Online pre-sale assessment data a success for CVLX Store Sale
BALLARAT’S first Store Sale using third party pre-sale assessment information was welcomed by buyers and sellers with 2,100 head of quality store cattle sold at Central Victoria Livestock Exchange (CVLX) on Friday among healthy competition.
The sale drew strong online interest, with 27 per cent of the lots in the sale bid online.
The pre-sale assessment data included in the online catalogue provided prospective buyers with weights, breed, quantity vendor information, agent details and additional data including fat score, muscle score, age and horned status, and where applicable, the pregnancy, weaned, grass fed and antibiotic free status.
CVLX agent representative Sean Simpson said having the pre-sale assessment available via StockLive had the desired outcome of bolstering external support from buyers for the live physical auction.
“We saw additional online interest with 305 people watching and $325,000 transacted via StockLive,” Mr Simpson said.
“This is a significant increase on our previous online sales and we are hearing from the buyers that the quality of the data in the online catalogue was key to giving them confidence to bid and purchase online.
“Given the tough physical restrictions we’re having to implement with COVID-19, ensuring we maximise the buying pool wherever possible is critical to each sale’s success.”
First time StockLive user Glenn Rea, from McKean McGregor, bid on 25 pens and purchased five for $44,000.
“I haven’t purchased using StockLive before, but given the quality of the information available, particularly the weight on the live video, it was brilliant,” Mr Rea said.
“I knew what I was after, could clearly see the stock and felt confident in purchasing, it’s definitely something I’ll use again for sure.”
StockLive Manager Libby Hufton said the independent pre-sale assessment data in the online catalogue was a first for StockLive.
“We were thrilled to have the opportunity to work with the operating agents and CVLX to make such detailed data available in the online catalogue,” Ms Hufton said.
“Any initiative, like this, that improves online buyer confidence and increases the competitive market for vendors, agents and saleyards we see as really important to be involved in and facilitate wherever possible.
“The results today speak for themselves in terms of the success of having such data available ahead of the sale to increase buyer confidence and participation, particular with restrictions on visiting the yard pre-sale understandably so tight.
“We look forward to working with CVLX to offer this level of information again.”
StockLive is 100 per cent owned by the Australian independent and privately owned Agricultural Asset Management (AAM) Investment Group.