No hands were raised after only one bid, with the properties passed in at $38 million.

About 25 people - including a number of property valuers, bankers, Kidman's managing director Greg Campbell, the company's livestock marketing manager Will Abel-Smith and Ruby Plains manager Mervyn Wortley - attended.

Following the sale, Mr Campbell said he was not disappointed with the result.

"I'd liked to have seen a conclusion but it is not unusual for an outcome like this," he said.

Despite a six-week marketing campaign, Mr Campbell also said "one or two" offshore parties fell short of time to adequately prepare relevant business plans.

Restricting the activity of overseas buying interest was the Western Australian foreign ownership clause, which restricts overseas investment in property to 50pc.

As reported in the Stock Journal on August 7, at least four private inspections were conducted on-property.

Prior to the auction, Landmark Broome's Andrew Steward said that despite selling into a "difficult market", S Kidman & Co would go to auction with "quite a high profile".

Soaring fuel prices prompted Australia's third largest beef supplier, S Kidman & Co, to put its East Kimberly stations on the market.

Included in the sale was 30,000 head of cattle valued at $390 a head or $12.6 million, plus 150 horses valued at $105,000 and plant and equipment worth $671,000.

In the lead up to the auction, it was expected the Ruby Plains/Sturt Creek parcel would sell for up to $50 million.