We’ve scratched our heads about NFTs selling for hundreds of thousands of dollars but here’s something that arguably beats it.

Last Saturday a property in Derby, Tasmania affectionately nick-named “the Crack House”, sold for $1.3 million. The house was built in 1900 but its most recent owner transformed it into a makeshift bar and gave it the nickname.

Bidders were expecting a $800,000 sale but it sold for nearly 50% more despite there only being three people in competition.

Those three people, though, were no doubt attracted to Derby’s mountain bike culture. While an undeniably pretty little former tin-mining town, Derby has also been a ghost town… until MTB trails started being cut into the hills around it as the MTB craze started to take off.

Now, 90 minutes out of Launceston, into the northeast of Tasmania, it’s also a desirable investment as well as a world-class biking destination.

In fact, the NSW buyer pulled over while on his bike to bid for the property on his phone.

The ASX hasn’t performed as well today, falling 0.88%. Resources led the laggard sectors, falling nearly 3%.

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for Thursday September 2 as at 12pm:

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Today’s top stock was consumer electronics company TTA Holdings (ASX:TTA), which rose 128% in the first 13 minutes of trade despite having no news. Trading in TTA shares has since been paused.

Rubicon Water (ASX:RWL), an irrigation-tech company, rose over 50% on its ASX debut.

Gold play Great Boulder Resources (ASX:GBR) announced drilling results from its Mulga Bill prospect in WA, which were up 150g/t gold.

 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for Thursday September 2 as at 12pm:

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Aspiring gold developer West Wits Mining (ASX:WWI) fell off the back of the Definitive Feasibility Study for its project in South Africa.