| Industry Update: Auction Industry Growth Continued in First ...
KANSAS CITY -- Gross sales revenues from auctions by NAA members in the first quarter of 2007 increased 2% over the same-time period one year ago, a study by the NAA has found. If this trend continues, this 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% 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% growth rate occurred for all of 2006 over the previous year. The first quarter growth last year was 5.7%. 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).
More Than 4000 Bidders Attend the Ritchie Bros. Auctioneers Grande ...
GRANDE PRAIRIE, ALBERTA -- (MARKET WIRE) -- 04/23/07 -- Ritchie Bros. Auctioneers (TSX: RBA)(NYSE: RBA), the world's largest auctioneer of industrial and agricultural equipment, announces the results of its large Grande Prairie, Alberta auction held April 18 and 19, 2007. A record 4,300 registered bidders from 15 countries attended the unreserved auction. They came from all 10 Canadian provinces and two territories, as well as 31 U.S. states, generating over CA$26 million (US$23 million) in gross auction sales. The previous registered bidder record for the site was 2,300 people. "We usually hold separate agricultural and industrial auctions in Grande Prairie in the spring," says Ritchie Bros. Regional Manager Brian Podruzny. "We decided that instead of holding separate sales, we would combine them - which both buyers and sellers seemed to appreciate at the auction last week." More than 2,200 lots were sold over the two-day auction, with the first day concentrating on trucks and industrial equipment.
Maine fishing industry and its fish auction in jeopardy
PORTLAND, Me. (AP) - The forklifts zig and zag through the chilled warehouse, their forks balancing plastic crates filled with cod, haddock, pollock, flounder and other catch hauled from the North Atlantic. The smell of fresh fish hangs heavy in the air on a recent Sunday as more than a dozen buyers for seafood processors and wholesalers slide into their seats at the Portland Fish Exchange, a commercial fish auction that's been around for 21 years. Spread on the tables before them are sheets listing the types and amounts of fish to be sold. Telephones are pressed to their ears. They've already inspected the catch so auctioneer Paul Dewey begins the bidding. "I have 88 cents, looking for nine. I'm looking for nine," Dewey says in rapid-fire fashion as he auctions off a batch of pollock.
The Importance Of Options
A recent survey by Manheim Auctions once more highlights the effect that factory-fitted options can have on a car's resale value. Manheim asked nearly 100 of its top used car buyers for their opinions on the effect of various optional extras on family cars, compact executives and full-sized executives. The results showed a similar trend in all three categories, with leather upholstery and satellite navigation having the most beneficial effects on residuals. The right paintwork was also considered important, with some respondents saying they wouldn't even bid on a car at auction if the colour was wrong, and especially if it was solid rather than metallic. In approximate order of importance, the other main influences on resale prices were climate control, a sunroof and a DVD/TV system.
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