Ritchie brothers land rent auction

[seabass]

Too funny iceman. Have the same folk here and they pay ridiculous prices just so there bretheren don't scoop them after church.

[farmaholic]

Iceman.... they were up 3.35% today. "Business" must be good!

[sawfly1]

ok my comment about it being cheap
i guess i misread or misunderstood, that it was 50$/acre/ year.
149 a year is a lot

[iceman]

Iceman.... they were up 3.35% today. "Business" must be good!

Don't read too much into the usual per quarter run up. It's a lot like a "dime" coming up to talk to you only to find out later she wants to sell you a timeshare. Looks good but always seems to leave you going home alone with hat in hand. No pun intended.

It's in a rut and needs a big event to move it. The sign up number could do it. But they always pre sell early so of course they would've missed the latest run up. What about a bunch of their canola sitting in bags very tough? The empty suits in Toronto won't clue into this so maybe there is a short term trade here. Then we will have another round of farm foreclosures happening in one of these quarters

Iceman out but still in

[iceman]

ok my comment about it being cheap
i guess i misread or misunderstood, that it was 50$/acre/ year.
149 a year is a lot

Ya shit don't make sense anymore!

Any of it!


Iceman out

[Ache4Acres]

Odd....I am betting that the buyer did not realize it was being sold per year. Seems priced about right for the 3yrs.

There is nobody getting 7% return on farmland cash rent that I know of in Sask.

[binthere]

oh they know how much their paying. you can bet on it. eliminate the competition. short term pain for long term gain. then boom rent for taxes.

[farmaholic]

This thread is no different than "coffee shop gossip". First of all, I am still having a hard time beleiving someone would pat $150/acre/year. Secondly, my ROI comment is based on pure assumption---I have no idea what that land is worth.

Maybe I need to make a call to the RB Auction territory manager/rep for that area to clear things up.

Interesting none-the-less.

[furrowtickler]

Binthere is correct it has become an obsession in many areas, economics has long become a side bar.
Same with purchasing land in some cases. In others it's just sad to see how manipulative they can be, especially with old people.

[SASKFARMER3]

That seems high in our area to the south it is up to 100 plus. But then their is a huge parcel that no one is willing to take for that kind of money just south and West of me for that kind of cash.