Mississippi Auctioneer Bond Overview
- Purpose: To hold auctioneers financially liable for following license laws
- Who Needs It: All auctioneers, galleries and auction firms in Mississippi
- Regulating Body: The Mississippi Auctioneers Commission
- Bond Amount: $10,000
- Premium Price: $100 for a 1-year term
What Is a Mississippi Auctioneer Bond?
The Mississippi Auctioneers Commission (MAC) requires all auction firms, galleries and independent auctioneers to have a $10,000 surety bond. The bond holds auctioneers financially liable for following licensing rules and regulations.
How Much Do Auctioneer Bonds Cost in Mississippi?
Mississippi auctioneer bonds cost just $100 for a one-year term. You can also select a multi-year term to save up to 25%. Get your bond today!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Mississippi Auctioneer Bond Work?
When you get an auctioneer bond, you enter a three-party agreement.
| Bond Party | Description |
|---|---|
| 1. Principal | You, the licensed auctioneer |
| 2. Obligee | The Mississippi Auctioneers Commission |
| 3. Surety | The issuing surety provider |
By entering this contract, you agree to follow state licensing laws. If terms are broken, a claim can be filed on the bond. The surety will pay for valid claims, then, you must reimburse the surety.
How Do I Get My Auctioneer Bond?
You can purchase your Mississippi auctioneer bond instantly online just follow these quick steps:
- Provide personal and business information
- Pay the premium
- File your bond with the Auctioneers Commission
File your bond by mailing it with your license application to the following address:
Mississippi Auctioneers Commission
P.O. Box 50
353 South 4th Street
Morton, MS 39117
How Do I Renew My Bond?
Auctioneer bonds expire annually, unless you select a multi-year term. To maintain your license and renew your bond, follow the instructions from our renewal reminders.
You’ll receive periodic email and text reminders starting 90 days before the expiration date. Pay your renewal invoice by using the provided link, or over the phone by calling 1(800)308-4358.
How Do I Update My Bond Information?
You can request to update simple bond information with a bond rider. Larger updates may require a new bond form to be issued. Just call 1(800)-308-4358 for assistance.
How to Get an Auction License in Mississippi
You’ll need to provide the following materials to get an auction license as a Mississippi resident:
- Diploma from an auction school
- Personal references
- Notarized copy of voter registration card
- $10,000 surety bond
- Clear photocopy of driver’s license
- Completed application*
- Payment for application fees
*Note: Complete either an auctioneer license application or firm application. Once approved, you’ll need to take an examination scheduled by the MAC.
Mail your application, all fees and surety bond form to the following address:
Mississippi Auctioneer Commission
P.O. Box 50
353 South 4th Street
Morton, MS 39117
How Much Does an Auction License Cost?
Auction licenses cost between $400 and $650 depending on the business license you apply for. See a full breakdown of fees in the charts below.
| Fee Type | Fee Amount |
|---|---|
| Application and Exam | $100 |
| License | $200 |
| $10,000 Surety Bond* | $100 |
| Fee Type | Fee Amount |
|---|---|
| Application | $100 |
| Vendor | $250 |
| License | $200 |
| $10,000 Surety Bond* | $100 |
| Fee Type | Fee Amount |
|---|---|
| Application Processing | $100 |
| License | $200 |
| $10,000 Surety Bond* | $100 |
| Fee Type | Fee Amount |
|---|---|
| Application Processing | $100 |
| Out-of-State Vendor | $250 |
| License | $200 |
| $10,000 Surety Bond* | $100 |
*Note: The $10,000 surety bond premium reflects SuretyBonds.com rates for a one-year term.
