NBR's Todd Scott, NZICA's Karen Venni and BMW's Greg Hedgepeth

A new BMW auctioned by the New Zealand Institute of Chartered Accountants (NZICA) has raised $75,000 for the Christchurch earthquake recovery.

NZICA auctioned the BMW on March 10 after winning the car in NBR's subscriber competition the previous month. Bids on the TradeMe website went from $1 to $35,000 in just 31 minutes.

Bay of Islands couple Bruce and Diana Munro saw off more than 200 other bids to secure the 3 Series BMW 320d sedan.

The never-driven BMW has a recommended retail price of $89,000.

“In the last hour people were just nudging the bids up by $100 at a time. I thought, come on you blokes, it’s for a good cause, so I pushed it up a couple of thousand dollars and that did the trick,” Mr Munro said.

NZICA Chief Executive Terry McLaughlin said it was great the BMW had attracted such a good price.

“Being accountants, we had a few nervous moments putting the car up for auction with a $1 reserve, but it has certainly paid off.”

The auction was viewed more than 30,900 times before closing at noon on Tuesday 22 March.

This article is tagged with the following keywords. Find out more about My Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7414 -0.0038 -0.51%
AUD 0.9413 -0.0006 -0.06%
EUR 0.6642 -0.0021 -0.32%
GBP 0.4943 -0.0019 -0.38%
HKD 5.7475 -0.0332 -0.57%
JPY 86.9960 -0.7650 -0.87%

Commods

Commodity Price Change Time
Gold Index 1292.6 -7.090 2015-01-23T00:
Oil Brent 49.9 0.320 2015-01-23T00:
Oil Nymex 45.6 -0.820 2015-01-23T00:
Silver Index 18.3 -0.060 2015-01-23T00:

Indices

Symbol Open High Last %
NZX 50 5647.1 5713.3 5711.9 -0.64%
NASDAQ 4748.2 4771.2 4750.4 0.16%
DAX 10503.3 10704.3 10435.6 2.05%
DJI 17812.5 17812.5 17814.0 -0.79%
FTSE 6796.6 6841.7 6796.6 0.53%
HKSE 24807.4 24896.2 24522.6 1.34%
NI225 17520.6 17532.1 17329.0 1.05%