![AuctionsPlus chief executive Anna Speer AuctionsPlus chief executive Anna Speer](/images/transform/v1/crop/frm/9kyzP9Zutm5XFVsqvLWUBX/3ca1637b-2818-467c-96a8-ff652ed11bf4.jpg/r0_30_5760_3274_w1200_h678_fmax.jpg)
A MOVE to modernise the open cry auctions could see wool buyers inside the auction room compete with online buyers.
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The radical move has been flagged by AuctionsPlus chief executive Anna Speer who believes allowing online bidders to participate in the physical auction would demonstrate whether there was interest in purchasing online from other states or countries.
“I think simply introducing online buyers to the physical auction would be a start to boosting competition - this could be both national and international,” Ms Speer said.
“We would like to see the online auctions continue to work alongside the current physical auction in the same way saleyards operate.”
The suggestion stemmed from the company’s concerns with Australian Wool Innovation’s development of the Wool Exchange Portal (WEP), which Ms Speer said could be in competition to existing platforms.
AuctionsPlus operates WoolTrade, an online offer board and AuctionsPlus Wool, a weekly online wool auction.
“I strongly believe the first step in (modernising the auction) is getting the physical sales interfaced with the online which would be an incremental change that would allow more people to access the sales while building confidence in the technology available,” she said.
“As an industry we need to avoid fragmentation and need to work really hard to communicate with and understand all participants in the supply chain.
“We are committed to the industry and are concerned at the expense and challenges that would arise from the development of a completely new exchange platform.”
![Online wool auctions to get physical Online wool auctions to get physical](/images/transform/v1/crop/frm/9kyzP9Zutm5XFVsqvLWUBX/5e8f73b1-7053-45f1-be2f-5a99e9d34c8e.jpg/r0_269_2500_1675_w1200_h678_fmax.jpg)
Despite being initially promoted as an information portal, AWI have not ruled out the potential to have an e-commerce, or transaction element, to the WEP.
“If the WEP has a transaction element, we are adding another fragment to an already fragmented industry,” she said.
“I’d be keen to see a consolidated step-by-step approach, let’s not try to build the Eiffel Tower overnight.
“The best way to start is by interfacing the physical auctions, by simply streaming them online with the ability to bid, allowing people to get comfortable with the technology.”
Ms Speer said with increasing overheads and broker competition, consolidation of buyers and a decreased clip, the industry had to be cautious of not further fragmenting the auction system.
“I think that a central portal for wool auctions and private listings is an opportunity for industry,” she said.
“Based on our track record of online wool selling and the recent new bidding platform upgrade which is world class technology, I would have thought AuctionsPlus would be a good party to be involved in streamlining efficiencies in the supply chain rather than recreating the wheel at a large expense.”
If the WEP has a transaction element, we are adding another fragment to an already fragmented industry,
- Anna Speer, AuctionsPlus