A Missouri farmland auction broke the previous record set in Iowa as 115 acres of land sold for a record amount. The Missouri farmland sale smashed the previous record of $30,000 an acre set in Iowa.
The bill of sale from Dyer and Fenner Auctioneers said the record sale happened last week in Saline County, Missouri. Two farmers got into a bidding war, and, in only 15 minutes, the 115 acres set the new record at $34,800 per acre. The buyer wasn’t an investor. The winning bid came from a farmer named Jeff Baxter from neighboring Carroll County, Missouri. Area farmers say the competing bidder was a farmer whose home farm touches the land that was up for sale.
Reports say the bidding started at $15,000 an acre for the piece of ground that’s been in the same family for four generations, and the bids climbed very fast.