$150m if you value them commercially with no added value. Landcorp.
$170m if they have the added value of including farms next door to established blocks already owned, especially if some of them are ancestral blocks. Kiwi landowners including Maori bid.
$200m + if you are trying to establish the principle that foreigners are able to buy any farms they choose to here. Pengxin bid.
I can understand why the receiver wants the highest bid.
But it is the government’s duty to ensure we don’t become tenants in our own country.