Ohio Auctioneer Bond

To get an auctioneer license in Ohio, you need a bond. The amount depends on your license type. It goes to the Ohio Department of Agriculture. You can set it up online.

Bond Amount
$25,000 / $50,000
Typical Premium
$250–$2,500/yr
Term
2 Years
Required By
Ohio Dept. of Agriculture
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What Is the Ohio Auctioneer Bond?

Think of the Ohio auctioneer bond as a promise to the people at your auctions. Wrong a buyer or seller, and they can claim against the bond. The surety collects from you after.

How much bond you need in Ohio:

Who Needs This Bond in Ohio?

How to Get Bonded — Step by Step

  1. Begin your Ohio license paperwork.
  2. Buy your bond online here — fast quotes.
  3. File the bond with the Ohio Department of Agriculture.
  4. Receive your license and start selling.

Renewal & Continuous Bond Coverage

Your Ohio license is good for two years. Renew the bond ahead of time so your license never drops.

Frequently Asked Questions

Why do new Ohio auctioneers post less?

New auctioneers post $25,000 for their first 3 years; auction firms post $50,000.

Does the Ohio bond protect me?

No. The bond protects your customers and the state, not you. If a claim is paid, you pay the surety back. The bond is not your own insurance.

How fast can I get bonded in Ohio?

We shop several sureties for you, often within a day. Many bonds are issued the same day for good credit.

How much does the bond cost?

You pay a yearly premium — a small percent of the bond amount. Good credit means a lower rate.

How a Surety Bond Works

An auctioneer bond is a type of surety bond. The picture below shows the three parties and what happens if someone files a claim.

Diagram of how a surety bond works: the obligee requires the bond, the principal applies and signs an indemnity agreement, and the surety issues the bond; if the principal fails, the obligee files a claim, the surety investigates and may pay, and the principal reimburses the surety.

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Related: All Ohio surety bonds · What is a surety bond? · How surety bond costs are calculated

Underwriting Disclosure. All surety bond applications are subject to underwriting review and approval by the issuing surety company. Quoted premiums are estimates only; final pricing is determined by individual underwriting factors, which may include personal and business credit history, financial statements, industry experience, and claims history. Many bonds qualify for instant online approval, while others may require additional documentation, financial review, or indemnitor signatures prior to issuance. SuretyBondly makes no representation, warranty, or guarantee of approval, eligibility, premium amount, bond form, or issuance timing. Bond amounts, forms, and requirements are governed by the applicable obligee and statutory authority and may change without notice. Information provided on this page is for general informational purposes only and does not constitute legal, financial, or tax advice.