Tradeforus Forestry Ltd. – a new online forestry trading platform – recently held its first successful online auction, and will soon announce a date for a second one.
This first auction of timber, forestry land, and harvesting rights included a fixed number of holding lots and generated a significant interest among a range of buyers and sellers, according to the business.
Besides individuals with significant private forestry holdings, farmers in the forestry sector and fund-management institutions also participated.
Commenting on the event, chief executive at Tradeforus Forestry Ltd., Michael Broderick said:
“We are really pleased to have successfully completed our first auction. What we are doing is the first of its kind for the private-forestry sector in Ireland.
“It is clear that a real appetite for new and convenient ways to trade exists among buyers and sellers of private forestry in Ireland.”
As a joint venture between agri-tech provider, tradeforus.com and leading timber harvesting company, Euroforest Ireland, the online trading platform facilitates sellers and buyers to bid online on selected auction days.
Each online auction is independently audited and overseen by financial advisory experts at Ifac, according to the business.
Broderick said that their technology platform received positive feedback from buyers and sellers including follow-up queries from private owners with a range of property sizes.
He added:
“The traction we have gained with forestry buyers and sellers over recent months is also allowing us to build up a depth of data on the sector as a whole.”
The chief executive explained that gathered forestry data can assist in addressing the gap in marketing information which currently exists in the sector.
Tradeforus Forestry Ltd. encourages anyone interested in buying or selling property related to forestry including timber, land and harvesting rights to engage with them.