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When marketing calves, cattlemen have more opportunities now than ever before. There's the local auction barn, order buyers, private treaty, internet postings and video sales, but one more platform was just introduced, offering people the opportunity to look at and instantly buy cattle from anywhere in the world. Producers Video Auction, headquartered in Fort Worth, Texas, has launched the first real time internet livestock auction. "We wanted to find a way to make it easier for people to buy and sell cattle across the country. A video auction offers large quantities of cattle through out the nation, but you have to find a place with satellite access to watch the auction and bid on cattle. By selling over the internet, anyone with a computer and internet access can buy," says Warren Reid, Vice President and General Manager of Producers Video Auction. Unlike other internet auction services, bids for each lot of cattle will show up instantly on the screen of everyone logged on to the page. The individual lots will be sold in a matter of minutes. "When a lot is up for sale, a detailed description of the cattle and a photo are on the left of the screen, and bidding information appears on the right. The current bid, two previous bids and the asking bid are displayed. If you want to bid, you just click on the bid button, and your bid becomes the current bid," Reid says. A catalogue for each sale will be on the internet with several photos of each lot. Producers is also looking into supplying video of the cattle over the internet. The system has been tested with several mock sales with mock buyers strategically placed around the country. "We've tested the time it takes to receive bids from one geographic location to another, and found that when a buyer in Florida bids on cattle, my screen in Fort Worth is updated within four or five seconds. The buyer's computer then tells him if he has the bid, or if someone else does." The auctioneer can type information that appears on the top of the bid screen, and at the end of each lot the auctioneer will type, "cattle going once.......cattle going twice," etc. If no one bids again, then the cattle are sold. "Anyone can watch the auction," explains Reid. "In order to bid, you must obtain a buyer's number from our office. That number serves as your password to get into the bidding screen." Reid says that initial auctions will feature yearlings. "They have a smaller range of value than calves do, so it should be easier to bid. Plus, typically people buying yearlings are familiar with computers. Most are online, and feedyards are very computer savvy." As the auction grows, other types of cattle will be incorporated. "The internet auction is a very competitive way to sell cattle," Reid says. "Commission and consignment fees are cheaper than salebarns or video auctions. I really think this will become a viable way to trade cattle." To visit the auction, log onto www.farms.com and click on the Producers Video Auction link, or visit www.producersvideoauction.com. From the home page, click on the Auction Sale Ring link. From there, you can look at any of the cattle for sale or log on to watch the sale. To consign cattle or for more information, contact a Producers Video Auction representative in your area or call the main office at (800) 422-8532. |
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