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After the auction ends
When an auction comes to an end there are two outcomes:
- You won the auction
- You didn’t win the auction
You won the auction
Here’s what happens once you win an auction:
- You receive a Sale and Purchase Confirmation and Payment Request email. This tells you the Deposit Purchase Price, and the StockX trust account number.
- You deposit the Deposit Purchase Price into our trust account. You need to do this on the same day as the auction closes.
- Once we see the money in the account, we send an email to you and the seller, letting you both know we have received the funds. This allows the seller to release the stock for transport as they know the money is securely held in the trust account.
- You arrange suitable transportation for the livestock.
- You receive the livestock ensuring they match the listing details. If the livestock does not match you need to notify StockX with the issue/s immediately upon delivery and no later than 12 hours following delivery.
- You and the seller will receive a final trade value calculation which will show any value adjustments for differences in tally and/or weight for the stock delivered. This may result in a top-up required from you or a refund to be paid.
- We settle the trade from the trust account.
Transport
The buyer is responsible for organising and paying for the transportation of livestock bought through StockX. Once
you have deposited the total purchase price into the StockX trust account, you will receive an email confirming that
you can book the truck in to pick up the livestock from the seller.
You must liaise with the seller direct to agree on a time/day that suits all parties – seller, transporter and
buyer.
Acceptable variances
To ensure a smooth transaction experience we have worked with industry to define some acceptable variances from
which transactions will be expected to be acceptable and complete.
They are:
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