SOURCE: Schrader Real Estate & Auction Company

Schrader Real Estate & Auction Company

November 09, 2010 10:38 ET

Two-Day Auction of Midwestern Farmland Brings $8,853,600

COLUMBIA CITY, IN--(Marketwire - November 9, 2010) -  A two-day auction of farmland in Indiana and Ohio resulted in packed auction sites and strong prices, as 1,473 acres of land sold for a total of $8,853,600.

The sale included 737 acres in Indiana, sold Friday, Nov. 5, and 736 acres in Ohio sold on Saturday, Nov. 6. Schrader Real Estate & Auction Company managed the sales.

"As in other recent auctions of agricultural land, we had a mix of local farmers and investors from outside the area, and for the most part, this was resolved in favor of the bidders from the local areas on Friday and Saturday," said R.D. Schrader, president of the auction company. "We also continued to see another major trend we've seen in the past year or so -- a greater emphasis on quality. Buyers are willing to pay more for quality farmland across the board."

Prices ranged from $4,290 per acre for 42.78 acres in Hancock County, Ind., to $7,731 per acre for 196.56 acres in Shelby County, Ohio. "Prices were consistently strong in Indiana's Hendricks and Boone counties, where they ranged from $6,011 to $6,913 per acre," said Schrader.

"Land prices currently reflect good commodity prices, but there remains a strong underlying value based on the stable returns and long-term performance of agricultural land," said Schrader.

Schrader Real Estate & Auction Company, based in Columbia City, Ind., is a national leader in the sale of agricultural land throughout the United States. Individuals interested in additional information on future sales or on Schrader's auction services may call 800-451-2709 or visit www.schraderauction.com. More auction information.

Contact Information

  • For more information:
    Carl Carter,
    205-823-3273

    Lindsay Fernandes
    205-909-3705