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#1
07-16-2020, 09:40 PM
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Part of the problem is that so many people see an auction as little work, high reward. From the outside looking in I guess it might appear that way. I can assure anyone who might be considering it, it is NOT a get rich quick business. Between building up a consignor AND bidder base to all the work that it takes to describe and image every lot sufficiently it is a TON of man hours.
Add to that if you are a normal start-up that doesn't have a benefactor willing to risk a million dollars of his collectibles, you are likely starting with auctions that gross about 10k - 20k. That generates a GROSS profit of about $3k - $6k. Obviously everyone's expenses can be different but I will say that for me that has led to a net profit of $1k - $2k. How many of those do you need to do a year to make a living? That may help to explain why some small companies take short cuts and/or act in a fashion that is ethically questionable at best and criminal at worst. In a sense I am lucky because PA is a license state. Going to school and putting in the time to learn BEFORE running auctions made a BIG difference, and it's still a struggle, but at least I went in with my eyes open. It really is a case of the old saying "It's a tough way to make an easy living."
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions 
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