A DECISION to sell water in an online auction system has paid dividends for both buyers and sellers.
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Traditionally an open cry auction system is held in conjunction with the Riverina Field Days at Griffith.
However, this year things were different due to coronavirus restrictions.
Wilks Water principal, Tom Wilks of Wagga said moving to an online system attracted around 50 registered buyers.
"Buyers were able to get what they needed ... there was a bit each way (buyers and sellers)," he said.
It was the eighth annual water auction and Mr Wilks said it exceeded expectations.
The buyers competed for 130 lots which were offered and the total volume was 23,400ML.
Mr Wilks said Murrumbidgee Valley temporary was good buying, with prices topping at $250/ML down to $205/ML for smaller parcels.
Murrumbidgee High Security Water Entitlements were slightly cheaper and sold for $7500/ML (post auction) with general security selling from $1900 to $1925/ML, slightly higher than recent sales.
- Tom Wilks
He said there were also some good signs for the industry with an early autumn break and more rain forecast to arrive.
"Murrumbidgee High Security Water Entitlements were slightly cheaper and sold for $7500/ML (post auction) with general security selling from $1900 to $1925/ML, slightly higher than recent sales," Mr Wilks said.
Victorian Low Reliability Water Entitlements were sold at $550/ML and temporary Lower Murrumbidgee Groundwater in Zone 1 reached $220/ML.
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