Listing agent Jim Barham said the outstanding opportunity presented a versatile and highly productive cropping property and had been in the one family for more than 100 years.

"There was quite a large attendance at the Wallaloo Golf Club for the property Kabinga," he said.

"The auction was conducted by Sean Simpson from the Elders' Ballarat office.

"At one stage there was five bidders which was narrowed down to two.

"It was knocked down again to Robert and Kate Cowan of Minyip for $6300 an acre."

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Being part of the real estate game in the district for almost 70 years, Mr Barham said in his lifetime he never thought property would ever be sold for such a price.

"It's great to see that people from the district are buying land within the area," he said.

"It is an excellent property and has been very well looked after and presented in good condition."