Red hot AuctionsPlus Property sales hit $31.5 million

The past week saw some astounding results for four rural properties sold exclusively through AuctionsPlus, totaling $31.5 million, as two sales smashed their initial reserves within minutes of the sale commencing. As a burgeoning segment of the AuctionsPlus platform, recent online rural property sales results have mirrored the record livestock results and scorching confidence being felt right through the agricultural sector.

On Tuesday 12^th October, 928 acres situated in the Upper Murray, sold well above vendor expectations, hitting $16 million. “Woonoona”, near Greg Greg NSW, was sold through Inglis Rural Property in conjunction with Elders Rural Property Albury. The catalogue received 4,390 views as 120 registered users entered the auction, with seven active bidders competing. The property surpassed reserve by 3 million, equating to $17,241/acre.

It was three-from-three on Friday 15^th October, with the triple offering from Elders Ararat all selling well above set reserve and generating over 6,000 catalogue views. Of the three properties offered, “Rossbridge” and “Tellefson” burst through their reserve levels within three minutes of the sales commencing. At approximately 555.5 acres, “Rossbridge”, Lake Bolac Victoria, sold 60% above its reserve, hitting $13,500/acre. “Tellefson”, Wallaloo East Victoria, at 555.85 acres, finished 17% above the pre-auctions reserve, at $7,700/acre.

The third of the three Elder Ararat properties to be sold was “Misery”, Callawadda Victoria, at approximately 466 acres. While the online auctions for this property got off to a slower start, it gained momentum as the sale progressed, with the final sale price of $8,000/acre exactly 60% above the reserve.

The coming week has another two properties to be sold on Thursday 21^st October, with “Delroy” 1092 acres at Jincumbilly in the southern Monaro, offered through Nutrien Harcourts Bombala. Through Nutrien Harcourts Tamworth, “Loomberah Park” comprised of 490 acres at Tamworth will also be offered.