Kingy - just went for a search and found the auction (+ the price!!). Excellent - I'm impressed in this day and age to find that there are still people who've got the 'get up and go' to just take a risk like that to get an opportunity for cheap flying!
You've definitely staked a bet on something where you're very unlikely to lose. It may not be pretty, but it'll get you on the route to building those hours!