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Christchurch chosen as strong wool auction centre

20
Nov '09
New Zealand's largest wool handler, Wool Partners International Limited, will move to a single purpose built national venue for wool auctions from March 2010.

Weekly sales will be conducted in Wool Partners' Christchurch auction centre where buyers will also be able to view wool samples before bidding.

Wool Partners Chief Executive Officer Iain Abercrombie says the move to centre auctions in Christchurch for the bulk of the strong wool clip will create efficiencies for buyers as well as reduced operating costs for the company. “We believe that by having the majority of the auction clip passing through one floor will produce a more accurate price signal for growers and processors and will ensure that all growers receive the best price on the day for the quality offered.”

The decision to centre auctions in Christchurch follows consultations with wool exporters, other wool industry participants and Wool Partners staff in Napier. Other wool handling operations in Napier will be unaffected by the closure of the fortnightly auction sale.

“Growers who currently send their wool to Napier will continue to do so. Only the samples and sale transaction will move to Christchurch with all other aspects of wool handling, scouring and exporting currently carried out in Hawke's Bay remaining there. There will be no additional costs to the grower for North Island wool auctioned in Christchurch.”

“Eventually we expect to move to electronic sale though there is still a strong preference amongst buyers to physically handle samples before the auction begins,” Mr Abercrombie says.

Wool Partners is the largest wool auctioneer in New Zealand responsible for approximately two thirds of the strong wool clip that goes under the hammer. An increasing portion of the balance is being channelled by Wool Partners into the high specification Laneve brand supplied direct to leading carpet manufacturers.

“Auctions remain an important sales channel but the days of 40 buyers competing for the offering have long gone. Now there are rarely more than a dozen at any one event.”

Wool Partners' auction facility will continue to accept entries from third party wool handlers who wish to make use of the selling system.

Wool Partners International Limited


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