Woods County Oklahoma – (June 24, 2022) The hammer dropped Tuesday evening shortly after 6 p.m. on five farms totaling 640 acres that were offered for sale in an online auction event.  Results of the auction prove strong values continue for agricultural land in rural areas of northwest Oklahoma despite marginal crop yields, higher input costs and rising interest rates.  Investing in agricultural land continues to be one of the safest places to park your money in times of inflation and economic uncertainty.

The auction was conducted through a team of professional auctioneers in what some might view as a high-end concierge service.  Bidders were allowed the ability to bid absentee through their computers, cell phones and iPads without having to attend the event.  One bidder competed from his cell phone while driving a tractor.  Some bidders were feeding cattle, others were in the comfort of their homes and offices actively competing for the winning bids. 

One winning bidder who purchased multiple farms, was initially reluctant to participate.  She expressed frustration at the onset of the event about learning a new process. Her comments after the auction was completed included “I hate to admit it, but I liked the way this online bidding works… it was a lot of fun and I really enjoyed it”.

By embracing the most up-to-date technology available, auctioneers are providing more efficient services to their clients and customers.  This technology is having noticeable effects on the farm and ranch sector, including the way that farmland is marketed at public auction.  It is also providing a larger buyer base of competing bidders on a national and international basis.

These farms were a mixture of cultivated cropland and native grass pasture ranging in size from 80 to 160 acres each.  Sales from the event produced total contract prices of $1,350,200 (an average of $2,110 per acre).  Participants included registered bidders from 11 states and international buyers from Australia.

Today’s top bidders are busy professionals that tend to have many obligations at sale time which may prevent their attendance and participation within the auction.  As the habits of buyers and sellers evolve, so must the auctioneer’s services change to accommodate their needs.  The professional auctioneers that performed this auction are noted as the largest fully-integrated real estate and auction company in the nation, as well as the Largest Seller of Land in the United States.

The auction event was performed as a co-marketing effort by Heritage Brokers & Auctioneers and Hunting Country Real Estate – proud partners of UC Ranch Properties (a division of United Country Real Estate).  These brokerages are led respectively by Shawn and Shane Terrel.  The Terrel brothers have collectively performed over 3,000 successful auctions, including live event, simulcast, and online-only events driven by the most up-to-date technology.  The Terrel brothers are also the founders and co-owners of the #1 Google ranked website MineralMarketing.Com, a national marketing platform for American oil & gas assets.

We thank all our bidders for participating in this auction event and appreciate the trust our sellers placed in us to market their family farms.

Respectfully,

Shawn and Shane Terrel