It was an unbelievable auction.- Brian Hancock
A Southern Cross paddock has sold for more than $9000 an acre at auction. Brian O'Halloran and Co director and auctioneer Brian Hancock said Friday's auction netted the owners a cool $724,905 for the 80.1-acre (32.4 hectares) parcel of land.
"It was an unbelievable auction," Mr Hancock said.
He said the auction, which was held at the Koroit Bowls Club, had a strong attendance with locals and out-of-towners interested in the land.
"There were 34 people there," he said.
"We sold it on behalf of Paul and Heather Gleeson at Killarney.
"It was 80.1 acres - just one big paddock.
"It had a good set of timber stock yards, a windmill and solar powered electric fence."
Mr Hancock said the opening bid was for $6500 an acre.
"It rose in $100 bids then $50 then $25," he said.
"We had 29 bids all up.
"It's a great result.
"It was well above the reserve price."
Mr Hancock said the land was purchased by a local farmer.
"He will use it to run cattle as an outpaddock," he said.
"It's a great result for the district, it gives a lot of confidence.
"If there's another three or four paddocks out there we'd like to have them for sale.
"We had good interest from out-of-town and local buyers.
"As you can imagine, the vendors are over the moon."
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