We get this a lot because it's hard to believe something so useful could be low risk and low cost. Our vision is transparent price discovery for the Canadian grain industry. We are committed to helping connect buyers and sellers to negotiate a fair price - faster.
Traditional auctions come with a number of risks involved. Sometimes you have to take a lower price and you don't always know who you're selling to. Here are some ways we've mitigated these risks with the MGX auction platform.
1️⃣ Sell only if you get your price
Sellers can include a reserve price in their auction. So if bids don't hit at least the minimum value you are willing to take, there's no sale. Adjust your price and start again or use this market knowledge to inform your other sales decisions.
2️⃣All buyers are vetted and verified
We only approve grain companies who are licenses and bonded, or in good standing in the local marketplace. Our Founder, Merv Berscheid, has been brokering grain in SK for 30 years. He is committed to building a network of reputable companies he stands behind. Many businesses don't qualify for a CGC license (like feed buyers) but are still bondable and doing good business. But if you're only comfortable working with Licensed buyers, thats okay too! Just check that box when you set up your auction and only they can bid on your product.
3️⃣There are no fees when there's no sale
MGX wants to help users find the fair value of the commodity. If you list your grain at a price that's higher than the market is willing to pay and it doesn't sell there's NO CHARGE. Try again at a lower price, or wait. We only charge a 1% service fee to both parties at the close of a successful auction.
4️⃣Sample analysis gives buyers the confidence to bid
Merv believes knowing the quality of your product is the first step to making a successful sale. SGS provides unbiased sample analysis for all MGX listings. This helps you price your lot accordingly and gives buyers a solid basis of data to inform their bids. It also creates an opportunity to trade grain on quality attributes outside the standard CGC grading system. You DO have to cover the cost of your sample analysis but we have negotiated a discounted price with SGS for our users and we offer free shipping to get your samples in to us. Or you can drop them off at our location in Saskatoon.
We understand the skepticism surrounding the concept of low-risk, low-cost solutions, but our commitment to transparent price discovery sets us apart. Through our innovative approach, we've mitigated risks associated with traditional auctions, ensuring sellers get their desired price and only engaging with vetted, reputable buyers. Our no-sale-no-charge policy and the confidence of third-party sample analysis further reduce the risks associated with marketing your grain.
At MGX, we believe in empowering the grain industry with knowledge, trust, and efficiency. Join us in shaping the future of grain trading, where fair pricing and seamless transactions are the norm.
Comentários