The Dec. 2 auction of 61.3 acres of prime Illinois farmland saw active bidding carry prices up to a final selling price of $15,200 an acre. The farm was located just north of Roanoke in Woodford County and was all tillable.
The soils were prime, grade "A" with a PI of 141.9, with 147 being maximum per Illinois Bulletin 811.
According to John D. Moss, president, The Loranda Group, Inc., Bloomington, who handled the auction, bidding opened at $9,500 an acre. Two bidders took it to $13,000 where it temporarily stopped. Then a third bidder jumped in and took it to $15,200 an acre. All three active bidders were local farmers. There were 18 registered bidders with a total attendance of 75. The Loranda Group, Inc., can be reached at 800-716-8189.
While this was a highly successful auction, not all auctions are bell ringers. For instance, a Dec. 10 auction of 160 acres in Ford County, Ill, brought only $8,100 an acre. It was 99% tillable and featured a soil PI of 142.2. In addition, a sealed-bid auction in Morgan County requiring a minimum bid of $13,000 an acre failed to attract an offer.