FOR IMMEDIATE RELEASE

4th Biennial QUIKSILVEREDITION HAWAIIAN? ISLANDS? VINTAGE? SURF? AUCTION?

Record $650,000 at Vintage Surf Auction

Honolulu (Tuesday, July 24, 2007) - The fourth biennial Quiksilveredition Hawaiian Islands Vintage Surf Auction reached record heights this past Saturday, July 21st, with over $650,000 in sales and a 94 per cent sell through rate. By comparison, the previous Vintage Surf Auction, held in 2005, turned over $300,000 - a record at the time. A portion of sales from this year's auction will be donated to the Outrigger Duke Kahanamoku Foundation Scholarship Fund.

Surfboards - both foam and wooden, were the top performers, shattering records and far exceeding all pre-auction estimates. The 11-foot Buzzy Trent Model "Surfboards Hawaii" elephant gun from the 1960s, shaped by Dick Brewer, was the star of the show, closing at $33,000 - more than double its pre-auction estimate of $15,000 (pictured below).

"With only three of these boards known to be in existence, this was the equivalent of a car collector coming across a special edition handmade Ferrari," explained auction producer Randy Rarick.?

Hot on the heels of the Buzzy Trent model was the highly prized, original, 5-foot, redwood "Alaia" board from 1895, that sold for $27,000. In all, the six wooden boards in the auction fetched in excess of $100,000.

"While many of the foam boards were collectible because of their notable shapers and riders, the wooden boards are highly desirable purely because of their historic significance," explained Rarick. "They are true artifacts."

Record-breaking prices were fueled by a stellar turnout of surf stars from the 1960s and '70s, who were in attendance to auction off their own personal equipment. Among them were four-time world surfing champion Mark Richards, Pipeline Masters champions Gerry Lopez and Rory Russell (Hawaii), and 'Sultan of Speed' Terry Fitzgerald (Australia). All were very gracious in signing autographs and personally presenting their items.

Friday's "Antique Roadshow"-style pre-appraisal was a harbinger of what was to come with hundreds turning out, waiting in line for up to four hours to have their gems and junk appraised by a panel of experts. The diamond discovery was a Pat Curren balsa surfboard from the late 1950s, brought in by retired Hawaiian Airlines pilot Mel Souza, who flew the airlines' last DC3. The surfboard earned pride of place among Saturday's main lots and sold for $7,500.?

"The board was still in great condition and had a very cool story to it," said Rarick. "Pat Curren was commissioned to make the board for a rental concession at the Outrigger Canoe Club, but being a shaper of high-performance boards, it was too narrow and thin to do well for a novice renter. That's how this gentleman came upon it and bought it back in the '60s."

Rarick says it's too early to know if he'll be prepared to host another auction in two year's time, but promised he will never say "never".

"Honestly, I'm overwhelmed," Rarick said. "This auction was so incredible. It was a shock to me how it turned out. It was a huge job but the amount of satisfaction to be gained from an event like this is unbelievable. It was an experience for all - bidders, sellers, as well as myself."

To view all final results from the auction, please visit www.hawaiiansurfauction.com

Below: The Star of the Show - $33,000 11-foot Buzzy Trent Model "Surfboards Hawaii" elephant gun from the 1960s, shaped by Dick Brewer. (L) Randy Rarick (C) Dick Brewer (R) $33,000 board. Photo by Joe Brown/Barry Markowitz.

Highlights - 59th International Auctioneers Conference & Show
Wednesday, July 9, 2008

Alex Belcher of Buncomb, Illinois Wins International Ringman Championship

July 9, 2008, Nashville, TN - Alex Belcher of Buncomb, Ilinois was awarded the prestigious title of International Ringman Champion at the 59th International Auctioneers Association Conference and Show in Nashville. Twenty-two competitors participated in this year's"ringman" competition. This is the second year that the IRC competition has taken place.

A 1999 graduate of Missouri Auction School, Alex has been a full-time professional auctioneer for the past 9 years. Alex began his auction career with Joe Ollis Auction Service LLC out of auction school and purchased the business in 2007. Mr. Belcher considers himself a "cars, cattle and real estate auctioneer" but his auction services also include estates and farm machinery and equipment.

Alex displayed his talents and skills during the National Auctioneers Foundation Benefit Auction, where he along with other competitors were judged on their interaction with the audience and their ability to communicate bids to the auctioneer.

As the 2008 International Ringman Champion, Alex will receive a championship ring, $5,000 cash prize, trophy, and recognition as the world's best "ringman".

Alex resides in Buncomb with his wife, Kim, and their four year old daughter, Campbell.

The five finalists in this year's competition included: Wayne D. Thorn, Prattville, AL (First Runner-Up); Santo F. Grasso, Baltimore, MD (Second Runner-Up); Emmette Barran, CCIM, Decatur, AL; Phillip Richardson, Maynardville, TN.

Outgoing NAA CEO Recognized for Vision and Leadership to Association

July 9, 2008, Nashville, TN - The National Auctioneers Association (NAA) awarded one of its most prominent leaders, Robert A. Shively, CAE, at the 59th International Auctioneers Conference and Show in Nashville for his year's of service to the association and its membership. NAA President Tommy Williams presented Mr. Shively with his award at the opening session of the conference.

The association's chief executive officer for the past 8 years, Bob is credited with bringing the association and industry into the 21st century. Notable achievements during his tenure as CEO include the industry research initiative, developing numerous benefit programs increasing non-dues revenue for the association, assisting in the development of multi-million dollar capital fund campaign, initiation of state leadership conference, and creation of state association management services division within the NAA. Mr. Shively announced his resignation in February 2008. Hannes Combest, CAE, was hired in May 2008 and succeeded Mr. Shively as CEO in June. Bob and his wife, Candy, reside in Topeka, Kansas.

Past NAA Treasurer Honored with NAA's President's Award of Distinction

July 9, 2008, Nashville, TN - The National Auctioneers Association (NAA) awarded one of its most influential leaders at the 59th International Auctioneers Conference and Show in Nashville with the President's Award of Distinction. This year's recipient was NAA member, past treasurer and financial advisor to the association, Kurt Kiefer. NAA President Tommy Williams presented Mr. Kiefer with the award at the opening session of the conference. The President's Award of Distinction was created by the NAA's Board of Directors in 2002 and honors business leaders whose conduct has distinguished the profession and the association in the past two years.

A past treasurer of the NAA and respected member of the association, Kurt is a successful auctioneer and entrepreneur with additional business ventures outside of the auction industry. Kurt was recognized for his instrumental role in the development of a financial plan for the association's future which targets developing financial reserves while maintaining exceptional membership benefits and services. Over the past 10 years, the NAA has focused its finances on new membership programs, services and benefits, but with given trends in association management, the NAA's vision has shifted to focus on long-term financial stability within the NAA. An innovative leader, Kurt is credited with developing a plan to reinvest $1 million into the NAA reserves over the next 5 years. Kurt resides in Fergus Falls, Minnesota.

National Auctioneers Association Estimates Industry to Grow 2.3 Percent in 2008
Decrease of 2.7 Percent Reported in Residential Real Estate Market

Nashville, TN, July 9, 2008 - During the opening session of the 59th International Auctioneers Conference and Show in Nashville, Tennessee, Dr. James Leiman of Morpace, Inc. announced the results of the industry's mid-year report to the members of the National Auctioneers Association. Dr. Leiman reported that if current consumer trends continue within the live auction industry, gross sales will grow 2.3% in 2008. The 2.3% percent growth during the first half will result in estimated gross sales of goods and service sold at live auction totaling $276.8 billion. This translates to six consecutive years of growth within the industry. In 2007, the live auction industry grew 5.3% with over $270 billion in goods and services sold by auctioneers in the United States.

While automobile auctions continue to dominate the industry with $87.8 billion in gross sales in 2007, the fastest growing sector of the live auction industry is real estate auctions. Real estate auction sectors include: residential, commercial/industrial and land/agricultural. In 2007, the auction industry sold approximately $58.5 billion in real estate assets. Total sales growth within residential real estate auctions has grown 46.6% between 2003 and 2007. Dr. Leiman reported that the pace of real estate auctions has slowed and gross sales have decreased in the first half of 2008. Gross sales in residential real estate decreased 2.7% in residential real estate, 7.1% in commercial and industrial real estate, and 2.3% in land and agricultural real estate.

"While auctioneers have witnessed tremendous growth in real estate auction sales over the past five years, auctioneers are witnessing more challenges in today's housing market," said NAA president Tommy Williams, CAI. "Auctions set the market value and sellers are uneasy with the realization that their property is only worth what the consumer is willing to pay and are concerned about a loss in their properties market value. In addition to seller apprehension, today's buyers are concerned with purchasing assets in an uncertain economy and do not see eye-to-eye with sellers on the true market value of their property."

Every January, the National Auctioneers Association unveils its annual end-of-the-year report to the public. This report provides and overview of the industry, as well as highlights growth within sectors of the auction industry (i.e. real estate, charity, art, antiques and collectibles, etc.). To view a copy of the past three years of reports visit www.auctioneers.org and click on Auction Industry Stats.

Auction World Publication to be Sold at Auction
National Auctioneers Association to Sell Twenty Year Old Auction Industry Publication

Nashville, TN, July 9, 2008 - During the 59th International Auctioneers Conference and Show in Nashville, Tennessee, the leadership of the National Auctioneers Association (NAA) announced the sale of its publication, Auction World, at auction. The NAA is a professional association dedicated to the advancement of the auction profession and industry. Auction World is a professional/trade publication which provides readers with insight into today's auction industry and profession. Considered to be the information source for auctioneer, the publication highlights national and global auction news and includes columns on a range of popular industry topics such as appraisals, business management, and auction law.

The publication will be sold through a "modified sealed bid" auction. The winning bidder will own the name and trademark rights to the publication, as well as the advertising contracts and subscription database. Bidders are required to submit a $10,000 bid deposit with their sealed bid and bids must be received at the NAA office in Overland Park, Kansas by Wednesday, July 30, 2008. The top three bidders will participate in a live, online auction on NAAlive.com on Thursday, July 31, 2008 at 10:00 a.m.

First published in May 1987 by Kiefer Publishing in Fergus Falls, MN, the publication was initially printed in full-color, glossy magazine format. The layout of the publication was later converted to a newspaper/tabloid format in 1992. Initially a subscription based publication; the National Auctioneers Association purchased Auction World in 2001 and distributes the newspaper to the members of the association.

The NAA currently publishes a premier monthly magazine, The Auctioneer, and operates its website www.auctioneers.org. The NAA Board of Directors recently chose to divest itself from Auction World to reallocate its resources to strengthening its web content and monthly magazine, The Auctioneer.

To view information on the sale of Auction World, visit www.auctionworldsale.com. The website includes a sample issue of Auction World, sealed bid forms, terms and conditions of the sale, and questions addressing the sale. For additional information regarding the sale of Auction World, contact Kurt Kiefer at (218) 233-0000 or kurtkiefer@aol.com. International Junior Auctioneer Championship Finalists Announced International Junior Auctioneer Championship Finalists Announced

Three Junior Auctioneers will advance to the IJAC finals on Friday, July 11, 2008. Ten Junior Auctioneers competed in this year's competition. To view the IJAC finals live Friday morning, visit www.naameeting.com at 9:00 a.m.

Jacob Barth, Ephrata, Washington
Eloisa Garcia, Belen, New Mexico
Emily R. Wears, Solon, Iowa

IAC Champion Interviewed on Local Nashville Station