40-acre Wexford farm exceeds price guide post-auction

• Lot 1 consisted of a house on 1.4 acres. The dwelling is a single-storey five-bedroom house with an attic conversion, built in the 1960s, and in very good condition;
• Lot 2 was 10.7 acres in stubble;
• Lot 3 contained 27.7 acres in stubble and grass;
• Lot 4 was the entire holding.

Auctioneer David Quinn had quoted a pre-auction guide of €300,000 for Lot 1, with an overall guide in the region of €800,000.

According to Mr Quinn, there were “strong volumes of early enquiries”, translating into a healthy total of about 10 bidders for the online sale.

Once the bidding started, Lot 1 quickly went from an opening bid of €200,000 to €300,000. Lot 2 then went from €120,000 to €160,000 in the initial bidding round. Lot 3 opened with a €300,000 bid, before rising to €340,000.

With a total of €800,000 on the table between the three lots, Lot 4 (the entire holding) promptly received an offer of €820,000. Further bids were then sought on the individual lots, bringing Lots 1, 2 and 3 up to €310,000, €175,000, and €350,000 respectively.

The sum of the three lots now equated to €835,000 and with no further offers on the entire property, this option was withdrawn and auctioneer David Quinn called a break to consult with the vendor.

Upon returning to the auction room, he declared the property “still short of its reserve”. No further bids were forthcoming and it was withdrawn. 

Following negotiations with the highest bidders, Quinn Property was delighted to report all three lots were sold immediately afterwards for a figure in excess of €835,000.