Indiana Farmland Auction Draws Crowd of 250, Resulting in $3.7 Million Sale

FAIRMOUNT, IN, Apr 22 (MARKET WIRE) --
Monday's auction of a 681-acre farm attracted a crowd of more than 250
people -- including 76 registered bidders -- resulting in a sale for a
total price of more than $3.7 million.

The outcome re-confirmed the recent strength in prices of quality
farmland, according to Rex Schrader, president of Schrader Real Estate &
Auction Company. "The price per acre definitely indicated that farmland
prices are higher than in the fall of 2009. Demand is strong, and the
number of farms on the market remains at record lows," said Schrader.

The local bidders dominated the early bidding, which reached a total of
$3,067,000 on 15 individual tracts. After larger bidders began making
offers on combinations, the final total came to $3,717,000.

"Almost all of the cropland went for $5,607 per acre to one investor who
had searched diligently for a farmland investment that met his
requirements," said Schrader. "We had spirited competition between this
buyer and several local bidders. The result underscores the strength of
the market and the quality of the land, which had been in one family for
three generations," he said.

In addition to the large cropland sale, there were six other successful
buyers for homesteads, woodland, and a cell tower. The main homestead
last occupied by Lloyd Campbell sold for $250,000 to a local family, and
the cell tower sold for $100,000 to an out-of-state investor.

The land was owned by the Lloyd and Charlotte Campbell Trust. Campbell,
who died in November 2009, had been very active in selling feeders and
buying fat cattle from many area cattlemen while working many years for
the Emge Packing Company. Three of his four sons were able to attend the
auction, traveling from their respective homes in Tennessee and
California.

Schrader Real Estate & Auction Company is the nation's leading auctioneer
specializing in the sale of farmland, timberland, commercial property and
other types of real estate throughout the United States. Individuals
seeking auction information on upcoming sales may contact the company at
800-451-2709 or visit www.schraderauction.com.

For more information:

Carl Carter
205 823-3273

Lindsay Fernandes
205 909-3705

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