Genetic information for beef cattle in Australia has been provided through BREEDPLAN since 1972. The BREEDPLAN model estimates the genetic potential of livestock using Estimated Breeding Values. There is substantial evidence proving the accuracy of the latter from programs such as the Angus Sire Benchmarking Program. While BREEDPLAN is well regarded worldwide and is being continually updated and improved, there are substantial differences in the breeding programs of seedstock producers and continuing industry-wide debate about the weight to place on phenotypic and genotypic information when assessing an animal's breeding value. Genetic information available to the industry is considered to be underutilised, leading to lower rates of genetic gain than is technically possible and causing market inefficiency with a reduced incentive to record data. This research is aimed at investigating the influence of genetic and phenotypic information in the selection of Angus bulls and the prices paid for them. In this component of the study, a statistical analysis of bull sale data, it was found that indexes of breeding values were significant variables in explaining some of the difference in prices paid for Angus bulls. However, most of the difference in prices paid for Angus bulls is the result of other factors and is not explained by either measured genetic variables or the phenotypic variables.