A Guide to Auctioneer Bonding
We can can issue auctioneer bonds nationwide. Whether you work in California, Virginia, New York or Louisiana, we can help!
Most states require that individuals file a surety bond before they can be licensed as a professional auctioneer or auction house operator. Just like other surety bonds, auctioneer bonds protect consumers in the event of fraud or other ethical breaches. With this particular bond, consumers are typically protected against the substitution of goods and/or the misrepresentation of auction items by the auctioneer. But don’t worry if you don’t know much about surety bonds yet; we’ve developed this guide just for you!
State Specific Costs
Auctioneer bond costs and requirements vary greatly as the bond amounts and regulations surrounding each license are established on a state level. Select your state below for more information about auctioneer bonds in your area.
- New Hampshire
- New York
- Rhods Island
Pay a Low Rate for Your Auctioneer Bond
Your premium will depend on how much coverage your state requires. Auctioneer bond amounts can fall anywhere between $2,000 and $50,000. For example, Louisiana requires auctioneers to file $10,000 bonds that expire annually while CALIFORNIA requires $20,000 bonds issued for two-year terms. Surety bonds for auctioneers in NEW YORK can be issued instantly for just $100 without a credit check.
Bad Credit? No Problem!
Like many other surety bonds, auctioneer bond premiums are typically credit based. But don’t worry, we can approve 99% of applicants — even those who fall into the nonstandard (bad credit) market. we have an exclusive bad credit bond program designed specifically for applicants with low credit scores.
Enjoy Quick, Easy & Accurate Bonding
We can gives every applicant a free, no-obligation surety bond quote. Your bond will be issued as soon as your payment is received. At this time, you’ll receive a copy of your bond via email, and your original bond form will be shipped to you via your shipping preferences.
Learn More About Surety Bonds for Auctioneers
Surety bonds are legally binding contracts that involve three parties. When it comes to auctioneer bonds:
- The state is the obligee that requires the bond.
- The auctioneer is the principal that purchases the bond.
- The surety is the underwriter that produces the bond.
By posting a surety bond, an auctioneer promises to fulfill certain obligations as outlined in the bond form. By providing the bond, the surety agrees to make sure these obligations are upheld.
If an auctioneer fails to uphold the bond’s terms, however, harmed parties can file a claim against the bond. If the claim is found to be valid, the surety will ensure the obligations are fulfilled and/or reimburse harmed parties to resolve the situation.
Apply for your surety bond
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