Real estate auctions accounted for $74.8 billion in sales during 2010, according to a study from Bloomington, Ind.-based Gwent Group.

Real estate auctions included live sales, government sales, estate and private "boardroom" sales, sealed bid auctions and internet auctions, according to a statement. The total also includes the toxic, non-performing paper sales by financial institutions of their non-performing, pre-foreclosure sale of mortgages.

"Our review of the industry takes in a broad range of activity, reflecting that competitive bidding amounts to an auction regardless of the heritage or training of the person soliciting and accepting the bids," said Gwent Group Chairman Steve Martin. "Online auctions have become a major part of the U.S. economy, even though very few of those conducting these auctions are in fact auctioneers in a traditional sense."

Martin added: "We’re expecting to see a dramatic increase in the use of auctions for commercial real estate and residential marketing in 2011 and 2012. The weakness in commercial real estate has been seen in the shortage of bidders at many sales."