Triple online auction in Wexford a strong barometer
Some of the lands sold immediately after auction at Ballyboy Ferns.
It was another successful auction day for Gorey-based Quinn Property last Friday, selling three smallholdings by online auction.
The first property was a 10-acre parcel at Ballyboy, Ferns. With road frontage on two sides and currently in stubble after corn, the land was of excellent quality.
There was good interest building up to the auction date, according to selling agent David Quinn, and there was a price guide of €15,000 per acre. Bidding opened strongly at €100,000 (€10,200/acre) and a break was called when the value reached €250,000 (€25,500/acre). When bidding resumed, the three remaining bidders fought it out before the gavel came down on a price of €285,000 (€29,000/acre).
“We were very pleased to have achieved such an exceptional result for our client which exceeded all expectations,” David commented afterwards.
Next was another 10-acre parcel in the same townland. With access via a short private lane off the public road, it also attracted good local interest with a price guide of €15,000. It too commenced bidding at €100,000 and a swift series of bids brought it up to €180,000 (€18,000/acre). There were no further bids forthcoming and the property was withdrawn from auction. Negotiations with the highest bidder ensued and the land was sold for a higher figure, David confirmed.
Finally, a 13.4-acre land parcel at Sparrowsland, Bree, Enniscorthy went up for auction at 12pm. The “superb holding” was laid out in three divisions and had direct road access. With seven registered bidders beforehand, there was good interest in the property, which was guiding €12,000/acre.
Once again, the bidding commenced with an opening offer of €100,000 (€7,500/acre). The bids continued until they reached a point of €185,000 (€13,800/acre). A recess was called at this point and, upon the resumption of bidding, it was declared on the market. Three bids later, the gavel fell on a very satisfactory price of €191,000 (€14,250/acre).
It was an interesting day’s auctioneering, with a total of 33.2 acres of Wexford land selling for an average price of circa €20,000 per acre.
