My research also uncovered an MLS listing for another property with geodes in a different county in northeast Missouri. I realize this property will produce a different type of geode because of the different minerals in the area, but it is a geode property none the less. Again, after comparing this sale with other similar tracts in the area without geodes, there did not appear to be an adjustment for the presence of geodes.
I then called several realtors, appraisers, and land traders/sellers in the area. Through talking with each of them, I determined that they all had the same conclusion that the geodes on the property would be an added benefit for the buyer/seller, but they have no knowledge of someone willing to pay more for a tract because of the geodes.
After visiting with each of the above market participants, I then called a local geode miner/seller. He informed me that it is very difficult to know exactly how many geodes are remaining on the property and the value of the geodes. The cost of excavating the geodes can be very expensive due to the need to use heavy machinery. Also, one must clean, cut, and market the geodes after they are mined, and this can sometimes cost more than excavating them.