Online auction will be e-fish-ent

There’s something fishy going on online!

Cork based seafood business Paulona Seafoods Ltd this week announced a new online seafood auction, where buyers can bid for freshly caught Irish fish in real time.

It is the first time an online auction has been used in Ireland to sell seafood and it is helping to streamline the sale of freshly caught fish, as well as creating greater transparency in pricing, and opening up the market for the local fishing fleet.

The auction marks a new business direction for Joe Walsh, a second generation seafood entrepreneur, who set up Paulona Seafoods in 2001, supplying fresh Irish seafood to local and European markets.

By 2028, Joe said he aims to diversify sales channels for his business so that 95% of sales will come from the online auction.

He explained: “It’s a change of mindset for fishermen and a change of direction for the Irish market – if every other European country is doing it, why are we not? We are in a very different place – even ten years ago, logistics were much more difficult and we didn’t have an online capacity. We are two full months (in business). Two months in and 100% it works.

“If I’d thought of it earlier, I would have gone with it two or three years ago when we had an awful lot more fish. But we were happy plodding along. We were all getting half decent prices. From a company perspective, we are solely 100% Irish fish. Without Irish fish we’re nothing. At the end of the day, I’m no different to any other competitor, I have to think outside the box.”

The live online auction is partnering with French based seafood auction house, CCI Finistere, and is aligned with the Guilvinic auction. It currently takes place twice a week on Tuesdays and Fridays, and has access to 260 buyers.

Paulona Seafoods received investment of €179,425 under the Seafood Processing Capital scheme for the purchase of software for the online auction and an in-house prawn freezing facility to improve quality control and profitability. The funding was supported by the Government of Ireland and the EU under the European Maritime, Fisheries and Aquaculture Fund.

Bord Iascaigh Mhara (BIM) Interim CEO, Richard Donnelly, said: “This kind of innovation, and way of thinking, is strengthening the position and reputation of Irish seafood in the global marketplace and setting a powerful example for how we can grow tomorrow.”