In order to conduct an auction business in the State of Maine you must be licensed and provide a Maine auctioneer bond. Auctioneer means a person licensed by the Department of Professional and Financial Regulation to conduct, advertise or offer services to conduct auctions of real, personal or mixed property. Unless specifically exempted, a license is required to engage in the business of auctioneering pursuant to Maine revised statutes. All applicants for an Auctioneer license must pass the Board’s licensing examination covering the Board’s laws and rules. You may access a convenient study guide here. The Maine auctioneer bond must be in the am0un of $10,000 and must run concurrent with the license, expiring each March 31st. The Maine auctioneer surety bond obligation is a guarantee of compliance by the licensee with the conditions of any written auctioneer’s contract made by the licensee and that the licensee will not violate any provision of the law in the conduct of the business. Surety One, Inc., will issue these for experienced applicants regardless of the principal’s credit condition. We also offer superlative fidelity bond coverages to protect against losses due to employee dishonesty. Visit the nation’s surety leader at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for a Maine auctioneer bond application or information about auctioneer bonds in any state.
