Sydney Fish Market

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Sydney Fish Market
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• SFM AUCTION SYSTEM
• SFM has been using the Dutch Clock Auction since
  1989. Adopted from the Dutch tulip auctions, the
  system ensures product is sold quickly while
  achieving premium prices.
• SFM AUCTION CLOCK
• The clock contains all the information about the
  auction in progress, detailed belowAuction
  Number   The number of the action.Bids
  Enabled   Shows the auction in underway. Outer
  Ring   Shows the falling price of the lot being
  auctioned. Each revolution takes three seconds
  and reduces the value buy 1.Price   Dollars
  and cents per kilogram.Buyer   The successful
  bidders name.Crates Remaining   The number of
  crates left in the lot.Crates Maximum  The
  maximum number of crates each bidder may
  purchase. Description  Details of the lot
  currently being auctioned including location on
  the market floor, number of kilograms in each
  crate, suppliers name and seafood species, as
  well as size and processing information.
• SFM AUCTION
• Held from 5.30am every weekday, the Dutch clock
  auction is a silent auction which begins at the
  highest price and drops until a bid is made. The
  starting price is usually set about 2 above what
  the product is expected to receive. Two clocks
  auction seafood simultaneously to ensure product
  is sold quickly.Under the Dutch clock auction
  around 1000 crates are sold every hour. On
  average each crate weighs 23 kilograms. SFM sells
  around 2700 crates at every auction, or 65 tonnes
  of fresh seafood every day.While the majority
  of produce is sold through the Dutch clock
  auction a traditional voice auction is used for
  live crustaceans and sashimi tuna.

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