Gimme the Numbers FatboyGlen

Yah...going back to the good old online poker days with my screen name there.  We just wrapped up 4 live auctions in a span of 14 days....and if you follow my blog you know how I have talked about the difficulties with live auctions in today's market vs. previous years back.  If you haven't followed and are just reading I have posted numerous times about how live auctions have become difficult to market, lost interest due to companies charging buyer's premiums and many unethical practices, & a big change in demographics.  This is a very difficult thing to analyze based on size and quality but still interesting...Here are some numbers...you decide and then I will give you my prognosis:

In the four live auctions we registered a total of 159 individuals.  Over the span of those auctions we sold 1006 "lots" to a total of 88 actual separate buyers over the span.  That is an average of over 11 items per buyer...crazy high number based on past auctions.  Of the 88 buyers, 16 buyers (repeat buyers) purchased items at 3 or 4 of the auctions over the span.  Of the 88 buyers...23 were "new" customers to Bullseye...we had on 55 repeat Bullseye buyers at the four auctions.  Nearly 50% of the total items were purchased by 11 buyers.  Yes...11 buyers bought around 500 of the lots.  Of the 159 registered...only 12 were under the age of 35.  100% of buyer's paid in full...THANK YOU!! 

My Prognosis:  I felt we had a successful run of "on-site" smaller auctions and thank all that attended...Sure was a LOT of fun and November will certainly be interesting to watch as we bring a couple superb estates to market that don't even compare to these.  These four previous auctions weren't huge nor high value auctions and this business is tough to reference so not reading a lot into the numbers.  Sellers were happy and that is all that truly matters in the end.  Absolutely no doubt there were some incredible bargains and have already heard of some great finds in boxes at a couple of these auctions.  Congrats!

I will say the one stat that jumps off the page is the demographics...I have blogged and blogged about how the demographics of the live auction business have changed dramatically from the old days.  The number of live auctions in the Region and Nationwide have fallen off a cliff because of demographics and lack of commercial re-sellers (in my opinion of course).  And no doubt if you compare live auction demographics to online demographics...The average age of buyers is stunningly different.  Many young buyers simply don't know about live auctions, are simply too busy, or have been to one and got hosed by a hidden buyer's premium or fee and never go back.  Who knows...but as an auction industry lover I sure wish we could get the younger generation interested...reality may just not be in the cards.  We'll see what happens going forward..I truly love working live auctions and all our incredible customers....but In the end...It's all in the numbers.  Hope to See you soon!