B. Riley Financial (RILY) 10-Q 14 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	12-May-14
Document Information [Line Items]	'	'
Entity Registrant Name	'Great American Group, Inc.	'
Entity Central Index Key	'0001464790	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'GAMR	'
Entity Common Stock, Shares Outstanding	'	30,002,975
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2014	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$16,904	$18,867
Restricted cash	80	325
Accounts receivable, net	10,153	8,858
Lease finance receivable	7,992	8,099
Advances against customer contracts	195	1,058
Due from related parties	132	0
Goods held for sale or auction	4,906	13,964
Note receivable related party - current portion	0	703
Deferred income taxes	3,870	3,870
Prepaid expenses and other current assets	1,516	948
Total current assets	45,748	56,692
Note receivable related party - net of current portion	0	497
Property and equipment, net	995	1,090
Goodwill	5,688	5,688
Other intangible assets, net	140	140
Deferred income taxes	9,554	8,739
Other assets	780	831
Total assets	62,905	73,677
Current liabilities:	'	'
Accounts payable and accrued liabilities	9,118	11,578
Due to related parties	0	45
Mandatorily redeemable noncontrolling interests	2,613	2,823
Asset based credit facility	0	5,710
Revolving credit facility	4	333
Current portion of long-term debt	1,085	1,724
Notes payable	6,570	6,856
Total current liabilities	19,390	29,069
Long-term debt, net of current portion	48,759	48,759
Total liabilities	68,149	77,828
Commitments and contingencies	'	'
Great American Group, Inc. stockholders' equity (deficit):	'	'
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; none issued	0	0
Common stock, $0.0001 par value; 135,000,000 shares authorized; 30,002,975 issued and outstanding as of March 31, 2014 and December 31, 2013, respectively	4	4
Additional paid-in capital	3,082	3,082
Retained earnings (deficit)	-7,945	-6,611
Accumulated other comprehensive income (loss)	-661	-638
Total Great American Group, Inc. stockholders' equity (deficit)	-5,520	-4,163
Noncontrolling interests	276	12
Total equity (deficit)	-5,244	-4,151
Total liabilities and equity (deficit)	$62,905	$73,677

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets [Parenthetical] (USD $)	Mar. 31, 2014	Dec. 31, 2013
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	135,000,000	135,000,000
Common stock, issued	30,002,975	30,002,975
Common stock, outstanding	30,002,975	30,002,975

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues:	'	'
Services and fees	$12,385	$18,637
Sale of goods	9,268	2,317
Total revenues	21,653	20,954
Operating expenses:	'	'
Direct cost of services	5,863	6,152
Cost of goods sold	9,064	1,520
Selling, general and administrative	7,984	10,937
Total operating expenses	22,911	18,609
Operating income (loss)	-1,258	2,345
Other income (expense):	'	'
Interest income	2	2
Interest expense	-628	-634
Income before provision for income taxes	-1,884	1,713
Benefit (provision) for income taxes	814	-778
Net income (loss)	-1,070	935
Net income (loss) attributable to noncontrolling interests	264	-354
Net income (loss) attributable to Great American Group, Inc.	($1,334)	$1,289
Basic earnings (loss) per share (in dollars per share)	($0.05)	$0.04
Diluted earnings (loss) per share (in dollars per share)	($0.05)	$0.04
Weighted average basic shares outstanding (in shares)	28,682,975	28,682,975
Weighted average diluted shares outstanding (in shares)	28,682,975	29,656,430

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net income (loss)	($1,070)	$935
Other comprehensive loss:	'	'
Change in cumulative translation adjustment	-24	-355
Other comprehensive loss, net of tax	-24	-355
Total comprehensive income (loss)	-1,094	580
Comprehensive income (loss) attributable to noncontrolling interests	264	-354
Comprehensive income (loss) attributable to Great American Group, Inc.	($1,358)	$934

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Equity (Deficit) (USD $)	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]
In Thousands
Balance at Dec. 31, 2012	($4,175)	$0	$4	$3,082	($7,669)	($520)	$928
Balance (in shares) at Dec. 31, 2012	'	0	30,002,975	'	'	'	'
Net income (loss)	935	'	'	'	1,289	'	-354
Foreign currency translation adjustment	-355	'	'	'	'	-355	'
Changes in noncontrolling interests	-48	'	'	'	'	'	-48
Balance at Mar. 31, 2013	-3,643	0	4	3,082	-6,380	-875	526
Balance (in shares) at Mar. 31, 2013	'	0	30,002,975	'	'	'	'
Balance at Dec. 31, 2013	-4,151	0	4	3,082	-6,611	-638	12
Balance (in shares) at Dec. 31, 2013	'	0	30,002,975	'	'	'	'
Net income (loss)	-1,070	'	'	'	-1,334	'	264
Foreign currency translation adjustment	-24	'	'	'	'	-23	'
Balance at Mar. 31, 2014	($5,244)	$0	$4	$3,082	($7,945)	($661)	$276
Balance (in shares) at Mar. 31, 2014	'	0	30,002,975	'	'	'	'

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income (loss)	($1,070)	$935
Adjustments to reconcile net income (loss) to net cash provided by operating activities:	'	'
Depreciation and amortization	131	707
Impairment of goods held for sale or auction	0	22
Effect of foreign currency on operations	-212	-64
Deferred income taxes	-815	1,007
Income allocated to mandatorily redeemable noncontrolling interests	333	291
Change in operating assets and liabilities:	'	'
Accounts receivable and advances against customer contracts	-415	7,331
Lease finance receivable	107	0
Due from related party	-177	-373
Inventory	0	-588
Goods held for sale or auction	9,058	-589
Loan receivable	1,206	0
Prepaid expenses and other assets	-384	-55
Accounts payable and accrued expenses	-2,470	-356
Auction and liquidation proceeds payable	0	-618
Net cash provided by operating activities	5,292	7,650
Cash flows from investing activities:	'	'
Purchases of property and equipment	-36	-247
Decrease in note receivable - related party	0	196
Decrease in restricted cash	245	7,693
Net cash provided by investing activities	209	7,642
Cash flows from financing activities:	'	'
Repayments of capital lease obligations	0	-8
Repayment of revolving line of credit	-329	-576
Repayment of asset based credit facility	-5,710	0
Repayments of notes payable	-925	-1,170
Distribution to noncontrolling interests	-543	-612
Net cash used in financing activities	-7,507	-2,366
(Decrease) increase in cash and cash equivalents	-2,006	12,926
Effect of foreign currency on cash	43	-554
Net (decrease) increase in cash and cash equivalents	-1,963	12,372
Cash and cash equivalents, beginning of period	18,867	18,721
Cash and cash equivalents, end of period	16,904	31,093
Supplemental disclosures:	'	'
Interest paid	658	57
Taxes paid	$2	$163

ORGANIZATION_BUSINESS_OPERATIO

ORGANIZATION, BUSINESS OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Nature of Operations [Text Block]	'
	NOTE 1—ORGANIZATION, BUSINESS OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES
	Organization and Nature of Operations
	Great American Group, Inc. and its subsidiaries (collectively the “Company”) provide asset disposition, valuation and appraisal, capital advisory, and real estate consulting services to a wide range of retail, wholesale and industrial clients, as well as lenders, capital providers, private equity investors and professional services firms throughout the United States, Canada, and the United Kingdom. The Company operates in two operating segments: auction and liquidation services (“Auction and Liquidation”) and valuation and appraisal services (“Valuation and Appraisal”). In the Auction and Liquidation segment, the Company provides auction and liquidation services to help clients dispose of assets, capital advisory and real estate services. Such assets include multi-location retail inventory, wholesale inventory, trade fixtures, machinery and equipment, intellectual property and real property. In the Valuation and Appraisal segment, the Company provides valuation and appraisal services to clients with independent appraisals in connection with asset based loans, acquisitions, divestitures and other business needs. The Company previously had a third segment relating to UK retail stores (“UK Retail Stores”). The UK Retail Stores segment included the operation of ten retail shoe stores in the United Kingdom as a result of the acquisition of Shoon Trading Limited (“Shoon”) on May 4, 2012. In August 2013, the Shoon shareholder agreement was also amended and restated to eliminate the Company’s super majority voting rights which enabled the Company to control the board of directors of Shoon. As a result of this amendment, the Company no longer controlled the board of directors of Shoon, no longer operated in the UK Retail Stores segment, and Shoon’s operating results are not consolidated for any periods after July 31, 2013. In January 2014, Shoon was sold to a third party, and the Company no longer has a financial interest in the operations of Shoon.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
		(a)	Principles of Consolidation and Basis of Presentation
	The condensed consolidated financial statements include the accounts of Great American Group, Inc. and its wholly-owned and majority-owned subsidiaries. The condensed consolidated financial statements have been prepared by the Company, without audit, pursuant to interim financial reporting guidelines and the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of the Company’s management, all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the financial position and the results of operations for the periods presented have been included. These condensed consolidated financial statements and the accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission on March 31, 2014. The results of operations for the three months ended March 31, 2014, are not necessarily indicative of the operating results to be expected for the full fiscal year or any future periods.
		(b)	Use of Estimates
	The preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expense during the reporting period. Estimates are used when accounting for certain items such as reserves for slow moving goods held for sale or auction, the fair value of mandatorily redeemable noncontrolling interests and accounting for income tax valuation allowances. Estimates are based on historical experience, where applicable, and assumptions that management believes are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ.
		(c)	Revenue Recognition
	Revenues are recognized in accordance with the accounting guidance when persuasive evidence of an arrangement exists, the related services have been provided, the fee is fixed or determinable, and collection is reasonably assured.
	Revenues in the Valuation and Appraisal segment are primarily comprised of fees for valuation and appraisal services. Revenues are recognized upon the delivery of the completed services to the related customers and collection of the fee is reasonably assured. Revenues in the Valuation and Appraisal segment also include contractual reimbursable costs which totaled $679 and $568 for the three months ended March 31, 2014 and 2013, respectively.
	Revenues in the Auction and Liquidation segment are comprised of (i) commissions and fees earned on the sale of goods at auctions and liquidations; (ii) revenues from auction and liquidation services contracts where the Company guarantees a minimum recovery value for goods being sold at auction or liquidation; (iii) revenues from the sale of goods that are purchased by the Company for sale at auction or liquidation sales events; (iv) fees earned from real estate services and the origination of loans; (v) revenues from financing activities recorded over the lives of related loans receivable using the interest method and (vi) revenues from contractual reimbursable expenses incurred in connection with auction and liquidation contracts.
	Commission and fees earned on the sale of goods at auction and liquidation sales are recognized when evidence of an arrangement exists, the sales price has been determined, title has passed to the buyer and the buyer has assumed the risks of ownership and collection is reasonably assured. The commission and fees earned for these services are included in revenues in the accompanying condensed consolidated statement of operations. Under these types of arrangements, revenues also include contractual reimbursable costs which totaled $1,264 and $1,518 for the three months ended March 31, 2014 and 2013, respectively.
	Revenues earned from auction and liquidation services contracts where the Company guarantees a minimum recovery value for goods being sold at auction or liquidation are recognized based on proceeds received. The Company records proceeds received from these types of engagements first as a reduction of contractual reimbursable expenses, second as a recovery of its guarantee and thereafter as revenue, subject to such revenue meeting the criteria of having been fixed or determinable. Contractual reimbursable expenses and amounts advanced to customers for minimum guarantees are initially recorded as advances against customer contracts in the accompanying condensed consolidated balance sheets. If, during the auction or liquidation sale, the Company determines that the proceeds from the sale will not meet the minimum guaranteed recovery value as defined in the auction or liquidation services contract, the Company accrues a loss on the contract in the period that the loss becomes known.
	The Company also evaluates revenue from auction and liquidation services contracts in accordance with the accounting guidance to determine whether to report auction and liquidation segment revenue on a gross or net basis. The Company has determined that it acts as an agent in a substantial majority of its auction and liquidation services contracts and therefore reports the auction and liquidation revenues on a net basis.
	Revenues from the sale of goods are recorded gross and are recognized in the period in which the sale of goods held for sale or auction are completed, title to the property passes to the purchaser and the Company has fulfilled its obligations with respect to the transaction. These revenues are primarily the result of the Company acquiring title to merchandise with the intent of selling the items at auction or for augmenting liquidation sales. Revenues from the sale of goods also include revenue from sales at our retail stores at the point of sale that we operate in the United Kingdom.
	Fees earned from real estate services and the origination of loans where the Company provides capital advisory services are recognized in the period earned, the fee is fixed and determinable and collection is reasonably assured.
	In the normal course of business, the Company will enter into collaborative arrangements with other merchandise liquidators to collaboratively execute auction and liquidation contracts. The Company’s collaborative arrangements specifically include contractual agreements with other liquidation agents in which the Company and such other liquidation agents actively participate in the performance of the liquidation services and are exposed to the risks and rewards of the liquidation engagement. The Company’s participation in collaborative arrangements including its rights and obligations under each collaborative arrangement can vary. Revenues from collaborative arrangements are recorded net based on the proceeds received from the liquidation engagement. Amounts paid to participants in the collaborative arrangements are reported separately as direct costs of revenues. Revenue from collaborative arrangements in which the Company is not the majority participant is recorded net based on the Company’s share of proceeds received. There were no revenues or direct cost of services subject to collaborative arrangements during the three months ended March 31, 2014 and there were $8,092 of revenues and $998 of direct cost of services subject to collaborative arrangements during the three months ended March 31, 2013.
		(d)	Direct Cost of Services
	Direct cost of services relate to service and fee revenues. The costs consist of employee compensation and related payroll benefits, travel expenses, the cost of consultants assigned to revenue-generating activities and direct expenses billable to clients in the Valuation and Appraisal segment. Direct costs of services include participation in profits under collaborative arrangements in which the Company is a majority participant. Direct costs of services also include the cost of consultants and other direct expenses related to auction and liquidation contracts pursuant to commission and fee based arrangements in the Auction and Liquidation segment. Direct cost of services does not include an allocation of the Company’s overhead costs.
		(e)	Concentration of Risk
	Revenue and fees from the sale of goods during one of our wholesale and industrial auctions represented 15.0% of total revenues during the three months ended March 31, 2014. Revenues from one liquidation service contract represented 38.6% of total revenues during the three months ended March 31, 2013. Revenues in the Valuation and Appraisal segment and the Auction and Liquidation segment are primarily generated in the United States and Europe, see Note 14.
	The Company’s activities in the Auction and Liquidation segment are executed frequently with, and on behalf of, distressed customers and secured creditors. Concentrations of credit risk can be affected by changes in economic, industry, or geographical factors. The Company seeks to control its credit risk and potential risk concentration through risk management activities that limit the Company’s exposure to losses on any one specific liquidation services contract or concentration within any one specific industry. To mitigate the exposure to losses on any one specific liquidation services contract, the Company sometimes conducts operations with third parties through collaborative arrangements.
	The Company maintains cash in various federally insured banking institutions. The account balances at each institution periodically exceed the Federal Deposit Insurance Corporation’s (“FDIC”) insurance coverage, and as a result, there is a concentration of credit risk related to amounts in excess of FDIC insurance coverage. The Company has not experienced any losses in such accounts. The Company also has substantial cash balances from proceeds received from auctions and liquidation engagements that are distributed to parties in accordance with the collaborative arrangements.
		(f)	Income Taxes
	The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax liabilities and assets are determined based on the difference between the financial statement basis and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company estimates the degree to which tax assets and credit carryforwards will result in a benefit based on expected profitability by tax jurisdiction. A valuation allowance for such tax assets and loss carryforwards is provided when it is determined to be more likely than not that the benefit of such deferred tax asset will not be realized in future periods. Tax benefits of operating loss carryforwards are evaluated on an ongoing basis, including a review of historical and projected future operating results, the eligible carryforward period, and other circumstances. If it becomes more likely than not that a tax asset will be used, the related valuation allowance on such assets would be reduced.
		(g)	Cash and Cash Equivalents
	The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
		(h)	Restricted Cash
	As of March 31, 2014 and December 31, 2013, restricted cash included $80 and $165, respectively, of cash collateral for electronic payment processing in the United Kingdom. As of December 31, 2013, restricted cash also included $160 of cash collected from the leasing transactions related to four oil rigs that collateralize the related note payable, which had an outstanding principal amount of $6,856 as of December 31, 2013.
		(i)	Accounts Receivable
	Accounts receivable represents amounts due from the Company’s auction and liquidation and valuation and appraisal customers. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management utilizes a specific customer identification methodology. Management also considers historical losses adjusted for current market conditions and the customers’ financial condition and the current receivables aging and current payment patterns. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance sheet credit exposure related to its customers. There was no bad debt expense during the three months ended March 31, 2014 and 2013.
		(j)	Advances Against Customer Contracts
	Advances against customer contracts represent advances of contractually reimbursable expenses incurred prior to, and during the term of the auction and liquidation services contract. These advances are charged to expense in the period that revenue is recognized under the contract.
		(k)	Goods Held for Sale or Auction
	Goods held for sale or auction are stated at the lower of cost, determined by the specific-identification method, or market.
		(l)	Lease Finance Receivable
	Lease finance receivables consist of the Company’s net investment in sales-type leases for four oil rigs as of March 31, 2014 and December 31, 2013. As of March 31, 2014, the remaining gross lease payments in accordance with the purchase lease of $8,450 are payable through December 15, 2014. The gross lease payments include a bargain purchase option in the amount of $4,242 that is payable on December 15, 2014. The Company is currently in negotiations with the lessee to modify the terms of the lease. The lessee is currently in arrears on certain lease payments and the Company is in negotiations with the lessee to modify the terms of the lease. The lease finance receivable is comprised of the following:
			March 31,		December 31,
			2014		2013
	Minimum lease payment receivable		$	4,208	$	4,367
	Lease purchase option			4,242		4,242
	Unearned income			-458		-510
	Total lease finance receivable		$	7,992	$	8,099
		(m)	Property and Equipment
	Property and equipment are stated at cost. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. Property and equipment held under capital leases are amortized on a straight-line basis over the shorter of the lease term or estimated useful life of the asset. Property and equipment under capital leases are stated at the present value of minimum lease payments. Depreciation and amortization expense was $132 and $161 for the three months ended March 31, 2014 and 2013, respectively.
		(n)	Fair Value Measurements
	The Company records mandatorily redeemable noncontrolling interests that were issued after November 5, 2003 at fair value with fair value determined in accordance with the Accounting Standards Codification (“ASC”). The following table below presents information about the Company’s mandatorily redeemable noncontrolling interests that are measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 which are categorized using the three levels of fair value hierarchy. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) for identical instruments that are highly liquid, observable and actively traded in over-the-counter markets. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations whose inputs are observable and can be corroborated by market data. Level 3 inputs are unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.
	The following tables present information on the liabilities measured and recorded at fair value on a recurring basis as of March 31, 2014 and December 31, 2013.
			Financial Assets Measured at Fair Value on a
			Recurring Basis at March 31, 2014, Using
					Quoted prices in		Other		Significant
			Fair Value at		active markets for		observable		unobservable
			March 31,		identical assets		inputs		inputs
			2014		(Level 1)		(Level 2)		(Level 3)
	Mandatorily redeemable noncontrolling interests issued after November 5, 2003		$	2,150	$	-	$	-	$	2,150
	Total liabilities measured at fair value		$	2,150	$	-	$	-	$	2,150
			Financial Assets Measured at Fair Value on a
			Recurring Basis at December 31, 2013, Using
					Quoted prices in		Other		Significant
			Fair Value at		active markets for		observable		unobservable
			December 31,		identical assets		inputs		inputs
			2013		(Level 1)		(Level 2)		(Level 3)
	Mandatorily redeemable noncontrolling interests issued after November 5, 2003		$	2,273	$	-	$	-	$	2,273
	Total liabilities measured at fair value		$	2,273	$	-	$	-	$	2,273
	The Company determined the fair value of mandatorily redeemable noncontrolling interests described above based on the issuance of similar interests for cash, references to industry comparables, and relied, in part, on information obtained from appraisal reports and internal valuation models. The amount reported at fair value at March 31, 2014 and December 31, 2013 also includes the amount of undistributed earnings attributable to the noncontrolling interests that is distributed on a quarterly basis. There was no change in the fair value measurement of the noncontrolling interests during the three months ended March 31, 2014. The decrease in the mandatorily redeemable noncontrolling interests of $123 during the three months ended March 31, 2014 presented in the table above reflects the change in undistributed earnings attributable to the noncontrolling interest during such period. At March 31, 2014, there were no transfers in or out of Level 3 from other levels in the fair value hierarchy.
The carrying amounts reported in the condensed consolidated financial statements for cash, restricted cash, accounts receivable, accounts payable and accrued expenses and other current liabilities approximate fair value based on the short-term maturity of these instruments. The carrying amounts of the notes payable (including credit lines used to finance liquidation engagements), long-term debt and capital lease obligations approximate fair value because the contractual interest rates or effective yields of such instruments are consistent with current market rates of interest for instruments of comparable credit risk.
	(o)	Foreign Currency Translation
The Company transacts business in various foreign currencies. In countries where the functional currency of the underlying operations has been determined to be the local country's currency, revenues and expenses of operations outside the United States are translated into United States dollars using average exchange rates while assets and liabilities of operations outside the United States are translated into United States dollars using year-end exchange rates. The effects of foreign currency translation adjustments are included in stockholders' equity as a component of accumulated other comprehensive income in the accompanying consolidated balance sheets. Transaction losses were $39 and $309 during the three months ended March 31, 2014 and 2013, respectively. These amounts are included in selling, general and administrative expenses in our consolidated statements of operations.
	(p)	Fiduciary Funds
The accompanying condensed consolidated balance sheets do not include fiduciary funds, which are held by the Company on behalf of clients in connection with the administration of loans in the performance of capital advisory services. There were no funds held by the Company on behalf of clients at March 31, 2014 and December 31, 2013.

ACCOUNTS_RECEIVABLE

ACCOUNTS RECEIVABLE	3 Months Ended
	Mar. 31, 2014
Receivables [Abstract]	'
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	'
	NOTE 3— ACCOUNTS RECEIVABLE
	The components of accounts receivable, net, include the following:
		March 31,		December 31,
		2014		2013
	Accounts receivable	$	9,192	$	8,402
	Unbilled receivables		1,236		731
	Total accounts receivable		10,428		9,133
	Allowance for doubtful accounts		-275		-275
	Accounts receivable, net	$	10,153	$	8,858
	Additions and changes to the allowance for doubtful accounts consist of the following:
		Three Months Ended
		March 31,
		2014		2013
	Balance, beginning of period	$	275	$	371
	Add: Additions to reserve		-		-
	Less: Write-offs		-		-
	Less: Recoveries		-		-
	Balance, end of period	$	275	$	371
	Unbilled receivables represent the amount of contractual reimbursable costs and fees for services performed in connection with fee and service based auction and liquidation contracts.

GOODS_HELD_FOR_SALE_OR_AUCTION

GOODS HELD FOR SALE OR AUCTION	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	NOTE 4— GOODS HELD FOR SALE OR AUCTION
		March 31,		December 31,
		2014		2013
	Machinery and equipment	$	4,409	$	13,464
	Aircraft parts		497		500
	Total	$	4,906	$	13,964
	Goods held for sale or auction includes machinery and equipment and aircraft parts. At March 31, 2014 and December 31, 2013, machinery and equipment consists of $1,701 and $10,756 of machinery and equipment and oil rigs with a carrying value of $2,708. Aircraft parts with a carrying value of $497 and $500 which includes a lower of cost or market adjustment of $897 as of March 31, 2014 and December 31, 2013.
	The leased equipment with a carrying value of $2,708 as of March 31, 2014 serves as collateral for the related note payable, which had an outstanding principal amount of $6,570 as of March 31, 2014, as more fully described in Note 8.

GOODWILL_AND_OTHER_INTANGIBLE_

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill and Intangible Assets Disclosure [Text Block]	'
	NOTE 5— GOODWILL AND OTHER INTANGIBLE ASSETS
	Goodwill of $5,688 is comprised of $1,975 of goodwill in the Auction and Liquidation segment and $3,713 of goodwill in the Valuation and Appraisal segment at March 31, 2014. There have been no changes to the carrying amount of goodwill since December 31, 2007.
	Other intangible assets with finite lives include customer relationships which are being amortized over their estimated useful lives of 6 years. Other intangible assets include customer relationships of $970 and accumulated amortization of $970 and trademarks of $140 which have been identified as an indefinite lived intangible asset that is not being amortized at March 31, 2014 and December 31, 2013. There was no amortization expense for three months ended March 31, 2014 and 2013.

CREDIT_FACILITIES

CREDIT FACILITIES	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Line Of Credit Facilities [Text Block]	'
	NOTE 6— CREDIT FACILITIES
	On July 15, 2013, the Company entered into a Second Amended and Restated Credit Agreement (“Credit Agreement”) with Wells Fargo Bank, National Association that amended and restated that certain First Amended and Restated Credit Agreement dated as of December 31, 2010. The maximum revolving loan amount under the asset based credit facility pursuant to the credit agreement remains at $100,000, less the aggregate principal amount borrowed under the UK Credit Agreement (if in effect), and the maturity date has been extended from July 16, 2013 to July 15, 2018. The asset based credit facility can be used for borrowings and letter of credit obligations up to the aggregate amount of $100,000, less the aggregate principal amount borrowed under the UK Credit Agreement (if in effect). The interest rate for each revolving credit advance under the Credit Agreement is, subject to certain terms and conditions, equal to the LIBOR plus a margin of 2.25% to 3.25% depending on the type of advance and the percentage such advance represents of the related transaction for which such advance is provided. The restated Credit Agreement removed the Company’s United Kingdom subsidiary as a party to such agreement and the concept of borrowings thereunder for certain transactions in the United Kingdom. On March 19, 2014, the Company entered into a separate credit agreement (a “UK Credit Agreement”) with an affiliate of Wells Fargo Bank, National Association which provides for the financing of transactions in the United Kingdom. The UK Credit Agreement allows the Company to borrow up to £50,000. Any borrowings on the UK Credit Agreement reduce the availability on the asset based $100,000 credit facility. The UK Credit Agreement is cross collateralized and integrated in certain respects with the Credit Agreement. Cash advances and the issuance of letters of credit under the $100,000 credit facility are made at the lender’s discretion. The letters of credit issued under this facility are furnished by the lender to third parties for the principal purpose of securing minimum guarantees under liquidation services contracts more fully described in Note 2(c). All outstanding loans, letters of credit, and interest are due on the expiration date which is generally within 180 days of funding. The credit facility is secured by the proceeds received for services rendered in connection with liquidation service contracts pursuant to which any outstanding loan or letters of credit are issued and the assets that are sold at liquidation related to such contract. The credit facility also provides for success fees in the amount of 5% to 20% of the net profits, if any, earned on the liquidation engagements funded under the Credit Agreement as set forth therein. Interest expense totaled $149 (including success fees of $100 and amortization of deferred loan fees of $23) and $85 (including amortization of deferred loan fees of $68) for the three months ended March 31, 2014 and 2013, respectively. The Company had no outstanding balance for borrowings or letters of credit under this credit facility at March 31, 2014.
	The Credit Agreement governing the credit facility contains certain covenants, including covenants that limit or restrict the Company’s ability to incur liens, incur indebtedness, make investments, dispose of assets, make certain restricted payments, merge or consolidate and enter into certain transactions with affiliates. Upon the occurrence of an event of default under the Credit Agreement, the lender may cease making loans, terminate the Credit Agreement and declare all amounts outstanding under the Credit Agreement to be immediately due and payable. The Credit Agreement specifies a number of events of default (some of which are subject to applicable grace or cure periods), including, among other things, nonpayment defaults, covenant defaults, cross-defaults to other material indebtedness, bankruptcy and insolvency defaults, and material judgment defaults.
	On February 3, 2012, Great American Advisory & Valuation Services, LLC (“GAAV”), a wholly owned subsidiary of the Company, entered into an amended Loan and Security Agreement (Accounts Receivable Line of Credit) (the “Line of Credit”) with BFI Business Finance (“BFI”) which increased the maximum borrowings allowed from $2,000 to $3,000. The Line of Credit is collateralized by the accounts receivable of GAAV and allows for borrowings in the amount of 85% of the net face amount of prime accounts, as defined in the Line of Credit. The interest rate under the Line of Credit is the prime rate plus 2% (6% at March 31, 2014), payable monthly in arrears. The maturity date of the Line of Credit is February 3, 2015 and the maturity date may be extended for successive periods equal to one year, unless GAAV gives BFI written notice of its intent to terminate the Line of Credit at least thirty days prior to the maturity date of the Line of Credit. BFI has the right to terminate the Line of Credit at its sole discretion upon giving sixty days’ prior written notice to GAAV. In connection with the Line of Credit, Great American Group, LLC (“GAG, LLC”) entered into a limited continuing guaranty of GAAV’s obligations under the Line of Credit. Interest expense totaled $9 and $38 for the three months ended March 31, 2014 and 2013, respectively.

LONGTERM_DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Long-Term Debt [Text Block]	'
	NOTE 7— LONG-TERM DEBT
	Long-term debt consists of the following arrangements:
		March 31,		December 31,
		2014		2013
	$60,000 notes payable to each of the former Great American Members and the Phantom Equityholders of GAG, LLC issued in connection with the Acquisition dated July 31, 2009	$	49,844	$	50,483
	Total long-term debt		49,844		50,483
	Less current portion of long-term debt		1,085		1,724
	Long-term debt, net of current portion	$	48,759	$	48,759
	$60,000 Notes Payable
	On July 31, 2009, the members of GAG, LLC (the “Great American Members”), a wholly owned subsidiary of the Company, contributed all of their membership interests of GAG, LLC to the Company in exchange for 10,560,000 shares of common stock of the Company and a subordinated unsecured promissory note in an initial principal amount of $60,000 issued in favor of the Great American Members certain members of management of GAG, LLC prior to the Acquisition (as defined in Item 2. Of this Quarterly Report) that were participants in a deferred compensation plan (the “Phantom Equityholders”). In connection with the closing of the Acquisition, an initial principal payment of $4,383 was made, thereby reducing the principal amount of the note to $55,617. On August 28, 2009, the note was replaced with separate subordinated unsecured promissory notes (collectively, the “Notes”) issued in favor of each of the Great American Members and Phantom Equityholders. Prior to the Amendments described below, all Notes were payable in five equal annual principal payments in the aggregate amount of $11,123 due on the anniversary date of the Notes beginning on July 31, 2010 through July 31, 2014 with interest payable quarterly in arrears beginning October 31, 2009 at 12% per annum. On May 4, 2010, the Company entered into individual amendments (each, an “Amendment” and collectively, the “Amendments”) to an aggregate of $52,419 of the $55,617 principal amount outstanding of the Notes, which reduced the interest rate on the amended Notes from 12.0% per annum to 3.75% per annum. The interest rate reduction was effective retroactive to February 1, 2010. In addition, the maturity date for $46,996 of the $55,617 principal amount outstanding of the Notes was extended to July 31, 2018, subject to annual prepayments based upon the Company’s cash flow subject to certain limitations, as provided in the amendment to the notes payable, including, without limitation, the Company’s maintenance of a minimum adjusted cash balance of $20,000. Each prepayment, if any, is due within 30 days of the filing of the Company’s Annual Report on Form 10-K, beginning with the Form 10-K for the fiscal year ending December 31, 2010. There were no prepayments due on the Notes under this prepayment provision on April 30, 2014 and 2013. The remaining Notes with $8,621 principal amount outstanding continue to be payable in five equal annual principal payments as described above.
	Effective July 31, 2011, the Company entered into individual amendments that increased the principal amount of the Notes with Andy Gumaer and Harvey Yellen, the two former Great American Members, both of whom are executive officers and directors of the Company, by an aggregate amount of $1,762 of accrued interest that was originally due on July 31, 2011. The addition to the principal amount will accrue interest at the note rate of 3.75% and continue to be subject to annual prepayments based upon the Company’s cash flow and the maintenance of a minimum adjusted cash balance as provided in the Notes prior to the capitalization of the accrued interest. As a result, the principal balance of the promissory Notes to the two former Great American Members increased from an aggregate amount of $46,996 to $48,759.
	As of December 31, 2013, the aggregate principal amount of $48,759 in Notes outstanding to the Great American Members accrues interest at the note rate of 3.75% and has a maturity date of July 31, 2018 (subject to annual principal payments based upon our cash flow, with certain limitations). On January 31, 2014, the Company paid in full the $640 of principal balance for the Notes to the Phantom Equityholders that had the 12.0% interest rate. As of March 31, 2014, there is an aggregate principal amount of $1,085 of notes outstanding to the Phantom Equityholders with an interest rate of 3.75%.
	Interest expense was $467 and $509 for the three months ended March 31, 2014 and 2013, respectively. Accrued interest payable was $302 and $325 on the Notes as of March 31, 2014 and December 31, 2013, respectively.

NOTES_PAYABLE

NOTES PAYABLE	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Notes Payable Disclosure [Text Block]	'
	NOTE 8— NOTES PAYABLE
	On May 29, 2008, Great American Group Energy Equipment, LLC (“GAGEE”), a wholly owned subsidiary of the Company, entered into a credit agreement with Garrison Special Opportunities Fund LP and Gage Investment Group LLC (collectively, the “Lenders”) to finance the purchase of certain machinery and equipment to be sold at auction or liquidation. The original principal amount of the loan was $12,000 and borrowings bore interest at a rate of 20% per annum. The loan is collateralized by the machinery and equipment which were purchased with the proceeds from the loan. GAGEE was required to make principal and interest payments from proceeds from the sale of the machinery and equipment. GAGEE is a special purpose entity created to purchase the machinery and equipment, whose assets consist only of the machinery and equipment in question and whose liabilities are limited to the Lenders’ note and certain operational expenses related to this transaction. GAG, LLC guaranteed GAGEE’s liabilities to the Lenders up to a maximum of $1,200. The original maturity date of the loan was May 29, 2009; however, GAGEE exercised its right to extend the maturity date for 120 days until September 26, 2009. On September 26, 2009, the note payable became due and payable and on October 8, 2009, GAGEE and GAG, LLC entered into a Forbearance Agreement effective as of September 27, 2009 (the “Forbearance Agreement”) with the Lenders and Garrison Loan Agency Services LLC (the “Administrative Agent”), relating to the credit agreement, by and among GAGEE, as borrower, GAG, LLC, as guarantor, the Lenders and the Administrative Agent. Pursuant to the terms of the Forbearance Agreement, the Lenders agreed to forbear from exercising any of the remedies available to them under the credit agreement and the related security agreement unless a forbearance default occurs, as specified in the Forbearance Agreement. Pursuant to the Forbearance Agreement, and further amendments to the credit agreement for which the most recent amendment which was effective December 31, 2013 the maturity date of the note payable was extended to June 30, 2015 and the interest rate remained at 0% through maturity. The current amendment to the Credit Agreement provides for the lender to reimburse GAGEE for certain expenses from proceeds of the sale or lease of the assets that collateralize the note payable. GAGEE has no assets other than those collateralizing the loan which is comprised of a lease finance receivable of $7,992 and machinery and equipment with a carrying value of $2,708 that is included in goods held for sale or auction in the accompanying condensed consolidated balance sheet at March 31, 2014. GAG, LLC has satisfied its obligation to pay the $1,200 guarantee and the credit agreement does not provide for other recourse against GAG, LLC. At March 31, 2014 and December 31, 2013, the note payable balance was $6,570 and $6,856, respectively.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	NOTE 9— INCOME TAXES
	The Company’s (provision) benefit for income taxes consists of the following:
			Three Months Ended
			March 31,
			2014			2013
	Current:
	Federal		$	-		$	-
	State			1			-
	Foreign			-			-230
	Total current provision			1			-230
	Deferred:
	Federal			-641			840
	State			-174			168
	Foreign			-			-
	Total deferred provision (benefit)			-815			1,008
	Total provision (benefit) for income taxes		$	-814		$	778
	A reconciliation of the federal statutory rate of 34% for the three months ended March 31, 2014 and 2013 to the effective tax rate for income (loss) from operations before income taxes is as follows:
		Three Months Ended
			March 31,
		2014				2013
	Provision for income taxes at federal statutory rate			-34	%			34	%
	State income taxes, net of federal benefit			-6.2				6.2
	Foreign tax differential			-				3.8
	Other			-3				1.4
	Effective income tax rate			-43.2	%			45.4	%
	Deferred income tax assets (liabilities) consisted of the following:
			March 31,			December 31,
			2014			2013
	Deferred tax assets:
	Allowance for doubtful accounts		$	132		$	128
	Goods held for sale or auction			556			530
	Deductible goodwill			533			520
	Accrued liabilities and other			1,852			1,128
	Mandatorily redeemable noncontrolling interests			688			671
	Note payable to Phantom Equityholders			385			376
	Foreign tax and other credit carryforwards			591			591
	Net operating loss carryforward			8,687			8,665
	Total deferred tax assets		$	13,424		$	12,609
	As of March 31, 2014, the Company had federal net operating loss carryforwards of $20,558, state net operating loss carryforwards of $21,617, and foreign tax credit carryforwards of $342. The Company’s federal net operating loss carryforwards will expire in the tax year ending December 31, 2029, the state net operating loss carryforwards will expire in 2031, and the foreign tax credit carryforwards will expire in 2022.
	The Company establishes a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Tax benefits of operating loss and tax credit carryforwards are evaluated on an ongoing basis, including a review of historical and projected future operating results, the eligible carryforward period, and other circumstances. As of March 31, 2014 and December 31, 2013, the Company believes that it is more-likely-than-not that future taxable earnings will be sufficient to realize its deferred tax assets and has not provided an allowance.
	The Company’s uncertain tax positions are related to tax years that remain subject to examination by the relevant taxing authorities. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service for the calendar year ended December 31, 2010 to 2013. The Company and its subsidiaries’ state tax returns are also open to audit under similar statutes of limitations for the same tax years. The Company accrues interest on unrecognized tax benefits as a component of income tax expense. Penalties, if incurred, would be recognized as a component of income tax expense. The Company had no such accrued interest or penalties included in the accrued liabilities associated with unrecognized tax benefits as of the date of adoption.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	NOTE 10— EARNINGS PER SHARE
	Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding, after giving effect to all dilutive potential common shares outstanding during the period. Basic common shares outstanding exclude 1,320,000 common shares issued to the former Great American Members that are held in escrow and subject to forfeiture upon the final settlement of claims for goods held for sale in connection with the Acquisition. Dilutive common shares outstanding includes contingently issuable shares that are currently in escrow and subject to release if the conditions for the final settlement of claims for goods held for sale in connection with the Acquisition was satisfied at the end of the respective periods. During the three montsh ended March 31, 2014, diluted earnings per share exclude 95,573 shares since they are anti-dilutive.
	Basic and diluted earnings (loss) per share was calculated as follows (in thousands, except per share amounts):
		Three Months Ended
		March 31,
		2014		2013
	Net income (loss) attributable to Great American Group, Inc.	$	-1,334	$	1,289
	Weighted average shares outstanding:
	Basic		28,682,975		28,682,975
	Effect of dilutive potential common shares:
	Restricted stock units and non-vested shares		-		-
	Contingently issuable shares		-		973,455
	Diluted		28,682,975		29,656,430
	Basic income (loss) per share	$	-0.05	$	0.04
	Diluted income (loss) per share	$	-0.05	$	0.04

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	NOTE 11— COMMITMENTS AND CONTINGENCIES
	Legal Matters
	In 2013, the Company was served with a lawsuit that seeks to assert claims of breach of contract and other matters with damages in an amount up to $2,850. The Company is vigorously defending this lawsuit. This lawsuit is in the initial stages, the financial impact to the Company, if any, cannot be estimated.
	The Company is subject to certain legal and other claims that arise in the ordinary course of its business. The Company does not believe that the results of these claims are likely to have a material effect on its consolidated financial position or results of operations.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	NOTE 12— RELATED PARTY TRANSACTIONS
	At March 31, 2014, amounts due from related parties of $132 represent amounts due from CA Global Partners, LLC (“CA Global”). At December 31, 2013, amounts due to related parties of $45 represented amounts due to CA Global. CA Global is one of the members of Great American Global Partners, LLC (“GA Global Ptrs”) which started operations in the first quarter of 2013. The amount payable and receivable from CA Global represent amounts that were advanced or paid on behalf of the Company by CA Global at the balance sheet date in connection with certain auctions of wholesale and industrial machinery and equipment that CA Global manages on behalf of GA Global Ptrs.
	At December 31, 2013, note receivable – related party is comprised of two loans to Shoon with an aggregate outstanding receivable balance of $1,200. The Company owned 44.4% of the common stock of Shoon. The original loan in the amount of $1,300 was made to Shoon on May 4, 2012 and had a remaining principal balance of $353 at December 31, 2013. The loan had a maturity date of May 3, 2014 with interest payable monthly at LIBOR plus 6.0%. On August 2, 2013, an additional loan in the amount of $847 (net of $40 discount) was extended to Shoon with a maturity date of August 3, 2015. Interest was payable monthly at 6.5%. Both of the loans were collateralized by the inventory of Shoon. The loan receivables at December 31, 2013 is included in the Company’s consolidated balance sheet in note receivable related party – current portion in the amount of $703 and in note receivable related party - net of current portion in the amount of $497. In January 2014, Shoon was sold to a third party and the two loans in the amount of $1,200 outstanding at December 31, 2013 were repaid to the Company.
	In connection with the new loan in August 2013, the Shoon shareholder agreement was amended and restated to eliminate the Company’s super majority voting rights which enabled the Company to control the board of directors of Shoon. As a result of this amendment, the Company no longer controlled Shoon and the operating results of Shoon were not consolidated for any periods after July 31, 2013.
	The following financial statement amounts of Shoon were included in the accompanying condensed statement of operations in the UK retail stores segment for the three months ended March 31, 2013:
		Three Months
		Ended
		March 31, 2013
	Revenues:
	Revenues - Sale of goods	$	2,281
	Cost of goods sold		-1,499
	Selling, general and administrative expenses		-1,615
	Operating loss		-833
	Other expenses		-
	Other expenses		-35
	Loss before benefit for income taxes		-868
	Benefit for income taxes		230
	Net loss		-638
	Net loss attributable to noncontrolling interest		-383
	Net loss attributable to Great American Group, Inc.	$	-255

BUSINESS_SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	NOTE 13— BUSINESS SEGMENTS
	The Company’s operating segments reflect the manner in which the business is managed and how the Company allocates resources and assesses performance internally. The Company’s chief operating decision maker is a committee comprised of the Chief Executive Officer and President, and Chief Financial Officer. The Company has several operating subsidiaries through which it delivers specific services. The Company provides auction, liquidation, capital advisory, financing, real estate, and other services to stressed or distressed companies in a variety of diverse industries that have included apparel, furniture, jewelry, real estate, and industrial machinery. The Company also provides appraisal and valuation services for retail and manufacturing companies. In addition, as a result of the acquisition of Shoon on May 4, 2012, the Company operated ten retail stores in the United Kingdom for the period from May 4, 2012, the date of investment, through July 31, 2013. The Company’s business was previously classified by management into three reportable segments: Auction and Liquidation, Valuation and Appraisal, and UK Retail Stores. These reportable segments are three distinct businesses, each with a different customer base, marketing strategy and management structure. In August 2013, the Shoon shareholder agreement was amended and restated to eliminate the Company’s super majority voting rights which enabled the Company to control the board of directors of Shoon. As a result of this amendment, the Company no longer controls Shoon and the operating results of Shoon are not consolidated for any periods after July 31, 2013. As such, the Company no longer operates in the UK Retail Stores segment. In January 2014, Shoon was sold to a third party, and the Company no longer has a financial interest in the operations of Shoon. The Valuation and Appraisal reportable segment is an aggregation of the Company’s valuation and appraisal operating segments, which are primarily organized based on the nature of services and legal structure.
	Additionally, the Valuation and Appraisal operating segments are aggregated into one reportable segment as they have similar economic characteristics and are expected to have similar long-term financial performance.
	The following is a summary of certain financial data for each of the Company’s reportable segments:
		Three Months Ended
		March 31,
		2014		2013
	Auction and Liquidation reportable segment:
	Revenues - Services and fees	$	5,145	$	12,661
	Revenues - Sale of goods		9,268		36
	Total revenues		14,413		12,697
	Direct cost of services		-2,705		-3,080
	Cost of goods sold		-9,064		-21
	Selling, general, and administrative expenses		-2,740		-4,094
	Depreciation and amortization		-42		-45
	Segment income		-138		5,457
	Valuation and Appraisal reportable segment:
	Revenues - Services and fees		7,240		5,976
	Direct cost of services		-3,158		-3,072
	Selling, general, and administrative expenses		-2,771		-2,069
	Depreciation and amortization		-38		-27
	Segment income		1,273		808
	UK Retail Stores reportable segment:
	Revenues - Sale of goods		-		2,281
	Cost of goods sold		-		-1,499
	Selling, general, and administrative expenses		-		-1,600
	Depreciation and amortization		-		-15
	Segment income		-		-833
	Consolidated operating income from reportable segments		1,135		5,432
	Corporate and other expenses		-2,393		-3,087
	Interest income		2		2
	Interest expense		-628		-634
	Income (loss) before income taxes		-1,884		1,713
	Benefit (provision) for income taxes		814		-778
	Net income (loss)		-1,070		935
	Net (loss) income attributable to noncontrolling interests		264		-354
	Net (loss) income attributable to Great American Group, Inc.	$	-1,334	$	1,289
	Capital expenditures:
	Auction and Liquidation segment	$	36	$	15
	Valuation and Appraisal segment		-		83
	UK Retail Stores segment		-		129
	Total	$	36	$	227
		As of		As of
		March 31,		December 31,
		2014		2013
	Total assets:
	Auction and Liquidation segment	$	54,307	$	65,066
	Valuation and Appraisal segment		8,598		8,611
	Total	$	62,905	$	73,677
	The following table presents revenues by geographical area:
		Three Months Ended
		March 31,
		2014		2013
	Revenues:
	Revenues - Services and fees:
	United States	$	10,881	$	16,435
	Europe		1,504		2,202
	Total Revenues - Services and fees		12,385		18,637
	Revenues - Sale of goods
	United States		9,268		36
	Europe		-		2,281
	Total Revenues - Sale of goods		9,268		2,317
	Total Revenues:
United States		20,149		16,471
Europe		1,504		4,483
Total Revenues - Services and fees	$	21,653	$	20,954
The following tables presents long-lived assets and identifiable assets by geographical area:
	As of		As of
	March 31,		December 31,
	2014		2013
Long-lived Assets - Property and Equipment, net:
United States	$	907	$	990
Europe		88		100
Total Long-lived Assets	$	995	$	1,090
Identifiable Assets:
United States	$	57,705	$	68,405
Europe		5,200		5,272
Total Long-lived Assets	$	62,905	$	73,677

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Consolidation, Policy [Policy Text Block]	'
		(a)	Principles of Consolidation and Basis of Presentation
	The condensed consolidated financial statements include the accounts of Great American Group, Inc. and its wholly-owned and majority-owned subsidiaries. The condensed consolidated financial statements have been prepared by the Company, without audit, pursuant to interim financial reporting guidelines and the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of the Company’s management, all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the financial position and the results of operations for the periods presented have been included. These condensed consolidated financial statements and the accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission on March 31, 2014. The results of operations for the three months ended March 31, 2014, are not necessarily indicative of the operating results to be expected for the full fiscal year or any future periods.
Use of Estimates, Policy [Policy Text Block]	'
		(b)	Use of Estimates
	The preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expense during the reporting period. Estimates are used when accounting for certain items such as reserves for slow moving goods held for sale or auction, the fair value of mandatorily redeemable noncontrolling interests and accounting for income tax valuation allowances. Estimates are based on historical experience, where applicable, and assumptions that management believes are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ.
Revenue Recognition, Policy [Policy Text Block]	'
		(c)	Revenue Recognition
	Revenues are recognized in accordance with the accounting guidance when persuasive evidence of an arrangement exists, the related services have been provided, the fee is fixed or determinable, and collection is reasonably assured.
	Revenues in the Valuation and Appraisal segment are primarily comprised of fees for valuation and appraisal services. Revenues are recognized upon the delivery of the completed services to the related customers and collection of the fee is reasonably assured. Revenues in the Valuation and Appraisal segment also include contractual reimbursable costs which totaled $679 and $568 for the three months ended March 31, 2014 and 2013, respectively.
	Revenues in the Auction and Liquidation segment are comprised of (i) commissions and fees earned on the sale of goods at auctions and liquidations; (ii) revenues from auction and liquidation services contracts where the Company guarantees a minimum recovery value for goods being sold at auction or liquidation; (iii) revenues from the sale of goods that are purchased by the Company for sale at auction or liquidation sales events; (iv) fees earned from real estate services and the origination of loans; (v) revenues from financing activities recorded over the lives of related loans receivable using the interest method and (vi) revenues from contractual reimbursable expenses incurred in connection with auction and liquidation contracts.
	Commission and fees earned on the sale of goods at auction and liquidation sales are recognized when evidence of an arrangement exists, the sales price has been determined, title has passed to the buyer and the buyer has assumed the risks of ownership and collection is reasonably assured. The commission and fees earned for these services are included in revenues in the accompanying condensed consolidated statement of operations. Under these types of arrangements, revenues also include contractual reimbursable costs which totaled $1,264 and $1,518 for the three months ended March 31, 2014 and 2013, respectively.
	Revenues earned from auction and liquidation services contracts where the Company guarantees a minimum recovery value for goods being sold at auction or liquidation are recognized based on proceeds received. The Company records proceeds received from these types of engagements first as a reduction of contractual reimbursable expenses, second as a recovery of its guarantee and thereafter as revenue, subject to such revenue meeting the criteria of having been fixed or determinable. Contractual reimbursable expenses and amounts advanced to customers for minimum guarantees are initially recorded as advances against customer contracts in the accompanying condensed consolidated balance sheets. If, during the auction or liquidation sale, the Company determines that the proceeds from the sale will not meet the minimum guaranteed recovery value as defined in the auction or liquidation services contract, the Company accrues a loss on the contract in the period that the loss becomes known.
	The Company also evaluates revenue from auction and liquidation services contracts in accordance with the accounting guidance to determine whether to report auction and liquidation segment revenue on a gross or net basis. The Company has determined that it acts as an agent in a substantial majority of its auction and liquidation services contracts and therefore reports the auction and liquidation revenues on a net basis.
	Revenues from the sale of goods are recorded gross and are recognized in the period in which the sale of goods held for sale or auction are completed, title to the property passes to the purchaser and the Company has fulfilled its obligations with respect to the transaction. These revenues are primarily the result of the Company acquiring title to merchandise with the intent of selling the items at auction or for augmenting liquidation sales. Revenues from the sale of goods also include revenue from sales at our retail stores at the point of sale that we operate in the United Kingdom.
	Fees earned from real estate services and the origination of loans where the Company provides capital advisory services are recognized in the period earned, the fee is fixed and determinable and collection is reasonably assured.
	In the normal course of business, the Company will enter into collaborative arrangements with other merchandise liquidators to collaboratively execute auction and liquidation contracts. The Company’s collaborative arrangements specifically include contractual agreements with other liquidation agents in which the Company and such other liquidation agents actively participate in the performance of the liquidation services and are exposed to the risks and rewards of the liquidation engagement. The Company’s participation in collaborative arrangements including its rights and obligations under each collaborative arrangement can vary. Revenues from collaborative arrangements are recorded net based on the proceeds received from the liquidation engagement. Amounts paid to participants in the collaborative arrangements are reported separately as direct costs of revenues. Revenue from collaborative arrangements in which the Company is not the majority participant is recorded net based on the Company’s share of proceeds received. There were no revenues or direct cost of services subject to collaborative arrangements during the three months ended March 31, 2014 and there were $8,092 of revenues and $998 of direct cost of services subject to collaborative arrangements during the three months ended March 31, 2013.
Cost of Sales, Policy [Policy Text Block]	'
		(d)	Direct Cost of Services
	Direct cost of services relate to service and fee revenues. The costs consist of employee compensation and related payroll benefits, travel expenses, the cost of consultants assigned to revenue-generating activities and direct expenses billable to clients in the Valuation and Appraisal segment. Direct costs of services include participation in profits under collaborative arrangements in which the Company is a majority participant. Direct costs of services also include the cost of consultants and other direct expenses related to auction and liquidation contracts pursuant to commission and fee based arrangements in the Auction and Liquidation segment. Direct cost of services does not include an allocation of the Company’s overhead costs.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	'
		(e)	Concentration of Risk
	Revenue and fees from the sale of goods during one of our wholesale and industrial auctions represented 15.0% of total revenues during the three months ended March 31, 2014. Revenues from one liquidation service contract represented 38.6% of total revenues during the three months ended March 31, 2013. Revenues in the Valuation and Appraisal segment and the Auction and Liquidation segment are primarily generated in the United States and Europe, see Note 14.
	The Company’s activities in the Auction and Liquidation segment are executed frequently with, and on behalf of, distressed customers and secured creditors. Concentrations of credit risk can be affected by changes in economic, industry, or geographical factors. The Company seeks to control its credit risk and potential risk concentration through risk management activities that limit the Company’s exposure to losses on any one specific liquidation services contract or concentration within any one specific industry. To mitigate the exposure to losses on any one specific liquidation services contract, the Company sometimes conducts operations with third parties through collaborative arrangements.
	The Company maintains cash in various federally insured banking institutions. The account balances at each institution periodically exceed the Federal Deposit Insurance Corporation’s (“FDIC”) insurance coverage, and as a result, there is a concentration of credit risk related to amounts in excess of FDIC insurance coverage. The Company has not experienced any losses in such accounts. The Company also has substantial cash balances from proceeds received from auctions and liquidation engagements that are distributed to parties in accordance with the collaborative arrangements.
Income Tax, Policy [Policy Text Block]	'
		(f)	Income Taxes
	The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax liabilities and assets are determined based on the difference between the financial statement basis and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company estimates the degree to which tax assets and credit carryforwards will result in a benefit based on expected profitability by tax jurisdiction. A valuation allowance for such tax assets and loss carryforwards is provided when it is determined to be more likely than not that the benefit of such deferred tax asset will not be realized in future periods. Tax benefits of operating loss carryforwards are evaluated on an ongoing basis, including a review of historical and projected future operating results, the eligible carryforward period, and other circumstances. If it becomes more likely than not that a tax asset will be used, the related valuation allowance on such assets would be reduced.
Cash and Cash Equivalents, Policy [Policy Text Block]	'
		(g)	Cash and Cash Equivalents
	The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	'
		(h)	Restricted Cash
	As of March 31, 2014 and December 31, 2013, restricted cash included $80 and $165, respectively, of cash collateral for electronic payment processing in the United Kingdom. As of December 31, 2013, restricted cash also included $160 of cash collected from the leasing transactions related to four oil rigs that collateralize the related note payable, which had an outstanding principal amount of $6,856 as of December 31, 2013.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	'
		(i)	Accounts Receivable
	Accounts receivable represents amounts due from the Company’s auction and liquidation and valuation and appraisal customers. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management utilizes a specific customer identification methodology. Management also considers historical losses adjusted for current market conditions and the customers’ financial condition and the current receivables aging and current payment patterns. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance sheet credit exposure related to its customers. There was no bad debt expense during the three months ended March 31, 2014 and 2013.
Advances Against Customer Contracts Policy [Policy Text Block]	'
		(j)	Advances Against Customer Contracts
	Advances against customer contracts represent advances of contractually reimbursable expenses incurred prior to, and during the term of the auction and liquidation services contract. These advances are charged to expense in the period that revenue is recognized under the contract.
Goods Held For Sale Or Auction Policy [Policy Text Block]	'
		(k)	Goods Held for Sale or Auction
	Goods held for sale or auction are stated at the lower of cost, determined by the specific-identification method, or market.
Loans and Leases Receivable, Lease Financing, Policy [Policy Text Block]	'
		(l)	Lease Finance Receivable
	Lease finance receivables consist of the Company’s net investment in sales-type leases for four oil rigs as of March 31, 2014 and December 31, 2013. As of March 31, 2014, the remaining gross lease payments in accordance with the purchase lease of $8,450 are payable through December 15, 2014. The gross lease payments include a bargain purchase option in the amount of $4,242 that is payable on December 15, 2014. The Company is currently in negotiations with the lessee to modify the terms of the lease. The lessee is currently in arrears on certain lease payments and the Company is in negotiations with the lessee to modify the terms of the lease. The lease finance receivable is comprised of the following:
			March 31,		December 31,
			2014		2013
	Minimum lease payment receivable		$	4,208	$	4,367
	Lease purchase option			4,242		4,242
	Unearned income			-458		-510
	Total lease finance receivable		$	7,992	$	8,099
Property, Plant and Equipment, Policy [Policy Text Block]	'
		(m)	Property and Equipment
	Property and equipment are stated at cost. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. Property and equipment held under capital leases are amortized on a straight-line basis over the shorter of the lease term or estimated useful life of the asset. Property and equipment under capital leases are stated at the present value of minimum lease payments. Depreciation and amortization expense was $132 and $161 for the three months ended March 31, 2014 and 2013, respectively.
Fair Value Measurement, Policy [Policy Text Block]	'
		(n)	Fair Value Measurements
	The Company records mandatorily redeemable noncontrolling interests that were issued after November 5, 2003 at fair value with fair value determined in accordance with the Accounting Standards Codification (“ASC”). The following table below presents information about the Company’s mandatorily redeemable noncontrolling interests that are measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 which are categorized using the three levels of fair value hierarchy. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) for identical instruments that are highly liquid, observable and actively traded in over-the-counter markets. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations whose inputs are observable and can be corroborated by market data. Level 3 inputs are unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.
	The following tables present information on the liabilities measured and recorded at fair value on a recurring basis as of March 31, 2014 and December 31, 2013.
			Financial Assets Measured at Fair Value on a
			Recurring Basis at March 31, 2014, Using
					Quoted prices in		Other		Significant
			Fair Value at		active markets for		observable		unobservable
			March 31,		identical assets		inputs		inputs
			2014		(Level 1)		(Level 2)		(Level 3)
	Mandatorily redeemable noncontrolling interests issued after November 5, 2003		$	2,150	$	-	$	-	$	2,150
	Total liabilities measured at fair value		$	2,150	$	-	$	-	$	2,150
			Financial Assets Measured at Fair Value on a
			Recurring Basis at December 31, 2013, Using
					Quoted prices in		Other		Significant
			Fair Value at		active markets for		observable		unobservable
			December 31,		identical assets		inputs		inputs
			2013		(Level 1)		(Level 2)		(Level 3)
	Mandatorily redeemable noncontrolling interests issued after November 5, 2003		$	2,273	$	-	$	-	$	2,273
	Total liabilities measured at fair value		$	2,273	$	-	$	-	$	2,273
	The Company determined the fair value of mandatorily redeemable noncontrolling interests described above based on the issuance of similar interests for cash, references to industry comparables, and relied, in part, on information obtained from appraisal reports and internal valuation models. The amount reported at fair value at March 31, 2014 and December 31, 2013 also includes the amount of undistributed earnings attributable to the noncontrolling interests that is distributed on a quarterly basis. There was no change in the fair value measurement of the noncontrolling interests during the three months ended March 31, 2014. The decrease in the mandatorily redeemable noncontrolling interests of $123 during the three months ended March 31, 2014 presented in the table above reflects the change in undistributed earnings attributable to the noncontrolling interest during such period. At March 31, 2014, there were no transfers in or out of Level 3 from other levels in the fair value hierarchy.
	The carrying amounts reported in the condensed consolidated financial statements for cash, restricted cash, accounts receivable, accounts payable and accrued expenses and other current liabilities approximate fair value based on the short-term maturity of these instruments. The carrying amounts of the notes payable (including credit lines used to finance liquidation engagements), long-term debt and capital lease obligations approximate fair value because the contractual interest rates or effective yields of such instruments are consistent with current market rates of interest for instruments of comparable credit risk.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	'
		(o)	Foreign Currency Translation
	The Company transacts business in various foreign currencies. In countries where the functional currency of the underlying operations has been determined to be the local country's currency, revenues and expenses of operations outside the United States are translated into United States dollars using average exchange rates while assets and liabilities of operations outside the United States are translated into United States dollars using year-end exchange rates. The effects of foreign currency translation adjustments are included in stockholders' equity as a component of accumulated other comprehensive income in the accompanying consolidated balance sheets. Transaction losses were $39 and $309 during the three months ended March 31, 2014 and 2013, respectively. These amounts are included in selling, general and administrative expenses in our consolidated statements of operations.
Fiduciary Funds Policy [Policy Text Block]	'
		(p)	Fiduciary Funds
	The accompanying condensed consolidated balance sheets do not include fiduciary funds, which are held by the Company on behalf of clients in connection with the administration of loans in the performance of capital advisory services. There were no funds held by the Company on behalf of clients at March 31, 2014 and December 31, 2013.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table Text Block]	'
	The lease finance receivable is comprised of the following:
		March 31,		December 31,
		2014		2013
	Minimum lease payment receivable	$	4,208	$	4,367
	Lease purchase option		4,242		4,242
	Unearned income		-458		-510
	Total lease finance receivable	$	7,992	$	8,099
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
	The following tables present information on the liabilities measured and recorded at fair value on a recurring basis as of March 31, 2014 and December 31, 2013.
		Financial Assets Measured at Fair Value on a
		Recurring Basis at March 31, 2014, Using
				Quoted prices in		Other		Significant
		Fair Value at		active markets for		observable		unobservable
		March 31,		identical assets		inputs		inputs
		2014		(Level 1)		(Level 2)		(Level 3)
	Mandatorily redeemable noncontrolling interests issued after November 5, 2003	$	2,150	$	-	$	-	$	2,150
	Total liabilities measured at fair value	$	2,150	$	-	$	-	$	2,150
		Financial Assets Measured at Fair Value on a
		Recurring Basis at December 31, 2013, Using
				Quoted prices in		Other		Significant
		Fair Value at		active markets for		observable		unobservable
		December 31,		identical assets		inputs		inputs
		2013		(Level 1)		(Level 2)		(Level 3)
	Mandatorily redeemable noncontrolling interests issued after November 5, 2003	$	2,273	$	-	$	-	$	2,273
	Total liabilities measured at fair value	$	2,273	$	-	$	-	$	2,273

ACCOUNTS_RECEIVABLE_Tables

ACCOUNTS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2014
Receivables [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	'
	The components of accounts receivable, net, include the following:
		March 31,		December 31,
		2014		2013
	Accounts receivable	$	9,192	$	8,402
	Unbilled receivables		1,236		731
	Total accounts receivable		10,428		9,133
	Allowance for doubtful accounts		-275		-275
	Accounts receivable, net	$	10,153	$	8,858
Schedule of Allowance for Doubtful Accounts Receivable [Table Text Block]	'
	Additions and changes to the allowance for doubtful accounts consist of the following:
		Three Months Ended
		March 31,
		2014		2013
	Balance, beginning of period	$	275	$	371
	Add: Additions to reserve		-		-
	Less: Write-offs		-		-
	Less: Recoveries		-		-
	Balance, end of period	$	275	$	371

GOODS_HELD_FOR_SALE_OR_AUCTION1

GOODS HELD FOR SALE OR AUCTION (Tables)	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	'
		March 31,		December 31,
		2014		2013
	Machinery and equipment	$	4,409	$	13,464
	Aircraft parts		497		500
	Total	$	4,906	$	13,964

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Schedule Of Long Term Debt [Table Text Block]	'
	Long-term debt consists of the following arrangements:
		March 31,		December 31,
		2014		2013
	$60,000 notes payable to each of the former Great American Members and the Phantom Equityholders of GAG, LLC issued in connection with the Acquisition dated July 31, 2009	$	49,844	$	50,483
	Total long-term debt		49,844		50,483
	Less current portion of long-term debt		1,085		1,724
	Long-term debt, net of current portion	$	48,759	$	48,759

INCOME_TAXES_Tables

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	'
	The Company’s (provision) benefit for income taxes consists of the following:
			Three Months Ended
			March 31,
			2014			2013
	Current:
	Federal		$	-		$	-
	State			1			-
	Foreign			-			-230
	Total current provision			1			-230
	Deferred:
	Federal			-641			840
	State			-174			168
	Foreign			-			-
	Total deferred provision (benefit)			-815			1,008
	Total provision (benefit) for income taxes		$	-814		$	778
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	'
	A reconciliation of the federal statutory rate of 34% for the three months ended March 31, 2014 and 2013 to the effective tax rate for income (loss) from operations before income taxes is as follows:
		Three Months Ended
			March 31,
		2014				2013
	Provision for income taxes at federal statutory rate			-34	%			34	%
	State income taxes, net of federal benefit			-6.2				6.2
	Foreign tax differential			-				3.8
	Other			-3				1.4
	Effective income tax rate			-43.2	%			45.4	%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	'
	Deferred income tax assets (liabilities) consisted of the following:
			March 31,			December 31,
			2014			2013
	Deferred tax assets:
	Allowance for doubtful accounts		$	132		$	128
	Goods held for sale or auction			556			530
	Deductible goodwill			533			520
	Accrued liabilities and other			1,852			1,128
	Mandatorily redeemable noncontrolling interests			688			671
	Note payable to Phantom Equityholders			385			376
	Foreign tax and other credit carryforwards			591			591
	Net operating loss carryforward			8,687			8,665
	Total deferred tax assets		$	13,424		$	12,609

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	Basic and diluted earnings (loss) per share was calculated as follows (in thousands, except per share amounts):
		Three Months Ended
		March 31,
		2014		2013
	Net income (loss) attributable to Great American Group, Inc.	$	-1,334	$	1,289
	Weighted average shares outstanding:
	Basic		28,682,975		28,682,975
	Effect of dilutive potential common shares:
	Restricted stock units and non-vested shares		-		-
	Contingently issuable shares		-		973,455
	Diluted		28,682,975		29,656,430
	Basic income (loss) per share	$	-0.05	$	0.04
	Diluted income (loss) per share	$	-0.05	$	0.04

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Condensed Income Statement [Table Text Block]	'
	The following financial statement amounts of Shoon were included in the accompanying condensed statement of operations in the UK retail stores segment for the three months ended March 31, 2013:
		Three Months
		Ended
		March 31, 2013
	Revenues:
	Revenues - Sale of goods	$	2,281
	Cost of goods sold		-1,499
	Selling, general and administrative expenses		-1,615
	Operating loss		-833
	Other expenses		-
	Other expenses		-35
	Loss before benefit for income taxes		-868
	Benefit for income taxes		230
	Net loss		-638
	Net loss attributable to noncontrolling interest		-383
	Net loss attributable to Great American Group, Inc.	$	-255

BUSINESS_SEGMENTS_Tables

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
	The following is a summary of certain financial data for each of the Company’s reportable segments:
		Three Months Ended
		March 31,
		2014		2013
	Auction and Liquidation reportable segment:
	Revenues - Services and fees	$	5,145	$	12,661
	Revenues - Sale of goods		9,268		36
	Total revenues		14,413		12,697
	Direct cost of services		-2,705		-3,080
	Cost of goods sold		-9,064		-21
	Selling, general, and administrative expenses		-2,740		-4,094
	Depreciation and amortization		-42		-45
	Segment income		-138		5,457
	Valuation and Appraisal reportable segment:
	Revenues - Services and fees		7,240		5,976
	Direct cost of services		-3,158		-3,072
	Selling, general, and administrative expenses		-2,771		-2,069
	Depreciation and amortization		-38		-27
	Segment income		1,273		808
	UK Retail Stores reportable segment:
	Revenues - Sale of goods		-		2,281
	Cost of goods sold		-		-1,499
	Selling, general, and administrative expenses		-		-1,600
	Depreciation and amortization		-		-15
	Segment income		-		-833
	Consolidated operating income from reportable segments		1,135		5,432
	Corporate and other expenses		-2,393		-3,087
	Interest income		2		2
	Interest expense		-628		-634
	Income (loss) before income taxes		-1,884		1,713
	Benefit (provision) for income taxes		814		-778
	Net income (loss)		-1,070		935
	Net (loss) income attributable to noncontrolling interests		264		-354
	Net (loss) income attributable to Great American Group, Inc.	$	-1,334	$	1,289
	Capital expenditures:
	Auction and Liquidation segment	$	36	$	15
	Valuation and Appraisal segment		-		83
	UK Retail Stores segment		-		129
	Total	$	36	$	227
		As of		As of
		March 31,		December 31,
		2014		2013
	Total assets:
	Auction and Liquidation segment	$	54,307	$	65,066
	Valuation and Appraisal segment		8,598		8,611
	Total	$	62,905	$	73,677
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	'
	The following table presents revenues by geographical area:
		Three Months Ended
		March 31,
		2014		2013
	Revenues:
	Revenues - Services and fees:
	United States	$	10,881	$	16,435
	Europe		1,504		2,202
	Total Revenues - Services and fees		12,385		18,637
	Revenues - Sale of goods
	United States		9,268		36
	Europe		-		2,281
	Total Revenues - Sale of goods		9,268		2,317
	Total Revenues:
	United States		20,149		16,471
	Europe		1,504		4,483
	Total Revenues - Services and fees	$	21,653	$	20,954
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	'
	The following tables presents long-lived assets and identifiable assets by geographical area:
		As of		As of
		March 31,		December 31,
		2014		2013
	Long-lived Assets - Property and Equipment, net:
	United States	$	907	$	990
	Europe		88		100
	Total Long-lived Assets	$	995	$	1,090
	Identifiable Assets:
	United States	$	57,705	$	68,405
	Europe		5,200		5,272
	Total Long-lived Assets	$	62,905	$	73,677

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]	'	'
Minimum lease payment receivable	$4,208	$4,367
Lease purchase option	4,242	4,242
Unearned income	-458	-510
Total lease finance receivable	$7,992	$8,099

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mandatorily redeemable noncontrolling interests issued after November 5, 2003	$2,150	$2,273
Total liabilities measured at fair value	2,150	2,273
Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mandatorily redeemable noncontrolling interests issued after November 5, 2003	0	0
Total liabilities measured at fair value	0	0
Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mandatorily redeemable noncontrolling interests issued after November 5, 2003	0	0
Total liabilities measured at fair value	0	0
Fair Value, Inputs, Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mandatorily redeemable noncontrolling interests issued after November 5, 2003	2,150	2,273
Total liabilities measured at fair value	$2,150	$2,273

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Notes Payable	$6,570	'	$6,856
Cost Of Reimbursable Expense	1,264	1,518	'
Foreign Currency Transaction Gain (Loss), before Tax	39	309	'
Revenues, Total	21,653	20,954	'
Restricted Cash and Cash Equivalents, Current	80	'	325
Minimum Lease Payments, Sale Leaseback Transactions, Total	8,450	'	'
Changes In Fair Value Of Noncontrolling Interests	123	'	'
Depreciation, Depletion and Amortization, Nonproduction, Total	131	707	'
Oil Rigs [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Restricted Cash and Cash Equivalents, Current	'	'	160
Property, Plant and Equipment, Other Types [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Depreciation, Depletion and Amortization, Nonproduction, Total	132	161	'
Liquidation Service Contract [Member] | Sales Revenue, Segment [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Concentration Risk, Percentage	15.00%	38.60%	'
Operating Segments [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Cost Of Reimbursable Expense	679	568	'
Collaborative Arrangement [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Revenues, Total	8,092	'	'
Cost of Revenue, Total	'	$998	'

ACCOUNTS_RECEIVABLE_Details

ACCOUNTS RECEIVABLE (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Accounts receivable	$9,192	$8,402
Unbilled receivables	1,236	731
Total accounts receivable	10,428	9,133
Allowance for doubtful accounts	-275	-275
Accounts receivable, net	$10,153	$8,858

ACCOUNTS_RECEIVABLE_Details_1

ACCOUNTS RECEIVABLE (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Balance, beginning of period	$275	$371
Add: Additions to reserve	0	0
Less: Write-offs	0	0
Less: Recoveries	0	0
Balance, end of period	$275	$371

GOODS_HELD_FOR_SALE_OR_AUCTION2

GOODS HELD FOR SALE OR AUCTION (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Long Lived Assets Held-for-sale [Line Items]	'	'
Assets Held-for-sale, Current, Total	$4,906	$13,964
Aircraft Parts [Member]	'	'
Long Lived Assets Held-for-sale [Line Items]	'	'
Assets Held-for-sale, Current, Total	497	500
Machinery and Equipment [Member]	'	'
Long Lived Assets Held-for-sale [Line Items]	'	'
Assets Held-for-sale, Current, Total	$4,409	$13,464

GOODS_HELD_FOR_SALE_OR_AUCTION3

GOODS HELD FOR SALE OR AUCTION (Details Textual) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Long Lived Assets Held-for-sale [Line Items]	'	'
Notes Payable, Current, Total	$6,570	$6,856
Oil Rigs [Member]	'	'
Long Lived Assets Held-for-sale [Line Items]	'	'
Assets Held-For-Sale, Capital Leased Assets, Net	2,708	2,708
Aircraft Parts [Member]	'	'
Long Lived Assets Held-for-sale [Line Items]	'	'
Assets Held-For-Sale, Property, Plant and Equipment	897	897
Machinery and Equipment [Member]	'	'
Long Lived Assets Held-for-sale [Line Items]	'	'
Assets Held-For-Sale, Property, Plant and Equipment	$1,701	$10,756

GOODWILL_AND_OTHER_INTANGIBLE_1

GOODWILL AND OTHER INTANGIBLE ASSETS (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Intangible Assets and Goodwill [Line Items]	'	'
Goodwill	$5,688	$5,688
Customer Relationships [Member]	'	'
Intangible Assets and Goodwill [Line Items]	'	'
Finite-Lived Intangible Asset, Useful Life	'6 years	'
Finite-Lived Intangible Assets, Gross	970	970
Finite-Lived Intangible Assets, Accumulated Amortization	970	970
Auction and Liquidation Reportable Segment [Member]	'	'
Intangible Assets and Goodwill [Line Items]	'	'
Goodwill	1,975	'
Valuation and Appraisal Reportable Segment [Member]	'	'
Intangible Assets and Goodwill [Line Items]	'	'
Goodwill	3,713	'
Trademarks [Member]	'	'
Intangible Assets and Goodwill [Line Items]	'	'
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$140	$140

CREDIT_FACILITIES_Details_Text

CREDIT FACILITIES (Details Textual)	3 Months Ended						12 Months Ended	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014
	USD ($)	USD ($)	Minimum [Member]	Maximum [Member]	Accounts Receivable Line Of Credit [Member]	Accounts Receivable Line Of Credit [Member]	Accounts Receivable Line Of Credit [Member]	Line Of Credit [Member]	Line Of Credit [Member]	Line Of Credit [Member]	UK Credit Agreement [Member]
					USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	GBP (£)
Line of Credit Facility [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	'	'	'	'	'	'	'	'	'	$100,000	£ 50,000
Line of Credit Facility, Expiration Date	'	'	'	'	'	'	'	'	'	15-Jul-18	'
Line of Credit Facility, Interest Rate Description	'	'	'	'	'prime rate plus 2% (6% at March 31, 2014), payable monthly in arrears	'	'	'	'	'The interest rate for each revolving credit advance under the Credit Agreement is, subject to certain terms and conditions, equal to the LIBOR plus a margin of 2.25% to 3.25% depending on the type of advance and the percentage such advance represents of the related transaction for which such advance is provided.	'
Interest Expense, Total	628	634	'	'	9	38	'	149	85	'	'
Line Of Credit Facility Borrowing Capacity Percentage	'	'	5.00%	20.00%	'	'	'	'	'	'	'
Amortization of Deferred Loan Origination Fees, Net	'	'	'	'	'	'	'	23	68	'	'
Line Of Credit Facility Maximum Borrowing Capacity Before Amended	'	'	'	'	'	'	2,000	'	'	'	'
Line Of Credit Facility Maximum Borrowing Capacity Amended	'	'	'	'	'	'	3,000	'	'	'	'
Line Of Credit Maturity Date Amended	'	'	'	'	'	'	3-Feb-15	'	'	'	'
Line of Credit Facility, Success Fee	'	'	'	'	'	'	'	$100	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity, Percentage	'	'	'	'	'	'	85.00%	'	'	'	'
Line of Credit Facility, Collateral	'	'	'	'	'	'	'accounts receivable of GAAV	'	'	'	'

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'	'
$60,000 notes payable to each of the former Great American Members and the Phantom Equityholders of GAG, LLC issued in connection with the Acquisition dated July 31, 2009	$49,844	$50,483
Total long-term debt	49,844	50,483
Less current portion of long-term debt	1,085	1,724
Long-term debt, net of current portion	$48,759	$48,759

LONGTERM_DEBT_Details_Textual

LONG-TERM DEBT (Details Textual) (USD $)

3 Months Ended

1 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Jan. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2009

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2010

Dec. 31, 2013

Dec. 31, 2011

4-May-10

Phantom Equityholders [Member]

Phantom Equityholders [Member]

Great American Members [Member]

Related Party Notes Payable [Member]

Related Party Notes Payable [Member]

Subordinated Unsecured Promissory Notes Payable [Member]

Subordinated Unsecured Promissory Notes Payable [Member]

Subordinated Unsecured Promissory Notes Payable [Member]

Subordinated Unsecured Promissory Notes Payable [Member]

Subordinated Unsecured Promissory Notes Payable [Member]

Subordinated Unsecured Promissory Notes Payable [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Issuance Date

'

'

'

'

'

31-Jul-09

'

'

'

'

'

'

'

Debt Instrument, Face Amount

'

'

'

'

'

'

$60,000

'

'

'

'

'

$52,419

Debt Instrument, Periodic Payment

'

'

'

'

'

4,383

'

8,621

'

'

'

'

'

Long-term Debt, Gross

'

'

'

1,085

48,759

55,617

'

48,759

'

46,996

'

46,996

55,617

Debt Instrument, Frequency of Periodic Payment

'

'

'

'

'annual principal payments

'five equal annual principal payments

'

'

'

'

'

'

'

Debt Instrument, Date of First Required Payment

'

'

'

'

'

31-Jul-10

'

'

'

'

'

'

'

Debt Instrument, Interest Rate Terms

'

'

'

'

'

'quarterly in arrears beginning October 31, 2009

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

12.00%

'

'

'

12.00%

'

3.75%

'

Debt Instrument Interest Rate Decrease

'

'

'

'

'

'

'

'

'

3.75%

'

'

'

Debt Instrument, Maturity Date

'

'

'

'

31-Jul-18

31-Jul-14

'

'

'

31-Jul-18

'

'

'

Debt Instrument Minimum Covenant

'

'

'

'

'

'

'

'

'

20,000

'

'

'

Interest Payable

'

'

'

'

'

'

'

'

'

'

'

1,762

'

Debt Instrument, Annual Principal Payment

'

'

'

'

'

11,123

'

'

'

'

'

'

'

Repayments of Debt

'

'

640

'

'

'

'

'

'

'

'

'

'

Interest Expense, Total

628

634

'

'

'

'

'

467

509

'

'

'

'

Interest Payable, Current

'

'

'

'

'

'

'

$302

'

'

$325

'

'

Debt Instrument, Interest Rate, Effective Percentage

'

'

12.00%

3.75%

3.75%

'

'

'

'

'

'

'

'

Business Acquisition, Equity Interest Issued Or Issuable, Number Of Shares

'

'

'

'

'

10,560,000

'

'

'

'

'

'

'

NOTES_PAYABLE_Details_Textual

NOTES PAYABLE (Details Textual) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	29-May-08	Mar. 31, 2014
In Thousands, unless otherwise specified			Machinery and Equipment [Member]	Notes Payable [Member]	Forbearance Agreement [Member]
Debt Instrument [Line Items]	'	'	'	'	'
Long-term Debt, Gross	'	'	'	$12,000	'
Debt Instrument, Interest Rate, Stated Percentage	'	'	'	20.00%	0.00%
Guarantor Obligations, Maximum Exposure, Undiscounted	'	'	'	1,200	'
Debt Instrument, Maturity Date	'	'	'	29-May-09	'
Debt Instrument Maturity Date Amended	'	'	'	26-Sep-09	'
Payments Under Guarantee Obligations	1,200	'	'	'	'
Oil Rigs Net Carrying Value	'	'	2,708	'	'
Notes Payable, Total	6,570	6,856	'	'	'
Loans and Leases Receivable, Net Amount, Total	$7,992	$8,099	'	'	'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Current:	'	'
Federal	$0	$0
State	1	0
Foreign	0	-230
Total current provision	1	-230
Deferred:	'	'
Federal	-641	840
State	-174	168
Foreign	0	0
Total deferred provision (benefit)	-815	1,007
Total provision (benefit) for income taxes	($814)	$778

INCOME_TAXES_Details_1

INCOME TAXES (Details 1)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Tax Disclosure [Line Items]	'	'
Provision for income taxes at federal statutory rate	-34.00%	34.00%
State income taxes, net of federal benefit	-6.20%	6.20%
Foreign tax differential	0.00%	3.80%
Other	-3.00%	1.40%
Effective income tax rate	-43.20%	45.40%

INCOME_TAXES_Details_2

INCOME TAXES (Details 2) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Deferred tax assets:	'	'
Allowance for doubtful accounts	$132	$128
Goods held for sale or auction	556	530
Deductible goodwill	533	520
Accrued liabilities and other	1,852	1,128
Mandatorily redeemable noncontrolling interests	688	671
Note payable to Phantom Equityholders	385	376
Foreign tax and other credit carryforwards	591	591
Net operating loss carryforward	8,687	8,665
Total deferred tax assets	$13,424	$12,609

INCOME_TAXES_Details_Textual

INCOME TAXES (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Domestic Tax Authority [Member]	'
Income Tax Disclosure [Line Items]	'
Operating Loss Carryforwards	$20,558
Operating Loss Carryforwards Expiration Dates	'will expire in the tax year ending December 31, 2029
State and Local Jurisdiction [Member]	'
Income Tax Disclosure [Line Items]	'
Operating Loss Carryforwards	21,617
Operating Loss Carryforwards Expiration Dates	'2031
Foreign Tax Authority [Member]	'
Income Tax Disclosure [Line Items]	'
Tax Credit Carryforward, Amount	$342
Tax Credit Carryforward Expiration Date	'2022

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share, Basic and Diluted [Line Items]	'	'
Net income (loss) attributable to Great American Group, Inc.	($1,334)	$1,289
Weighted average shares outstanding:	'	'
Basic (in shares)	28,682,975	28,682,975
Effect of dilutive potential common shares:	'	'
Restricted stock units and non-vested shares	0	0
Contingently issuable shares	0	973,455
Diluted (in shares)	28,682,975	29,656,430
Basic earnings (loss) per share (in dollars per share)	($0.05)	$0.04
Diluted earnings (loss) per share (in dollars per share)	($0.05)	$0.04

EARNINGS_PER_SHARE_Details_Tex

EARNINGS PER SHARE (Details Textual)	3 Months Ended
	Mar. 31, 2014
Employee Stock Option [Member]	'
Earnings Per Share, Basic and Diluted [Line Items]	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share, Amount	95,573
Escrow Subject To Cancellation Escrow Claims [Member]	'
Earnings Per Share, Basic and Diluted [Line Items]	'
Antidilutive Securities Excluded From Computation Of Earnings Per Share, Amount	1,320,000

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details Textual) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013
Commitments And Contingencies [Line Items]	'
Loss Contingency, Damages Sought, Value	$2,850

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues:	'	'
Revenues - Sale of goods	$9,268	$2,317
Cost of goods sold	-9,064	-1,520
Selling, general and administrative expenses	-7,984	-10,937
Operating loss	-1,258	2,345
Other expenses	'	'
Loss before benefit for income taxes	-1,884	1,713
Benefit for income taxes	814	-778
Net loss	-1,070	935
Net loss attributable to noncontrolling interest	264	-354
Net loss attributable to Great American Group, Inc.	-1,334	1,289
Shoon Trading Limited [Member]	'	'
Revenues:	'	'
Revenues - Sale of goods	'	2,281
Cost of goods sold	'	-1,499
Selling, general and administrative expenses	'	-1,615
Operating loss	'	-833
Other expenses	'	'
Other expenses	'	-35
Loss before benefit for income taxes	'	-868
Benefit for income taxes	'	230
Net loss	'	-638
Net loss attributable to noncontrolling interest	'	-383
Net loss attributable to Great American Group, Inc.	'	($255)

RELATED_PARTY_TRANSACTIONS_Det1

RELATED PARTY TRANSACTIONS (Details Textual) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]	'	'
Due from Related Parties, Current	$132	$0
Notes Receivable Related Parties Current	0	703
Notes Receivable, Related Parties, Noncurrent	0	497
Shoon Trading Limited [Member]	'	'
Related Party Transaction [Line Items]	'	'
Debt Instrument, Maturity Date	'	3-May-14
Equity Method Investment, Ownership Percentage	'	44.40%
Accounts and Notes Receivable, Net, Total	'	1,200
Payments to Acquire Loans Receivable	'	1,300
Business Acquisition, Effective Date of Acquisition	'	4-May-12
Loan Remaining Principal Outstanding	'	353
Proceeds from Issuance of Debt	'	847
Discount On Additional Loans Borrowings	'	40
Extended Debt Instrument Maturity Date	'	3-Aug-15
Debt Instrument, Interest Rate, Stated Percentage	'	6.50%
Notes Receivable Related Parties Current	'	703
Notes Receivable, Related Parties, Noncurrent	'	497
Loans Receivable, Description of Variable Rate Basis	'	'LIBOR plus 6.0%
Repayments of Debt	1,200	'
CA Global Partners, LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Due from Related Parties, Current	'	$45

BUSINESS_SEGMENTS_Details

BUSINESS SEGMENTS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'
Revenues - Services and fees	$12,385	$18,637	'
Revenues - Sale of goods	9,268	2,317	'
Total revenues	21,653	20,954	'
Direct cost of services	-5,863	-6,152	'
Cost of goods sold	-9,064	-1,520	'
Selling, general, and administrative expenses	-7,984	-10,937	'
Segment income	-1,258	2,345	'
Corporate and other expenses	-2,393	-3,087	'
Interest income	2	2	'
Interest expense	-628	-634	'
Income (loss) before income taxes	-1,884	1,713	'
Benefit (provision) for income taxes	814	-778	'
Net income (loss)	-1,070	935	'
Net (loss) income attributable to noncontrolling interests	264	-354	'
Net (loss) income attributable to Great American Group, Inc.	-1,334	1,289	'
Capital expenditures	36	227	'
Total	62,905	'	73,677
Auction and Liquidation Reportable Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues - Services and fees	5,145	12,661	'
Revenues - Sale of goods	9,268	36	'
Total revenues	14,413	12,697	'
Direct cost of services	-2,705	-3,080	'
Cost of goods sold	-9,064	-21	'
Selling, general, and administrative expenses	-2,740	-4,094	'
Depreciation and amortization	-42	-45	'
Segment income	-138	5,457	'
Capital expenditures	36	15	'
Total	54,307	'	65,066
Valuation and Appraisal Reportable Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues - Services and fees	7,240	5,976	'
Direct cost of services	-3,158	-3,072	'
Selling, general, and administrative expenses	-2,771	-2,069	'
Depreciation and amortization	-38	-27	'
Segment income	1,273	808	'
Capital expenditures	0	83	'
Total	8,598	'	8,611
Uk Retail Stores Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Revenues - Sale of goods	0	2,281	'
Cost of goods sold	0	-1,499	'
Selling, general, and administrative expenses	0	-1,600	'
Depreciation and amortization	0	-15	'
Segment income	0	-833	'
Capital expenditures	0	129	'
Reportable Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Segment income	$1,135	$5,432	'

BUSINESS_SEGMENTS_Details_1

BUSINESS SEGMENTS (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Total Revenues - Services and fees	$12,385	$18,637
Total Revenues - Sale of goods	9,268	2,317
Total Revenues	21,653	20,954
United States [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total Revenues - Services and fees	10,881	16,435
Total Revenues - Sale of goods	9,268	36
Total Revenues	20,149	16,471
Europe [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total Revenues - Services and fees	1,504	2,202
Total Revenues - Sale of goods	0	2,281
Total Revenues	$1,504	$4,483

BUSINESS_SEGMENTS_Details_2

BUSINESS SEGMENTS (Details 2) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]	'	'
Total Long-lived Assets - Property and Equipment, net	$995	$1,090
Total Identifiable Assets	62,905	73,677
United States [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total Long-lived Assets - Property and Equipment, net	907	990
Total Identifiable Assets	57,705	68,405
Europe [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total Long-lived Assets - Property and Equipment, net	88	100
Total Identifiable Assets	$5,200	$5,272