Auctioneer David Quinn of Quinn Property, Gorey and Carnew, went to auction last Friday with two compact farms situated in the Gorey region.

The first property on offer was a 39-acre farm situated at Grove Mill, Hollyfort, Gorey, Co Wexford, that included a two-storey residence in need of significant modernisation.

The auction was well attended with 50 to 60 interested onlookers and plenty of bidding on the property. Quinn offered the farm in its entire first and was bid as far as €560,000.

However, Quinn was instructed by the vendors to try the farm in lots to see if a better price could be achieved.

Lot one, which included the house and yard set on 13 acres, was keenly contested and eventually knocked down to a local couple with farming interests for €222,000, well in excess of the €150,000 guide.

The second lot consisted of c11.75 acres and adjoined the first lot. Once again it was hotly contested before being knocked down to the same couple who acquired the first lot for a price of €197,000.

The third lot, which comprised the remaining 14 acres with extensive road frontage, was sold under the hammer to a local farmer for €210,000. The total price paid for all three lots came to €629,000 or more than €16,000 per acre.

Second farm

After this early success, Quinn was hoping to carry the momentum into his second auction of the day, however the Wexford auctioneer found the going somewhat more difficult this time around.

The farm on offer was c50 acres of heavier-type lands at Crandaniel, Kilmuckridge in Wexford, that could be sold in its entire or in two separate lots.

With no offers coming for the farm in its entire, Quinn tried the property in lots. The first lot extended to 10 acres and was bid to €50,000 before being withdrawn. The second lot of 40 acres was contested by two active bidders, with offers starting at €200,000. Bidding moved as far as €250,000 before stalling and Quinn withdrew the farm for private negotiations.

According to Quinn, significant progress has been made since the auction and he hopes to conclude a deal by the end of the week for a price in the region of €8,000/ac for the farm. CL