Weather vs. Auctions

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KABUL, Afghanistan (June 03, 2010) – The sun breaks through rainclouds at Kabul International Airport. (Photo by U.S. Navy Petty Officer 1st Class Mark O’Donald/Released)

 

Oh weather, the catalyst of small talk. If affects us on a daily basis from what we decide to wear, what we drive, or the mood we’re in when we get to our destination.

I came across this blog post recently in regards to how weather can affect the value of a property on auction day. It definitely caught my attention as I’ve always wondered the actual correlation between weather and auction results.

I guess it would all depend on the type of auction, whether it be an estate sale, property, farm equipment sale, etc., they would all have their varied outcome due to inclement weather.

In the article, it does deduce not only a rainy day will bring down the price of a property auction but even just a cloudy day could drive the price down 2.8% due to thinner crowds creating less competition. For an auctioneer it is hard to avoid bad weather come auction day as it can creep up on you pretty quickly, but if you know rough weather is heading your way should you postpone?

I attended a consignment farm equipment auction back in November, on probably the first snow of the season. It was cold, snowy, but there was a huge turnout. I spoke with the auctioneer after the sale and he said it was a great success, even with the rough winter weather.