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Auckland all-rounder Colin de Grandhomme took the game way from the visitors with an unbeaten 144 from 147 deliveries at Eden Park Outer Oval yesterday.
He smashed 18 fours and five sixes in a controlled assault. His 143-run partnership with Rob Nicol (65) got the home side into a strong position.
But a five-wicket bag from Otago medium-pacer Christi
Viljoen helped keep the visitors in the contest. He combined with Neil Wagner to take three late wickets.
While Walter said it was not fun to end up losing, he was thrilled with the effort his side had put into the match.
''There were definitely areas we could have done better in but I'm certainly proud of the effort,'' Walter said.
Otago top-order batsman Ryan Duffy was struck by a bouncer earlier in the game and was unable to bat in the second innings. The Volts posted 353 for nine and set Auckland a target of 373.
Walter felt it was 50 runs shy of a more competitive total.
''If we'd got that extra 50 runs we'd set ourselves up for, then it might have been a different result. But, to be honest, if we had bowled better [yesterday] morning we would have given ourselves a better chance.''
The biggest difference between the teams was the quality of spin bowling. Experienced leg-spinner Tarun Nethula took 10 wickets in the match with six for 36 and four for 88 in the second.
Otago leg-spinner Rhys Phillips bowled just four overs in the game and took none for 19.
Off-spinner Josh Finnie, who contributed 60 with the bat in the second innings, was hit for 17 runs from his only over.
''With the way the seamers were bowling we [decided] to stick with the seamers as our best wicket-taking options. But we slowly have to develop our unit into one which has many strings and one of them is our spin bowling options.
''We have to improve in that department but you can only improve when you provide opportunities to grow.''
Viljoen picked up his eighth first-class five-wicket bag with five for 101 from 26.2 overs and carried a heavy workload in the game.
The South African-born player has impressed since joining the Volts' squad last season and is an awkward prospect. He bowls off the wrong foot and gets plenty of swing.
''Christi got the wickets next to his name but Sam Wells produced a really good 30 overs for under three an over. Jacob Duffy bowled well and as a unit they worked really well. That is not to detract from the bowler taking a five-for ... but there was more than one person who contributed.''
In the other games, Canterbury produced a staggering finish to beat Central Districts by 71 runs at Hagley Oval.
Canterbury spinners Tim Johnston and Todd Astle combined to take four wickets in five balls as Central collapsed from 41 for two to 42 for six. The Stags managed just 86 - their lowest total - and fell well short of the 158-run target, Astle finishing with five for 36.
At the Basin Reserve, the rain-affected match between Wellington and Northern Districts ended in a draw. Northern got to the safety of 156 for six when the captains called it off.