Auction Services
AWEX underpins Australia's wool marketing system with trusted auction services, transparent information and
robust integrity services that give buyers and sellers confidence in a fair and efficient marketplace.
It is estimated that approximately 85% of wool produced in Australia is offered for sale through open cry auctions.
AWEX is not a buyer or seller of wool; its role is to provide the independent systems, rules and oversight that support the orderly conduct of Australian wool auctions. Open cry auctions are live auction sales where registered buyers compete openly for wool offered by sellers, enabling transparent price discovery. While open cry auction remains the primary selling method, wool may also be traded through private treaty, forward contracts or direct supply arrangements outside the auction system.
AWEX delivers these services through the coordinated administration of national selling programs, market forecasts, sale rosters and selling arrangements, industry governance committees, auction business rules and buyer and seller registration processes.
Annual Wool Selling Programs
The Annual Wool Selling Program (WSP) outlines the overview for a Season's wool auction program. The WSP gazettes the Selling Weeks, Sale Numbers, Selling Centres and Sale Recesses for the wool selling season. Auctions are typically held 46 weeks of the year in three selling centres: Sydney (Yennora), Melbourne (Brooklyn), and Fremantle (Bibra Lake). Sale recess weeks include Christmas, Easter and July or August. These Programs are administered and issued by the National Auction Selling Committee (NASC).
Current Wool Selling Programs
Four Week Forecast
The Four Week Forecast (FWF) report is issued every Monday afternoon detailing the estimated national and regional bale quantities expected to be offered at Auction by sellers in the current week and the next two weeks.
The weekly estimates are aggregated values supplied to AWEX by each selling broker. Estimates can and do change from week to week subject to receival patterns and market price changes.
The Four Week Forecast is available to subscribers and NASC buyers and sellers.
Sale Rosters and Selling Arrangements
The Sale Roster and Selling Arrangements are compiled in the weeks leading into each Sale. These documents provide detail to brokers and buyers on how each Sale will be structured in terms of selling days, quantities, and selling orders.
National Auction Selling Committee (NASC)
The National Auction Selling Committee (NASC) was established by AWEX in 2004 to administer the conduct of auction sales on behalf of auction brokers and buyers. NASC meets at least four times per year and typically considers matters such as the Annual Wool Selling Programs and administrative matters relating to the auction sales.
NASC is compiled of 8 elected representatives (4 Buyers, 4 Sellers) with an Independent Chairman. Committee Members are elected by auction buyers and sellers for a three-year term. All regions (North, South, West) are represented on the Committee. AWEX provides all administrative and secretarial support functions to NASC.
Auction Handbook
The Auction Handbook is available to NASC registered buyers and brokers. This contains the Business Rules and Technical Parameters used to administer wool auctions.
Registration Forms
Buyers with Bidding or post sale Transfer agreements are to register with the declaration forms available under resources section.
The Wool Market: An Introduction
From time to time the Australian Wool Exchange receives requests from the public as to how to participate in the Australian Wool Market. To assist potential new entrants, a list of preliminary questions and answers has been prepared which are designed to help clarify your requirements. This document assumes the reader has limited, if any, knowledge of the wool industry and serves only as a basic introduction.
For further information please read the Wool buying document available under resources section.
Auction Catalogue
Every broker participating in a wool auction compiles and publishes a wool sale catalogue. This catalogue is provided in both hardcopy and softcopy (EDI) form. In the case of the EDI catalogue, this is transmitted to the industry EDI Network which in turn is downloaded as data into buyer and service provider databases.
A template of the hardcopy catalogue and the catalogue codes and symbols sets are available under the resources section.
Resources
Registration Forms
Reference to the Wool Market
Wool Appraisal
AWEX-ID & Appraisers
AWEX-ID is a wool typing system for the appraisal and description of non-measured characteristics of greasy wool. By combining AWEX-ID with presale objective measurements, a full and credible description for wool is possible.
AWEX Market Reports analyse and present price information using these measured and appraised wool characteristics.
Trained appraisers, registered with AWEX, supply AWEX-ID on greasy wool sale lots for the market reporting system. AWEX Appraisal Auditors regularly check appraisers' performance and provide feedback, helping to maintain uniform standards.
AWEX has established competency standards for appraisers. These standards are in use around Australia and provide the framework for programs used in training.
1PP Certification
1PP certificates are issued to a select group of superfine wools that exhibit superlative quality, style and soundness and are prepared in the best possible manner.
1PP DEFINITION
1PP - Wool produced in Australia of Australian Superfine (AS) breed criteria, fleece style 1 (choice)(ASF1), 16.9 micron and finer, 90/100s count visually, and containing 1.0% vegetable matter or less, at least 70mm in length unless wool is significantly finer (e.g. 15.0 micron), where a slightly shorter length will be accepted. These wools must exhibit superlative quality, style and soundness and be prepared in the best possible manner. Each bale must be a minimum net weight of 90 kilograms.
ADDITIONAL GUIDELINES
- 1PP Certificates were implemented to enable the wool industry to recognise the few lots that have reached the pinnacle of superfine wool growing excellence in all areas of breeding, preparation and quality standards.
- 1PP Certificates do not attempt to recognise the highest price, but the highest level of achievement in the pursuit to grow the highest quality wool in the world.
- Only wool displayed traditionally is acceptable for 1PP.
- Only wool grown in Australia is suitable for 1PP.
The approval criteria for 1PP certification is stringent and is carried out by a regional 1PP certification panel. This panel, which comprises of up to 5 members, is made up of industry participants with exceptional knowledge and experience in the area of superfine wools.
Frequently Asked Questions
These include supporting buyers and brokers in maintaining auction business rules, compiling rosters and selling arrangements for every Sale nationally, auditing wool samples for wool type to underpin its market information services, checking lots for wool classer clip preparation, and providing data entry services in the sale rooms.