NBR prize BMW auction raises $75k for Christchurch

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.