Farm Ireland

Wednesday 13 December 2017

Auctioneer surprised by €272k sale

Jim O'Brien

Jim O'Brien

Auctioneer and vendor were very pleasantly surprised when a 20.7ac farm at Kilcavan, Tara Hill, Gorey, Co Wexford, exceeded its €215,000 guide price by €57,000 when it sold in two lots for €272,000.

The surprise in the package was the first lot to be put to auction by auctioneer David Quinn. This lot comprised the farmyard on 1.1ac. The yard is of the traditional type with a round-roof shed, lean-tos, a concrete yard and stone outbuildings.

This was guided at €15,000 and when it opened at €10,000 five bidders took to their task with gusto until the hammer came down at €42,000 or almost three times the guide.

The second lot comprised 19.6ac of what David Quinn describes as good-quality grazing ground in three divisions with extensive road frontage.

Proceedings opened with a bid of €200,000 and with two bidders in the field it soon moved on to €220,000 and was knocked down to a local dairy farmer for €230,000.

It is interesting to note that the purchaser of the 19.6ac had, just two days prior to the sale, himself sold 11ac located at Cullenbogue, Inch, about 1.5 miles from the property at Kilcavan.

The sale of these lands had facilitated his purchase of the property at Kilcavan.

The 11ac was guided by David Quinn at €9,000 to €10,000/ac and after being put to auction was withdrawn after one bid of €60,000 was received.

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It was subsequently sold to the bidder for a higher sum.

Indo Farming