Gross sales revenues from live auctions are predicted to climb 6.8 percent in 2005 if current trends continue, and 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, according to an ongoing study conducted by 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 Auction Industry Research Study is funded by the National Auctioneers Foundation and 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.
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