MELFORT, SK, April 5, 2012 /CNW/ - Hodgins Auctioneers (HA:TSXV) (the "Corporation") is pleased to announce the results of the Corporation's first land auction for Spring 2012. The auction was conducted on Saturday March 31st in Penhold, Alberta. Approximately 200 persons attended the live auction where 743 acres of farmland and three acreages were offered for sale by Public Auction.
Using a computerized Multi-Parcel Auction Method, participants were able to place bids on numerous combinations of the subject parcels. At the end of 3 hours of bidding, a total of 7 different buyers purchased the properties for an aggregate price of $2,324,500. The bare farmland averaged $2,544 per acre.
Barrie Jung, President of Hodgins Auctioneers stated; "The confidence in agriculture was evident at this land auction, with a strong demand for farmland demonstrated through keen, competitive bidding. Once again, the Multi-Parcel Method of Sale employed by our firm enabled individual parcel bidders to compete against bulk or block purchasers. The end result was absolute Fair Market Value."
ABOUT HODGINS AUCTIONEERS INC.
Headquartered in Melfort, Saskatchewan for more than fifty years, Hodgins is a provider of professional auction services and is renowned for its experienced auctioneers, award-winning promotions, dependable results and commitment to providing the ultimate marketplace for the sale of assets by auction.
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