The National Auctioneers Association (NAA) announced ground-breaking auction-industry research that for the first time documented live auctions gross sales. The report said live auctions in the U.S. account for $203.2 billion a year in sales. It also noted that more than 50 percent of Americans have attended live auctions.

According to MORPACE International, last year the value of all goods and services sold at live auction in the U.S. was $203.2 billion, representing a strong 4-percent jump over sales of $189.8 billion in 2002.

More than 50 percent of adult American consumers have attended a live auction, and 24 percent did so in the last year. Harris Interactive noted that 83 percent of Americans have attended an auction of some kind, and 63 percent did so in the last year. Seventy five percent of respondents say auctions are fun, and 50 percent say having fun is the reason they attend live auctions.

The top reasons Americans attend live auctions are the excitement of getting a good price (53 percent), they like to see what types of purchases are available (51 percent) and they get great purchase value (51 percent). Consumers who participate in live auctions typically take part in other auctions, such as online auctions.

Live-auction buyers spend almost twice as much as online buyers ($988 vs. $475). The Midwest has the greatest number of participants (34 percent) and purchasers (58 percent) in the U.S.

The study results were announced last week at the NAA's 55th International Auctioneers Conference and Show in Madison, Wisconsin.

"The exhaustive report from Harris Interactive and MORPACE International is of great benefit to our 7,000 worldwide members," said NAA CEO Robert A. Shively, CAE. "It's gratifying to know that our gross sales topped $200 billion last year, that we're a growing, thriving industry and that the public has such high enjoyment and regard for our services."

Shively also announced the NAA's plans to launch a website http://www.OnlyAtAuction.com . The Web site will be the hub of a community comprised of the auction industry and consumers. It will also have easily accessible information about auction sites and the auction experience for the public.

http://www.auctioneers.org