How much does an auctioneer surety bond cost in Virginia?
The Department of Professional and Occupational Regulation in the Commonwealth of Virginia requires auctioneers to post $10,000 surety bonds to legally work within the state.
SuretyBonds.com offers these 2-year bonds for just $175! No credit check is required, so all applicants pay the same low price. Simply click the Buy Now button below to visit our secure payment portal to purchase your bond online today.
|Bond Type||Bond Amount||Cost|
|$10,000 Auctioneer Bond||$10,000||$175 for 2 years|
Why do I need this bond?
By purchasing an auctioneer bond in Virginia, the principal (auctioneer) guarantees to comply with the provisions of Title 54.1, Chapter 6 of the Code of Virginia (1950). If the applicant conducts business unethically, this bond will protect harmed parties from financial loss up to the full bond amount. Prohibited acts under this bond include:
- using false advertising
- deceiving the Board during licensing
- rendering false reports of auction prices and sales
- selling any goods before the price has been set by contract with the owner
- and more
What’s the fine print?
Auctioneer bonds in Virginia remain continuous unless otherwise canceled by the surety. To cancel the bond, the surety must give written notice of cancellation to the principal and to the Virginia Auctioneers Board at the address of the Department of Professional and Occupational Regulation in Richmond, Virginia. This notice must be received by all parties at least 60 days prior to the effective date of cancellation.
If a Virginia auctioneer surety bond is purchased within 5 days of the end of a calendar month, the expiration or effective-through date will be 2 years and 1 month from the end of the month in which the bond is purchased. The Virginia Auctioneers Board Regulations require that the bond must commence no later than the effective date of the license and must not expire sooner than the expiration date of the license.
How to become an auctioneer in Virginia
To become a licensed auctioneer in Virginia, applicants must:
- be at least 18 years of age
- have not been previously found to have violated any applicable regulations or laws while performing auctioneer duties or been convicted or found guilty in the U.S. of a misdemeanor involving moral turpitude or any felony
- successfully complete a course of study at a school of auctioneering that has been approved by the board or an equivalent course
- pass the Virginia Licensed Auctioneer’s Examination administered by the Auctioneers Board or its designee
Complete licensing information can be accessed via the Important Links section of this page.
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