Industry Update
National Auctioneers Association
NAA Releases 2005 First Quarter Results of Ongoing Industry Research Study
OVERLAND PARK, KAN. – Gross sales revenues from auctions are predicted to climb 6.8 percent in 2005 if current trends continue. This would bring the value of all goods and services sold at auction in 2005 up to $216.4 billion by the end of the year.
These are the findings documented in a quarterly report of auction industry growth being conducted by global market research firm MORPACE International on behalf of the National Auctioneers Association (NAA).
“The research continues to reaffirm the strength and vitality of the auction industry,” said Mike Jones, CAI, GPPA, NAA president. “Our members are providing needed and wanted services for consumers around the country and this growth reflects their success.”
The following are some other key findings documented in the quarterly report:
Among NAA members, gross revenues for the first quarter of 2005 have increased 5.3 percent from the same period one year ago.
Forty-four percent of NAA auctioneers say they have seen an increase in overall gross sales revenue receipts for the first quarter of 2005.
Seventeen percent of NAA auctioneers say they have seen no change in gross sales receipts for the first quarter of 2005 compared to last year.
First quarter gross revenues from residential real estate auctions are up almost 10 percent. Gross revenues from commercial and industrial real estate auctions are up 6 percent, while land and agricultural real estate revenues are up 3.7 percent.
Funded by the National Auctioneers Foundation, the Auction Industry Research Study was commissioned by the NAA in 2003 to study and document the growth of the live auction industry. Results of the initial study were released in July 2004 and updates are being conducted on a quarterly basis.
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With more than 6,500 members from throughout the world, the National Auctioneers Association is the largest organization of its kind dedicated to promoting the auction method of marketing and enhancing the professionalism of its members. Member benefits range from federal legislative representation to comprehensive continuing education programs, including coursework to earn the following professional auctioneer designations: Certified Auctioneers Institute (CAI), Accredited Auctioneer, Real Estate (AARE), Graduate, Personal Property Appraiser (GPPA) and Certified Estate Specialist (CES). The organization was founded in 1949 and is headquartered in Overland Park, Kan. For more information on the NAA and its programs, log on to www.auctioneers.or g.
National Auctioneers Association
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