A BMW for $1. Sounds too good to be true, but for one Trade Me buyer it was obviously his lucky day.

The 1994 blue BMW 320i was listed yesterday morning with a $1 reserve by Christchurch car dealership Stadium Cars.

Before lunchtime, it had been snapped up by a bidder using the name ''bignz'', whose profile says he is from Rangiora.

He clicked on ''buy now'' and within seconds was the proud new owner of a tidy, second-hand European car.

Stadium Cars manager Mike Nokes said the $1 buy now was an error.

Each week the dealership put up cars for auction on the site with $1 reserve. However, the buy now option was mistakenly added to the latest one.

"I thought, 'Whoops', but it is what it is."

"You can only laugh about it."

It was the cheapest car  ever sold by the dealership ''and hopefully the only car we sell for $1''.

The winning bidder picked up the vehicle yesterday afternoon.

''Obviously not an ideal outcome for us as the seller,'' Mr Nokes said.

''However, we are firm believers in the auction process and for it to be fair to buyers and sellers alike.''

The car probably would have sold for $3000 if the auction had run as planned.

- © Fairfax NZ News