Livestock Live Ltd. (LSL), a London-based Irish company, has just launched the first online trading platform for buying and selling livestock here.

According to Brendan Hannigan, CEO of LSL, the company has already secured an agreement from one of Ireland’s leading livestock exporters to buy and sell over 200,000 animals per year on the platform.

While registration is free, LSL will charge the seller €10 to enter an animal into an auction, which can be from one day up to 30 days.

Buyers must pre-fund their account to bid. Once a bid is accepted, the buyer will be charged €10. The company will then transfer a deposit of 10% of the purchase price to the seller to secure the animal. On confirmed collection of the animal, the remaining 90% will be transferred.

Hannigan says that the site offers a secure payment system because bidders are required to pre-fund their account in advance.