An extraordinary auction for land in Knockadooma, Templemartin, near Bandon in Co Cork, highlighted the strength of certain dairy farmers.

The auction took place in the Riverside Park Hotel, Macroom, Co Cork, with the land selling for a substantial €840,000 or €17,900/ac.

It took 66 bids to separate the four parties (including two solicitors) who wanted the farm. In the end, it was a dairy farmer who outbid the others.

Speaking with auctioneer Daniel Fleming after proceedings concluded, it was clear that a rather remarkable auction had just occurred.

“There was some buzz in the room. It was packed with 62 people and it was electric,” he told Irish Country Living.

The auction

Previously guided in its entirety for over €515,000 or €11,000, the farm was offered in two 23.5-acre lots. The first lot was opened at €240,000 or just over €10,000/ac and held with one bid. The second opened at €200,000 or €8,500/ac and held at €220,000 or €9,400/ac.

When Fleming offered the entire package, the poor performances of the individual lots were quickly forgotten. The entire flew. It opened at €450,000 or just under €10,000/ac. Three bidders were involved and in no time it was at €700,000 or almost 15,000/ac.

At this point, a pause was taken to consult with the vendor and to give those in the auction room time to draw breath.

Along the way, another bidder entered the fray, and it was they who pushed the eventual buyer until the hammer fell. When it did fall, the land had achieved €840,000 or almost €18,000/ac. The guide of €11,000/ac prior to auction highlights the extraordinary nature of the result.

The farm itself

The farm is situated circa 15km north of Bandon in an area with a strong dairy presence. It did not contain any farm buildings and was just bare land.

It is a good-quality arable farm that is currently laid out in grass. It has been used for grazing and silage and was leased out for a number of years.