Go Back  British Expats > Living & Moving Abroad > Middle East > The Sand Pit
Reload this Page >

4 Bed Villa in Dubai for 30 quid - no joke !

4 Bed Villa in Dubai for 30 quid - no joke !

Old Jul 29th 2009, 6:32 pm
  #1  
Forum Regular
Thread Starter
 
Joined: Jan 2008
Posts: 197
Foxes is just really niceFoxes is just really niceFoxes is just really niceFoxes is just really niceFoxes is just really niceFoxes is just really niceFoxes is just really niceFoxes is just really niceFoxes is just really nice
Default 4 Bed Villa in Dubai for 30 quid - no joke !

quite clever actually......

http://www.thenational.ae/apps/pbcs....707299934/1005

A four-bedroom apartment in The Green Community in Dubai could be snapped up for as little as US$50 (Dh183) if sold successfully through an online auction.
But the Halligans need to attract 10,000 bidders before this can happen. Bids can range between Dh6 and Dh151,000.

Unlike a traditional auction, the home will be won by the person who bids the lowest, not the highest, with the catch being they have to choose a figure that has not been chosen by anyone else.
Foxes is offline  
Old Jul 29th 2009, 7:21 pm
  #2  
Lost in BE Cyberspace
 
Joined: Jul 2007
Posts: 13,553
The Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond reputeThe Dean has a reputation beyond repute
Default Re: 4 Bed Villa in Dubai for 30 quid - no joke !

Originally Posted by Foxes View Post
LUB Auctions, they're called - the inner is the one with the LUB ("Lowest Unique Bid")............. mate of mine won a meal for two at Claridges or some such place with a bid of GBP 4.17 a while back.
The Dean is offline  
Old Jul 30th 2009, 5:51 am
  #3  
Concierge
 
Blue Cat's Avatar
 
Joined: Feb 2007
Posts: 29,625
Blue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond repute
Default Re: 4 Bed Villa in Dubai for 30 quid - no joke !

Originally Posted by Foxes View Post
I posted about this a couple of weeks ago, I am already registered for this auction! someone has to win it's an apartment up for grabs not a villa
Blue Cat is offline  
Old Jul 30th 2009, 9:14 am
  #4  
BE Enthusiast
 
Robbies's Avatar
 
Joined: May 2007
Location: UK... for now...
Posts: 355
Robbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really nice
Default Re: 4 Bed Villa in Dubai for 30 quid - no joke !

Good spot - I like it! This is definitely a site to keep an eye on

So you buy a 30 quid 'seat' then have 100 chances to have the lowest bid (if the auction ever goes ahead)?? If you won it, the most you pay is 30 quid, even if you have the lowest bid at something like 250k?
Robbies is offline  
Old Jul 30th 2009, 9:17 am
  #5  
BE Enthusiast
 
Euc-'s Avatar
 
Joined: May 2009
Posts: 857
Euc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond reputeEuc- has a reputation beyond repute
Default Re: 4 Bed Villa in Dubai for 30 quid - no joke !

Originally Posted by Robbies View Post
Good spot - I like it! This is definitely a site to keep an eye on

So you buy a 30 quid 'seat' then have 100 chances to have the lowest bid (if the auction ever goes ahead)?? If you won it, the most you pay is 30 quid, even if you have the lowest bid at something like 250k?
No, you need to pay the 30quid (but I guess if the auction doesn't move forward in the end you'll get it back), and then you start bidding. So if you win with the lowest unique bid of €0,07, you'll have to pay that amount. But if you win with the lowest unique bid of €100.000,= you need to pay that
Euc- is offline  
Old Jul 30th 2009, 10:48 am
  #6  
BE Enthusiast
 
Robbies's Avatar
 
Joined: May 2007
Location: UK... for now...
Posts: 355
Robbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really niceRobbies is just really nice
Default Re: 4 Bed Villa in Dubai for 30 quid - no joke !

Originally Posted by Euc- View Post
No, you need to pay the 30quid (but I guess if the auction doesn't move forward in the end you'll get it back), and then you start bidding. So if you win with the lowest unique bid of €0,07, you'll have to pay that amount. But if you win with the lowest unique bid of €100.000,= you need to pay that
You sure? Its got me confused

From the National article...

Each bidder has 100 chances to make the lowest unique bid but regardless of the price the winner chooses, the cost of the seat is all they pay.

“The bid price just determines who wins … you get it for the price you paid for the seat,” Mr Halligan said.
Robbies is offline  
Old Jul 30th 2009, 11:46 am
  #7  
Concierge
 
Blue Cat's Avatar
 
Joined: Feb 2007
Posts: 29,625
Blue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond repute
Default Re: 4 Bed Villa in Dubai for 30 quid - no joke !

Originally Posted by Robbies View Post
You sure? Its got me confused

From the National article...

Each bidder has 100 chances to make the lowest unique bid but regardless of the price the winner chooses, the cost of the seat is all they pay.

“The bid price just determines who wins … you get it for the price you paid for the seat,” Mr Halligan said.
you only pay for the seat, that is how I understood it, and the money isn't taken from your card until the auction goes live. I think it is brilliant!
Blue Cat is offline  
Old Jul 30th 2009, 2:58 pm
  #8  
BE Enthusiast
 
lanarkwitch's Avatar
 
Joined: Feb 2009
Location: Cairo :-(
Posts: 376
lanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to alllanarkwitch is a name known to all
Default Re: 4 Bed Villa in Dubai for 30 quid - no joke !

If memory serves me there were some houses sold in europe in the same fashion, also there were people doing it by raffle ticket I'm sure i heard, you know 100 quid for a ticket, 100 tickets type of thing
lanarkwitch is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.