A report by research firm MORPACE International on behalf of the National Auctioneers Association said the auction industry is growing faster than had been predicted. Gross revenue of auction companies has increased 13.5 percent from the same time period a year ago, which is a faster rate than the 10.6 percent growth rate projected last July for 2004. If this trend continues, the live auction business in the United States should grow to approximately $215.6 billion in 2004, according to the report. This is up from $189.8 billion in 2002 and $203.2 billion in 2003. (The figures do not include revenue generated from charity auctions.) A copy of the report is available on the National Auctioneers Association website.

http://www.auctioneers.org/publicRelations/pressReleases/morpaceupdate.php