You bet auctions are a full-time job, and it’s a lot more diverse and involved than you think!
The job of auctioneer, or more broadly auction professional, is a full time profession for thousands of individuals in North America and around the world. The most recognizable and visual aspect of being an auctioneer is the bid calling, chanting or calling the auction. But, much like an iceberg, what you see on auction day is just a small portion of the work and effort that goes into successfully selling assets, real estate, automobiles, livestock, equipment, art, antiques or raising funds at a benefit gala.
The growth of online auctions has also seen many traditional live auctioneers supplement their live auction business by selling assets in an online auction marketplace. Some auctioneers have completely transitioned to an all online auction model to serve particular clients, asset classes or regions.
Auctioneers and auction professionals begin every auction with a contract and supervise the preparation, marketing and sale of the items or property for sale all the way through final closing and delivery. An auction project might be as short as a few weeks to over a year in the making. This level of preparation and skill requires full-time attention and demands full-time professionals.
While many auctioneers are full time in the profession, there are many who use auctioneering and auction work as a part-time or supplemental income. These part-time auctioneers or auction professionals are just as qualified and professional, and often work on a team of people called on to work a specific auction or on an as needed basis.
Like real estate agents and other sales professionals, many auctioneers work on a commission plus expenses compensation model. Many auctioneers own or work in small or medium sized businesses that sell several different types of assets or cover an area or region.
Interesting in becoming an auctioneer? Find schools near you.