Editor’s note: Since this article was first published, it has been confirmed that Walgett (NSW) grain grower and Wagyu cattle producer Charlie Pye was the purchaser of Kerriki and Number One after being the losing bidder on Three Pines. He also acquired about 500 cows and semen as part of the herd dispersals outlined below.
The first stage of the Erasmus family’s Gateway Wagyu enterprise dispersal has been completed, with three mid-North Coast grazing properties sold for a combined $19.7 million, and a large portion of the Wagyu Fullblood and Poll Wagyu herds dispersed to new owners.
The Wagyu herd dispersal, involving around 1350 cattle, was one of the largest Fullblood sale offerings ever seen in Australia. The dispersal was divided into four separate sale components:
- 243 Registered Elite Fullbloods
- 757 Registered Premium Fullblood Wagyu offered in 29 lots
- 174 Poll Wagyu cattle
- Remaining to be sold is an offering of 91 Gateway Registered Fullblood Wagyu bulls making up the final Gateway Prestige Bull Sale to be held on 30 April.
The event attracted significant interest from across the Wagyu industry, with results reflecting the quality, depth, and proven performance of the herd. The buyers’ names were kept confidential.
Notable outcomes included the acquisition of Gateway’s Poll Wagyu herd (172 head) by a single buyer, negotiated prior to the auction. This milestone transaction included the entire Poll female herd, part of the property assets, and a selection of Elite Fullblood genetics, securing the future of the Gateway Poll Wagyu and Fullblood Wagyu lines in their entirety.
Highlights from the various sales include:
- The Gateway Elite Sale showcased the breeding program’s success, with strong demand seen across the board. A standout group of elite Wagyu Fullblood heifers in the top 1% of the breed averaged $19,875, with a top price of $42,000.
- PTIC cows sold up to $50,000 twice, averaging $20,111.
- Bulls reached $50,000 (shared ownership), averaging $32,000.
- Semen sales included a half-straw fetching $7,000.
- Breeders averaged north of $5,000, representing a solid result in challenging conditions.
- Certain genetic lines attracted particular interest, with females joined to Gateway F154 S0024 Gatekeeper producing outstanding animals and making a significant impact on the sale result.
Across the various completed sales, 95% of the lots were cleared, a strong outcome in a market facing headwinds, especially at the premium end. A small number of unjoined heifers remain available for private purchase.
New South Wales-based buyers led the bidding momentum, with buyers also coming from Queensland, Victoria, South Australia, and the ACT. There was no clear overseas bidding interest shown.
The results reflect years of careful selection, data-backed decisions, and a focused breeding strategy driven by premium market performance, according to George Lubbe from marketing agents Premium Bovine Solutions.
Gateway Wagyu Properties Fetch $19.7m at ‘Private Auction’
As part of the Erasmus family’s asset dispersal, the three mid-North Coast grazing properties that formed the basis of Gateway’s Wagyu breeding and backgrounding operations were sold this week for a combined $19.7 million.
There were some last-minute changes in the property sale process to accommodate a buyer seeking to secure both cattle and properties. Originally set for auction after the cattle auction, the properties were brought forward for sale to allow bidders to secure land first. The auction format was changed by marketing agents Ray White Rural from open cry to a private ‘invite-only’ affair, allowing buyers’ names to remain confidential. Both properties were sold under this unique process.
At this stage, the identities of the property buyers have not been disclosed. However, here’s what is known:
- Neither Gina Rinehart’s Hancock Agriculture nor WA’s Stone Axe Pastoral were involved, with no corporate entities participating.
- The buyer of the Three Pines property (1171ha between Gloucester and Krambach) was a private Queensland-based established Wagyu producer.
- The buyer of the 1015ha Kerriki and Number One aggregation in the Upper Manning Valley district was an established western NSW Wagyu producer who later acquired the Gateway Poll Wagyu herd, consisting of 174 head, before auction. The same buyer purchased a significant number of elite Fullbloods.
The Three Pines property sold under the hammer at auction for $13.7 million, representing approximately $11,700/ha.
The Kerriki and Number One aggregation spanning 1016ha sold for $6 million, at around $5,900/ha.
Three Pines Property
Three Pines offers ideal conditions for breeding, featuring improved pastures of Rhodes, kikuyu, and clover. Wagyu calves are weaned at 6-7 months, with the property held in four titles and comprising Creek flats, open grazing areas, and clean steep grazing sections. Infrastructure includes a great set of cattle yards, 12 dams, 19 troughs around yards, and renewed fencing with a laneway system for easy cattle movements.
The main homestead has three bedrooms plus a study, while there is also a manager’s residence and a three-bedroom workman’s cottage on-site.
Kerriki & Number One Property
The Kerriki and Number One property, covering approximately 1015ha, has undergone significant improvements, including new fencing and extensive roadworks. With 6km of river frontage and high annual rainfall, the property is suitable for breeding and can comfortably support 500 breeders with room for expansion. It is held in 36 titles, including road enclosures, and features a mix of river flats, open grazing areas, and steep timber ridges.
Infrastructure on the property includes extensive new fencing, two sets of stockyards (timber and steel), a weatherboard homestead, and a brick/stone cottage. Native pastures consist of kikuyu, clovers, and paspalum.
