The number of factory auctions reached a four-year high in the third quarter of this year, but the number of items looking for owners has dropped by three in 10.
According to Gigi Auction, a company specializing in hard and short-selling data, the total number of auctions for factories and manufacturing establishments held in courts across the country in the third quarter of this year was 828, up 54% from the third quarter of last year.
As of the third quarter, it's the highest in four years.
However, as demand decreased, the successful bid rate for factory auctions in the third quarter of this year was only 31%.
The winning bid rate was 68%, the lowest since the fourth quarter of 2020.
Despite the recent rate cuts, the factory auction market is not likely to be out of the doldrums for the time being, GZA said.
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