As the dust settles from another massive AuctionsPlus stud season in 2021, it is timely to review and analyze the online performance of the 367 sequential sales undertaken. Sequential sales (SEQ) are when the lots in the auction are offered for sale sequentially one at time and usually comprise of a physical sale with the addition of online bidding functionality.
Sequential stud sales on AuctionsPlus increased by 25% in 2021, with a total of 367 auctions interfaced online – for the period from the beginning of August through to October 15th, 2021. This was up from 294 sales in 2020 and 113 sales in 2019. From this total, cattle made up 134 sales and sheep made up 233 sales, with cattle increasing by 23% and sheep rising 26% from 2020. This data also excludes stud sales that opted to run as an online only sale, which also saw a dramatic increase in uptake, as covid restrictions were still in place for much of NSW and Victoria during the busiest periods of the stud selling season.
With sales increasing again in 2021, total bids across the timeframe also registered a 28% increase from 2020, with a total of 51,365 bids placed. This resulted in 6,346 lots secured by online purchases, an increase of 57% from last year. In reviewing average lots purchased per sale, 2021 registered steady growth on 2020, with an average of 17 lots purchased by online buyers per sale, up by three lots per sale from 2020.
The average number of bidders per sale consolidated 2020’s growth, increasing by one bidder to average 10 per sale in 2021. Interestingly, the number of average connections (which includes buyers, viewers, and guest logins) decreased in 2021, with an average of 106 connections per sale.
While all the online growth has been positive for AuctionsPlus, by far the most important growth registered was in the prices received at these sales by vendors. Underpinned by favorable seasonal conditions and a lower supply of stock, commodity prices have been pushed to historic levels. The average bull price, paid at stud sales which have been interfaced with AuctionsPlus was $9,675/head, up from $8,472/head in 2020 - representing an increase of 14% and 46% from the lows of the drought in 2019.
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