After more than 100 years, the Wegner family has sold their southern Flinders Ranges farm for $3.9m

At the sale price achieved at public auction on Friday afternoon in the Wirrabara Town Hall, James Wegner and family made $5235 per acre.

Sold by Ray White Rural's Geoff Schell, the first bid was offered at $2.5 million to quickly rise to $3.9 million among two competing bidders.

After pausing the auction to consult with the Wegner's, Mr Schell returned to the auction to announce the reserve had been reached and with no further bids, the hammer fell.

There were nine registered bidders at the Wirrabara auction.

Wegner's enjoys an annual average rainfall of around 420mm.

If it hadn't been sold as a whole, it was to have been offered in two non-contingent lots - House on 204ha (505 acres) and South 97.1ha (240 acres).

Historically the Wegner's have taken advantage of the property's fertile cropping land and hills grazing.

The family has successfully run and managed a mixed farming enterprise of rotational cropping and prime lamb production in this reliable rainfall area.

The land features gently undulating arable country containing 255ha (629 acres) of red clay loam soils with balance being lightly timbered grazing hills.

Stock water is secured with a combination of equipped bores and mains water.

The fencing is considered in good condition with majority cement posts and 7-line Cyclone.

The farm has a three-bedroom homestead in a garden setting along with ample shedding, containment pens, sheep yards and shearing shed.

Agents say the Wirrabara area is highly sought after for allowing flexibility with growing cereals, oil seeds, legumes, hay production and running livestock.

Ray White Rural is also selling Hills Block on Gants Hill Road (99ha, 245 acres) at the Riverton Town Hall on Wednesday at 2pm.