Gross sales revenues from auctions by the National Auctioneers Association (NAA) members in the first quarter of 2007 increased 2% over same time period one year ago, a study by the NAA has found. If this trend continues, it will translate into approximately $266 billion total revenue for 2007 for the entire auction industry, up from $257.2 billion in 2006, a projected 3.4% percent increase for all of 2007.
This suggests the possibility of a slightly slower growth in the live auction industry in 2007 compared to 2006, when a 7.1 percent growth rate occurred for all of 2006 over the previous year. The first quarter growth last year was 5.7 percent.
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).
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