Ruined house with £0 guide price sells for £50,000 [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
The three-bedroom, burned-out shell in New Tredegar, Caerphilly county, had 15 people bidding on it. Before going under the hammer, it was described as being "in a very sorry state of repair" , but that did not put off potential buyers. Andrew Kidd, a 58-year-old landscaper from Newport, had the winning bid of £50,250 after the bidding closed on Saturday and said : "I would have liked to get it £10,000 cheaper but I thought it was worth £50,000 all day long". Andrew Kidd first saw the property through Paul Fosh Auctions and has not even visited yet. He said he and his wife Victoria chose it as a "doer upper". "We are looking forward to doing it. I said I would go up to £50,000 and my missus said 'oh just put a little extra'," he added. "So, we put £50,250 and it was bang on the money." Andrew said he and his son-in-law, who has a carpentry background, were taking on the challenge. When asked about his plans he said: "We haven't decided, we might sell it then go back t
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