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How much do auctioneer or auction firm bonds cost in Ohio?
A $25,000 Ohio auctioneer bond costs just $250 per year and is issued instantly online, while a $50,000 Ohio auction firm bond is subject to underwriting. To determine the cost, an underwriter will review the applicant’s qualifications. Auction firm bonds for highly qualified applicants start at $500 per year.
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Why do I need an auctioneer or auction firm bond?
Companies that arrange, manage, sponsor or advertise personal property at an auction as a professional auction firm must post a $50,000 surety bond and individual auctioneers must post a $25,000 surety bond to comply with the Ohio Department of Agriculture’s licensing requirements.
The Ohio Department of Agriculture, Auctioneer Program, Enforcement Division requires anyone conducting business as an auctioneer or auctioneer firm in the state to post a surety bond to ensure compliance with Chapter 4707 of the Ohio Revised Code and all lawful orders and regulations of the Ohio Department of Agriculture.
Terms of auctioneer and auction firm bonds
Ohio auctioneer and auction firm bonds expire annually on June 30, so the bond premium may be prorated depending on the date it becomes effective. Our team of surety experts works hard to get all applicants bonded according to their specific needs.
How to become a licensed auctioneer in Ohio
Before applying for a license, an auctioneer must attend an approved auction school, serve a full year as an apprentice, and act as a bid caller in at least 12 auctions. To apply, the applicant must provide the Department with the following materials:
- Completed application form and auctioneer supplement application form
- $25,000 surety bond
- Completed police waiver form for a background check and take it to the local police or sheriff’s department. A written response from the local authority with the official stamp or seal placed upon this form or a written response from the police or sheriff’s department on department letterhead is required.
- 2x2 inch photo (face only) taken within the last 60 days
- Pay the appropriate license fee and exam fee
- Original letter on the stationary of a school approved by the Ohio Auctioneers Commission verifying the applicant’s attendance at and graduation from the school
After the licensing materials are submitted, the applicant must take and pass a written and verbal examination . If the applicant is a non-Ohio resident or is applying for reciprocity, they must follow the appropriate instructions.
How to become an auctioneer firm in Ohio
Ohio auction firm applicants must send a completed auction firm application form to the Department of Agriculture, Auctioneer Program, Enforcement Division at 8995 E. Main St. Bldg. 1, Reynoldsburg, OH 43068. All applicants must include the following documentation:
- $50,000 surety bond
- Complete the police waiver form for a background check and take it to the local police or sheriff’s department. A written response from the local authority with their official stamp or seal placed upon this form or a written response from the police or sheriff’s department on department letterhead is required
- A check or money order payable to Treasurer, State of Ohio, in the amount of $115.00
After all forms have been filed and requirements have been met, the applicant will be notified by mail of the date, time and place of examination, if applicable. The license will be issued if the applicant meets all the requirements and the firm manager passes the examination.
Complete licensing information can be accessed via the Additional Resources section of this page.