Disappointment for the Bensen family with the auction of their long-held farming country at the top of the YP near Kadina.
On offer today through an online auction was three parcels of land taking in a combined 466 hectares (1150 acres).
A $3 million opening bid put the cat among the pigeons early for the first big block but the excitement fizzled quickly when the first two sales failed to reach reserve and were passed in.
That first big offer came from the only bidder for the block, which was later passed in after failing to reach its reserved price.
Three chunks of the Bensen family's long-held cropping country near Kadina at the top of the YP were up for grabs today.
Up first was the biggest block on Rodda Road, Boors Plain across 299ha (737 acres).
Hours out from the close that opening bid of $3m set the tone, offering $4071 per arable acre.
Average annual rainfall in the district is around 390mm.
Ray White agent David Bussenschutt said the YP farming land had been in the Bensen family "for many years".
The auction was paused for a short time and further $500,000 was put on the table to take the price to $3.5m (or $4749 arable acre).
But they were the only two bids for the block, which passed in after failing to make its undisclosed reserve price.
Mr Bussenschutt sold a single add-on paddock (82ha) at Cunliffe, just south of Kadina, for $1.6 million or $7882 on December 8.
Agents will now negotiate with the losing bidders for the sale and may need to list it again for sale.
The second auction on Beare Road, Kadina took in 134ha (332 acres).
This was the one with small gold mine in the middle of a paddock.
There were three bidders with the sale price reaching $1.2m or $3715 per arable acre, before also being passed in after not making the reserve.
The Bensen's are hanging onto their home and home block on 108ha (266 acres) with a winning buyer of the first lot offered first rights to lease the cropping land for the next three years.
The third block on offer this afternoon was on the Copper Coast Highway at Thrington across 33ha (80.5 acres).
It also failed to attract competition and was passed in at $325,000 or $4062.50 per arable acre.
The online sales were held through Openn Negotiation.
For more information contact David Bussenschutt on 0429 692511.
Chris McLennan
ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.
ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.
