Market Research

As auctioneers we always like to keep a keen eye on the trade. Not only in our own markets but in neighbouring outlets and throughout the UK, and that's where 'market research' is put to great use.

Market reports are a good source of information and many outlets are keen to make a statement on the trade they achieve and possible reasons behind that trade. Some outlets have recently researched and found that as well as improved trade that commission rates can contribute to their success.

Myself, I find the Farmers Guardian market prices section is an excellent source to see what the trade is all over the UK. These are actual figures provided by each individual outlet to the AHDB and published weekly. Looking at the figures published for week of 22nd September Whitland store cattle trade showed to be very competitive in all the categories put forward.

Store cattle are categorised by breed, then by age and further to steers and heifers. In most classes we have bettered neighbouring outlets, both to the West and East of where we are, and in many of the categories our prices, even after commission is deducted, is still higher than other outlets before their commission AND tolls are deducted.

I think trade is something an auctioneer should be very proud of and something that they should promote whenever they get the opportunity as they should also the service they provide. Modern facilities can indeed make it easier to provide a service but it does not necessarily make it a better service. Where ever I sell, and whatever I'm selling I give 100% effort on behalf of the vendor to achieve the best prices I can. That's my 'stance' and that's JJ's 'stance' as a firm when it comes to the service they provide.