Bumper price paid for farm in online auction

Docker farm Kanungra sells for $905,000 in online auction conducted by Corcoran Parker

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"It is an enormous result for a dry land property"

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Agents Corcoran Parker has used an online platform solely for the first time to successfully sell a farm near Moyhu on Thursday for $905,000.

An onsite auction was planned for the 64.7 hectare property Kanungra at Docker before public gathering restrictions were imposed to combat the spread of coronavirus.

But in the online auction, which took almost 90 minutes to complete with three active buyers, the property sold to a prominent Wangaratta farming family.

Kanungra had been owned for nearly five years by a Sydney-based businessman who had used it principally for livestock grazing.

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Corcoran Parker's Mike Weller said it had used the online platform to sell water and buyers who didn't want to attend public auctions.

"We developed that platform about two and a half years ago and used it for the sale of water and a couple of other things," he said.

"Probably the most common use we've applied it to would be running it in conjunction with our public auctions.

"People could be bidding at home and we could be submitting the bids at the live auction.

"Some people don't like going to an auction and sticking their hand up."

Mr Weller said the vendor and registered bidders were comfortable with the auction being solely online.

How the bids rolled in toward the end of the auction.

How the bids rolled in toward the end of the auction.

"Once it is on the market we are trying to deliver a sense of urgency to everyone and you've only got five minutes now to make a bid," he said.

"Some people were bidding quickly as they would at a public auction, but others were waiting until the absolute death-knock."

The property, which can support 40 breeding cows and calves or 80 young steers, has been divided into six main paddocks with improvements including machinery shed, cattle yards and hayshed.

The area's average rainfall is 700mm with eight dams on the property.

"It is an enormous result for a dry land property without river frontage," Mr Weller said.

The story Bumper price paid for farm in online auction first appeared on The Border Mail.

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