The Live Auction Industry
In 2008, the “live” auction industry sold over $268 billion in goods and services.
Consumers are willing to travel 1.3 hours to attend an auction and 75% of them bring their whole family to the sale.
Automobile auctions are the largest segment of the auction industry with over $83 billion in vehicles sold in 2008.
97% of attendees feel auctions are fun and 83% feel auctions are a way to get good values on items.
More and more consumers are turning to auctions as their marketplace of choice. Buying a car? Real Estate? Fine Art? An auction is where you will find these great deals and much, much more.
Real Estate Auctions in 2008
For six consecutive years, gross revenue from residential and land/agricultural real estate auctions increased. Sixty-three percent of survey respondents reported either an increase in gross revenue or no change in gross revenue from residential real estate auctions compared to 2007. It is estimated that approximately $58.6 billion in real estate was sold at live-auction in the United States last year.