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Ohio Auctioneer or Auction Firm Bond

Ohio Auctioneer or Auction Firm Bond

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Who Requires the Auctioneer or Auction Firm Bond and Why Is It Needed?

The Ohio Department of Agriculture, Auctioneer Program, Enforcement Division requires professional auctioneers and auction firms to post surety bonds in order to protect the public from fraud, misrepresentation, substitution or other ethical breach in the process of auctioning property. Auctioneers must post a $25,000 bond and auction firms must post a $50,000 bond.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Ohio Auctioneer or Auction Firm Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the Bond Protect Against?

The bond protects any person that may be financially damaged due to violations by the licensee or its representative of the regulations set out by the Ohio Department of Agriculture or as outlined in the Ohio Revised Code Chapter 47407.

 

What is Needed to Obtain My License or Registration?

Anyone who performs the function of an auctioneer as defined in in the Ohio Revised Code 47407 and anyone who conducts an auction must be licensed by the Ohio Department of agriculture. General licensing requirements are as follows:

  • Serve a one year apprenticeship, act as a bid caller in twelve auctions
  • Attend a state approved auction school.
  • Pass auctioneer exam consisting of a written and verbal examination. 
  • Provide proof of financial responsibility in the form of an irrevocable letter of credit or a surety bond.
  • Complete Auctioneer License Application
  • Additional requirements may exist for Non-Resident or Reciprocal Applicants

Licensing Contact Information:

Ohio Dept. of Agriculture 
Auctioneer Program
8995 East Main Street 
Reynoldsburg, OH 43068 
Phone: (614) 728-6240
Email: auctioneer@agri.ohio.gov




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