Stunning price of $3.45m paid at auction for one large paddock in the Lower North

The Selleck family's single large cropping block across 106 hectares (261 acres) sold for a staggering $3,450,000 at the Freeling Recreation Centre.

The Wasley's block had been held by the Selleck family for more than half a century.

It had been expected to command a lot of attention when it was offered for sale.

"Opportunities to purchase land in this area are very few and far between," agents from Ray White Rural said.

Auctioneer Geoff Schell described the Wasley's block as "some of the best farm country in the state".

Bidding started at $2 million and rose briskly between two competing bidders.

Then a third bidder entered the fray with the knockout blow and won the auction when Mr Schell's hammer fell at $3.45 million.

The Harris Road property is 3km north of Wasleys and about an hour north of Adelaide on rich and fertile cropping soils of mainly red/brown loam soil types with sections of darker "chocolate" soil.

The district's average annual rainfall is 445mm.

The land is fully set up for cropping or hay-making in one big paddock allowing for long runs.

SA mains water is connected to the property.

Agents say the land is reliable and flexible as well as being easily managed and efficient.

"Ideally suited to existing farming operations looking for expansion opportunities or the property may well appeal to astute investors looking for high quality, reliable farming land which is so well placed to markets and transport routes," they said.

Mr Schell said the Sellecks' block has a history of good management.

"It offers a rare opportunity to acquire productive farming land, well suited to diverse enterprise options in this reliable and highly regarded region of the lower north of South Australia".

Agents said the Wasleys district was well recognised for growing quality cereals, crops, oil seeds, legumes, hay production and running livestock enterprises particularly prime lamb production.