Farm Ireland

Sunday 21 January 2018

Auctioneers content at post-auction sales

Jim O'Brien

Jim O'Brien

"Any day you sell is a good day" is a refrain that frequently falls from the lips of auctioneers in these straightened times.

Kilkenny auctioneer Pat Gannon had a good day last Thursday when he offered for sale a 72.5ac farm located near Freshford, Co Kilkenny.

The farm was presented in five lots, four of which were withdrawn and sold immediately after auction; the other is in negotiation.

When the first four lots comprising 64.5ac were withdrawn from auction, the amount on offer came to €472,000. All four were subsequently bought by neighbouring farmers for figures in advance of their highest bids.

Located on the outskirts of Freshford, the non-residential farm is described as prime agricultural land, with many of the parcels enjoying vast road frontage.

A large crowd of locals turned up at the auction, which saw the first lot, a 42ac parcel with no road frontage, open at €200,000.

After a number of bids, it was withdrawn at €280,000.

Lot two, consisting of 8ac, opened at €50,000 and was withdrawn at €80,000, while lot three, 3.75ac, opened at €30,000 and was withdrawn at the same amount.

Also Read

Lot four, a 5ac plot, opened at €40,000 and was bid to €62,000 before being withdrawn, while lot five, a 14ac parcel with no frontage, opened at €50,000 and was bid to €100,000 when it was withdrawn.

All lots, except lot two, were sold immediately after auction for sums in excess of their final bids.

Mr Gannon says active negotiations are ongoing to close the sale of the final piece.

"It was a good day," he said. "All the buyers are neighbouring farmers and everybody was happy."

Jim O'Brien

Indo Farming