Good auction result
And it happened in front of a huge crowd, said Phill Purcell of GVM, who sold the land at Rathcannon in three lots.
The first lot included a good, two-storey farmhouse, a yard, which included 10 stables and a cubicle shed and 56 acres of good land, made 450,000. It opened at 350,000, says Purcell and three bidders, (two of whom were local farmers), took that up in €10,000 bids to €410,000 at which stage it was put on the market and subsequently was increased in €5,000 bids to €450,000, at which point it was sold to a neighbouring farmer.
The second lot, some 36 acres of fairly rushy ground, opened at €100,000 and was bid up to the sale price by two farmer buyers, says Purcell, who sold the lot for €200,000. The remaining land, some 40 acres, opened at €300,000 and was bid in € 5,000s to €350,000 at which stage it was put on the market and sold at €362,000.
The farm made over the magic million euro mark for the executors and was an indication of the confidence in the farming market, says Purcell. “It’s a lot of money for the times that are in it — especially in light of the upcoming budget.
“Farmer’s have a bit of money at the moment and they’re after a good year — the best of the last three years. They’re the best people in the world to spend money if they have it,” says Purcell. The former dairy farm was given an overall, pre-auction guide of €7,500 per acre and made slightly in excess of that sum at €7,609. The farm is located is minutes away from Athlacca village, 15 miles from Limerick.
