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Louisiana Timberland in Vernon and Beauregard Parish attracted a crowd of 350 people including 131 registered buyers. The final sale price of $3,200,700 exceeded pre sale estimates by 30%.
The Market was driven by lots of individual bidders for tracts competing against the larger buyers on entire properties. That is what makes our M3 auction system work so well. There were 28 successful buyers absorbing the 63 tracts represented in the five (5) timberland properties scattered from Leesville to Merryville. Some of the buying activity and push in price was the influence the Hurricanes were having on coastal residences seeking safer inland areas.
The timberland was primarily loblolly pine varying from 2-year to 22-year old growth.
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