Move over Iowa, there’s a new record farmland sale on the books. A piece of Missouri farmland underwent rapid-fire bidding, which racked the final price tag up to $34,800 per acre. The recent sale now beats out the previous record of $30,000 per acre in Iowa.
According to the bill of sale from Dyer and Fenner Auctioneers, the record sale happened last Thursday in Saline County, Mo. Two farmers got in a bidding war, and in just 15 minutes the 115 acres sold for $34,800 an acre, setting the new record.
The buyer wasn’t an investor. The winning bid came from a farmer by the name of Jeff Baxter from neighboring Carroll County, Mo. According to area farmers, the competing bidder was a farmer who’s home farm touches the land that was for sale.
Jim Rothermich of Iowa Appraisal says the bidding started at $15,000 an acre for the piece of ground that had been in the same family for four generations.
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