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Auctioneer with large crowd of buyers.

An auctioneer bond is a type of surety bond required for auctioneers to ensure they handle bidder deposits and auction proceeds honestly, protecting both bidders and sellers. This bond helps build trust in the auction process by holding auctioneers accountable for ethical conduct.

Key Highlights

  • Protects bidders and sellers from misappropriation of auction proceeds. 
  • Commonly required by state or local licensing authorities. 
  • Ensures adherence to regulations, offering reassurance to all auction participants. 

How do I purchase an auctioneer bond?

NFP, the nation's largest and most reliable surety company, is authorized to issue auctioneer bonds in each of the 50 states. We can provide the best rates for your bond, as well as the fastest issuance, to get your business off and running.

Our short online application makes it easy. Click below to start the application process today.

Auctioneer Bond FAQs

An auctioneer bond protects both bidders and sellers from financial loss caused by fraud, misrepresentation or failure to meet contractual obligations. It ensures that auctioneers conduct sales ethically, follow applicable laws and pay out proceeds accurately to sellers.

Anyone operating auctions in a state, county or city where the law requires licensing may need this bond. This can include individual auctioneers, auction companies or businesses conducting public sales.

The general requirements for obtaining an auctioneer bond can vary by state, but most follow a similar structure. Typical steps and conditions include: 

  • Licensing requirement. 
  • Bond amount set by the jurisdiction. 
  • Application process through a licensed surety company. 
  • Compliance with state laws governing auctions. 
  • Accurately representing items for sale. 
  • Understanding claims and liability under the bond. 

Premiums vary based on the bond amount required by your jurisdiction and your credit profile, but they are typically a small percentage of the bond’s value. Costs can be influenced by: 

  • Bond amount set by your state or municipality. 
  • Credit profile and history. 
  • Financial and compliance records of your business. 

An auctioneer bond works as a financial guarantee that the auctioneer will follow state and local laws when conducting auctions. If the auctioneer misrepresents items, fails to deliver goods or mishandles funds, harmed parties can file a claim. The surety company investigates and pays valid claims up to the bond amount. The auctioneer must then repay the surety up to the bond amount, including any legal fees and penalties. 

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