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Star (Christchurch), Issue 11511, 6 October 1915, Page 6

In support of a contention that the prices obtained at auction sales of land do not usually represent the actual value of the land, a witness in a compensation ease this afternoon stated that he knew a man who had attended the auction sale of the lease of an area of land and had obtained it for £450 a, year, when he was quite prepared to go a,s high as £IOOO a year. The, man was a keen sheep-farmer, with good business ability, and knew that tho value of the land was easily £IOOO a year, but he eagerly snapped it up when he was able to obtain it for less than half that amount. Thai was only one ease, but ho kipjw of others of a similar nature*