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Bond cost

All auctioneers who conduct business within the State of Rhode Island are required to post a surety bond. Bond amounts are determined by your specified license type.

  1. Apprentice auctioneers must post a bond in the amount of $2,000.
  2. Resident and non-resident auctioneers must have a $10,000 surety bond.

We are instantly issues this specific bond for just $100. Post your bond today by submitting a bond request.

Why this bond

By posting a bond, the principal (auctioneer) guarantees to comply with all the provisions of Title 5, Chapter 5-58 of the General Laws of Rhode Island. Furthermore, the principal promises to pay over all monies received at auction to the owners and to pay all duties to the State.

More specifically, this bond offers a form of reimbursement to any person harmed by unethical acts of the principal.

Be bonded in 5 minutes or less! Call 888.610.4474 or submit a bond request to experience fast and accurate bonding services.

Auctioneer bond details

All bonds will remain in full force unless canceled by the surety. If the surety chooses to cancel a bond, a written cancellation notice must be mailed to the Director of the Department of Business Regulation and the principal 30 days prior to the deemed cancellation date.

Become an auctioneer

To conduct legal business as an auctioneer within Rhode Island, you must be licensed. All auctioneer license applications must be sent to the Department of Business Regulation. Applications must be completed in full and include the following attachments:

  • $10 application fee
  • 2 1×1 color photos
  • tax affidavit

Apprentice auctioneer licensees must also include the following with their submitted applications:

  • $60 license fee
  • Rhode Island criminal history record
  • $2,000 surety bond
  • supervising auctioneer affidavit

Resident auctioneer licensees should attach the following information to sent applications:

  • $600 license fee
  • Rhode Island criminal history record
  • $10,000 surety bond
  • $15 examination fee

Non-resident auctioneer license applications must have the following attachments:

  • $900 license fee
  • national criminal history record
  • $10,000 surety bond
  • uniform consent to service of process
  • $15 examination fee

Apply for your surety bond

Get a FREE Rhode island auctioneer bond Quote Today! Click here to begin