Credit Crunch Hits eBay

 - Oct 1, 2008
References: thespec
This has got to be one on the best eBay purchases of all time. With a winning bid of just $1.75, a Chicago woman won an auction for an abandoned home in Saginaw, Michigan.

Joanne Smith's bid was one of eight for the home, and it was quite a savvy move. Instead of moving to Saginaw herself, she bought it with the intention of reselling the property. She has never seen her new house, nor does she have any intentions to.

A foreclosure hearing notice is currently pinned on the property. The only additional costs the new owner must pay is $850 in back taxes and yard cleanup costs.