Buying on Vesper

This article will walk you through the steps to make purchases on Vesper, helping you find the best deals on agri-commodities like Skimmed Milk Powder (SMP) and Butter.

Getting Started with Your Purchase

Before making a purchase, ensure you have completed these prerequisites:

• Account Setup
  Make sure your account is active and verified. You will receive your login credentials from our support team.

• Approved Partners
  Confirm that you have a list of approved factories and traders you want to engage with. This ensures a secure and seamless transaction experience.

Step-by-Step Instructions for Buying

1. Access the Market Overview

• Log in: Use your credentials to log into your Vesper Marketplace account.

• Navigate to Market Overview: View the current bids, offers, and completed deals to understand the market conditions.

There are primarily two paths for buying and selling on the Vesper Marketplace. For buying, users can create a bid or respond to offers from approved partners or factories.

2. Search for Products

• Use Filters: Narrow down your search using options like:

  • Product Type: (e.g., SMP, Butter)

  • Factory: Select from your approved factories.

  • Price Range: Set your desired budget range.

• Explore Listings: Browse through the available bids and offers that meet your criteria to spot opportunities.

3. Review Product Details

• Click on a Listing: Check detailed information, including:

  • Specifications: Quality, age, and packaging.

  • Origin: Factory or supplier offering the product.

  • Price & Terms: Review the proposed price and any conditions.

4. Create Your Bid

• Go to “Create Bid” in the marketplace.

• Select Approved Factories: Choose from your list of approved factories.

• Specify Product Details:

  • Product Type (e.g., SMP, Butter)

  • Volume: Indicate quantity.

  • Proposed Price: Set a competitive price based on market research.

• Submit Your Bid: Once complete, submit your bid for sellers to review.

5. Engage in Negotiations

• Receive Seller Responses: Wait for sellers to respond with their offers.

• Counter Offers: If a seller’s offer doesn’t meet your expectations, use the “Counter Offer” feature to propose changes in price or volume.

• Finalize Terms: Discuss and adjust until both parties reach a mutually beneficial agreement.

6. Confirm the Deal

• Accept Final Offer: Once you reach an agreement, confirm your acceptance.

• Finalize the Deal: Identities of both parties are revealed.

• Proceed Offline: Arrange payment and delivery directly with your counterparty outside the platform based on the agreed terms.

Tips for Successful Buying

1. Choose the most standard options where possible - If you are flexible on certain dimensions (e.g., packaging), select the option that is most common when creating bid.  

2. Select your minimum requirements when creating a bid - Select only the requirements that you really need during a bid, e.g., if you only need "Halal" certification, just select that specific option

3. Use the Market Overview to inform your bidding strategy - Keep an eye on the  All deals tab during the trading window to see at which prices transactions are concluded. Switch to All bids to see what other buyers are doing and don't forget about All offers to see the starting offers of sellers.  

4. Communicate effectively with your counterparty after the deal - Once the identity of the seller is known, take a look at the contact details to follow-up. If you want adjust the details of the transactions based on existing agreements, communicate openly and clearly with your seller