CLOSE SHAVE: In town for haircut, places million dollar bid
ONE OF the largest rural acreages to come on the market in the Clarence Valley has sold post-auction after being passed in at $1.4 million.
Ross Creek at Buccarumbi, a 2447.94ha cattle and timber property with river frontage, attracted unprecented interest during a five-week advertising campaign, auctioner David Farrell told the bidders at South Grafton Ex-Servicemen's Club.
The rural property specialist at Farrell McCrohon Stock and Station Agents, Jojo Newby, said the sellers were happy with the price.
She described the buyer, who wished to remain anonymous and did not disclose the sale price, as an Australian from outside the region.
"We were happy with the way the auction went," Ms Newby said. "The bidding was good and we had a nice crowd here."
Bidding was slow to get under way and began with a bid from the floor of $1 million.
The eventual buyer, a telephone bidder, increased it to $1.2 million, but it slowed as the bidding headed to $1.3 million.
When asked to bring his bid to $1.3 million, the local bidder said he was reluctant, because it might bring bad luck.
Once this mark was passed the bidding went up in $25,000 and $50,000 increments until it stalled at $1.4 million.
After a short break the auction resumed, but with no further bids, the property was passed in.
Soon after the announcement came of the sale.
While Ms Newby said the level of interest in the sale showed the value of an integrated marketing web campaign, the old-fashioned newpaper advertisement still had some clout.
"The gentleman who was bidding from the floor only came into town this morning for a haircut," she said.
"He saw the advertisement for the property in The Daily Examiner and decided to come over to see what happened.
"I'm glad he did. He got things going and we ended up with a sale everyone is happy with."
Ms Newby said the buyer became aware of the property through Farrell McCrohon's online marketing.
"He saw the property on the internet and watched a video of it and said, 'I've seen enough'," she said.