Louisiana Auction Bond Overview
- Purpose: To protect the public from fraudulent acts by auctioneers
- Who Needs It: Live and online auctioneers and auction houses in Louisiana
- Regulating Body: The Louisiana Auctioneers Licensing Board
- Bond Amount: $10,000 for individuals, $25,000 for businesses
- Premium Price: $100 for the $10,000 bond, $250 for the $25,000 bond
What Is a Louisiana Auctioneer Bond?
A Louisiana auctioneer bond ensures that auctioneers and auction houses follow state law and represent goods honestly.
The Louisiana Auctioneers Licensing Board requires individual auctioneers to file a $10,000 bond and businesses to file a $25,000 bond.
How Much Do Auction Bonds Cost in Louisiana?
Louisiana auction bonds cost a flat rate of 1% of the bond amount:
- $10,000 individual auctioneer bond: $100
- $25,000 auction business bond: $250
Buy your bond instantly today — no credit check required!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Louisiana Auctioneer Bond Work?
Like all auction bonds, this bond creates a legal contract between you, the state and the surety.
| Bond Party | Description |
|---|---|
| Principal | The auctioneer or auction house purchasing the bond |
| Obligee | The Louisiana Auctioneers Licensing Board requiring the bond |
| Surety | The issuing surety provider |
The bond is your financial guarantee to the Board that you’ll uphold the Louisiana Auctioneers Licensing Law. This includes doing honest advertising and keeping accurate sales records.
If you break the law, those affected can file bond claims. The surety will pay valid claims up to your full bond amount. However, you’re responsible for refunding the surety.
How Do I Get My Bond?
If you’re ready to get bonded, simply enter your information into our secure online portal. After payment, we’ll email you the official bond form. Be sure to sign and file it with the Board.
Can I Get Bonded With Bad Credit?
Yes, these bonds don’t require a credit check! Anyone can purchase these bonds at the same rate.
How Do I Renew My Auction Bond?
Louisiana auction bonds expire annually on December 31. We’ll send you reminders and a renewal invoice starting 90 days before expiration. Once you pay the premium, you’ll receive a continuation certificate to file with the Board.
How Do I Update My Bond Information?
If you need to make any changes to your bond, email [email protected] with the new information. We’ll issue a bond rider if possible to amend your form.
How to Get an Auctioneer License in Louisiana
To become an auctioneer or start an auction business in Louisiana, you need to apply for a license online. If you plan to hold auctions in East Baton Rouge City or Parish, you also need a separate local auction license.
Auction businesses must designate a qualifying party to act as the auction business’s legal representative. You need to have an individual auctioneer license and meet the Board’s criteria for:
- Auction experience
- History of legal issues
- Financial stability
Sole proprietors still need to satisfy the qualifying party requirements.
Licenses expire annually on December 31. Fees are not prorated. Login to the online portal to renew or manage your license.
Note: You also need a dealer license from the LA Used Motor Vehicle Commission if you plan to auction five or more vehicles per year.
Does Louisiana Offer Reciprocal Licensing?
Yes, but Louisiana only offers reciprocal licenses for the following states:
- Alabama
- Arkansas
- Florida
- Georgia
- Kentucky
- Mississippi
- North Carolina
- Ohio
- Pennsylvania
- South Carolina
- Tennessee
- Texas
- Virginia
- West Virginia
You are only exempt from the auction business license if you meet all of the following criteria:
- Texas, Arkansas or South Carolina resident
- Sole proprietor
- In good standing with your state authority
