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According to the latest research, the global Auction Professional market size was valued at USD 30746.0 million in 2022 and is expected to expand at a CAGR of 6.84% during the forecast period, reaching USD 45732.0 million by 2028.
An auction is a sales event wherein potential buyers place competitive bids on assets or services either in an open or closed format. There are many products for auction, including automotive, boats, antiques and valuables, heavy machines, real estate, households and office furniture, etc. Currently, auction service providers can undertake bankruptcy, voluntary sale and other types of auctions.
The growing global art auction market
In recent years, the number of high net worth individuals (HNWI) worldwide has been growing. According to the "World Wealth Report 2022", in 2021, due to the economic recovery boosted by the stock market, the overall number of global high-net-worth individuals (HNWI) will increase by 7.8% in 2021, and their wealth will increase by 8%. The increase in the size of high-net-worth individuals is a real impetus to the development of the art collection market, especially the high-end market. High-net-worth individuals (HNWI) usually pay more attention to collectibles such as art, luxury goods, jewelry, and famous watches. Therefore, with the growth of high-net-worth individuals (HNWI), the art auction market is also expanding. At present, the United States, China, France, the United Kingdom and other countries have become more active regions in the art auction market.
In addition, thanks to the accelerated online deployment of auction houses, online auctions of artworks have become popular rapidly. Online previews, online bidding, and online settlement have become the norm. Online auctions have gradually become a new channel for the growth of art auctions.
The development of the global used car industry has driven the auto auction industry
In 2021, global auto production will be short of more than 11 million vehicles due to semiconductor shortages, and its impact on the U.S. auto industry will be particularly pronounced. According to a September 2021 survey by Statista, limited vehicle selection due to shortages is a major factor affecting car buyers' experience. Against this backdrop, used car sales are gaining popularity. So, as the demand for used cars increases, so does the supply of vehicles available for auction. This creates more potential buyers for the auctioned vehicles, which helps to increase the demand for auction services.
At the same time, increasing average lifespan of vehicles, growth of Internet users, increase in car accidents, increase in auction pricing revenue per vehicle, strong international demand, and many other factors are also driving the auction market for used cars.
Region Overview:
United States had the highest growth rate of all regions
Company Overview:
Copart, Manheim , Insurance Auto Auctions, Inc. were the top 3 players in the Auction Professional market in 2023.
Copart
Founded in 1982 with a single salvage yard in California, Copart has grown into a global leader and the premier source for online vehicle auctions. Copart’s innovative technology and online auction platform link Buyers and Sellers around the world. Headquartered in Dallas, Texas, Copart currently operates more than 200 locations in 11 countries and has more than 175,000 vehicles up for auction every day.
Manheim
Manheim is a provider of wholesale vehicle auction services to automotive dealerships, banks, car rental agencies and auto manufacturers The company engages in a range of wholesale services, including decisions, buying and selling, floor planning, logistics, assurance and reconditioning. enabling commercial clients to increase their profits and efficiencies in their used vehicle operations.
Segmentation Overview:
Among different product types,Offline Sales segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Automotive segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Auction Professional industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Auction Professional. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Auction Professional Market Report Include:
Market Size Estimates: Auction Professional market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Auction Professional market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Auction Professional market
Segment Market Analysis: Auction Professional market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Auction Professional market situations and prospects in major and top regions and countries
Auction Professional Market
Auction Professional Industry Chain: Auction Professional market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Auction Professional Industry News, Policies by regions
Auction Professional Industry Porters Five Forces Analysis
Key players in the global Auction Professional market are covered in Chapter 2:
Sotheby's
ACV Auctions
Hubzu
Copart
Insurance Auto Auctions, Inc.
WIlliams & WIlliams
Bonhams
The Mecum Auction Company
Auction.com
Phillips
Manheim
Christie's
BCA Group
ADESA
Heritage Auctions
In Chapter 6 and Chapter 9, on the basis of types, the Auction Professional market from 2018 to 2028 is primarily split into:
Automotive
Boats
Antiques and Valuables
Heavy Machines
Real Estate
Households and Office Furniture
Others
In Chapter 7 and Chapter 10, on the basis of applications, the Auction Professional market from 2018 to 2028 covers:
Online Sales
Offline Sales
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Auction Professional market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Auction Professional industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Auction Professional market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Auction Professional industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Auction Professional market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Auction Professional market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Auction Professional market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
An auction is a sales event wherein potential buyers place competitive bids on assets or services either in an open or closed format. There are many products for auction, including automotive, boats, antiques and valuables, heavy machines, real estate, households and office furniture, etc. Currently, auction service providers can undertake bankruptcy, voluntary sale and other types of auctions.
The growing global art auction market
In recent years, the number of high net worth individuals (HNWI) worldwide has been growing. According to the "World Wealth Report 2022", in 2021, due to the economic recovery boosted by the stock market, the overall number of global high-net-worth individuals (HNWI) will increase by 7.8% in 2021, and their wealth will increase by 8%. The increase in the size of high-net-worth individuals is a real impetus to the development of the art collection market, especially the high-end market. High-net-worth individuals (HNWI) usually pay more attention to collectibles such as art, luxury goods, jewelry, and famous watches. Therefore, with the growth of high-net-worth individuals (HNWI), the art auction market is also expanding. At present, the United States, China, France, the United Kingdom and other countries have become more active regions in the art auction market.
In addition, thanks to the accelerated online deployment of auction houses, online auctions of artworks have become popular rapidly. Online previews, online bidding, and online settlement have become the norm. Online auctions have gradually become a new channel for the growth of art auctions.
The development of the global used car industry has driven the auto auction industry
In 2021, global auto production will be short of more than 11 million vehicles due to semiconductor shortages, and its impact on the U.S. auto industry will be particularly pronounced. According to a September 2021 survey by Statista, limited vehicle selection due to shortages is a major factor affecting car buyers' experience. Against this backdrop, used car sales are gaining popularity. So, as the demand for used cars increases, so does the supply of vehicles available for auction. This creates more potential buyers for the auctioned vehicles, which helps to increase the demand for auction services.
At the same time, increasing average lifespan of vehicles, growth of Internet users, increase in car accidents, increase in auction pricing revenue per vehicle, strong international demand, and many other factors are also driving the auction market for used cars.
Region Overview:
United States had the highest growth rate of all regions
Company Overview:
Copart, Manheim , Insurance Auto Auctions, Inc. were the top 3 players in the Auction Professional market in 2023.
Copart
Founded in 1982 with a single salvage yard in California, Copart has grown into a global leader and the premier source for online vehicle auctions. Copart’s innovative technology and online auction platform link Buyers and Sellers around the world. Headquartered in Dallas, Texas, Copart currently operates more than 200 locations in 11 countries and has more than 175,000 vehicles up for auction every day.
Manheim
Manheim is a provider of wholesale vehicle auction services to automotive dealerships, banks, car rental agencies and auto manufacturers The company engages in a range of wholesale services, including decisions, buying and selling, floor planning, logistics, assurance and reconditioning. enabling commercial clients to increase their profits and efficiencies in their used vehicle operations.
Segmentation Overview:
Among different product types,Offline Sales segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Automotive segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Auction Professional industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Auction Professional. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Auction Professional Market Report Include:
Market Size Estimates: Auction Professional market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Auction Professional market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Auction Professional market
Segment Market Analysis: Auction Professional market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Auction Professional market situations and prospects in major and top regions and countries
Auction Professional Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Auction Professional Industry Chain: Auction Professional market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Auction Professional Industry News, Policies by regions
Auction Professional Industry Porters Five Forces Analysis
Key players in the global Auction Professional market are covered in Chapter 2:
Sotheby's
ACV Auctions
Hubzu
Copart
Insurance Auto Auctions, Inc.
WIlliams & WIlliams
Bonhams
The Mecum Auction Company
Auction.com
Phillips
Manheim
Christie's
BCA Group
ADESA
Heritage Auctions
In Chapter 6 and Chapter 9, on the basis of types, the Auction Professional market from 2018 to 2028 is primarily split into:
Automotive
Boats
Antiques and Valuables
Heavy Machines
Real Estate
Households and Office Furniture
Others
In Chapter 7 and Chapter 10, on the basis of applications, the Auction Professional market from 2018 to 2028 covers:
Online Sales
Offline Sales
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Auction Professional market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Auction Professional industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Auction Professional market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Auction Professional industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Auction Professional market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Auction Professional market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Auction Professional market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
