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Good Bidding Results Reflect Good Markets

Despite ongoing industry challenges, we continue to see excellent prices for quality hardwoods when selling through our bidding process. Below are several examples of actual bid results for a variety of sale conditions and locations. These examples illustrate the advantages of a competitive timber sale bid. 

A recent timber sale (“Timber Sale A”) in western Pennsylvania produced the following results of a thinning harvest on approximately 22 acres. The predominant species in this sale included white oak, black oak, red maple, and red oak. FORECON cruised and marked this thinning, and the result was a sale of approximately 53,000 board feet (Doyle Log Rule) in total. A bid prospectus containing a list of the tree-count and volumes-by-species, along with terms of the sale and sale maps, was mailed out to prospective bidders. The results were as follows:

TSA

There were 6 bidders responding to this sale, with the high bid 1.96 times the low bid, and with 3 bids below the average and 3 above.  The top two bids were very close, while the lowest bid was nearly half of the winning bid. This illustrates the confidence that local buyers place in our process, and also highlights the benefits of our competitive bid approach.


Another recent timber sale (“Timber Sale B”) in western New York produced the following results of a thinning harvest on approximately 71 acres. The predominant species in this sale included red oak, sugar maple, and white ash. FORECON cruised and marked this thinning, and the result was a sale of approximately 420,000 board feet (Doyle Log Rule) in total. A bid prospectus containing a list of the tree-count and volumes-by-species, along with terms of the sale and sale maps, was mailed out to prospective bidders.  The results were as follows:
 

TSB

This sale also had 6 bidders respond. The high bid was 2.03 times the low bid, and with 3 bids below the average and 3 above. In the case of this sale, the top bid differed substantially from the next-highest bid. And, the lowest bid was a little less than half the amount of the winning bid. This illustrates the confidence that local buyers place in our process, and again also highlights the benefits of our competitive bid approach.


Yet another recent timber sale (“Timber Sale C”) in western New York produced the following results of a thinning harvest on approximately 45 acres.  The predominant species in this sale included sugar maple, black cherry, and red maple. FORECON cruised and marked this thinning, and the result was a sale of approximately 57,000 board feet (Doyle Log Rule) in total.  A bid prospectus containing a list of the tree-count and volumes-by-species, along with terms of the sale and sale maps, was mailed out to prospective bidders.  The results were as follows:

TSC

In this case, 3 bidders responded. The high bid was 1.41 times the low bid, and with 2 bids below the average and 1 above. For this sale, the top bid differed substantially from the next-highest bid. And, the lowest two bids were very close, again highlighting the benefit of using FORECON for timber sale preparation and marketing.


Lastly, the final recent timber sale (“Timber Sale D”) in northwestern Pennsylvania produced the following results of a forest renewal harvest on approximately 72 acres. The predominant species in this sale included red maple, sugar maple, and black cherry. FORECON cruised and marked this renewal harvest, and the result was a sale of approximately 552,000 board feet (Doyle Log Rule) in total.  A bid prospectus containing a list of the tree-count and volumes-by-species, along with terms of the sale and sale maps, was mailed out to prospective bidders.  The results were as follows:

TSD

This sale received 8 bids. The high bid was 1.89 times the low bid, and with 4 bids below the average and 4 above. In the case of this sale, the top two bids were fairly close. And, the lowest two bids were also close. This level of participation further confirms the confidence that local buyers place in our process, and further highlights the benefits of our competitive bid approach.

While these are just four recent timber examples of timber sales we’ve done for landowners like you, we routinely conduct 100 such sales per year across our five regional offices. Please keep in mind that results depend on a variety of circumstances; quality and species of timber, access conditions, and prospectus terms are just some of them.  The timber markets in our region remain very active and we will continue to bring more insight into bidding results in subsequent posts.

When you’re ready to sell some of your valuable timber, and want a long-standing professional forestry firm to represent your best interests, please call FORECON’s headquarters office at 716-664-5602. Our foresters would be very happy to speak with you about the markets, and more importantly, your goals and objectives for your land. Please understand that, despite these very busy times, we will do our best to accommodate your needs as soon as we can.  As always, thanks for your business! 

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