Iceland for sale -- collect in person

LONDON (Reuters) - Great scenery and wildlife but financial situation in need of repair -- collect in person.

Iceland, which is going cap in hand to Russia for a 4 billion euro (3.2 billion pound) loan to bail out its failed banks, was offered for sale as a wholesale lot on eBay on Friday.

Bidding started at 99 pence but had reached 10 million pounds ($17.28 million) by mid-morning on Friday.

Globally renowned singer Bjork was "not included" in the sale, according to the notice, but there were nonetheless 26 anonymous bidders and 84 bids.

"Located in the mid-Atlantic ridge in the North Atlantic Ocean, Iceland will provide the winning bidder with -- a habitable environment, Icelandic Horses and admittedly a somewhat sketchy financial situation," the notice read.

Bidders' questions included: "Do you offer volcano/earthquake insurance?," "Is it possible that my payment will be frozen?," and "Will you accept C.O.D. as a form of payment?"