LLC, Incorporation, Corporation etc. wholesale of cars on different auctions.
I generally prefer S corporations because they have tax advantages. At the end of the day if you are the only owner, the decision should be driven primarily by tax considerations. Many folks are intimidated by corporations, but in DE you can create a close corporation for your S corporation allowing you to run it almost like an LLC. Unless your accountant advises something else for tax reasons, you might want to seriously consider a Delaware close corporation and elect to be taxed as an S corporation. That could save you 15.3% tax on some of your income.
Fortunately you are in the state I like best when setting up new companies. Delaware does this better than anyone else in my view.
I do think you are best served by consulting with your accountant before deciding and using business counsel to set up the company, rather than one of the one size fits all companies that create new companies.
I am happy to discuss with you of course without obligation.
Generally speaking, I prefer LLCs for small businesses, but his is a big question that requires a lot more information to answer. Having employees vs none will affect the decision as well as the expected revenue flow, just to point to a couple considerations; there are more.
I will link you to a brief overview of entity types, but this is just general info which you can get online in a thousand places. What you really need to do is discuss your business objectives with a lawyer in private so all the legalities concerned can be discussed. You probably have a number of legal aspects to deal with here and may not yet even be aware of them (licenses, permits, trademark, employee/independent contractor issues, etc.).
Most of us here, including myself, offer a free phone consult.
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An LLC or an S-corporation will provide the business with a single level of tax. While an LLC is simpler to operate from an administrative perspective, the members of an LLC are subject to 15.3% self-employment tax. On the other hand, only the wages of the S-Corp shareholder who is an employee are subject to employment tax. The remaining income is paid to the owner as a 'distribution' which is taxed at a lower rate. You should consult with both a lawyer and an accountant before deciding on the best business entity form for your business.