How Much do Auctioneers Make?
Auctioneers typically receive 10% to 15% commission on gross sales. Specialized auctioneers in fine art and livestock can make six figures. Most auctioneer part-time alongside a full-time job. Their average annual income nears $50,000.
Auction Fees and Income
Initial seller consultations are typically free. The company Everything But the House charges 35% of total proceeds. A 10% to 15% commission is typical for auctioneers. Depending on the deal, they may also receive bonuses. Auctioneers do more than initiate bids and chant at breakneck speeds. They must also market the auctions through advertising and public relations, appraise the items being sold and finalize the sales.
How to Make Money as an Auctioneer
Auctioneers set sales terms, create bidding processes, and announce bids to buyers. Knowledge of trends and tax laws ensures successful sales. They don’t just speak rapidly—they chant rhythmically to lull bidders into a call and response pattern, eliciting more bids.
Nonprofit Auction Software and Charitable Auctions
Charitable auctions offer a unique niche wherein auctioneers can attain financial gain while supporting worthy causes. These activities help nonprofit organizations raise money for their philanthropic endeavors, and nonprofit auction software is essential to smoothly planning and administrating these events.