Smyths on Haddington Road has for years been known as the advertising pub because it is the local for the many agencies and sound studios in the area. It sold at auction yesterday for £3.35 million (€4.25 million), a price tag that just about guarantees the old-fashioned pub will be massively redeveloped. One agency, the Larkin Partnership has even taken out clever press advertisement mourning the impending closure of a fine institution. The auction was transmitted live on the Internet - a first for any Irish auction.

Unfortunately, the link went down several times in some areas. Not that it mattered as bidders had to be in the auction room.