The Hancock-Henderson Quill, Inc.
Greetings to everyone in Western Illinois.
Has everyone been enjoy'n the full moon and nicely lit nights with the moon rays shine'n off the snow?
It is good to enjoy those events even though it is bit cold. Dressed properly and with no wind, it was again a pleasure to enjoy more of God's creation.
Most of you'ns by now, have heard about or attended the land auction held up north in Henderson County, farmland Gladstone Township, owned by Louisa M. Kannberg.
Four tracts were sold totaling 270.45 acres. Average price of all the acres was $7,950.64 per acre with the two highest tracts selling for $8,850 per acre and $8,750 per acre. Two other tracts sold for $7,600 and $7,150 per acre.
The bidd'n started way higher than most folk would like to have finished bidd'n, but such is the way of land sales these days.
I can remember, not too many years ago it seems, when farmers would argue about $475 per acre sale price of land being $25 per acre too high to pay, and nobody could make that work! And in my youth the argument was about $275 per acre being too high priced for land to enable it to pay for itself.
Most land auctions end with one feller have'n topped the bid and the rest of the crowd think'n that crazy fool paid too much. In a few years that same crowd is accuse'n that same successful bidder of "steal'n" the land.
That's one of the purposes of an auction, it seems, is to seperate the weak knee'd from the bold determined risk-taker who had been wait'n a spell or two, dream'n of own'n that particular tract of land.
Maybe the risky purchase was be'n made to make room for a family member want'n to return to the farm.
Maybe now-a-days the bidder and ultimate successful purchaser of the land feels they will receive a better safer return, take'n into account inflation, than with other investment alternatives.
Whatever the situation, it is enterest'n watch'n bidders fidget when the auctioneer stops on them. For that singular nervous moment, they own the land in their mind's eye.
They quickly break into a cold sweat and their tongue sinks deep down into the very agitated pits of their stomach as they begin to hyperventilate.
Emmediately they wonder if'n they've done the right thing, especially if'n the bid is higher than they planned to go.
I have even seen a time or two, after someone topped the bidder, a look of relief appear on the red worried face of the previous bid holder.
Some folk stop at that point.
A recess often times refreshes the memory of why that person started the bidd'n process in the first place.
Time is allowed to settle the nerves and stomach of the bidders and for them to attack the problem anew when the auctioneer starts in again.
I remember one land auction recess where a father turned to his two sons sitt'n behind him and inquired, "I wonder what blamed fool is hold'n that bid!
The boys winked at their dad and softly replied, "Why you do dad-we put the bid in for ya!"
The father about fell off his chair. After the recess, no one raised the bid and the father bought the land. He stewed all the way home.
The father is now deceased. The sons are mighty glad the good flat land purchased at $3,800 per acre back then would now sell for over $8,000 per acre.
There seems to be two basic kinds of bidders. The quick aggressive type and the slow patient type.
The quick aggressive type bidder often trys to let everyone know he wants to own the land and the other feller is only run'n the bid up on him.
He hopes his quick response in some way may intimidate others to bow out of the process. Why run up the price and cause hard feel'ns?
The slow patient bidder plays on his competition's nerves.
Just about the time his competition thinks he has won the race he throws in a bid.
Sometimes he'll allow the auctioneer to call out 2 of the 3 calls for knock'n off the bid and then throw in his higher bid.
His hopes are a time or two of that process and the nervous nellys, with their upset stomachs, freshly loaded with a tongue, will bow out.
Some fellers won't even start their bidd'n until the second or third recess. There again hope'n a fresh new bid will intimidate the worn out competition, who by now has a good fix on an ulcer.
It seems at land auctions these days there are basically two kinds of attendees.
One kind is the spectator who is there to while the day away or have fresh ammunition for coffee shop talk.
Some spectators are simply gett'n a re-evaluation on the land for their bankers financial statement.
The second kind is the sincere person want'n to buy the land.
This also can be broken into at least two categories, one is the local bidder and the other is some feller with a 1031 exchange investor from outside the community to buy the land and he'll farm it for him.
Capital is the lifeblood of our rural communities. Land is the basis for that capital.
When someone outside the community buys the land, one half the lifeblood of that land goes into some other community.
Many times the new landowner winds up with a tenant from way outside the community. Now all the lifeblood from that land leaves the community.
Lost from that community is its most basic asset, the earning power of the land.
That lost asset in the form of earning power is capital that no longer provides income to the very infrastructure of that local community.
That infrastructure can include churches, implement stores, small town shops and grocery stores, service clubs, banks, etc. etc. and all the local events they contribute to with their profits to make that community special.
Well, the good thing is it appears, the farm sold up north in Gladstone township was purchased by a local feller and his son.
The boys and I sez congratulations and our hats are off to you'ns for help'n to preserve your community.
This comment is not intended to take sides towards any kind of bidder nor wish'n them ill will.
It simply sez now that the sale is over and you have arrived victorious in your efforts.
There is good for our community to possibly come of it. Who can fault a father and son strive'n to attain their dream and hold their family together? Best wishes are extended on your behalf!
All other judgments are sincerely withheld for all of the other bidders.
Keep on Smile'n
Catch ya later