Asset Management & Recovery: Auction Industry Growth - Realtor Participation Helping

Gryphon USA, Ltd services clients through Gryphon Asset Management, Gryphon Realty Advisors and Gryphon Auction Group. Gryphon Asset Management manages operating entities and undertakes liquidation management in numerous business lines. Gryphon Realty Advisors is comprised of three divisions all working together; Residential, Commercial and Management. Projects range from single family investments and owner occupant reresentation to apartments and commercial complex disposition. Gryphon Auction Group assists clients with the sale of real property as well as commercial equipment.

Auction Industry Growth - Realtor Participation Helping

Auction industry continues to grow in a declining residential real estate market
 

The National Auctioneers Association (NAA) reports continued growth for the auction industry with a 5.9 percent third quarter increase as compared to the same point in 2005, translating into $254.4 billion total revenue projected for 2006.

The largest increase came from residential real estate auctions, which grew by 4.5 percent in the third quarter. Increasing use of the auction method of marketing to sell residential real estate has been the subject of widespread media coverage.

"These statistics show that the general public sees the value in selling their property by auction. Buyers and sellers are both turning to the auction method and we foresee this trend continuing to increase," said NAA President William Sheridan, CAI, GPPA, AARE.

In addition, forty-four percent of auctioneers say they have seen an increase in gross sales receipts in the first three quarters of 2006 as compared to the same period last year.

 

Funded by the National Auctioneers Foundation, the findings were gathered by the global market research firm MORPACE International. The study is commissioned by the NAA to document the growth of the live auction industry.


National Auctioneers Association

 

Do you have questions about distressed assets, receivership or bankruptcy sales, auctions?  Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.

Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com).  The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast. 

United Country Gryphon Realty & Auction Career Opportunities Available.  Call 614-885-0020 x 17

3 comments • Rich Kruse • October 10 2006 11:01AM

Comments

Intersting concept, but one that I have seen. That does not mean that it does not exist around here, but if it does it is not that well know.
Posted by George Souto NMLS# 65149 FHA, CHFA, VA Mortgages Connecticut over 5 years ago
Things take time George.  Auctions have been taking place since Roman times.  eBay has brought that into the main stream. 
Posted by Rich Kruse (Gryphon USA, Ltd.) over 5 years ago

Great post. Hopefully this will help folks understand this is just another tool that can be used to help clients.

Posted by Melissa Kruse (Gryphon ) over 5 years ago

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