Glossary of important terms
Agent
Appropriately licensed individual who undertakes business transactions in relation to the sale or purchase of livestock, wool, or other agricultural commodities, often on behalf of a client. Any commodity sold on AuctionsPlus involves a licensed agent to complete the transaction.
Assessment
A physical appraisal of livestock completed by an Accredited Assessor. The assessment contains details such as weights, fat scores, age, animal health treatments, management details, bloodlines, joining details etc. By purchasing a lot on AuctionsPlus, you acknowledge that you have read the complete assessment prior to bidding.
Assessor
An individual who has undergone training to become accredited in order to assess livestock to be offered for sale through AuctionsPlus. Assessors begin as a Level 3 and can be promoted to higher levels depending on the quality, consistency and frequency of their assessments. All commercial livestock must be assessed by an Accredited Assessor prior to sale.
Assessor Course
A 2-day training course providing prospective assessors with skills in objective livestock assessment. Attending an Assessor School is mandatory for all individuals wishing to become accredited.
Auction
A sale in which each lot is sold to the highest bidder, where the bid equals or exceeds the nominated reserve price.
Auctioneer
An individual conducting the physical component of an Auction.
Arbitration
A process to resolve a misdescription claim when negotiations between buyer and seller are unsuccessful.
Bid
To place an offer on a lot at a designated price.
Buy Now
Sale option making a lot available for a buyer to purchase immediately at a specific price, without the lot going to auction.
Catalogue
Document containing details on lots for sale in an auction. Catalogues may include assessments, photographs and other media, or links to external sources.
Cents Per Kilogram
Bid type where the buyer agrees to purchase the lot at the nominated cents price for each kilogram of live or dressed weight. Lots sold on a cents per kilogram basis will be weighed at time of delivery (as per seller terms) for c/kg Liveweight sales; or over the abattoir scales for c/kg Carcase weight sales.
Classic Package
Refers to a Special Sale. The classic sale package includes online bidding (no streaming included).
Connect
To access an AuctionsPlus auction as a buyer or a viewer.
Commercial Stock
Commercial livestock are not registered with a breed society, and are bred for the purpose of producing offspring, wool and/or meat.
Delivery
The transfer of Livestock or other applicable commodities by the Vendor to the Purchaser. The location and date of delivery will be nominated in the catalogue.
Dollars Per Head
Bid type where the buyer agrees to purchase the lot at the nominated dollar price for each animal in the lot.
Interfaced Auction
An interfaced Auction comprises a physical sale with the additional of online bidding functionality, and may include stud or commercial livestock, or other commodities. An interfaced sale may include Audio or Video streaming.
Listing Fee
The applicable fee for the service provided by AuctionsPlus e.g. number of head listed. Listing fees include pre-sale marketing, cataloguing and reporting of results. It does not include commission or other fees charged by the assessor or agent.
Livestock
Cattle, sheep, goats, pigs or any other animals listed for sale on the AuctionsPlus System.
Lot
Any Livestock or other commodity listed for sale on the AuctionsPlus System.
Market Comments
A report released weekly on a Friday by AuctionsPlus detailing auction results for the week for livestock and wool. The report contains analysis of various stock categories, as well as commentary on highlights and trends.
Misdescription
A claim raised by a purchaser when the livestock delivered are deemed inconsistent with the assessment description. A purchaser must notify the claim within 48 hours of receival of stock to be protected by the AuctionsPlus Sale Terms, including providing evidence of the nature of the claim. Any misdescription claim not resolved within 14 days of being raised will be submitted for Arbitration.
National Sheep/Cattle Health Declaration
A document providing details of the health status of livestock being offered for sale. It is a legal declaration provided by the vendor, not by the assessor or agent.
Newsletter
Communications from AuctionsPlus to which a user has subscribed, including (but not limited to) catalogues for livestock or other commodities or regular monthly updates; as well as user-specific information (such as newsletters to all assessors) and other important information AuctionsPlus needs to transmit to users from time to time.
NLIS
The National Livestock Identification System. NLIS is Australia’s system for traceability of livestock, essential for market access, disease control and product integrity. It is the Buyer’s responsibility to complete the NLIS transfer of any livestock purchased via AuctionsPlus.
NSM
Not station mated, to the best of an assessor’s and vendor’s knowledge the stock have not been knowingly exposed to a bull or ram. Does not guarantee that the stock are empty.
Parallel Assessment
A field assessment conducted on livestock by an individual seeking assessor accreditation, completed alongside an Accredited Assessor.
PIC (Property Identification Code)
An alphanumeric code allocated by the relevant state authority to a property used for agricultural purposes. It is a requirement for all buyers and sellers transacting on AuctionsPlus to have a PIC. A PIC is also included on all lots of livestock assessed for sale.
Pre-Auction Details
Details available to buyers prior to final catalogue being made available. Includes a brief description of each lot, as well as photos and other media uploaded by the assessor. May also include the full Assessment details if made available by the assessor.
Pregnancy Tested Not Detectable
Stock were pregnancy tested/scanned prior to sale and no pregnancy was detected. It does not guarantee stock are empty, as pregnancy may not be detected in early gestation.
Premium Package
Refers to a Special Sale. The Premium sale package includes online bidding, audio and video streaming and AuctionsPlus staff on site.
Prime Package
Refers to a Special Sale. The Prime sale package includes online bidding and audio streaming.
PTIC (Pregnancy Tested In Calf)
Stock were pregnancy tested/scanned prior to sale and found to be in calf on that date. Does not guarantee a live calf or pregnancy.
Purchaser
Also called a Buyer. Highest bidder on a lot that has met or exceeded the vendor’s reserve price at auction, or who has negotiated a sale price post-auction.
Sequential Sale (SEQ)
Lots in an auction are offered for sale sequentially at one time.
SIL (Scanned In Lamb)
Stock were pregnancy tested/scanned prior to sale and found to in lamb on that date. Does not guarantee a live lamb.
Simultaneous Sale (SIM)
All lots in an auction are offered for sale at the same time.
Slaughter Stock
Animals purchased for immediate slaughter by or on behalf of the Purchaser.
Station Mated
Stock have been running with a bull/s or ram/s. There is no guarantee that the stock will be in calf/lamb.
Stud Stock
Animals retained for breeding purposes and registered with a breed society (or similar).
Unassessed Lot
A lot offered in an auction that has not undergone assessment by an accredited assessor. Unassessed lots include those available in machinery sales or stud livestock sales.
Vendor
An individual offering a lot for sale on the AuctionsPlus system. Vendors must sell through a registered agent on AuctionsPlus.