A MID-century dining suite bought for $50 at a second-hand store has been sold at auction for almost $7000. 

The circular, ’60s teak round table and chairs by Hans Olsen for Frem Røjle was bought from the Green Shed at the Mugga Lane tip earlier this year.

General manager of the EHVA auction site Adam McDonald said it was not unusual for mid-century furniture in good condition to achieve significant prices.

“This was a fantastic find by the vendor, in very good shape, and it was hotly contested by a range of potential buyers before closing at $6676,” Mr McDonald said.

“A new bidder entered the fray with six minutes to closing and the resulting competition saw the price jump more than $3000 in those final bids.

It attracted 10 different bidders over the 11 days of the online auction with 34 bids being placed in the last 20 minutes. The sale was part of EHVA’s quarterly Retro and 20th Century Design auction.