No 383 - Saturday's Club Notes

The “Club Notes” for Saturday, the 7th of December, 2024.

By Dwain Duxson - An Ag Enthusiast

The great Wool valuation swindle

A mate texted me about something and told me that he sold his Wool. He said this: "Sold Wool yesterday. 10% above valuation, non mulsed, Sustainaco accredited, Schnider's bought it". I remember going to the Wool sales in Melbourne on many occasions, and they were fun days. Fun because our long-time Agent, the late Don Murphy, used to make it a real day out, which ended in dinner somewhere before the 3-hour drive home. They were memorable trips. But thinking of all those trips and watching the Wool auctions, I don't think I ever saw one lot get passed in under valuations. I'm curious as to why this never happened. The Agents are there to sell, and they know where the market is at, so I assume they would value it to sell. In other words, they would give it a comfortable number under where the market is at. It's a great tactic because the Wool usually sells and also because there's a bit of human psychology involved here. If you got anything above what your esteemed Agent valued it at, you would be happy. That pretty much happened every time, and you would report to your wife, husband or however that we got such and such above valuations, like old mate above. It was a happy report, a win, so to speak. Genial. This model hasn't translated to Sheep and Cattle, where the opposite happens, and they get reserved above market price, which makes it tough to sell. Swindle, yes, but a bloody good one. Well devised Agents. Did you ever sell Wool under Vals? Reply to [email protected] or 0427 011 900

10 and 5 slab or Wine equivalent Draw Winners

Congratulations to Josh and Wayne. Now it’s time to pick your poison…..

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The Farmers Club - For Ag Enthusiasts

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