How to Start an Auctioneer Business

Step-by-Step Guide

1. 1

   Step 1: Find out about your state's auction license requirements.

   Many states require certification, which often includes training at a qualified auctioneer school.
2. 2

   Step 2: Evaluate the competition.

   Find out who local competitors are.
   
   Visit their websites, and attend some auctions to find ways to compete.
   
   Local auctioneers may deal with specific geographic areas or items.
   
   Some ways to differentiate from the competition include targeting a specific town or specializing in certain items.
   
   Since many auctioneers only sell high-end items, holding auctions for vintage or used goods instead of antiques could be an opportunity. , This is one of the best ways to learn the business.
   
   Local competitors might be hesitant to give you tips, but auctioneers in other geographic areas may be more willing to share.
   
   Join groups and societies both online and offline to learn more. , This may be required to get an auction license for your state, and even if it isn't, it's a good way to learn how to start an auctioneer business.
   
   Schools usually offer short training periods of a week or so.
   
   You will learn about voice techniques and bid calling, as well as aspects like advertising and state laws. , This will be part of your job in evaluating items to sell.
   
   Books, journals, and comparing items on online sites like eBay will help develop your appraising skills so that you can quickly get an idea of how much items can sell for. , Some auctioneers travel and hold auctions on-site.
   
   Another option is starting an auction house, where you collect items to sell on commission or buy them outright.
   
   This type of auction business requires more overhead since you'll need space for storage and a budget for purchasing items. , Part of the appeal of auctions is that they are fun for participants.
   
   Write a few jokes and use humor to draw in the crowd's attention.
   
   Inflect the pitch of your voice for added excitement. , Aside from state licensing, you may need to get permits and licenses to run a local business.
   
   You'll also have to find out how to register your business with the state and the IRS. , Create a website with information about your auction business.
   
   List upcoming auctions, including items to be sold, on your website and in local newspapers.
   
   Offer services like free appraisals to prospective customers.
3. 3

   Step 3: Network with other auctioneers.

4. 4

   Step 4: Get training at an auctioneer school.

5. 5

   Step 5: Learn how to appraise items.

6. 6

   Step 6: Decide how to run your auction business.

7. 7

   Step 7: Learn to overcome stage fright and to provide an entertaining atmosphere for auction attendees.

8. 8

   Step 8: Seek assistance from local officials and a business adviser or attorney.

9. 9

   Step 9: Advertise your services.

Detailed Guide

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