Auction

By | July 19, 2009

e-wool provides a fast and efficient auction service in each state.

We use the same show floors and auction rooms as the conventional brokers.

Selling at auction is a price taking system where the buyer ultimately sets the price by bidding against other potential buyers. The sellers only control over price is to set the minimum price he or she will accept.

At auction the seller get no opportunity to promote the product and its attributes or to provide any quality undertakings.

Auction is a good way to sell wool at either end of the quality spectrum where the subjective assessment may be relevant ie wool with a large number of discount features (very tender, very cotted, very coloured, heavy stain) or wool at the very high end of the quality spectrum ie Superfine ( less than 17 micron with yield greater than 80% and strength greater than 50Nkt and very low mid-break % ).

At auction growers get very little recognition for their brand beyond the auction show floor as there is a very high level of blending due to the large number of small lots offered. The average lot size sold at auction is less than 6 bales.

The alternative is to sell direct to a processors via New Morino chain of custody and get full recognition of you brand and your quality attributes.