Instead of a typical auction format where buyers have two minutes to bid, they have five hours per day. The company sold more than 100,000 head through its Web site during its first year. Cattle are listed along with details such as vaccination history, breeds, frame and condition. They are posted with an asking price. Buyers can pay the asking price and the cattle are sold, or they can place a bid.
Sellers have the option to accept bids, adjust their asking price or wait for more bids.
The cattle are sold when one party accepts the other's offer. On Friday afternoon all bids go off the board, and they start again on Sunday night. The site lists 10,000 to 12,000 cattle for sale per week on average, currently only in load lots. They deal mostly west of the Mississippi River and claim to receive 1,000 to 1,200 visitors to the site per day, with more than 500 buyers signed up. There's no consignment fee, nor is there a penalty for no-sales.