LSL auctions, one of the companies that provides online bidding services to marts, has announced that it is changing its model by which it generates revenue.

Up to now, LSL charged marts for the use of its online bidding platform, but from September 2024 users of the app will have to also pay to use it.

The LSL app is currently in use in approximately 40 marts in the country.

Membership charge

LSL is introducing a membership fee of €5 per month to ‘view only’ or a €10 per month charge to ‘bid and view’, commencing on 1 September 2024.

Users can pay on a monthly basis for either of the two membership options. A discounted annual membership of €50 per year is available for ‘view only’, while the annual membership for ‘bid and view’ is €100 per year.

Any membership fees paid between now and the end of July will only take effect from 1 September 2024.

Rising costs

Speaking to the Irish Farmers Journal, LSL’s Brendan Hannigan said LSL was first introduced to marts in April 2020 during the first COVID-19 lockdown.

"Since its introduction, the audience and bidding on LSL has dramatically increased.

"Due to increasing energy and overhead costs of running and broadcasting on the LSL platform, it is now necessary to introduce this membership fee to ensure the continuing development and services offered on the LSL platform and its sustainability into the future.

"We have consulted with marts over the last few weeks and taken their feedback on the changes being introduced,” he said.

Martbids, operated by the Irish Farmers Journal, and MartEye are the other two online bidding providers in the market.