It has been announced that half of the cattle auctioned off at this week's dispersal sale of the Peter Kingston Cradenhill sale have fallen through.
Auctioneers Denis Barrett has admitted that while more than 1,000 cows and calves were sold at Tuesday's sale in Cork, around half will be put back on the market after two purchasers have failed to pay for the stock.
This weeks Peter Kingston, who farms at Novohal in Kinsale, was forced to sell his 950-pedigree cow herd after ACC Loan Management obtained judgment against him for loans of almost €2.5m against him.
However, it has now emerged that two bidders, who bought approximately half the cattle, have not paid for the stock.
In a statement, Denis Barrett said it is “with regret that approximately 500 animals that were bid upon at a pedigree herd auction, held earlier this week at a farm in Nohoval, Kinsale Co Cork, must now be resold due to a failure to receive payment.
“A significant number of animals, many of which were expected to achieve the highest prices on the day, were bid upon by two parties who have failed to comply with the terms and conditions in relation to payment.
“It is with regret, added expense and frustration that the sales agent must now proceed with an online tender process for the resale of the animals when legitimate bidders lost out on the opportunity to acquire the animals in question at the auction.”
On the day, the sale saw protestors from the New Land League, led by Jerry Beades, who siad that the actions of Co. Cork sheriff Sinead McNamara should be investigated as costs of €1.5m had been run up to date.
The dairy farm is well known, top pedigree cattle, high production and excellent show-winning type according to the auctioneers.
The Cradenhill herd was over 26 EX cows, 113 VG and 175 G+ cows, from the world’s top cow families.
Interest in the sale was expected to extend beyond Ireland and on the day a number of Northern Ireland and UK-based buyers were active.
A UK-based auctioneer has been appointed and the sale will be broadcast live online to allow live bidding from abroad. All the animals were tested for immediate export.
The Kingstons came to prominence after they appeared and subsequently won, Ireland’s Fittest Family two years ago.