Ian Usher, 44, who emigrated to Australia six years ago, decided to sell his house, car, job and even his friends to the highest buyer in an effort to make a fresh start.
His life belongings were estimated to be worth 420,000 Australian dollars - but the lot only attracted a peak offer of 399,300 Australian dollars when bids closed.
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Speaking after agreeing the fee, Mr Usher insisted he had "no regrets" at making an apparent loss.
He said: "I am relatively pleased but I thought it would go a bit higher, if I'm honest.
"But I've no regrets. What's done is done and I'm looking forward to sorting this all out." Of the future, he added: "I've got some ideas. Once it's finished and confirmed, I'd like to do some travelling. I'd like to go to the top of the Eiffel Tower, it's one of a huge list of things I want to achieve."
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