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How to start an auction house and become an auctioneer?

I am interested in starting an auction house in Florence or Queen Creek Arizona. I have determined I would like to become a licensed auctioneer and run the auction myself. I need to acquire the knowledge needed to run a well organized auction and becoming a licensed auctioneer. Is anyone familiar with the process of running a successful auction house in Arizona?

1

Peruse the National Auctioneers Association (NAA) Web site for an overview of the auction world (see auctioneers.org).

2

Attend auctions for insight into the pace of the work. Also view the increasing numbers of auctions on TV and contact the sources they provide to gain information about the field.

3

Look into attending one of the auction schools listed on the NAA site to develop your bid-calling skills.

4

Understand that many auctioneers today also receive college degrees, with coursework in public speaking, marketing, acting and business. Find out if your state is one that requires licensure and a college degree to attain it.

5

Realize that you might begin working for an auction service as a ring person, who is an assistant responsible for confirming bids and attending to the small details of an auction. This work is a good way to get hands-on experience, since different types of auctions involve different procedures.

6

Become an expert in a few areas ‘ for example, real estate, art and livestock ‘ so that you will gain a solid reputation in those specialties.

7

Expect to eventually have to run your own auction business if you want to become very successful.

  1. Henry
    June 30th, 2012 at 01:47 | #1

    1

    Peruse the National Auctioneers Association (NAA) Web site for an overview of the auction world (see auctioneers.org).

    2

    Attend auctions for insight into the pace of the work. Also view the increasing numbers of auctions on TV and contact the sources they provide to gain information about the field.

    3

    Look into attending one of the auction schools listed on the NAA site to develop your bid-calling skills.

    4

    Understand that many auctioneers today also receive college degrees, with coursework in public speaking, marketing, acting and business. Find out if your state is one that requires licensure and a college degree to attain it.

    5

    Realize that you might begin working for an auction service as a ring person, who is an assistant responsible for confirming bids and attending to the small details of an auction. This work is a good way to get hands-on experience, since different types of auctions involve different procedures.

    6

    Become an expert in a few areas ‘ for example, real estate, art and livestock ‘ so that you will gain a solid reputation in those specialties.

    7

    Expect to eventually have to run your own auction business if you want to become very successful.
    References :
    http://www.ehow.com/how_16299_become-auctioneer.html#ixzz1lSXaRh00

  2. Barry
    June 30th, 2012 at 02:34 | #2

    There are a lot of auctioneer schools. You would be better off working as an auctioneer independent or for somebody at first. The hardest part of starting your own auction house is finding other people to put up items, or finding enough of your own merchandise to auction off.

    While most auction houses take 20-30% of the sale, there is risk. Auction houses cannot guarantee the item will bring 100% of retail. Whereas in spite of their reputation, pawn & antique shops, along with pickers may only offer 40-60% of retail, it is a percentage of guaranteed retail, which auction houses cannot guarantee. In addition they offer cash on the spot as opposed to a 1-2 week wait for a check.

    So competition with pickers and pawn shops is more intense than one might think.
    References :

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