Tennessee Auctioneer Bond

To get an auctioneer license in Tennessee, you need a $50,000 bond. You file it with the Tennessee Auctioneer Commission. It protects buyers and sellers.

Bond Amount
$50,000
Typical Premium
$500–$2,500 (2-year term)
Term
2 Years
Required By
Tennessee Auctioneer Commission (Dept. of Commerce & Insurance)
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What Is the Tennessee Auctioneer Bond?

Think of the Tennessee auctioneer bond as a promise to the people at your auctions. Break a rule or hold back sale money, and they can claim against the bond. The surety collects from you after.

The Tennessee bond is set at $50,000.

Who Needs This Bond in Tennessee?

How to Get Bonded — Step by Step

  1. Start your Tennessee auctioneer license application.
  2. Get your bond here. Most quotes come back fast.
  3. Send the bond to the Tennessee Auctioneer Commission.
  4. Once approved, get licensed and run your auctions.

Renewal & Continuous Bond Coverage

Tennessee auctioneer licenses run two years. Your bond must stay in force the whole time. Start before it expires so you do not lose your license.

Frequently Asked Questions

Does the Tennessee 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 Tennessee?

Most quotes come back fast, 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 Tennessee 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.