The identity of the purchasers of 15 Rowan Court was not disclosed by Bayleys Real Estate agent Mat Andrews yesterday, but he confirmed they were from out of town and wanted a holiday home.
Swann paid $660,107.27 for the property on September 9, 2003, according to court documents.
The most recent capital valuation for rating purposes was $720,000 in 2009-10, up from $530,000 in 2003-04.
The Anzac Day sale followed penalty orders for millions of dollars in the civil jurisdiction of the High Court last June, following Swann's conviction in 2009.
Swann is serving a nine-year, six-month jail term for his part in a $17 million fraud against the Otago District Health Board between 2000 and 2006 while he was the board's IT manager.
He has to repay the Crown almost $9.5 million - a $6 million pecuniary penalty order and the proceeds from the forfeiture and sale of tainted property items worth $3,492,583.
Included in the $6.5 million penalty is the proceeds from the sale of restrained property worth about $800,000.
The list of tainted property included $70,046 in proceeds from an earlier sale of neighbouring 17 Rowan Court.
Mr Andrews said the Crown would have sought a recent market valuation for 15 Rowan Court but he did not know what that amount was.
"The reserve was met at $550,000," he said.
Mr Andrews agreed properties were selling below rateable value in Wanaka and the Swann house was no exception to the market, which he described as "deathly quiet" and "at or near the bottom".
Between 40 and 50 people attended the auction and four parties were actively bidding.
"It is a quirky home and a very good address.
"I don't know if there was anyone there, other than neighbours, just to see what happened because of Mr Swann.
"They were genuine buyers and it was a fair market price," Mr Andrews said.
In March, the Crown sold 20 cars, bikes and boats that had belonged to Swann.
The auctioneer, Turners Dunedin, has declined to reveal the amount raised, although it has been reported a 1929 Rolls-Royce Phantom 2 sold for $140,000 (purchased for $160,000 in 2006), a 1970 E-Type Jaguar went for $53,000 (purchased for $75,000 in 2001), a Mercedes Benz 280 SL fetched $58,000 (purchased for $65,000 in 2004) and a Honda NRX 1800 sold for $15,500 (purchased for $43,311 in 2005).
Swann this month lodged a civil appeal with the Court of Appeal regarding several trusts he recently became associated with, although the grounds of the case have not yet been made clear.
The Otago Daily Times has requested a full update from the Crown on the proceeds from sales of forfeited items.
