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Real Estate Auctions – up 12.5% in 2006! January 23, 2007

Posted by AlynnROCK Group in Auction News, Real Estate News.
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shelby-cobra.jpgAs reported today in the Kansas City Star, home of the National Auctioneers Association in Overland Park, Kansas, here are the latest statistics on overall growth of the Auction Industry: 

“Paced by substantial growth in sales of residential real estate, the auction industry grew by 7 percent in 2006, according to the National Auctioneers Association of Overland Park.

Overall, revenue for the industry grew 7.1 percent to $257.2 billion. Residential real estate auctions, the fastest-growing segment of the industry, grew 12.5 percent in 2006 to $17.2 billion. Charity auctions grew by 6.6 percent to $16.1 billion.

“These statistics show the auction industry has seen a progressive increase in the number of auctions and dollars generated in 2006 over previous years. Buyers and sellers are increasingly seeing the advantages the auction method brings to the sale and we are excited to be a part of this shift in public perception,” William Sheridan, the association’s president, said in a news release.

The industry survey was funded by the National Auctioneers Foundation. Information was gathered by the global market research firm MORPACE International.”

As a highlight that just validates this report, check out the story in the Detroit Free Press about the Shelby Cobra that sold at auction yesterday for $5.5 Million! 

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Comments»

1. Dean Guadagni - January 24, 2007

Stacy,
Thanks for the heads up! Real Estate Auctions “grew 12.5% to $17.2 billion” in 2006. I was surprised at the numbers. It is obvious that your business is a significant, viable, and important option for Realtors, sellers, and buyers in today’s market.
Dean


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