British Wool auctions - all wool is offered through our fully computerised auction system with a catalogue being produced and sent to all buyers a week before the sale. All sales are held at its Bradford headquarters.
Eighteen sales are rostered over a twelve month period, with between 1.5 and 2 million kgs offered each sale. Sales are attended by registered buyers, most of whom are merchants trading internationally and supplying end-users. They buy in lots of approximately 8,000 kgs in order to fulfil orders to manufacturers.
To give greater choice and flexibility for buyers, a good percentage of the clip is now sold forward, three, six, nine and twelve months, either 'available', or 'not available'. If 'available', buyers have the option of taking the wool any time during the following three or six months; if 'not available', the wool is sold, before being received at the depot, or while it is still on the sheep's back. Once the wool has been sold, the buyer is asked to pay for it before collection, and has four weeks to settle the account.