Title: Auction market for fisheries in Iceland-Increasing catch value and enforcement in fisheries

The fish auction market in Iceland has been serving users for the last 10 years, since it was established in 1987. This paper explores and analyses why the fish auction markets are well accepted in Iceland.

The modus operandi of the fish auction markets are analysed carefully to obtain the real force of its acceptance. Analysis and comparison of prices were made between auction markets and direct selling, gutted and un-gutted catch, according to fishing gear and also by region. From the analysis, the fish auction markets have become a tool to increase the catch value based on supply and demand. The establishment of fish auction markets has made enforcement in fisheries easier. The fish auction markets are well accepted by the fishermen in Iceland because they need a place for them to sell their catch as soon as it landed at the ‘right price’. Most importantly the establishment of the fish auction market is supported by the main users, the fishermen and fish buyers.