Rayonier Land Auction Brings $2.467 Million on First Day

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Rayonier, Jacksonville, Fla., USA, reports that the first day of its 6,200-acre land auction this past week drew a capacity crowd to Waycross' Exchange Club Center (Waycross, Ga.), with 80 registered bidders competing for land that ultimately sold for $2,467,300. In all, 16 bidders emerged as successful buyers in the sale, which attracted hunters, investors, and others seeking the Rayonier woodland. The land sold for $1,722 per acre on average.

The auction continued this past Saturday in Dublin, Ga., with the final 50 tracts available in Telfair, Laurens, Coffee, Irwin, Dodge, Pulaski, and Wilcox counties. The auction reversed a general policy or practice by Rayonier to not sell its woodlands in the area to neighbors, hunting clubs, and individuals—at least not in small tracts.