The Public Examination of a Land Auction
Posted on November 7, 2018 | by Andrew Wilson
- In the Heartland, agriculture drives a considerable piece of the economy. In many communities, it drives every part of the economy. When it comes to farmland, you can bet that all eyes are watching. Every auction and every sale garners a lot of attention. As soon as the leaves begin their transition into rich, fall colors, you’ll begin hearing conversations everywhere you turn: the coffee shop, eatery, tavern, and even at church. The topic? Farmland.
Anticipation and excitement has been building for years. Nearly each land auction has brought news of a new record price for farmland in a particular area or side of town. Each passing sale yielded more and more buzz and discussion regarding how high the market and land values would climb.
More recently, the questions have revolved around concern that the market may be slipping.
Our team is asked daily about the value of farmland, our opinions on recent farmland sales, or what we think about the health and the future of the market. In some ways it feels almost like a public interview, where we are able to gauge the market and provide our feedback on the current farmland climate.
At Wilson, we cherish this role and take it very seriously. You’ll find no fluff from us; we convey real statistics to mold our answers and opinions on these pressing questions. We often refer to the Purdue Agriculture Economics Study of Farmland Values, which we take part in annually. You’ll also hear us dissecting a particular sale to explain the results in more detail.
Why? We care about providing accurate and realistic information to our community.
One thing is certain: people will continue to talk about every land auction that passes. People will discuss leading up to the auction, guessing what the farm will sell for. On the day of the auction, talk will continue, along with small wagers around the gathering tables and promises of a free cup of coffee to the person who guesses the final sales price. People will talk.
Everyone wants to know the results; lenders, attorneys, appraisers, farmers, land owners—you name it—all interested in how the market is reacting in certain area.
As long as people are wondering, we’ll be here to provide trustworthy, statistical-driven information to all those interested in our local farmland.
If you have any questions about farmland sales in your area, please give us a call at 812-682-4000 or email us at [email protected].
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