2008-08-14 23:48:03 -

- Approximately 570 acres of land formerly used for Maple Leaf Farms' Racine operations sold for $3,386,550 Wednesday night in an auction that attracted 115 registered bidders from four states.

"We're just as pleased as we can be with the outcome, which we believe achieved the best possible price for the property," said Scott Tucker, co-president of Maple Leaf

Farms, which retained Schrader Auction company to market the property and manage the auction. "The level of awareness was particularly impressive as a result of a very effective advertising and marketing campaign," Tucker added.

Bidders spent approximately an hour and a half bidding on the land, which was divided into 15 tracts, according to Gary Bailey, Schrader's agent in charge of the sale.

"We had a strong and diverse group of bidders that included farmers and developers, as well as individuals seeking sites on which to build homes for themselves," said Bailey. "There was a lot of excitement, with a crowd of about 300 people. They even applauded when it was over," said Bailey.

Much of the bidding consisted of competition between bidders for individual tracts and those seeking to purchase larger combinations of tracts.

"The land sold for an average price of $5,936 per acre, which we felt reflected strong demand for the land and the substantial interest in the auction itself," said Bailey. "We were able to see the interest building by watching the heavy traffic on the web page devoted to the sale. The site had almost 7,000 hits by Monday, prior to auction."

Upcoming Schrader auctions include an island and home on Sylvan Lake in Rome City, Ind.; three waterfront homes with 272 acres in Clayton, N.Y.; and land in Ohio, Illinois, Iowa, Indiana and Kentucky, including a 1,222-acre farm and 27,000 acres being sold in a three-day event.

Individuals interested in more information about those and other sales may call Schrader Auction at 800.451.2709 or visit the company's web site at www.schraderauction.com.

Schrader Auction Company is the nation's leading auctioneer of agricultural, recreational, development and other types of land throughout the United States. Maple Leaf Farms Inc. is America's leading provider of quality duck products, supplying retail and food service markets throughout the world with innovative, value-added foods.

For Schrader Auction Company:
Carl Carter, 205-823-3273