One-hit wonders Rednex are making history by becoming the first act to be sold in an online auction. Wannabe music moguls can buy the Swedish group, which scored an international mega-hit with the catchy Cotton Eye Joe in 1994, for $1.5 million on eBay.

For that price, a willing millionaire will get the band, their trademark, profits from their upcoming tour and rights to their recordings.

And it's a good investment for someone interested in getting into the music industry - Cotton Eye Joe has sold 10 million copies worldwide, and last year the track was reborn on the soundtrack of animated movie Barnyard.

Ranis Edenberg, who is one of the three owners of the band selling up, says, "Since it hasn't been done before, we don't know what to expect, but, with today's hype around becoming a pop star, what could be more ultimate than buying your own number one band and putting yourself in it?

"Considering that it's a unique product that might never appear on the market again, it will probably go down in the history books as one of the weirdest trades of all time."

(This news article provided by World Entertainment News Network)