A Chicago woman has bought an abandoned house on eBay with a bid of just $1.75, as the US economic crisis continues to deepen.

Joanne Smith, 30, was the top bidder for the home during an auction on eBay, The Saginaw News reported.

"I am going to try and sell it," she told the newspaper. "I don't have any plans to move to Saginaw."

Smith said she has not seen the property or visited Saginaw, which has been hard-hit by economic troubles in recent years.

There is a notice on the door of the home saying a foreclosure hearing is pending, the newspaper said. She must pay about $850 in back taxes and yard cleanup costs.

The news comes as the US economy faces its worst days after Wall Street experienced its biggest drop since the crash of 1987.

World stock markets were also mixed Thursday as broader concerns about a global slowdown dampened relief over the US Senate's passage of the $700 billion bank rescue package.

DB/RA/IR