A Co Wexford residential farm rose by €680,000 in less than five minutes as frantic bidding saw it sold at auction on Friday 28 November.

The circa 107ac property at Ballycarrigeen near Ferns, Co Wexford, was declared on the market at €2m by auctioneer David Quinn at 2.30pm and before 2.35pm he brought the gavel down at €2.68m.

A public and online auction, it was brought to the market in its entire and in four lots. The land was initially offered in lots and the combined total for these came to €1.8m. Most of the bidding on these came from online bidders.

The entire opened at €1.8m and two bidders brought this to €2m, at which point the vendors were consulted. Following instructions from them, the lots were withdrawn and the entire was placed on the market.

Proceedings

At this point, a new bidder joined proceedings from in the room and the under bidder who brought it to €2m ceased their involvement as it climbed in increments - mostly of €20,000, but a few bids of €60,000 and €80,000 were placed along the way too.

The bidders who entered after it was put on the market - a local farming family - were ultimately successful and purchased the farm for €2.68m.

After the auction, David Quinn of Quinn Property said: “From our own perspective, this finished what has been a great year on a very high note. It shows the demand that is in the region and the strength in depth of potential buyers following a very competitive auction for this farm.”

The farm listed with Quinn Property was guided ahead of auction at €1.8m to €1.9m. It was offered in lots with 45.5ac in Lot 1 and 33.5ac in Lot 2.

The farmhouse, yard and outbuildings were listed as Lot 3, while Lot 4 consisted of the 23.7ac on the western side of the M11 - and Lot 5, the entire.

The M11 motorway splits the farm, with 83.7ac and the house and farmyard on the eastern side of it and the balance, 23.7ac, on the western side.

A large underpass that facilitates the movement of machinery ensures it remains as one working unit.