An auction lot of prime farmland in Co. Limerick more than doubled in value to just under €300,000 as two bidders went head-to-head in an online bidding war.
When six pastures spanning 40ac in Ballintona went under the virtual hammer, the opening bid was set at €130,000.
However, the bidding quickly reached €200,000 as the two prospective buyers competed against one another to acquire the land – which is suitable for beef, dairy and sheep farming, as well as equestrian activities.
In one flurry of bids between the pair, the price on offer for the fields – which are renowned for their fertile soil and are 3km from the village of Galbally – rose from €201,000 to €217,000 in as little as 67 seconds.
And 95 minutes after the auction began, ‘bidder two’ secured the farmland with a final bid of €295,000.
In another recent auction, approximately €21,000/ac was achieved in the sale of a circa 50.6ac residential holding with road frontage in Co. Wicklow, by Quinn Property in an online auction that took place on September 23.
The total sales price of €1,055,000 achieved for the property near Avoca, equates to the result of approximately €21,000/ac.
Auctioneer David Quinn had guided the property at Knockanree between €12,000 – €14,000/ac prior to the auction.
Noting that the executor sale offered very good quality land and a ‘lovely’ compact holding along with a residential property in need of an overhaul, he said there was strong interest from local farmers and business people.
He also had registered bidders from the neighbouring counties of Dublin and Wexford. There was more than ten registered bidders in total.