Auction Industry Fundamentals

Online Auction School – Auction Industry Fundamentals Course

This course is catered toward individuals wanting to get involved in the auction industry but aren’t interested in learning the auction chant. This class mirrors the 85-hour pre-licensing course curriculum but it does not have a bid call training component. Bid call training is a state licensing requirement; therefore this course does not meet any state licensing requirements.

This 28-hour course dives into the business behind the auction industry. You will be instructed by a variety of prominent auctioneers about the different niches within the industry, business best practices, technology, laws, contracts, marketing and much more.

• Course Overview: This course is ideally suited to people who have an interest
   wish to pursue a career in the auction industry.
• Course Aim: The aim of this course is to provide students with an
  introductory level of education in basic auctioneering skills
  and procedures.
• Course Delivery: The delivery of this course is through an online on-demand format. Students are encouraged to progress through each module at their own pace.

Course Price: $995

Potential Career as an Auctioneer

While this course is only introductory, you may be curious what a potential career in auctioneering may look like if you enjoy this course. So here’s a quick overview:

The profession of auctioneering was first established so that rural families could sell their goods when no established store or market existed in their region. These families would hire an auctioneer who presided over the sale of all the items to eliminate any resemblance of unfair play and dispensed of them quickly. Auctions spread rapidly to urban centers.

Now auctioneers work at auction houses, charitable events and large-scale liquidation of assets, providing a means of sale that can be both fun and profitable. In terms of demand, the future of auctioneering looks very much like the present. Continuous turnover of estates, farm equipment changing hands, and charities’ increased reliance on donations of goods and services to raise money as opposed to receiving straight capital–all provide a steady market for auctioneers.

PRESENT AND FUTURE

Many auctioneers begin as assistants who take bids and tend to the details at auction. New auctioneers learn the protocol and procedures for different auctions; the larger the scale of the auction, the more specific skills are required. Many learn about the computer software associated with auctions, as well as the intangible and people-oriented skills.

FIVE YEARS OUT

Auctioneering skills improve; many auctioneers move from assistant positions to others, particularly in the marketing department, and learn how to publicize, run auctioneering ventures, and make them profitable. Pay doesn’t necessarily increase, but the attrition rate shrinks to 10 percent. People split into two groups; those who work for national auctioneering services for a salary, and those who start their own businesses. The majority start their own businesses between years four and six. People begin to develop specialties and regional reputations. Satisfaction is high, as many enjoy the freedom their profession brings.

TEN YEARS OUT

Ten-year auctioneers are, for the most part, independent practitioners with established reputations. Many have regular clients and have established specialty areas, such as livestock, restaurant equipment, aircraft, art, or firearms. Industry associations are significant in networking and finding new business. Salaries rise, but because private practitioners can only preside over as many auctions as days they are available, increases beyond this point are not considerable.

We offer our students essential tools and resources for the auction industry, whether you are looking for a new career path, know the latest technologies, or learn about a specific niche in the industry.

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