This was sent my way the other day and I thought it was a great idea. CK6 Consulting recently approached Texas Beefhouse with a concept of taking beef to a live public auction. The DuVall family at Capitol Angus was fearless and willing to take on the challenge.
The CK6 team works in price discovery every day in the Angus seedstock business. In Q1 of 2024, they completed a run of sales totaling more than $21 million. They came up with an idea to take it to the next level, as it seemed there was no better way to market and add value to their genetics than through an auction sale for the actual beef. They worked on the concept for several months and have now built an online platform for bidding on beef directly from various ranch families.
The first sale in November had an incredible turnout, with over +800 online viewers, 100 buyers from across the country, and an average of $68.81/lb. on 774 lbs. of Angus and Wagyu primals and steaks. Four auctions later, with a gross of $166,135.58 in sales for an average of $31.18/lb. on 5,328 of beef, the proof is in the results. Consumers are empowered and engaged and are willing to pay a premium to source their beef from an American ranching family they can trust.
The Bid on Beef website reads…
At Bid on Beef, we are revolutionizing how American families procure the finest cuts of beef to enjoy with loved ones at home. We are passionate about caring for our land and cattle, and the result is high-quality, delicious, savory steaks, roasts, briskets, and burgers.
Our desire is to connect with the people we aim to serve by going direct to you, our customers. Through live beef auctions, we want to give you the opportunity to choose the cuts and the price of your beef!
From the comfort of your home, immerse yourself in the cowboy way as you bid on beef during our live beef auctions. With each bid, you become a part of something bigger – a community bound by a shared love for exceptional Angus and Wagyu beef and a commitment to supporting hard-working American ranchers.
We carefully vet each family farm and ranch with an incredible beef-eating experience in mind. Our guarantee on this platform is the premium Angus and Wagyu beef offered in our auctions is American raised, fed, processed, packaged, and delivered from the loving hands of our individual cattle ranching families.
Be a part of Bid On Beef where you’re the taste master and price maker. Select your cuts and join the fast-paced fun of the auction process. With your top bid, secure your favorite lot, savor the win and the thrill of victory, and buy with confidence, knowing that amazing beef is headed to your door!
I think it’s great to see farming and ranching families working hard to build new channels and business models that go directly to the consumer. I wish them all the best! You can Click HERE to see some of the upcoming beef auctions and the ranches involved.
