Auction sales volumes have rebounded to a level consistent with, and on some days higher than, this time last year, despite most auctions continuing to operate under an all-digital platform.
The graph illustrates the estimated year-over-year change in sales volume of the wholesale market. The red line is the base line, and any dots above the line indicate higher amounts of sales versus the prior year.
Photo: Black Book
Auction sales volumes have rebounded to a level consistent with, and on some days higher than, this time last year, despite most auctions continuing to operate under an all-digital platform.
This is being driven by strong retail sales, consumer demand, and the need to backfill, leading dealers to use auctions as their main source of inventory, according to data from Black Book.
The number of sales bottomed out around an 80% year-over-year decline when most auctions closed their physical sales (and some closed entirely) at the end of March.
Meanwhile, sales rates at auction have been climbing each week since the pandemic’s outbreak and have now stabilized.
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