2006- July Survey Results

Gross sales revenue of the live auction industry grew by 6.3 percent in the first half of 2006 as measured by recent surveys of NAA members.

Revenue of the auction industry for the first half of 2006 has skyrocketed in comparison to 2005 statistics. If this trend continues, this will result in approximately $255.4 billion in total revenue for the entire industry, up from $240.2 billion in 2005.

Residential real estate auctions, the hottest sector of all auctions, grew by 4.4 percent in the first half of 2006, up slightly from the 4.0 percent at the same mid-year point last year. Residential real estate grew at 8.4 percent overall in 2005 and has been the topic of widespread media coverage as a growing business niche.

"This research shows the continued growth and popularity of the auction industry," said NAA President William Sheridan, CAI, AARE, GPPA, of Mason, MI.

Funded by the National Auctioneers Foundation, the findings were gathered by the global market research firm MORPACE International. The study 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.

A detailed statistical report of full year 2005, with information on all sectors of the auction industry can be found by clicking the link at the bottom of this page.

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With more than 6,000 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. The organization was founded in 1949 and is headquartered in Overland Park, Kan. For more information on the NAA and its programs, visit www.auctioneers.org.