MANHATTAN, Kan. (June 22, 2009) – According the National Auctioneers Association, overall auction revenues were down almost $2 billion dollars in 2008 compared to the previous year. The only area experiencing any growth was the agricultural and heavy equipment categories.

“In 2008, the fastest growing sectors of the live-auction industry were agricultural and machinery and equipment auctions and residential real estate,” reported an NAA press release, “Three sectors of the industry witnessed significant decreases last year, most likely the result of a poor performing economy: Art, antiques and collectibles, automobiles, and personal property.”

According to the NAA’s research, the only auction category to experience growth was agricultural machinery & equipment with over $300 million dollars more gross sales revenue in 2008 over 2007. All other areas experienced declines in 2008, but were still higher when compared to five years prior.

“In today’s troubled economy, the equipment auction sector continues to hold strong,” said NAA spokesman Chris Longly. “Owners of heavy equipment and farm machinery use auctions to turn their assets into cash while buyers utilize auctions to find valuable assets at fair market value.”

Some companies responded to the shifting market by growing their capabilities to serve construction, ag and heavy equipment sellers. Purple Wave Auction in Manhattan, Kansas, launched a new company division to springboard off of its string of major equipment auctions and to capture the market growth. Since December 2008, Purple Wave’s sales volume increased over 40 percent in the agricultural, construction and heavy equipment asset categories.

“We’re seeing more opportunities and experiencing even greater success for our sellers in the equipment auction market,” said Purple Wave CEO and Founder Aaron McKee.

Over $31 billion dollars of equipment was sold by NAA members in 2008. Purple Wave believes the figure can grow higher in 2009 if more sellers chose auctions over the traditional secondary market.

“Our equipment division is made up of professionals who have worked for companies like Caterpillar, John Deere, and Martin Farm Power,” said McKee, “They understand the market and know what will create a successful outcome for clients with equipment to sell.”

For many sellers, speed and convenience are the main reasons why they are choosing auctions to sell their equipment. And, partnering with an experienced and professional auction firm is certainly helpful when it comes to getting good recoveries.

“We needed to dispense of construction equipment quickly to make room for newer inventory,” said Tony Shore of Tasco Equipment, who has hired Purple Wave Auction recently. “Considering the condition of the assets and the market, the auction did as good as we could ever expect.”­

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Purple Wave Auction is a full-service, Internet auction company headquartered in Manhattan, Kan. Specializing in vehicle, agricultural, construction and heavy equipment auctions, Purple Wave combines traditional auction services with innovative auction technology. For more information about Purple Wave, go to www.purplewave.com or email auction@purplewave.com.

“We’re all very proud of and impressed by Aaron’s achievement. The expertise and dedication he’s brought to Purple Wave is sure to be an invaluable tool for the educational institute,” said Aaron McKee, president of Purple Wave.

Traffas is one of two trustees to be selected in 2009, and will provide guidance and oversight to all NAA educational offerings. According to Harlan Rimmerman, director of the NAA Educational Institute (EI), to become a Trustee individuals must be NAA members for not fewer than five years and hold a recognized designation. Trustees serve a four-year term as a member of the nationally recognized board of trustees.

“Aaron was chosen because he had excellent credentials and has been a very active and productive member of the NAA,” said Rimmerman, “He is the youngest Trustee since I’ve been involved with EI and possibly the youngest ever.”

Though young, Traffas already earned several of the industry’s most coveted professional designations. By completing the three-year Certified Auctioneers Institute (CAI) at Indiana University and also earning the Certified Estate Specialist (CES) designation, Traffas is part of an elite percentage within the auction profession. In 2007, Traffas served on the Auction Technology Specialist (ATS) curriculum development team. Currently, his is also one of two auctioneers involved in teaching the class to throughout the country.

“My experience with system development at Purple Wave lead directly to my involvement with the creation of the NAA’s Auction Technology Specialist designation course,” said Traffas, “The NAA has been very important to my growth as an auctioneer and to Purple Wave’s growth as a company.”

Purple Wave Auction is a full-service, Internet auction company headquartered in Manhattan, Kan., with locations in Kansas, Missouri, Iowa and Nevada. Purple Wave specializes in commercial real estate, land, and agricultural/industrial equipment, as well as other types of property using its combination of in-person marketing and Internet bidding at www.purplewave.com.