The Virginia Auctioneers Surety Bond is required by the Department of Professional and Occupational Regulation (DPOR).
Within the DPOR there is an Auctioneers Board. The Auctioneers Board regulates individuals and firms that conduct auctions in the Commonwealth of Virginia. An auctioneer is defined as all persons or firms who conduct auctions or offer their services to sell at auction in Virginia.
Obtaining the Auctioneers Surety Bond is just one of the requirements to obtain a license. There is both a pre-license and license renewal education requirement. Virginia does offer a reciprocal license with some states. Check with the Virginia DPOR to see if your State has a reciprocal agreement.
A surety bond in the amount of $10,000 is required. The bond states that the bond holder will comply with the provisions of Title 54.1, Chapter 6, Code of Virginia (1950). Proof of current bond must be submitted in order to obtain or renew the license. Virginia will mail a license renewal notice. Failure to receive this notice will not relieve the individual or firm requirement to renew. Any licensee who fails to renew a license within 30 days after the license expires will be required to pay a late renewal fee.
The cost of this bond is as low as $175 for the 2 year license period. Apply in minutes with our easy to use online application. We offer low rates and fast service. The effective date of the bond must be no later than the effective date of the license. The expiration date of the bond must be on or after expiration date of the license.