How does Livestock Live work?
Livestock Live is a Livestock auction platform site where sellers can put their animals up for sale and buyers can bid. Buyers and Sellers have peace of mind as sales, purchases and payment is managed via LSL secure payment platform.
Accounts and Registration
1. Registering on livestock live
Registration is quick and easy, register for free.
2. Filling in your personal details
Fill in your details to enable buying and selling
Selling
1. Add stock
Add your stock manually or import animals (If you are from Ireland and have access to Ireland Department of Agriculture)
2. Add and start auction
You can have one or more animals in an auction. Auction can be started and run for up to 30 days.
3. Accept Bid
Accept bid based on offer price and buyer rating.
4. Partial auction payment transferred to you
Once bid is accepted, full auction payment is taken from the buyer and secured. Partial amount will be released to you immediately. You need to arrange delivery or collection of the animal with the buyer.
5. Confirm weight
Once the animals have been delivered or collected, you need to confirm total weight of the animals.
6. Deal completed
Deal completes once the buyer also confirm the weight of the animals. Full auction payment will be released to you and available from your LSL account.
7. Transfer money into your physical bank account
You can then transfer funds available on your LSL account into your bank account.
Buying
1. Deposit fund
In order to buy on LSL, you must pre-deposit fund into your account.
2. Make a bid
You can bid by entering price per kg or by entering total price. You can also enter am offer price and let the system automatiaclly counter bid for you.
3. My Bids and purchases
Any bid made can be tracked under Bids and purchases page.
4. Confirm total weight
Once the seller accepts your bid, full auction payment will be taken from you and held by LSL. You need to arrange delivery or pickup of the animal with the seller and confirm the total animal weight.
5. Deal completed
Once a matching total weight is confirmed by you and the seller, the deal completes. Full payment is then released to the seller.
Seller Loads animals into LSL
Full details of sellers animal are loaded into LSL including the sellers herd number, animal tag number, breed, gender, weight, four pictures, 30sec video, animal geographic location, transport included/not and a reserve price. Seller chooses to make auction visible to specific buyers registered on LSL or open the auction to all global users. Seller decides when the auction should start, how long the auction should last for (day/week/month) and when it should finish. Once the seller clicks submit, the auction is live.
Buyers bid on auctions
Buyers use the simple filter and search tool to find animals for sale by breed, geographic location etc. Buyer views details of animals available for sale including 30sec video and images. Buyers decide which animals to bid on and enter an amount in the bidding area beside each animal. If the buyers bid is the highest it goes green, if the buyer is out bid by another bidder the bid shows red. Buyers can bid on multiple animals at the same time.
Seller Accepts a Bid
Sellers can wait until the end of the auction for the highest bid or select “Accept Bid” during the auction. Once the seller accepts a bid, the buyer is informed through LSL messaging system and the status of the animal changes to “sold”. LSL auto generates and emails an invoice to the buyer and deducts the agreed amount from the buyers debit card/bank account. LSL transfers 5% of the amount to the seller and holds 95% of the agreed amount until safe delivery/collection of the animal.
Payment is taken from the buyer via LSL and sent to the seller
LSL operates like a trading desk where the buyer has to preload funds into the LSL software system. Once funds are uploaded the buyer is able to bid on any auction up to the value of the deposited funds. Once the buyer has successfully purchased an animal or group of animals, an invoice will be emailed automatically to the buyer. LSL will automatically transfer 5% of the purchase value from the buyers LSL account to the sellers bank account. Once the animals are delivered/collected safely and the buyer confirms safe receipt of the animals via LSL software, LSL will automatically transfer the outstanding balance to the seller. A receipt will be auto generated and emailed to the buyer. Both the buyer and the seller pay a fee (buyer pays £10, seller pays £10) per transaction to LSL software. This amount is auto deducted from the buyers and sellers debit card. LSL verify all bank account and debit/credit details and ensure they match the name and details of the buyer/seller. LSL operate these financial checks in conjunction with Experian Credit Reference Agency.
Deal is done and animal delivered
Once safe delivery/collection of the animal the buyer confirms “Delivered” status on LSL and the software will automatically transfer the remaining funds to the seller. Once the seller confirms receipt of funds a receipt is generated and issued to the buyer. Electronic export reports are available for import into Sage etc. for accounting purposes. Done Deal!
