LOVINGSTON, VA -- (Marketwire) -- 10/27/10 -- Three farms spanning 2,406 acres in Virginia's Nelson and Amherst counties sold for $7.68 million Tuesday as bidders and spectators packed the Nelson Center in Lovingston for the auction of Black Eagle Farms.
The farms, offered in 34 parcels, sold to 14 buyers after a lively bidding contest, according to Jim Woltz, president of Woltz & Associates, which conducted the auction.
"Most of the demand was from bidders from the immediate area, who are in the best position to fully appreciate the value of the properties," said Woltz. "Although many bidders were from out of state, the competition was most fierce between bidders in the immediate area. The property was located in an excellent area between Charlottesville and Lynchberg. The competition was vigorous, with some 90 registered bidders competing for the land, and the bidding continued for more than three hours," he said.
The properties sold included waterfront land on the Tye and Piney rivers, pasture and cropland, recreational and hunting land, and nine homes. Also included were facilities for poultry and cattle.
"Given the diversity of properties included in this, we expected that we would have a number of different buyers, and that's exactly what we got. The strong turnout reflected the quality of the farms and, hopefully, some underlying strength in the area's economy," said Woltz.
Woltz & Associates is a leading auctioneer of resorts, land, commercial properties and other high-value real estate throughout the United States. Upcoming events for Woltz include 433 acres in Mecklenberg County, Va. (Oct.30), 29 Investment Properties in Blacksburg, VA (Nov. 4) and 1,688 acres in Surry County, including land directly across the river from the Jamestown colony (Nov. 15). Individuals seeking additional information on those and other auctions may visit www.woltz.com or call 800-551-3588.
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For more information:
Carl Carter
(205) 823-3273
Lindsay Fernandes
(205) 909-3705