Man has to sell yacht for €22.50 after auction snafu

Note to self: set minimum bid

The German courts have ruled that man who sold his yacht for €22.50 on an online auction site after failing to set a minimum bid must go through with the transaction.

A Cologne court ruled that the man must indeed flog his 6-metre yacht for the fee after deciding that his claims of 'technical problems' with didn't, ahem, float.

Speaking to English language, German news site The Local – court spokesman Hubertus Nolte said: "The standard laws of business transactions also apply to internet auctions.

Make good

"Now the seller must make good on his offer. He can't say after the fact that he didn't want to sell.

"I remember a similar case that involved an tractor that should have been auctioned for a minimum of €60,000, but went for €51 when the owner forgot to set a minimum bid.

"The bidder won the court case in this instance too."

The man in question was told that unless he handed over the boat he would have to pay the €12,000 legal fee.

He probably wishes that he'd noticed his mistake earlier, but that ship – it seems – has sailed.


Global Editor-in-Chief

Patrick (Twitter) is Global Editor-in-Chief for techradar, and has been with the site since its launch in 2008. He is a longstanding judge of the T3 Awards, been quoted or seen on everything from the The Sun to Sky News and is on the #CoolBrands Council. He started his career in football, making him one of approximately one journalists to have covered both a World Cup final and an iPhone launch.