At a recent executor sale Bailieborough auctioneer Peter Murtagh sold a number of interesting lots including two pieces of property he had also sold 20 years ago, in the days before boom or bust.
The auction, which included an old Orange Lodge, attracted the biggest crowd Mr Murtagh saw at a sale since the heady days of 1996. Whether or not the presence of the lodge brought the crowd the event certainly produced buyers as four out of six lots sold on the day.
The main property was a 66.5ac residential farm located at Tullyroan between Shercock and Cootehill, Co Cavan. Run as a drystock farm in recent years it was once home to a dairy operation. The property includes a house that needs upgrading, a newly built, four-bay slatted shed with a calving area, the old Orange Lodge and a lakeshore building.
Additional to the main sale Mr Murtagh had two properties he sold previously. These included an adjacent 13.6ac parcel at Pottle, Tullyroan he sold to the deceased in 1993 and a derelict cottage he sold in 1997 to a brother of the deceased who lives in the UK.
On the day the main farm extending to 45ac with the house and sheds attracted two bidders and was bid to €285,000. The Orange Lodge was added to this lot and this enhanced property attracted a further €10,000 at which point it was withdrawn from auction. Active negotiations are ongoing.
An 18ac 'tail of land' extending from the main farm with independent access via a narrow lane was sold to an adjoining farmer for €80,000. "The man owns land at either side of the 18ac," explained Peter Murtagh, "all he has to do is put his arms around it. I sent him home a happy man."
Attention then turned to the two additional properties Mr Murtagh had sold a number of years ago. The 13.6ac of land at Pottle was sold in 1993 for IR£17,000 (€21,590) and at last week's auction it opened at €60,000, almost three times that price. With three bidders in contention it went on the market at €100,000 and sold at that making five times what it made in 1993.
The second piece was a derelict cottage adjoining the main farm that was bought by a brother of the deceased in 1997 for IR£1,250 (€1,587). "He might have intended to retire back from the UK but all he ever did with it was open the door and look in," said Mr Murtagh. At auction last week it opened at €10,000 and attracted three bidders before it sold for €21,000 to a local tradesman making 13 times what it made 18 years ago.
"I'm thinking of getting a new sign made," he said, "it will read, 'Sold Again'."