We Sell Farm & Ranch Real Estate...Differently

2009 Case Studies

ELINOR BLOBAUM ESTATE ABSOLUTE LAND AUCTION – 725.7 ac +/- dryland, pasture, and improvements located in Dundy & Chase Counties, NE.  This auction was held on December 1, 2009, at the Legion Hall in Wauneta, NE.  The majority of the property had been in the family for over 90 years. The seller was an estate with 34 heirs. They decided to sell by auction because in the will the property was ordered to sell, most efficient way to sell with the large number of heirs, and the property was located both in a financially strong community and in a very productive area.  The property was offered in 5 parcels, 1 combination, and southwest unit and was sold with no reserve. The property sold for $950,000 in 3 parcels at the auction but the buyer of the southwest unit then sold the improvements to another buyer. The buyers were all local owner operators who were adding on to their current operation.  Over 80 people attended the auction with 32 registered bidders. 78 days from signing of listing contract to closing. 


WICKMAN FARMS INC. LAND AUCTION – 1,033 ac +/- Sub-irrigated pasture, flood irrigated, and pivot irrigated located in Logan County, CO.  This auction was held on November 16, 2009, at the Ramada Inn in Sterling, CO.  The property was sold to liquidate the estate of Harry Wickman. Harry’s estate is be partially distributed to a small boy who is disabled and partially distributed to Saint Jude’s Children Hospital.  The decision to sell by auction was to offer the property to the public to eliminate any question as to what the final price would be when offered to the public.  The property was offered in 3 parcels and as a single unit with a minimum bid of $540,000.  The property was sold for $685,000 in 3 parcels. The buyer for Parcel #1 was an adjoining landowner, the buyer for Parcel #2 was an adjoining landowner, and the buyer for Parcel #3 was a landowner in the area. Over 34 people attended the auction with 12 registered bidders. 66 days from signing of listing contract to closing.


PAYTON CREEK, LLCi CRP/PASTURE AUCTION – 316 ac +/- CRP and pasture located in Logan County, CO.  This auction was held on November 16, 2009, at the Ramada Inn in Sterling, CO.  The  property had been in the family for over 80 years. There is 8 members of the Payton Creek, LLC. Seven were heirs and one spouse of an heir, Wesley Grauberger. They decided to sell because it was becoming difficult to handle the affairs of the LLC with so many members. They decided to sell by auction because it was a simpler method and there was no question as to what the final price would be when offered to the public.  The property was offered in 2 parcels and as a single unit with a minimum bid of $135,000.  The property was sold for $215,000 in 2 parcels. The buyer for the CRP was an investor and the buyer for the grass was a local landowner. The major influence on the CRP was the 5 years remaining on the contract, with a $41/ac CRP payment, plus the quality of the soils. Over 44 people attended the auction with 16 registered bidders. 71 days from signing of listing contract to closing.

 

KONTNY ENTERPRISES, INC. LAND AUCTION – 2,395 acres dryland and pasture located in Deuel County, NE.  This auction was held on November, 2009, at the Sedgwick County, Fairgrounds in Julesburg, CO.  Kontny Enterprises, Inc. is a long time family owned corporation and decided to sell to liquidate the corporation. The property was offered in 5 parcels, 2 combinations, and as a single unit with a minimum bid of $785,000.  The property sold for $870,000 in 3 parcels and 1 combination. The four buyers included a local owner operator purchasing Parcel #2B, a young man who was a neighbor purchased Parcel #3 as his first investment, a out of state buyer purchased Combo #1 but they own property in the area, and a family member purchased Parcel #2A. Over 40 people attended the auction with 13 registered bidders. 113 days from signing of listing contract to closing.

 

MARTIN RUCH PIVOT IRRIGATED LAND AUCTION – 5,151 ac grass and pivot irrigated in Dundy and Chase counties, Nebraska.  This auction was held on September 1, 2009 at the Imperial Inn, Imperial, NE.

 

 

 

CONSIGNMENT LAND AUCTION – 1,745 ac CRP, dryland and pasture in Kimball County, Nebraska.  This auction was held on June 30, 2009 at the Ramada Inn, Sterling, CO.

 

 

 

 

 

 

RUCH PIVOT IRRIGATED LAND AUCTION - 968 ac +/- pi vot irrigated, dryland, and grain storage located in Logan County .  This auction was held on April 2, 2009, at the Haxtun Community Center in Haxtun, CO.  The seller was an older couple who had owned the majority of the property for ov er 70 years. The property was offere d in 4 parcels, 1 combination, east unit, and as a single unit with a minimum bid of $600,000. The property sold for $860,000 in two tracts as the east unit and parcel #3. Both buyers were local owner operators adding on to their existing operation. Over 61 people attended the auction with 19 registered bidders. 63 days from signing of listing contract to closing. 

 

CARROLL DRYLAND AUCTION - 960 ac +/- dryland located in Cheyenne County, CO.  This auction was held on March 31, 2009, at the Cheyenne County Fairgrounds, in Cheyenne Wells, CO.  The seller was a owner operator.  The property was offered in 3 parcels, 1 combination, and as a single unit with a minimum bid of $395,000.  The property sold for $515,000 as a single unit. The buyer was an absentee owner who owns land in the area. 39 people attended the auction with 14 registered bidders. 75 days from signing of listing contract to closing. 

 

RIDE PIVOT – DRYLAND AUCTION - 417 ac +/- pivot, dryland, and pasture located in Logan County, CO.  This auction was held on March 10, 2009, at the Ramada Inn in Sterling, CO.  The property was offered in 4 parcels, 2 combinations, and as a single unit with a minimum bid of $285,000.  The property sold for $312,500 as a single unit. There ares 3 buyers. One was an investor and 2 were owner operators.  40 people attended the auction with 18 registered bidders. 85 days from signing of listing contract to closing. 

 

WOODS (5W Inc.) RANCH AUCTION – 3,275 ac +/- pivot irrigated and pasture located in Dundy County, NE.  This auction was held on March 9, 2009, at the Legion Hall in Haigler, NE.  The some of the property had been in the family for over 80 years. The sellers were an older couple and their son. They decided to go with a auction to allow the neighbors an equal opportunity to purchase.  The property was offered in 6 parcels, 2 combinations, north and south unit and as a single unit with a minimum bid of $1,200,000.  The property sold for $1,595,000 in 3 parcels. The buyers were all local owner operators who were adding on to their current operation.  Over 70 people attended the auction with 12 registered bidders. 75 days from signing of listing contract to closing. 

 

KELLY PIVOT IRRIGATED LAND AUCTION - 944 ac +/- pivot irrigated, rural acreage, and pasture located in Chase County, NE.  This auction was held on March 3, 2009, at the Imperial Inn in Imperial, NE.  The property was owned by a family owned LLC.  The property was offered in 7 parcels, 3 pivot combination, 5 pivot combination, and as a single unit with a minimum bid of $1,570,000.  The property sold for $2,100,000 as a single unit. The purchaser was several family members.  The auction provided the opportunity for family members to receive market value while allowing family members to purchase the property. 90 people attended the auction with 24 registered bidders. 76 days from signing of listing contract to closing. 

  

NEVIUS FAMILY LAND & WATER AUCTION – 1,164 ac +/- flood irrigated, dryland, Arkansas Riverbottom hunting, rural acreage, sub-irrigated pasture, LAWMA water rights, and Lamar Canal Irrigationi Water located in Prowers, County, Colorado.  This auction was held on February 5, 2009, at the Cow Palace in Lamar, CO. The sellers were a brother and sister who acquired the property through inheritance.  969 acres was offered in 6 parcels, 2 combinations, and as a single unit, 195 acres was offered in 3 separate parcels, 135 shares of LAWMA was offered in 135 lots, 3 combinations, and as a single unit, and 30 shares of Lamar Canal Irrigation Water with combined minimum bids of $854,500.  The final auction total was $947,500. The property sold to 4 buyers. The buyer for the 969 acres, LAWMA water, & 160 parcel was a local operator who had been leasing the farm, adjoining landowner purchased the 35 acre river property, a local owner operator purchased the Lamar Canal Irrigation water, and a local purchased the rural acreage. 70 people attended the auction with 31 registered bidders. 79 days from signing of listing contract to closing.