Your gavel closes the sale. The bond keeps buyers and sellers protected.
The bond your auctioneer license depends on
Most states and many cities require an auctioneer or auction-house bond before issuing a license. It guarantees that you will conduct auctions honestly and lawfully — accurately representing lots, remitting sale proceeds to sellers, and following your state's auction and consumer-protection laws. If you don't, a harmed buyer or seller can claim against the bond.
What an auctioneer bond guarantees
An auctioneer bond protects the public — buyers and sellers — not you. It guarantees you will account for and remit auction proceeds, represent merchandise truthfully, and comply with auction licensing law. If the surety pays a valid claim, you must reimburse it in full. It's a licensing and consumer-protection requirement, not insurance for your business.
How much an auctioneer bond costs
The bond amount is set by the licensing authority. The premium you pay is a small percentage of that amount — typically around 1%–3% for applicants with reasonable credit, more for weaker credit — so a modest bond often costs a few hundred dollars a year. We market it to multiple surety companies to get you the best rate.
Requirements vary by state and locality
Required amounts are commonly $5,000 to $50,000 and can be set at the state, county, or city level — and some jurisdictions require separate bonds for the auctioneer and the auction business. We confirm your exact requirement before quoting.
Auctioneer Bond requirements by state
The required amount and authority differ by state — and sometimes by city or county. We are licensed in all 50 states; request a quote and we will confirm the exact requirement that applies to you.
Frequently Asked Questions
What does an auctioneer bond cover?
It covers losses to buyers and sellers caused by the auctioneer's dishonesty, misrepresentation, or failure to remit proceeds or comply with auction law. It protects the public, not the auctioneer — you reimburse the surety for any paid claim.
How much does an auctioneer bond cost?
You pay a premium equal to a small percentage — typically around 1%–3% — of the bond amount set by your state or locality. On a $10,000 bond that's often around $100–$300 a year, depending on your credit.
Who needs an auctioneer bond?
Anyone applying for an auctioneer or auction-house license in a jurisdiction that requires one. Requirements vary widely by state and even by city or county, so confirm what applies where you'll be auctioning.
How do I get a auctioneer bond through Cory Washington & Co.?
Request a quote or contact our team. We confirm your exact requirement, market your bond across multiple surety companies that compete for it, and handle the filing. Cory Washington & Co. LLC is licensed in all 50 states.
All surety bond descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or bonding advice. Surety bonds are not insurance. Bond requirements — including amounts, obligees, and bond forms — are set by government authorities and other obligees and change over time; the information presented is general in nature and does not guarantee the availability, terms, conditions, or amount of any bond. Actual bond terms are governed by the bond form issued by the surety and the requirements of the obligee, and any bond remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds a surety, or issues a bond. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please confirm current requirements with the relevant authority and consult directly with a licensed professional at Cory Washington & Co. LLC.