Local auction rooms with live and online bidding

Sellers such as households, estates, small businesses and dealers pay commission. Buyers pay the winning bid plus any buyer's premium.

Commission on each lot sold, buyer's premium, and fees for services such as removals, cataloguing or minimum lot charges. Regular sale dates build a steady flow of buyers.

• Confident public speaking or willingness to learn auctioneering
• Valuing and describing a wide range of goods
• Managing people, stock and a busy sale day

• Auctioneer, agent or second-hand dealer licensing varies by state and territory, so check before you trade
• Check trust account and record keeping rules for money held on behalf of sellers
• Public liability, property and stock insurance, plus workers compensation once you hire staff
• Check council zoning and approval for running sales from your premises
• Rent and lease commitments are a risk if consignments are slow in the early months
• Items such as firearms, alcohol and some antiques can have extra rules, so check before accepting them

Startup costs are typically around $12,000 to $60,000, depending on your premises, fit-out, systems and insurance. These are estimates, and your own costs will vary with the size of the unit and how you run your sales.

Monthly revenue is typically around $4,000 to $20,000, depending on how many lots you sell, their prices and how often you hold auctions. This is an estimate only, and it is not the same as profit.

Auctioneer, agent or second-hand dealer licensing varies by state and territory, so check before you trade. Also check trust account and record keeping rules for seller money, council zoning, and extra rules for items such as firearms, alcohol and some antiques.