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Auction of land and producing mineral interests brings $6.24 million
Thursday's auction of land and producing mineral interests brought $6.24 million for the Mary and James Harrison Foundation. After multiple bids on the land and minerals individually and as a whole, one bidder emerged as the buyer of all the assets. Schrader Real Estate and Auction Company marketed the assets and conducted the auction.
The auction attracted more than 60 buyers, several of whom were bidding actively online. A crowd of well over 100 attended the event at The Springs Event Venue in Blanchard.
"The auction did what it is designed to do – sell the assets at a fair market value. The buyer and the foundation were both pleased," said Auction Manager Brent Wellings. "We had anticipated a good turnout, because it was a rare opportunity to acquire quality surface and mineral acreage like this in Grady, Garvin and McClain counties," he added.
R.D. Schrader, president of the auction company, said there was strong interest in both the land and the mineral rights. "Bidding got off to a quick start and kept up a brisk pace throughout the auction," he said. "The Mary and James Harrison Foundation funds a wide variety of causes, including scholarships, Christian mission organizations and relief organizations."
The assets included 18 mineral packages and a 237-acre Rush Creek Bottomland farm in Garvin County.