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Online Art Auctions

About Startup Costs

The startup costs provided in this database include an approximate financial investment that will be needed to start the business. This is generalized information and should only be used as a yardstick to determine business startup costs. Your investment will vary based on factors such as equipment, transportation, licensing and permits, operating location, working capital and initial marketing and advertising budgets. Remember a successful entrepreneur is one who carefully researches and plans every aspect of a new business venture, including the financial investment needed to start a business and the working capital required to achieve positive cash flow.

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Business At A Glance

Online Art Auctions

Startup Costs: $10,000 - $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.

About

Franchises Available? No
Online Operation? Yes

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Connect artists with customers far and wide in online auctions.

Business Overview

Once again, millions of professional and amateur artists are seeking ways to sell their artwork and this fact creates a fantastic opportunity to start an online art auction service. The challenge with operating this type of venture will not be securing works of art to be auctioned, but promoting the site in such a manor that it receives a lot of visitor hits and interest. In terms of marketing and promoting the site, consider building an alliance with a major player on the web like a brand name site. Revenues and profits will be created when artwork has been successfully auctioned and I would suggest retaining a commission in the range of 10 to 25 percent of the total selling value for providing the service.