In online livestock auctions, buyers bid on stock shipped either from the stockyard or directly from the producer. Online auctioneers provide live video feed of the stock up for bid over the Internet or satellite TV. Only buyers registered with the site or individual auction are able to bid.
A variety of stock is available for auction online, including sheep, goats, cattle and hogs. Buyers are able to bid on load lots and on individual registered animals, such as cattle and horses.
Online stock auctions offer advantages to both sellers and buyers. Sellers avoid the expense of transporting stock to a physical auction site. Animals are not exposed to the stress or danger of injury that comes with hauling, resulting in a higher-quality product. Sales, purchases and transport are scheduled ahead of time to optimize planning for pen space and trucking fees. Because neither buyer nor seller is required to attend the auction or be present for delivery, both parties avoid the time and expense of travel.
Livestock auction sites feature sales from all over the country, allowing sellers access to a wide market and buyers the ability to shop from a greater supply than is available at auctions operated from a physical location.