A farm family has farewelled their lush South Gippsland grazing block after more than a century of ownership.
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Agents negotiated with unsuccessful bidders after Friday afternoon's auction to secure the deal.
More than 50 people piled into Kernot Hall, just a few minutes from the farm, to watch the action as two bidders chased a prime piece of rural real estate on the Bass Coast.
On offer was the high rainfall block with Bass River frontage taking in 122 hectares (301 acres) of some of the most high priced farming land in Australia.
Agents from Elders Real Estate said the property sold after being passed in at the auction for an undisclosed amount.
![Bass Coast farm sells after the Friday auction. Pictures and video from Elders Real Estate. Bass Coast farm sells after the Friday auction. Pictures and video from Elders Real Estate.](/images/transform/v1/crop/frm/39XqhrgY6riNnQBs6VEtc8R/52a832b3-e820-4d05-af65-9dcf8291b474.jpg/r0_69_1838_1303_w1200_h678_fmax.jpg)
Farm sales can reach $30,000 per acre in this part of the world.
Selling agent Don Olden said the farm sale was - "all in all a successful outcome for both parties".
Riverview, located at Kernot and inland from Grantville overlooking Westernport Bay, presented a rare opportunity to buy into the area.
The farm enjoys a reliable annual average rainfall of around 1000mm and was said to be ideally suited to cattle fattening or breeding.
Agents said Riverview was "renowned" for its steer fattening ability.
Only an hour distant from Melbourne, the lifestyle possibilities of the block were highlighted during the marketing campaign.
The farm block has river views and many possible home sites although its historic cottage was deemed unliveable.
The undulating land and sheltered river flats have a long frontage to the Bass River.
About 28-30ha of the farm has been retained as native bush and trees.
Farm improvements include heavy duty stockyards and lock up machinery sheds.
A private quarry has been used to gravel tracks.
Numerous dams are dotted across the block for stock water.