7 June 2002

Auctions are the rule

AUCTIONS are still the favoured method for farm disposals in Ireland, according to Raymond Potterton whose firm of the same name in Navan, Co Meith, sells between 70-80 farms a year.

"Public sales are the accepted system here. I would say 85% of straight farmland sold is by auction."

Mr Potterton says that Irish farmers detest the private treaty method commonly used in the UK. "People are suspicious. Buyers like to know what is happening and the certainty appeals to the vendor"

He sees no reason why the trend will stop. "There is no desire for change, particularly as the market is reasonably strong at the moment." His next auction will be on June 25 when 180 acres of land suitable for arable or stock (but non IACS-registered) will go under the hammer.

Corbets Farm at Castle Jordan, Co Offley, includes a house in need of renovation and is guided at in excess of k1.25m (£787,000). &#42