A1118 - Auctioneering of livestock and/or machinery

Industry code: A1118
Premium rate: 2.26

Classification Facts

Class: A - Agriculture
Rate Code: A11 - Light Agriculture Operations
Subcode: 18


Operational Details
Livestock auctioneers primarily auction cattle; however, other animals may be auctioned off as well. Livestock auctioneers may provide facilities for receiving, selling and delivery of the livestock. Usually the livestock is brought in by the seller and consigned to the auction mart where it is weighed and then placed in a holding pen. The stock is often auctioned off the day after being received so the turnaround time is within a few days. Livestock auctions can be held on-site or off-site. Livestock auctioneers may provide services such as dehorning, branding, immunizations and other vet services as required.
Machinery auctions include the sale of heavy equipment, farm machinery and implements. This machinery is sold “as-is,” with no repairs or servicing. Arranging transportation is a supportive activity to the overall operations.

Services provided from an auctioneering business may include photography and internet advertisements, administrative work, contracting an auctioneer, balancing sales and paying the proceeds to the consignors. Transportation of the auctioned items is arranged, delivery or pick up, or contracted. Revenue is earned on a commission basis.
Livestock exchanges are included in this classification when the sale includes the transport of the animals from the seller to the purchaser. A livestock exchange is where livestock is being sold via internet, phone or email.

SIC Codes
000000018 - Auctioning of livestock
000000019 - Auctioning of machinery

Previous Codes

NAICS 2007
Code: 41111 - Live Animal Wholesaler-Distributors
41711 - Farm, Lawn and Garden Machinery and Equipment Wholesaler-Distributors
56199 - All Other Support Services