Online sales beefed up

Launched by Elders last week, the new selling platform - touted as the "eBay for livestock" - offers the ability to sell or buy single lots in a real-time online auction.

Buyers and sellers can be reassured that secure payments will be held in trust until successful delivery of the animal or genetics is completed.

Livestock.com.au spokesperson Chris Howie said the platform was designed to provide market access to vendors who wanted flexibility and control in the sale of individual animals.

"Livestock.com.au is a simple solution for producers wanting to sell single high-end animals or genetics, or those who may not have sufficient scale to run their own auction," he said.

"The vendor has full control of their sale, from listing through to delivery, and they have the ability to set a minimum price and a buy-now function on their animal.

"Buyers can browse listings on the site free-of-charge, and can bid on animals at a time and place that suits them.

"This method of sale has expanded rapidly in the United States and Europe and so the opportunity to offer a similar option to Australian producers is truly exciting."

Mr Howie said he started to notice the development of IT-based sales platforms coming out of the US about three years ago, but found platforms set up to provide security of payment and handle legislative requirements around issues such as levies, were scarce.

Livestock.com.au has been built as a standalone platform, backed by Elders but not attached to any traditional terms and conditions.

"It's about single animals, not multiple animals; the reason for that is it allows a vendor to list their animal and the description is specific to the animal," Mr Howie said.

"It allows the buyer to buy with confidence - they're not averaging - and the purchasers pay cash into a trust account which holds the money until delivery."

Mr Howie said he had been surprised by the response to the product, reporting feedback had been "positive across all breeds and species".

"It's created an ownership dynamic with the producer; they don't have to do anything they don't want," he said.

"It's a cost-efficient way of offering animals. If they've got paddock animals which they normally sell by private selection, they can show many people what they've got available and if they sell by auction, that's excellent, and if they don't, they're promoting their inventory all the time."

Costs to use the website include a $15 listing fee, and an eight per cent marketing fee.

"Everything is upfront, there are no hidden surprises - if you don't like it you don't have to go any further," Mr Howie said.

A credit card component was also included, with a 7.5pc buyer's premium covering credit card and transactional costs - a figure Mr Howie said compared well with other auction sites charging a 12-15pc buyer's premium.

Details: www.livestock.com.au