More than 600 acres of development land in Selma recently sold for $2.1 million at an auction conducted by Gadsden’s J.P. King Auction Co.

The auction attracted 55 registered bidders from as far away as Ohio and New Hampshire.

More than 50 parcels of land went for $1,500 to $12,000 an acre in the auction that lasted three hours, according to a news release.

“It’s also encouraging to see 55 bidders line up to bid when all we can hear is bad news about the real estate market,” said Craig King, president of J.P. King. “Obviously, the right kinds of properties - marketed effectively - can still be sold.”

Posted: 01|12|08 at 11:22 am. Filed under: US News.