The Combine Forum banner
1 - 6 of 6 Posts

·
Registered
Joined
·
4,919 Posts
Discussion Starter · #1 ·
80+/- acres with an 83 CSR, well drained, gently rolling, soybeans last year 69 bpa average, above average farm for area.

No sale today at $10,000/acre or $120.48/csr point by Hertz Farm Management.

First Hertz sale I have been to, and always heard rumors about them. Was very disappointed in how this sale was conducted. Bidding started at $9000 and only one person in the room bid twice. Other bids were "on the phone" (skeptical because I was standing between 2 of the "on the phone" ring men and neither of them ever spoke) or out of the air when ring men magically pull a bid that no one else ever sees. I have been to more than my share of auctions and also ringed a few so I know how to catch bids.

Hertz also has a reputation of telling the sellers you can get x dollars, and when the farm doesn't sell for that they tell the family that woops guess not, but one of our buyers will give you y dollars for it. This is so they can keep it under their management control.

Was very unimpressed and disappointed in a company that large playing games like this. I guess maybe I have come to expect to much out of auctioneers. (They aren't all that bad.)
 

·
Registered
Joined
·
4,919 Posts
Discussion Starter · #3 ·
Sold right in line with others farms in then area have sold for in the last 60 days. Current renter said it was offered to him at $11,500/acre. My guess is that was the reserve. Current renter was the one bidding at the sale.
 

·
Premium Member
Joined
·
5,233 Posts
I hear you on the games that sometimes occur with some auctioneers and nothing is funnier than when they get caught pulling bids out of their ass.

I couldn't find the actual parcel you referred to in your post, but the ones on their site I did look at, it was clearly stated seller had the right to refuse final bid, was that not the case with this particular one? Its a marketing practice to not disclose the reserve price, so its not like they were trying to do any funny business from what you have said or that I read.

Not saying its the way to do things, but it happens every day, even in this part of the world;)
 

·
Registered
Joined
·
4,919 Posts
Discussion Starter · #5 ·
It would be a tama county land sale in the website. I fully assume that there was disclosure on right of refusal as that is pretty common. Not saying that it was a screw job or anything, just rather have it all upfront instead of the backdoor crap. Any good auctioneer of realtor would not and should not ever disclose the reserve price.
 
1 - 6 of 6 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top