On-Site estate and household auctions

Families, executors, downsizing seniors and property owners pay a commission on what sells. Buyers may pay a buyer's premium.

A commission percentage on total sales, sometimes with a minimum fee, plus charges for cleanup, advertising or hauling unsold items.

• Public speaking and a clear bidding call
• Valuing mixed household goods
• Organizing a sale day with helpers
• Dealing sensitively with grieving or stressed families

• State auctioneer licenses and bonds, which vary, so check your state's licensing board
• General liability insurance, since bidders walk through someone else's property
• Clear contracts with executors or owners about ownership, reserves, payout timing and unsold items
• Local permits for signs, parking and holding sales at residential addresses, so check your city or county
• Sales tax collection rules and record-keeping, as these differ by state
• Heavy lifting and long sale days, so plan for helpers and breaks

Startup costs are typically around $3,000 to $15,000, depending on your equipment, insurance and how you set up sale days. Your own figure will vary with the size of the sales you plan to run and the help you need.

Monthly revenue is typically around $2,000 to $10,000, depending on how many sales you run, what the contents sell for and your commission rate. Revenue is not profit, so account for helpers, advertising and insurance costs.

Check your state's auctioneer licenses and bonds, which vary. Also check general liability insurance, local permits for signs, parking and residential sales, sales tax collection rules, and written contracts with executors or owners covering reserves, payout timing and unsold items.