Auction Action Losing Traction

The auction market over the 2018 year to date has consistently weakened, with clearance rates reducing from the low 60% range to trend below 50% in October. The highest clearance rate for the year was back in late February (66.8%), and as clearance rates progressively decline; the spring selling season was highly anticipated as a test of market conditions.

Traditionally coming out of winter, the months following are usually seen as an optimal time to sell, with an increase in both the number…