Despite hardships felt with last year’s record drought, buyers continue to purchase farmland, drawing more bidders to auctions and keeping values high.
Fred Pollert of Pollerts Inc. in Seymour said he has seen high turnouts at auctions for the past two years. He said an auction this past Saturday brought 16 bidders and about 50 to 60 people present overall.
Pollert said land values have stayed high the past two years, ranging from $8,000 to $10,000 per tillable acre.
The land in Hamilton Township sold Saturday included 58 acres with about 53 to 54 tillable acres and sold for $538,000 in total — about $10,000 per tillable acre. Pollert said he originally projected the sale to be about $7,000 per acre, underestimating the eventual price by 30 percent.
“It turned out very well,” he said. “I was surprised.”
All content copyright ©2014 The Tribune, a division of Home News Enterprises unless otherwise noted.