How much does an auctioneer bond cost in Massachusetts?
Massachusetts auctioneer bonds are required by the State of Massachusetts Consumer Affairs and Business Regulation’s Deputy Director of Standards in the amount of $10,000.
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| Bond Type | Bond Amount | Cost | |
|---|---|---|---|
| $10,000 Auctioneer Bond | $10,000 | $100 |
Why do I need this bond?
Auctioneer bonds in Massachusetts exist to protect customers and the state from any illegal acts an auctioneer might commit. Specifically, this bond type ensures that auctioneers will pay any and all fines or penalties incurred by him or her through violation of the provisions of Chapter 100 of the Massachusetts General Laws and any amendments thereof.
What’s the fine print?
Massachusetts auctioneer bonds are continuous until canceled. If the surety chooses to cancel this bond or if the auctioneer’s business license is terminated, notice must be given to the Acting Deputy Director of Standards 60 days prior to the termination date.
How to become an auctioneer in Massachusetts
Posting a Massachusetts auctioneer surety bond is only the first step toward becoming a licensed auctioneer. Multiple requirements must be met when sending in your application:
- Minimum 18 years of age
- Pass required written exam
- Submit $10,000 surety bond
- Pay $100 licensing fee
- Submit two letters of recommendation signed by licensed auctioneers, members of Massachusetts Bar, or elected officials
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Additional Resources
Massachusetts Consumer Affairs and Business Regulation Auctioneer License Bond Form
Commonwealth of Massachusetts Division of Standards Application for Auctioneer’s License
Massachusetts Auctioneers Association State Laws Requirements
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