Brian Cairns, who set the auction room up three years ago, said he will need raise £300,000 to start again.
The saleroom, in a former Methodist church on Bede Burn Road, was ravaged by fire in the early hours of Friday, November 24, and more than 40 firefighters fought the blaze.
Cairns said he lost £50,000 worth of stock and is asking consignors to get in touch because all sales and customer information has been lost.
He is in talks with his insurance firm and structural surveyors are reviewing the situation at the church.
Cairns hopes to rebuild the church to hold auctions on the site again but is awaiting the outcome of fire and building reports.
“We will either repair it or have to knock it down. But we are looking to relocate as soon as possible and find a temporary location in the meantime,” he said.
He hopes to re-mortgage, use the insurance money that he might get and raise funds from investors to rebuild the business.