We continue here with a 4-part series covering the recently released “Auction Industry 2010” research project conducted by the Broad College of Business at Michigan State University. This study was conducted by Dr. Forrest S. Carter, Associate Professor of Marketing and student researchers Marina Batchelor (lead), Kijun Yang, Sarah Andersen and Zoe Cai.
The study is broken into 3 basic parts, with a preface. I will also comment on some of the statistics presented.
Part II of the study concerned the auction business. A total of 1,972 respondents contributed to these statistics.
First, the typical auction business was profiled as such:
- A primary auctioneer with 3 or more employees
- Conducting a live auction approximately once per week
- Generating < $25,000 in gross commissions from 5 different types of auctions
- Specializing in estates/personal property/collectibles & antiques