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Rhode Island Auctioneer Bond

How much does my bond cost?

All auctioneers who conduct business within the State of Rhode Island are required to post a surety bond. Bond amounts are determined by your specified license type.

Apprentice auctioneers must post a bond in the amount of $2,000.

Resident and non-resident auctioneers must have a $10,000 surety bond.

SuretyBonds.com instantly issues this specific bond for just $100. Post your bond today by submitting a bond request.

Bond Type Bond Amount Cost*
Auctioneer Bond apprentice $2,000 $100 Buy Now
Auctioneer Bond resident or non-resident $10,000 $100 Buy Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Pay just $100 for your bond. Start your bond application by completing a bond request or calling 1 (800) 308-4358.

Why do I need this bond?

By posting a bond, the principal (auctioneer) guarantees to comply with all the provisions of Title 5, Chapter 5-58 of the General Laws of Rhode Island. Furthermore, the principal promises to pay over all monies received at auction to the owners and to pay all duties to the State.

More specifically, this bond offers a form of reimbursement to any person harmed by unethical acts of the principal.

Be bonded in 5 minutes or less! Call 1 (800) 308-4358 or fill out a bond request to experience fast and accurate bonding services.

What’s the fine print?

All bonds will remain in full force unless canceled by the surety. If the surety chooses to cancel a bond, a written cancellation notice must be mailed to the Director of the Department of Business Regulation and the principal 30 days prior to the deemed cancellation date.

How to become an auctioneer in Rhode Island

To conduct legal business as an auctioneer within Rhode Island, you must be licensed. All auctioneer license applications must be sent to the Department of Business Regulation. Applications must be completed in full and include the following attachments:

  • $10 application fee
  • 2 1x1 color photos
  • tax affidavit

Apprentice auctioneer licensees must also include the following with their submitted applications:

  • $60 license fee
  • Rhode Island criminal history record
  • $2,000 surety bond
  • supervising auctioneer affidavit

Resident auctioneer licensees should attach the following information to sent applications:

  • $600 license fee
  • Rhode Island criminal history record
  • $10,000 surety bond
  • $15 examination fee

Non-resident auctioneer license applications must have the following attachments:

  • $900 license fee
  • national criminal history record
  • $10,000 surety bond
  • uniform consent to service of process
  • $15 examination fee

Get bonded today! Apply here.

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