Auction season may not be as hectic as in previous years, but the hammer sales continue online.
ome auctioneers are chomping at the bit to get back into the live auction room, while others are hoping to hold field sales. Others might opt for a hybrid of in-person and online auctions.
A number of online auctions over the past few weeks have produced great results.
In Tipperary, a 65-acre residential property in Coolbawn on the shores of Lough Derg has been bought by a neighboring farmer for £1.085 million or €16,692/acre.
Under auctioneer Nenagh Eoin Dillon’s virtual hammer, the farm topped its €700,000 guide by €385,000, or more than 50pc.
Arranged in 13 fields of flat, fertile ground with very little waste, the farm is a 20 minute drive from Nenagh and 10 minutes from Terryglass.
The farmhouse is a 1970s three bedroom bungalow in need of a complete renovation while the yard is made up of a three column hay barn with double buttoned sheds on each side and cattle handling facilities .
A road separates the property from the edge of the lake giving the farmhouse a decent frontage.
At auction, Eoin Dillon offered the property in three lots starting with the house on 1.5 ac. This opened at €150,000 and four bidders took it to €225,000 in two rounds of bidding.
The remaining land, spanning 63.5 acres, opened at €500,000. With two customers bidding in increments of €10,000 and €5,000, the price rose to €800,000 in two bidding rounds.
The set turned out to be the preferred configuration. It opened for €800,000 in the first round of bidding, €1.07m for the second round – and eventually went to a nearby farmer for €1,085m.
Eoin Dillon was delighted with the sale but not surprised with the result. A lakeside residential property is like gold dust, given the planning restrictions that apply in the area.
Derrycoffey, County Offaly
A 41-acre farm in Derrycoffey, Croghan, Rhode in County Offaly sold for £250,000 in an online auction that lasted 2 minutes and 31 seconds.
The digital clock showed bidding started at 3:09:23 p.m. and Gordon Cobbe’s gavel fell at 3:11:54 p.m.
The roadside grass farm – comprised of 41 acres of summer pasture and located about 10 minutes from Rhode – includes a derelict one-bedroom cottage and freestanding shed as well as an A-frame roof shed at two columns.
Auctioneer Gordon Cobbe of GVM said the block of land, which has a wide road frontage, could have forestry potential subject to the necessary testing and consents.
On the day the auction opened at €100,000 and with seven registered bidders, the auction went so fast that only three managed to place bids. The place went to market at €215,000 and sold for €250,000 to a local farmer.
Johnstownbridge, County Kildare
According to Enfield auctioneer Ed Carey, a 40-acre non-residential property in Gorteen, on the edge of Johnstownbridge near Enfield in County Kildare, has been pulled from the online auction at £485,000 and subsequently sold at a higher price.
Located 40km west of Dublin and less than 500m from the village of Johnstownbridge, the grounds are laid out in a number of professionally fenced, equal sized paddocks with a water supply ready for each.
It has been grown very well, according to Mr Carey, and although it has potential for development, it would also be suitable for almost any agricultural business.
The auctioneer admitted to being somewhat uneasy when the property was removed,
“What do you do when you withdraw a good during an online auction, how do you continue the negotiations? he wondered.
But the negotiations continued over the phone and when the deal was done the contracts were also exchanged via the mobile phone. Mr Carey described it as reflecting a generational shift in auctioning.
Waddingstown, County Wexford
Meanwhile in Wexford, Colum Murphy of Kehoe and Associates has sold a 20.68 acre grass and tillage farm in Waddingstown, Cleariestown, Co Wexford. In an online sale, the property fetched €255,000 under the hammer.
Situated 12km from Wexford, 8.5km from Wellingtonbridge and 2km from Cleariestown, the property is equally divided between tillage and grazing. One large field is stubble and four smaller divisions are pasture. The land has 250m frontage on the R733 Newline Road.
That day, the farm attracted two customers when it opened for €180,000.
Early auctions saw the price increase in small amounts, but at €200,000 bids rose to €5,000 and stayed there until the hammer fell to €255,000, which is a price tag. acre of €12,330.
Oberstown, County Louth
A 55.2 acre tillage and grass farm in Oberstown, Co Louth, described as an excellent property of premium land, was sold in lots during and after the auction with two 26-acre lots for a total of €746,000 or €14,846/acre.
Two 26-acre lots were purchased by a local farmer while a 3.2-acre site was sold privately for an undisclosed amount.
Auctioned by John V Farrelly of DNG Royal County, the holding is located at Oberstown Cross on the Louth/Meath border approximately 3km south-west of Ardee.
Laid out in three divisions, the land is suitable for any farming venture and described by Mr. Farrelly as flat land with a big heart.
The first lot, comprising 26 acres of plowed land with a natural water supply and around 500m of road frontage, attracted four bidders when it opened at €300,000. It went on the market at €340,000 and sold for €366,000.
A second plot of 26 acres is in former pasture, has a natural water supply and is on the corner of Oberstown Cross with road frontage extending for approximately 750m.
This opened at €300,000 and also attracted four customers before being put on the market at €340,000 and sold at €406,000. Both packages were purchased by the same customer.
The third lot, essentially a site extending to c.3.2ac, was sold privately after the auction. Mr Farrelly was delighted with the sale, describing the property as ‘one of the best pieces of land I have had to sell’.