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Monday, 22nd January 2007 (3191 views)

A US-based university is struggling to sell its leftover gold despite using an online auction site.

The space science and engineering school at the University of Wisconsin has failed to find a buyer for a 12.5 troy ounces of 99.999 per cent pure gold that was leftover after making refrigeration equipment for a space journey in 2005.

Unfortunately, no-one bid the minimum of $8,500 for the gold thread on the university's auction website, which usually features surplus university items such as computers and various white goods.

However, the university remain optimistic the gold will eventually be sold, especially as the initial asking price was considered out of line with the current price of gold.

Mark Mulligan, a project manager at the space centre, said "We just got to get the pricing right. It is gold. You can do with it what you would like."

 

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