SOURCE: Woltz & Associates

Woltz & Associates

April 09, 2010 14:52 ET

Rayonier Land Auction Brings $2.467 Million on First Day

WAYCROSS, GA--(Marketwire - April 9, 2010) -  The first day of Rayonier's 6,200-acre land auction drew a capacity crowd to Waycross's Exchange Club Center, with 80 registered bidders competing for land that ultimately sold for $2,467,300, according to officials of Woltz & Schrader auctions, which managed the sale.

In all, 16 bidders emerged as successful buyers in the sale, which attracted hunters, investors and others seeking the Rayonier woodland. The land sold for $1,722 per acre on average.

"We had a great first day, but more than half the work is still ahead of us," said Jim Woltz, president of Woltz & Associates. The auction, which will continue on Saturday in Dublin, Ga., was managed by Woltz & Associates and Schrader Auction Company, who teamed up to handle the large scale, two day sale.

"We had a great turnout with a lot of enthusiasm around the sale, and we feel that everybody walked away happy," said Woltz.

The auction, which allowed bidders to buy tracts individually or in combinations, was designed to place large and small buyers on an equal footing.

"Some of these buyers were looking to purchase a tract that bordered their home, and some were looking for larger amounts of land in combinations," said Woltz. "It was anybody's ball game, and we had 16 buyers who were certainly pleased with the turnout."

"The strong field of bidders ensured the competition that results in a fair market prices," said Woltz.

The auction will continue on Saturday morning in Dublin, GA with the final 50 tracts available in Telfair, Laurens, Coffee, Irwin, Dodge, Pulaski and Wilcox counties.

Woltz & Associates, based in Roanoke, Virginia, specializes in timberland, farmland and commercial properties with an emphasis on the Mid-Atlantic and southeastern states, while Schrader is one of the nation's leading auction companies specializing in the sale of farmland, timberland and recreational land throughout the Midwest.

Contact Information

  • For more information:
    Carl Carter, 205 910-1952
    Lindsay Fernandes, 205 910-1952