SOURCE: Woltz & Schrader Auctions

Woltz & Schrader Auctions

April 16, 2010 10:53 ET

Georgia Land Auction Draws Big Crowds, Resulting in Sale of 4,900 Acres Over Two Days

DUBLIN, GA--(Marketwire - April 16, 2010) -  Hunters, investors, timberland buyers and other bidders snapped up approximately 4,900 acres of land in a two-day auction of South Georgia forest land April 9-10, as two of the nation's leading land auction companies combined forces to sell the land for Rayonier.

The sale, which included sessions in Waycross, Ga., on April 9 and in Dublin, Ga., on April 10, resulted in a combined sale price of more than $6.3 million in the Woltz & Schrader auction. The auction attracted capacity crowds on both days.

"It was a very successful auction. We had sought to create a level playing field between large buyers and those who wanted smaller amounts of land, and that worked out just as we had hoped," said Jim Woltz, president of Woltz & Associates. "For most of the two days, we had a tug-of-war between bidders seeking to buy large combinations of tracts and those seeking just 100 acres or so."

"We offered the land in 106 tracts, and we had more than 40 different successful buyers, so the bidders seeking smaller amounts of land more than held their own against the larger investors," said Gene Klingaman, vice president of Schrader. "This served to create more competition, ensuring that the high bids would represent fair values based on today's market conditions, so we were pleased with the outcome."

Rayonier accepted more than 86 percent of the total bids based on value, said Woltz. "Additional offers on additional land are being considered," he said.

The auction included land in 16 counties throughout Southeast Georgia.

Woltz & Associates, based in Roanoke, Virginia, specializes in timberland, farmland and commercial properties with an emphasis on the Mid-Atlantic and southeastern states. Schrader Real Estate & Auction Company, Inc. based in Columbia City, Ind. is one of the nation's leading auction companies specializing in the sale of farmland, timberland and recreational land nationwide. More auction information.

Contact Information

  • For more information:

    Carl Carter, 205 823-3273
    Lindsay Fernandes, 205 909-3705