Almost 3,552 acres of farmland near Garden City and associated mineral rights sold for $3,474,000 Wednesday as 60 bidders turned out to bid on dryland, irrigated cropland, pasture and mineral rights.
"We had an excellent turnout, with well over 120 people in attendance, and we were glad to get strong results for the Nelle Beach Trust, which is liquidating its holdings," Scott Shuman, vice president of Westchester Auctions, said in a release. The auction was held in cooperation with Schrader Real Estate & Auction Company.
"The 842 acres of dryland sold for an average of just over $1,500 per acre, reflecting strong demand. The mineral rights associated with part of the land sold for $350,000."
The land and mineral rights were offered in 30 tracts, ultimately selling to eight different bidders.
Schrader and Westchester will hold a second auction of 5,600 acres of tillable cropland Tuesday. Information on that auction is available at www.schraderauction.com or by calling 800-451-2709.