14 DAY TRIAL // Rich people are prone to spend unreasonable amounts of money at auctions. That's understandable when the item they are bidding for really has high value or certain historical importance, or if its value could rise over time. But when we talk about a disused toilet block, no one expects the bidders to offer such a high sum.
However, that's exactly what happened at a London auction house recently. A toilet in Ashbourne, Derbyshire, has been sold for the astonishing sum of £100,000 ($166,700 / €121,800) at Lambert Smith Hampton. The figure is reportedly 10 times its guide price.
According to auctioneer Simon Riggall, the loo's guide price was estimated at £10,000 ($16,670 / €12,180).
“With a building like this, the beauty is in the eye of the beholder. We have to distance ourselves from it and allow the public to have their ideas and visions and decide for themselves what it is going to be,” he said, according Daily Mail.
However, the interest in the building was high, as two mystery bidders proved to really want the public toilet, so they rose the price of the single-storey, triangular building to six figures.
The building was used as a public lavatory up until 2012, when it was closed by Derbyshire Dales District Council as part of a cost-cutting plan.
The facility is built of bricks, it has two rooms – one for men and one for women, and it's equipped with roof lighting and running water. Each room has several basins and cubicles.
Many were shocked when they found out the Union Street disused toilet reached such an astonishing price. Property experts were expecting it to sell for about £25,000 to £30,000 ($41,680 – $50,000 or €30,400 – €36,500).
“I’ve seen amazing prices over the years but this has to be one of the most extraordinary I’ve ever seen,” confessed auctioneer Barry Pearson, who lives in the vicinity of the toilet block.
The district council said the money from the sale would be invested in a capital fund.
At this point, it is not known what the buyer plans to do with the unusual property.
As reported by Daily Mail, people in the area have much better options if they have some extra money to spend on properties. For example, for the same amount, they could purchase a 2 bedroom semi-detached bungalow or a three bedroom terraced house, complete with gardens and parking.