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Diamond Island Auction

G

Gold-Leaf-Deere

Member
Most of you have read the story of the John Deere 4010 that fell off a Island in the Ohio River several years ago. That island, about 1486 total acres with about 1030 tillable acres will be sold today at 6 PM. The local Coffee shop estimate is between 3 and 6 Million dollars. It has averaged 151 bu corn in 2009 and 2010 and 46 bu per acre of beans. The Island is at marker 820 on the Ohio River Navigation charts. I will be there as a spectator. Will post tomorrow the selling price. Any body got any Estimates?
 
I saw that 4010 a few years back at classic iron. Well with the way land prices are these days I would have to say Id agree with the coffee shop talk that every bit of three million. Does the sale include the barge to get the equipment ferried across? Just had close to 300 acres sell we use to farm that sold for an even million last year. My guess is some doctor will buy it. They seem to be buyin up all the land around here. Guess they feel thats the only solid investment anymore or something. That would be an interesting auction. I for the life of me cannot remember who farms diamond island.
 
The tow boat and the 22x70 foot barge goes with the Island, also a landing site on the Indiana river bank and a few acres with grain storage on high ground near Mount Vernon Indiana. The Island has been farmed the last 33 years by the Cummings brothers. The grain is hauled by truck on the ferry, It is a very interesting operation.
 
Iv heard that it is indeed very interesting. I just wonder what there insurance premiums most be takin equipment back and forth across the river like that. I live about 45 minutes East of Mt Vernon. Ive seen alot of pictures and heard a lot of stories but never actually seen it for myself.
 
Well, the middle of your range will be $4.5 million, that's only $3,028 / acre. If the barge, landing and bins is included, I think it would go for more.

Is it an island that floods regularly?? I'm not sure how they are in the Ohio River.
 
The Island floods at least every other year, as for Insurance, I am sure it is HIGH. It is quite a task to haul about 100,000 bushels of grain annually by truck on the ferry boat. I got to go now, will report back tonight.
 
It will probably go high if it is on the radar of some drug dealer or other criminal. From what I have seen here they like secluded areas like that.
 
Gold Leaf, here is the link. I have heard many a big stories about farming that island from your brother!
http://www.14news.com/story/16069233/highly-valued-farmland-for-sale-near-henderson-thursday
 
I am just back from the Auction, The Island sold for $4150 per total acre, this figures out to a total of $6,166,028.50. This also figures out to about $5985 per tillable acre. My answer to some of the questions, The U Moline was never used on the Island,, The sellers were the heirs of Very wealthy investor.
 
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