Starting my own Auction service locally... what kinds of things do I need to think about?
March 30, 2009 8:49 AM   Subscribe

Starting my own Auction service locally... what kinds of things do I need to think about? Price points, consignments, fees, etc... any help appreciated.

I've been mulling over the idea of starting my own Auction service within my local area. I've been an antique/collectibles dealer for a number of years since I was in high school helping my mother run her business and picking up a lot of information over time. Currently, I run the family business part-time with mostly EBay sales being our bread and butter, making some solid extra income on the side.

We've been to auctions galore in the past to increase our inventory to sell on EBay, but we've been disappointed at the selection locally within the 25 mile radius of our home. We live in a town of roughly 80-100k plus people and it is a twin city with anotherr 50-70k in the neighboring city. There are rarely any auctions in the area, and rarely any auctioneering services utilizing the Internet, online live bidding, and Internet marketing. Hence, the idea has come up to start some sort of gallery/auction service to entice collectors.

I'd like to dive into the minds of anyone who currently does this. Standard fees, where's the real money made, what's a standard way of renting out a space or buying a space, pricing, etc... any help would be appreciated.

I also need ideas on how to cut costs or what I haven't thought of yet in terms of costs down the road. Any help on any topic involving running a small business in the auctioneering world.
posted by MMALR to Work & Money (1 answer total) 1 user marked this as a favorite
 
Check if your state requires an auctioneer's license to auction property.
posted by cass at 8:24 AM on March 31, 2009


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