Massachusetts Auctioneer Bond Guide
If you are working as an auctioneer in Massachusetts, you'll need to purchase a surety bond. Read on to learn all about the bonding process.
Bond Overview
- Purpose: To ensure auctioneers operate legally and honestly
- Who Needs It: All auctioneers and auctioneer businesses in Massachusetts
- Regulating Body: The Massachusetts Office of Consumer Affairs & Business Regulations
- Required Coverage: $10,000
- Premium Rate: $100 for a 1-year term
What is the Massachusetts auctioneer bond?
Massachusetts General Laws Chapter 100 Section 3 requires individuals file a $10,000 surety bond before being licensed to work as an auctioneer in the state. This Massachusetts surety bond specifically requires a licensed auctioneer to comply with all provisions of Massachusetts General Laws Chapter 100 and pay all fines, penalties, and judgments resulting from any such violations. Put another way, the Massachusetts auctioneer bond protects the state and its consumers from financial losses resulting from illegal acts committed by an auctioneer.
How much does the Massachusetts auctioneer bond cost?
The Massachusetts auctioneer bond costs $100 annually. You can also save money on your bond premium by choosing our multi-year discount option during checkout.
How do I get an auctioneer bond in Massachusetts?
You can purchase your Massachusetts auctioneer bond online 24/7. Simply choose your preferred term and provide your auctioneer name and address for Office of Consumer Affairs and Business Regulation filing approval. Once your payment has been received, your official bond will be delivered to your email instantly.
How fast can I get a licensed auctioneer bond?
SuretyBonds.com offers instant Massachusetts auctioneer bond delivery 24/7. Buy now to receive your official auctioneer license bond in minutes by email.
Who is required to purchase the Massachusetts auctioneer bond?
Individual auctioneers and auction companies must comply with this $10,000 bond requirement. You must file your official Massachusetts surety bond with the state before being licensed as an auctioneer or auction company in the state.
Why do you need an auctioneer bond in Massachusetts?
By filing this Massachusetts surety bond for your auctioneer license, you agree to comply with state law while working as an auctioneer in the state. If you fail to do so, your issuing surety company will pay valid claims to harmed individuals up to the full $10,000 bond amount, which you would be required to reimburse.
Who regulates licensing for auctioneers?
The Massachusetts Office of Consumer Affairs and Business Regulations Division of Standards enforces licensing requirements for auctioneers working in the state. If you have questions about the auctioneers license, the status of your current license, or the bond requirement, you can contact the Division of Standards by calling 1(617)727-3480 or emailing [email protected].
How do I update or change my auctioneer bond form?
If the Division of Standards requires your auctioneer bond form to be updated for any reason, contact your surety provider. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common changes requested are updating the auctioneer's name or address to match the state's license.
How do I renew my Massachusetts auctioneer bond?
You must renew your Massachusetts auctioneer bond before the end of its current term. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be sent to you to keep your bond active according to the state's licensing requirement.
How do you get your auctioneer license in Massachusetts?
Complete the following steps to apply for your Massachusetts auction license.
- Fill out your auctioneer application.
- Provide your certified auction school diploma or certificate. (Your school does not need to be located in Massachusetts.)
- Purchase and file a $10,000 auction bond.
- Pay the $100 license fee.
- Provide 2 letters of recommendation from either licensed auctioneers, members of the Massachusetts Bar, or elected officials.
- Submit your application online or in person at the address below. Submitting your application in person will cost an additional $100 fee that must be paid by check or money order.
Division of Standards
1000 Washington St.
Suite 510
Boston, MA 02118
