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How much does the California auctioneer bond cost?
The California auctioneer or auction company bond costs $350 for the state-required 2-year term. Your $350 premium will cover 2 years of bonding as required by the California Secretary of State.
Where can you get a California auctioneer surety bond?
You can purchase your California auctioneer bond online 24/7. You must provide the following information for Secretary of State filing approval.
- auctioneer or auction company name
- physical business address
- license type
Once your payment is received, your official bond documents will be delivered to your email instantly.
How fast can I get an auctioneer or auction company bond?
SuretyBonds.com offers instant California auctioneer or auction company bond delivery 24/7. Buy now to receive your official auctioneer surety bond in minutes by email.
What is a California auctioneer surety bond?
California Civil Code 1812.600 requires individuals file a $20,000 surety bond before conducting business as an auctioneer or auction company in the state. This bond specifically protects individuals harmed by an auctioneer or auction company that commits fraud, dishonesty, misstatements, misrepresentation, deceit, unlawful acts/omissions, or otherwise fails to provide their professional services as agreed upon. State form SFSB-455 is officially titled the “Surety Bond Auctioneer/Auction Company” but is more commonly known as the “auctioneer bond” or “auction company bond.”
Why do you need a California auctioneer surety bond?
By filing this California surety bond, you agree to perform your duties as an auctioneer or auction company as required by state law, specifically the California Civil Code. If you fail to do so, your issuing surety company will pay valid claims to harmed individuals up to the full $20,000 bond amount, which you must reimburse in full.
Who regulates auctioneers and auction companies?
The California Secretary of State Special Filings Unit enforces the state's surety bond requirement for auctioneers and auction companies, but it does not require or issue statewide licensing. If you have questions about becoming an auctioneer, auction company, or auction house in California, you can call the SOS at 1(916)653-6814.
How do California auctioneers file your bond?
Submit your official surety bond documentation to the Secretary of State by mail along with a $30 filing fee. The state requires that you file a separate bond for each business location.
California Secretary of State
P.O. Box 942870
Sacramento, CA 94277-2870
How do I update or change my auction company bond form?
If the Secretary of State requires your bond to be updated for any reason, contact your surety company. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common changes requested are the auctioneer or auction company's name or address.
How do I renew my auctioneer bond?
You must renew your California auctioneer bond before its current 2-year term ends as required by state law. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be sent to you to keep your bond active. If you don't file your renewal paperwork with the SOS before your current surety bond expires, you'll be required to file a new surety bond with a new qualification.
What are the licensing requirements for auctioneers in California?
The California Secretary of State doesn't require or issue state licenses for auctioneers or auction companies. You do, however, have to maintain an active surety bond form SFSB-455 on file with the SOS as required by California code, which includes a $30 filing fee.