More than $6000 an acre at Cowra

Local sheep graziers Phil and Fiona Gay made the winning bid of $2.35 million bid for Preston Farm, Godfreys Creek.

Before the auction, agents had been offering price guidance in the range of $2.1m-$2.2m.

Preston Farm drew more than 30 bids from a field of five registered bidders and Flemings Property Services agent Richard Fleming said all but one of them, a vet keen to get into the farmland market, were also graziers from the district.

Mr Fleming said Preston Farm had plenty to offer buyers.

"It has a beautiful home, firstly, good arable country, very good infrastructure for the size of the property and most of all, it's good land," he said.

The 157ha (388 acre) property has undulating, red granite-based soils growing clover, rye grass, and lucerne.

The three-bedroom double-brick home features high ceilings and a modern kitchen and bathroom.

Farm infrastructure includes 11 dams, bore water feeding seven troughs, a two-stand shearing shed, silo, workshop, shedding and steel sheep yards.