Produce auctions go online

Produce auctions go online


BID UP: Mirza Kashany, founder of Freshbids, a company that provides online auctions for meat, seafood, fruits, vegetables, wine, coffee and flowers.

BID UP: Mirza Kashany, founder of Freshbids, a company that provides online auctions for meat, seafood, fruits, vegetables, wine, coffee and flowers.

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New company, Freshbids, allows produce suppliers and buyers to deal through an online Dutch auction system.

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GROWERS and wholesalers now have access to a new way of trading fresh produce.

Freshbids launched itself onto the Australian market in September last year, offering an online auction process for buyers and sellers, and it's slowly gaining momentum.

Freshbids holds weekly, live international auctions for meat, seafood, fruits, vegetables, wine, coffee and flowers.

The Sydney-based company manages the entire process from the time a buyer purchases at an auction until it is then delivered.

Purchasing is done through the Dutch auction format, whereby items have a starting price and the price reduces until the whole batch is sold or the grower’s reserve is reached.

An auction typically takes about 30 minutes.

Both buyers and sellers must register online with a business name and contact details.

Buyers then receive a bidder number and are able to start purchasing.

Bidding includes the landed cost in Australian dollars.

Once a seller is approved, he or she can load the product catalogue onto the platform.

The process means produce can be traded across country borders as well, with Freshbids managing all quarantine requirements.

Freshbids founder Mirza Kashany said the concept is still finding its footing in the supply chain.

"We have started with flowers but are starting with fresh produce soon," Mr Kashany said.

"The interest globally has been encouraging.

"We will be trading fruits and vegetables soon and we are in the process of uploading catalogues from suppliers. We would start with Asia and then go global."

Mr Kashany said he could see the format taking the place of the traditional central markets system.

"Eventually intermediaries will be eradicated from the supply chain, especially the ones that don't add value," he said.

Visit: www.freshbids.com.au

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