Auction Industry Update
Second Quarter Results of Research Study Show Auction Industry Continues Strong Growth
PITTSBURGH, PA. - Gross sales revenues from auctions are predicted to climb 7.2 percent in 2005 if current trends continue. This would bring the value of all goods and services sold at auction in 2005 up to $217.3 billion by the end of the year.
These are the findings documented in a second quarter report of auction industry growth recently conducted and released by global market research firm MORPACE International on behalf of the National Auctioneers Association (NAA). These statistics were presented this week to NAA members by MORPACE International Senior Vice President James M. Leiman, Ph.D., during the 2005 International Auctioneers Conference and Show in Pittsburgh, Pa.
"Our growth continues to be strong, which reflects the demand and need for auction services by consumers," said Dennis Kruse, CAI, NAA president. "We continue to be pleased, but not surprised, by these research statistics. We know our industry is valuable and these figures just reinforce that."
The following are some other key findings documented in the quarterly report:
More than half of NAA members say they have seen an increase in gross revenues for the first half of 2005 compared to a year ago.
Twenty-seven percent of NAA auctioneers say they have seen no change in gross sales receipts for the second quarter of 2005 compared to last year.
2005 gross revenues from residential real estate auctions are up 4 percent for the first half of the year. Gross revenues from commercial and industrial real estate auctions are up 4.8 percent, while land and agricultural real estate revenues are virtually unchanged.
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.
* * *
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. For more information on the NAA and its programs, log on to www.auctioneers.org
National Auctioneers Association
--------------------------------------------------------------------------------
email: naamemberservices@auctioneers.org
voice: 888-541-8084
web: http://www.auctioneers.org
|
