British Wool Launch New Auction Platform Powered by Auction Marketer

British Wool has rolled out a new web based back-office and live auction platform in a bid to enhance the service they provide to their customers. British Wool hosts around 20 auctions each year selling approximately 25 million kg of wool on behalf of 35,000 sheep farmers in the UK.

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The enterprise level upgrade replaces all back-office systems required to create auctions and allows bidders to participate in real time online auctions through a web based platform.

During each British Wool auction around 150 to 200 8 tonne lots of graded and tested wool are offered for sale. The auctioneer reduces the price until the first bid is placed. As bidding proceeds the auctioneer can decide whether to sell each lot, request further higher bids, or take the wool back into stock.

Post auction all unsold lots are immediately open to final offers giving bidders the opportunity to make offers on unsold lots and for British Wool to maximise the sell through rate in an auction.

Roger Martin, Managing Director, Auction Marketer commented;

‘We are delighted to be British Wool’s partner on this project and to be supporting them and sheep farmers in the UK. We have been delivering bespoke technology for auctioneers across the fine art, vehicles, and property verticals for many years and this takes us into a whole new area. This project required a lot of industry specific customisations to meet the needs of British Wool and their customers, playing to our strengths of being willing and able to listen to client needs and to deliver a tailored auction technology solution to meet specific needs.’

Andrew Hogley, Chief executive Officer, British Wool commented;

‘We selected Auction Marketer to be our partner after an extensive tender process. The purpose of the project was to offer a higher degree of flexibility to our customers through offering on-line auctions. We look forward to passing these benefits onto our 35,000 members in the UK in the coming years.’

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