Ohio Auctioneer Bond

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An Ohio Auctioneer Bond is a type of surety bond that is required by the Ohio Department of Agriculture for both individual auctioneers and auction firms in order to obtain a license to operate in the state. It acts as a form of financial protection for the public in case the auctioneer or firm engages in any unethical or illegal practices. The bond amount is $25,000 for individual auctioneers and  $50,000 for auction firms. The cost of the surety bond is usually between 1% and 3% of the bond amount. Surety1 will shop its many markets to procure the right price at the right terms.

How to Get an Ohio Auctioneer Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Ohio Auctioneer Bond will be shipped to the bond applicant.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.} 

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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Who is required to carry an Auctioneer License?

In the state of Ohio, anyone who performs the function of an auctioneer or conducts an auction must be licensed under the Ohio Department of Agriculture. This applies to both individuals and businesses involved in auction activities. Here’s a breakdown of who needs an Ohio Auctioneer License:

Individuals:

• Anyone who chants bids and conducts the sale at an auction, regardless of the type of auction (real estate, estate, charity, etc.)
• Individuals who manage, arrange, sponsor, contract for, take consignments, and handle monies for a personal property auction, whether live or online.

Businesses, Any auction firm that:

• Organizes and manages auctions
• Arranges auctions for others
• Sponsors auctions
• Takes consignments for auction
• Handles monies from auctions

Exemptions, A few specific exemptions exist for the Ohio Auctioneer License requirement:

• Licensed Before July 1, 2003: Auctioneers licensed before this date are “grandfathered in” and don’t need a license under the current regulations.
• Licensed Professionals:
  • Individuals already licensed for specific professions like livestock dealers, motor vehicle dealers, or real estate agents can conduct occasional auctions related to their licensed field without needing an additional auctioneer license.
• Certain Organizations: Charitable or nonprofit organizations conducting auctions solely for their own fundraising purposes are exempt.
• Personal Property Sales: Individuals selling their own personal property at an auction don’t need a license.
• Educational Auctions: Auctions conducted purely for educational purposes, without financial transactions, are exempt.

It’s crucial to remember that these exemptions are specific and have limitations. If you’re unsure whether you need an Ohio Auctioneer License, it’s best to consult the Ohio Department of Agriculture for clarification.

Ohio Auctioneer License Requirements:

Here are the requirements to become a licensed auctioneer in Ohio, as of January 17, 2024:

Education and Training:

• Attend an approved auction school: This requirement was recently removed as of September 13, 2022, thanks to House Bill 321. Previously, completing an auctioneer program or apprenticeship was mandatory.

Examinations:

• Pass a written examination: This comprehensive exam covers various topics related to auctioneering, including the Ohio Revised Code Chapter 4707, ethics, procedures, and best practices. The exam is offered four times a year by the Ohio Department of Agriculture.
• Pass an oral examination: After passing the written exam, you’ll need to demonstrate your auctioneering skills in a live setting before a panel of examiners. This test assesses your chant, clarity, and ability to effectively conduct an auction.

Other Requirements:

• Be at least 18 years old: You must be of legal age to enter into contracts and hold a professional license.
• Be a U.S. citizen or lawful permanent resident: This ensures you have the legal right to work in the United States.
• Have a clean background check: The Ohio Department of Agriculture will conduct a background check to ensure you have no criminal convictions related to fraud, theft, or other financial crimes.
• Obtain a Ohio Auctioneer Bond. The bond amount is $25,000 for individual auctioneers and $50,000 for auction firms.
• Pay the required fees: The application fee is $200, and the exam fee is $25.

Additional Information:

• Continuing education: Licensed auctioneers must complete eight hours of continuing education every two years to maintain their licenses.
• Proof of experience (optional): While no longer mandatory, applicants can submit proof of attending and participating in at least 12 auctions within the past two years. This can demonstrate your practical experience and potentially strengthen your application.

Here are some helpful resources for aspiring auctioneers in Ohio:

• Ohio Department of Agriculture – Auctioneer Program: https://agri.ohio.gov/programs/auctioneers
• National Auctioneers Association: https://www.auctioneers.org/
• Ohio Auctioneer Association: https://ohioauctioneers.org/

These are just the general requirements, and it’s always best to contact the Ohio Department of Agriculture for the latest updates and specific details.