Apremium price of $1.6m was paid for a Sebastapol house and 91 acres of broad acre farming land at a Millicent auction on Friday afternoon.
The house came with yards and extensive shedding and the new local owners can use the land for either grazing or cropping purposes.
The vendor was local farmer Trevor Hutchesson whose late father Cliff had built the stone house in 1938.
The auction was held at the Millicent Football Netball Club and attended by dozens of interested people from the local farming communities.
The property was marketed by South East Property Sales and Management while the auctioneer was local agent John Chay.
Before the sale, Mr Chay had conducted eight inspections with local parties and four of them registered to bid at the auction.
The opening offer was $1m and bids from two parties in $100,000 increments quickly pushed the sum above the reserve price.
“The sale shows that demand for quality cropping and grazing land remains very strong,” Mr Chay said.