THE first Single Payment entitlements sold as part of a farm sale in the region have gone under the hammer.

Tom Oates, auctioneer for George F White, said that, as they had never been sold on the open market, no-one was sure how much they would make.

However the SDA entitlements went for £260 a hectare and the moorland entitlements at £40/ha.

Mr Oates said: "The entitlements sold to a multiplier of 1.6 times their annual value, which is in line with what little trading there has been.

"There was an enormous amount of interest in how much they would sell for, and it was clear also that there was a lack of understanding from the industry about the trade and valuation of a commodity which is of huge value to farmers today."

In a busy week, George F White handled four auctions in three days - three farm livestock sales in the Durham Dales and the sale of a redundant farm steading near Bardon Mill, Northumberland, which went for £170,000, 48pc more than the guide price.

Other top prices included £1,800 for pedigree Limousin cattle and £2,400 for an Ifor Williams 10ft cattle trailer at Hinedon Intake, Woodland, near Bishop Auckland; £1,000 for dairy cows at Roddymoor Farm, Crook; and £540 for a Blue-faced Leicester tup and £440 for BFL ewes at Pallet Crag Farm, Eggleston, Teesdale.

All attracted huge interest and Mr Oates said there were three main reasons. "There have been very few farm sales in the Durham Dales in recent years; secondly, the concentration of three sales in such a short period created a major interest from purchasers, and last, by introducing an evening sale many vendors were able to attend after work."