Eight bidders competed in Quinn Property’s online auction on Tuesday 27 October, as a 27ac farm at Glendoyne, Courtown, Co Wexford, sold for over €23,000/ac.
Comprising two adjoining grassland plots with good frontage, the holding was guided at €15,000/ac to €18,000/ac and offered in lots or as a whole.
Lot 1, comprising 16ac, opened at €180,000 and quickly reached €260,000.
Bidding was stronger for lot 2, which rose from €160,000 to €300,000 in a rapid exchange.
Moving on to the entire, auctioneer David Quinn asked for bids in excess of the combined €560,000.
“If I don’t get higher bids, I won’t be coming back to the entire,” he warned.
A single bid of €580,000 kept the game open.
A second round of bidding resulted in lot 1 reaching €285,000, while there was no advance on lot 2.
At this point, the original bidder for the entire holding returned, pushing the price to €595,000, before a third round of bidding ensued.
Lot 1 saw a small increase to €300,000, while lot 2 saw no further advance.
“You appear to be on your own for the entire,” said the auctioneer, addressing the sole bidder for the entire holding. “Bid me on if you have an interest; if not, we’re selling in lots.”
The tactic paid off, with the bidder raising their offer to €610,000.
A final round on the individual lots brought their combined total to €620,000, but the entire holding prevailed, selling for €630,000 to a local farmer.
It’s a busy period for Quinn Property, with further auctions scheduled for 6 November: a 12ac land parcel at Ballingate, Carnew, Co Wicklow, at 12pm, followed by an 8ac residential farm and outbuildings at Ballyedmond, Gorey, Co Wexford, at 3pm.
A feasibility study for a five-unit residential development has been undertaken for the latter, with details available on request from the auctioneer.
