In the State of Ohio, there are more than 3,200 licensed auctioneers, apprentice auctioneers and auction businesses. In order to operate as an auctioneer you must provide an Ohio auctioneer bond, attend an approved auction school, serve a full year as an apprentice, and act as a bid caller in 12 auctions, and pass a written and verbal examination. An auctioneer as defined by Ohio Code Chapter 4701, is any person who engages, or who by advertising or otherwise holds the person out as being able to engage, in the calling for, recognition of, and the acceptance of, offers for the purchase of real or personal property, goods, or chattels at auction either directly or through the use of other licensed auctioneers or apprentice auctioneers. An sole practitioner must provide a $25,000 Ohio auctioneer bond. If the principal licensee wishes to operate as a “firm” then a separate $50,000 Ohio auction firm bond must be provided. The Ohio Department of Agriculture refers to these bond obligations as an auctioneer bond statement and an auction firm bond statement respectively, both of which serve as guarantees of compliance with Chapter 4701. National surety leader, Surety One, Inc., will write these bonds for all applicants regardless of credit condition. If you would like fidelity bond coverage to protect against losses due to employee dishonesty, we provide excellent rates. Visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for an Ohio auctioneer bond application or for further information about auctioneer bonds in any state where you wish to obtain a license.
