Crazy Stats from Saturday Auction

If you follow my blog you know I love to analyze live auctions after we are finished.  You also know how closely I follow live auction trends and numbers in both the local Area & Nationwide.  I try to publish information for those that both attended and for those that couldn't make it.  Technically irrelevant information but so interesting I want to share anyway.  If you were at auction Saturday it is always intriguing to watch the crowd and analyze I am sure many of you do whether you mean to or not.  That is just part of what makes live auctions so much crazy fun.  Many companies would shy away from publishing numbers or stats but the facts are the facts and numbers are numbers.  And so here you go with some facts from Saturday....

If you looked around and weren't crowded and felt quite comfortable with plenty of room...You Were RIGHT!!  We had very soft overall registration for this size and overall quality of an auction with only 162 registered bidders....In fact the smallest crowd size we have registered for any auction we have done when we have sold over 1000+ lots.  This was our 14th auction with 1000+lots just as a sidenote so quite a bit of data to compare to.  When the hammer was finished dropping we sold an astounding 1248 Lots in less than 10 hours!!  That is a blazing fast action filled auction with 2 items per minute transferring ownership.  Those sales went to a very small purchasing crowd of only 138.  

Yes ONLY 138 buyers bought 1,248 lots.  Pretty crazy number and I sure thought there were a lot of great deals throughout that showed the numbers.  In statistical analysis that is an 11% item to buyer rate.  We are generally around 5% according to past auctions so very "buyer friendly" numbers on paper.  And some BIG loads were leaving the Bullseye as evidence.  AND out of the 138 buyer's 21 were new first time live auction buyers at the Bullseye which means only 117 return buyers.  Around 60% of the total gross amount of sale was spent by 13 buyers...a highly unique number.  I saved the most skewed number for last as we sold less than 5% of the sale to re-sellers~~buyer's with tax exempt licenses...which in relation to past auctions has averaged around 18%.  So what does this all mean?  

Nothing technically...BUT thought I would share.  As I have said in the past and is true now more than ever before..."You can NEVER guess anything when it comes to an auction"  And crowd size doesn't necessarily equate to anything either....but no doubt makes a difference over the long run.   Unpredictable doesn't begin to describe this business anymore.  When several asked why I decided to book all these live answer was mixed.  Of course to attempt to turn a profit & provide a needed service to the seller.  However, there is no doubt I am very intrigued to see the numbers, buyers, & statistics over the next few weeks just to compare past numbers and stats to see if anything can be concluded.   We'll be there selling whether there are 3 people or 300...and no matter whether there are 2% return buyers or a record number of resellers.  Guessing showing up will be a good idea if you love bargains...We Hope to see you there!