The massive growth rate in online stud selling registered through 2020 accelerated into the 2021 AuctionsPlus Autumn stud selling season, with total online numbers up across all major categories. With the growth in 2020 fueled by the COVID-19 pandemic and enforced movement restrictions, the 2021 numbers increased further, underpinned by the positive experience for participants and great results for stakeholders.
As per the results below, the AuctionsPlus Market Insights (AMI) team have investigated stud sale data for the first half of the 2021 calendar year (January to June), analysing sequential sale data and comparing it to the same period in 2020 to quantify the recent growth and online interaction. Sequential sales are any sales when a physical auction is held, with AuctionsPlus present and bidding on behalf of the online bidders.
Figure 1: Total Interfaced Auctions
The number of sales facilitated by AuctionsPlus in the period increased across all auction types; cattle, sheep and other. There were 130 sequential stud cattle auctions from January to June 2021, increasing by 57% from the previous year (83 sales). Sheep represented an 81% increase to total 38 auctions, up from 21 the previous year. Other sales also increased from 2 auctions in 2020 to 14 in 2021 - including alpacas, equine, camel, stud goats and pigs.
With the total auctions held for the period increasing on 2020, the number of users connecting to the auctions in 2021 also jumped - converting to more bids and ultimately more lots being purchased online.
Figure 2: Average Number of Connections Per Auction
The average number of connections to both sheep and cattle stud sales in 2021 also increased from 2020. Cattle increased 12% to average 113 users entering the auction, while sheep increased by 12% to 91 users on average in each auction. Average bidders per auction increased for both sheep and cattle, increasing 11% and 25%, respectively, to both average 10 online bidders per auction.
Figure 3: Average Bidders Per Auction
Average bidders per auction increased for both sheep and cattle, increasing 11% and 25%, respectively, to both average 10 online bidders per auction.
Figure 4: Average Total Online Bids Per Auction
Total online bids also registered growth. Cattle was firm on the previous year, with 96 bids by online bidders being placed per auction, increasing by 1%. Sheep was the main highlight, which saw a huge increase on 2020 numbers, increasing 127%, to 186 bids per auction for the first six months of 2021.
Figure 5: Percentage of Auction Lots Purchased by Online Buyers
Finally, the percentage of lots purchased by online buyers has also seen steady growth for 2021. For cattle, 16% of lots in interfaced sales were purchased by online buyers and 24% of lots in sheep sales.
Heading into July 2021, the stud team at AuctionsPlus are already planning for the biggest spring selling season yet. With the current uncertainty of lockdown restrictions, AuctionsPlus is again ready to deliver for both buyers and sellers in 2021.
To find out more information about how AuctionsPlus can help market and allow for online connectivity at your upcoming stud sale, please give the stud team a call – 02 9262 4222.
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