Peter Milling and Company auctioneer Danny Tink leads the auction of the 'Ringaroo' property. Footage Ciara Bastow
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00:00Gentlemen, I'd like to welcome you all here this morning for a very historic morning of the public auction of Ring of Ruth.
00:07Ladies and gentlemen, my name is Denny Tink. I'll be your auctioneer here this morning on behalf of the Curtin Milling Company.
00:12I'd like to take the opportunity to thank the vendors, the trustees of the W&G, Lionel Estate, who represent here today.
00:19And particularly Curtin Dwyer has been kept very busy with inspections and inquiries on this property over the last marketing campaign.
00:27Well, a bit of history today, I guess. Not often you get up and see a property that's been in an estate for over 90 odd years.
00:34And in fact, the W&G Lionel Estate has now just clicked over 96 years.
00:39One of the longest running, well it's not confirmation on that, but one of the longest running estates in Australia.
00:44And this property has been held in the one family since the late 1800s, I think 126 years I was told this morning.
00:51So, today's a great chance to purchase, if you're here today, a piece of history and Australian history here today.
00:58Today we're fishing Ring of Ruth, off at 9km only south of Wellington, fronting that Mitchell Highway.
01:04675 acres will tick over of red basalt cropping country to lightly timbered hillier grazing country.
01:12There's 368 is approximately available with good steams and worse than throughout.
01:17It's got a very well spring fed creek running through it, which if you set it up the way you want to provide you a very good water set up going over the property.
01:25It obviously includes the older Federation home, which like we talked about a minute ago, will enable a building type to be put on there as well.
01:33A great opportunity to purchase a very productive land just on the outskirts of Wellington.
01:39And again, offered the first time in over 100 years.
01:42It's a great opportunity here today, if you've had an interest and you're waiting for this, it's now on our doorstep.
01:48Well, ladies and gentlemen, you've heard enough about the property and now we'll get down to the business part of it.
01:52We'd like to offer Ring of Ruth a public auction here today.
01:56The auction for Ring of Ruth, and again, it's been well documented and it's certainly been well sought after.
02:02We're just asking for an open bidder offer to get me away today.
02:06An open bidder offer.
02:081.2
02:09Thank you for your offer. It's just a little bit lower from where we need to be.
02:13We just need to be a little bit higher.
02:15Can I suggest a price of about 1.8 million?
02:181.8
02:201.7
02:221.7 million to start me today.
02:241.7
02:26Happy for an advance, we just couldn't come down that far.
02:29Say 1.7 to start.
02:311.7
02:331,650,000 to get me away.
02:361,650
02:381,650,000
02:41Bidder number one.
02:42Bidder number one for $1,650,000.
02:45I'll bid $1,650,000.
02:47Bidder number one in the room, direct to me.
02:49$1,650,000.
02:53Bidder number one.
02:54A great opportunity here today, ladies and gentlemen.
02:56If you come to buy a very good parcel of land, here it is on your doorstep here today.
03:009th of Ollingston.
03:01A great opportunity.
03:03Been held in that family for over 100 years.
03:05I'll bid $1,650,000 here on the floor.
03:08I'll bid $1,650,000.
03:11I'll tell you what, I'll take a $25,000 rise if anyone wants to roll through.
03:15I'll bid $1,650,000 here.
03:18$1,650,000.
03:21The bidder's in the front here.
03:23I'll bid $1,650,000.
03:26Again, happy for any advancement from here.
03:28And the bidder's going to raise your hand and tell me.
03:30I'll bid $1,650,000.
03:34Held here, right in the front.
03:36$1,650,000.
03:39Great opportunity.
03:40I know bidders have good interest in this property.
03:43I'll bid $1,650,000.
03:46I'll have to wait a while for it to come around and here's your chance now.
03:49I'll bid $1,650,000.
03:51Might have to wait another six years.
03:53Possibly, yes, that's right.
03:54$1,650,000.
03:57I'll bid $1,650,000 here.
04:00Held here, right in the front.
04:02$1,650,000.
04:05Again, just looking for an advancement from here.
04:08I want probably, don't need to remind you,
04:10but the best terms and conditions of buying a property is under option terms and conditions.
04:14You know exactly where you stand.
04:16I'll bid $1,650,000.
04:19$1,650,000.
04:22$1,650,000.
04:26Well, ladies and gentlemen, if I can't see another advancement on that,
04:28we're just going to break for a second while we get some instructions from our vendor.
04:31Thank you, ladies and gentlemen, for your patience there.
04:34We've just received our instructions from the vendors here today
04:36and the property is on the market at $1,650,000.
04:40The bid is right here.
04:41I've been asked to try a little bit harder
04:42and I'm happy to take a $10,000 rise to keep the play going.
04:46But it is on the market.
04:47You're playing for keeps here.
04:49I'll bid $1,650,000 here for the gentleman in the front row.
04:52I'll bid $1,650,000.
04:55$1,650,000.
04:57Like I said, I'll take a $10,000 rise if needed.
05:01It's your day, your opportunity.
05:03Like I said, we might be waiting another 90 years for this to happen
05:06but it's going to be $1,650,000 bid here.
05:10$1,650,000.
05:13Property is now on the market.
05:15And like I said, you're playing for keeps.
05:17No better position than under the auction term conditions.
05:20You know exactly where to stand.
05:21I currently hold the bid right here at the front row.
05:24I'll bid $1,650,000.
05:27$1,650,000.
05:31No interest out there?
05:34$10,000 out there? No.
05:38$1,650,000.
05:41Well, ladies and gentlemen, we're just going to clarify
05:43it's definitely right to be knocked down
05:45and I'll come straight back to you.
05:48The same sell.
05:50Property is on the market. You've seen the nod.
05:52The property is on the market.
05:53You're playing for keeps.
05:55I'll bid $1,650,000 once.
06:00$1,650,000 to Ringaroo for the second time.
06:06Third and final call at $1,650,000.
06:11For the third and final call, Ringaroo, here's the opportunity.
06:15Anyone else?
06:16Bid in.
06:18Congratulations.