SOLD FOR A FENNY

Wanganui Chronicle, Volume 83, Issue 115, 18 May 1939, Page 8

SOLD FOR A FENNY

PROPERTY WORTH £5OOO AUCTION SALE BARGAIN LONDON, April 22. A man walked into a public auction room in Glasgow this week, made a bid of Id and had knocked down to him within a minute a bloci< of shops with a rent roll of £S2U a year and estimated to be worth more than £5OOO. The owner, Mr. A. E. Pickard, wealthy property and cinema owner, with a sense ol humour, had, in advertising the sale, marked the reserve price at Id. A s he has an auctioneer’s certificate he conducted the sale himself. He ' gave the brightest of descriptions and j called "What am 1 bid? ’ I "One penny,” was the immediate j response. Mr. Pickard looked round the small company, mostly onlookers from the street. "Going for one penny,” he called. No one moved. “Going. Gone!” He picked up his papers and walked away. Afterwards he laughed. "No, there is no fake about the sale. I have owned tlje property for 20 years and some time ago put it for sale at a reserve price of £lO,OOO. There was no bid. This time I decided to let it. go for what it would bring. ’ Other property bargains in Glasgow and district in the last few years were a mansion which was sold *at Paisley for Is and a mansion at Pollockshields,; Glasgow’, which cost £4OOO to build] and was sold for £lOO.