The platform is a ‘Buy Now’ system, where wool is listed at a certain price by brokers and buyers/exporters login to purchase it.
The process for growers is the same as if they were to sell at the auctions. Once their wool is in-store and tested with their regular broker, the broker transmits it to AuctionsPlus. All the normal test data from AWTA (Aust Wool Testing Authority) is online for buyers to see just as they do at the physical wool auctions. Buyers can search online and select wool that fits their specs. They have the option to inspect a sample of the wool and compare with how it has been described by broker, and once approved, the sale can be processed.
We sell wool 24 hours a day, with buyers looking to the system as an alternative to when the physical auctions aren’t open.
Currently, 47 Wool Broking and 48 Wool Buying companies from across Australia are actively operating on the AuctionsPlus online system. Since 2013, over 179,000 bales have been sold.