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University admissions may often seem like a lottery but not usually like an auction.

However, Dutch business school Nyenrode Business Universiteit is offering a place on its MBA programme to the highest bidder on the website eBay.

"It's a creative and innovative way to attract a more diverse group of international business-savvy students," said Nyenrode professor Karel Samson.

But the university makes it clear that if the winner doesn't meet the course entry requirements "the deal will be off".

So much for the free market.