WV Auctioneer Bond Overview
- Purpose: To hold auctioneers financially liable for following all licensing laws
- Who Needs It: All auctioneers, apprentices and auction house owners in WV
- Regulating Body: The West Virginia Department of Agriculture
- Bond Amount: $25,000 for auctioneers/auction houses; $5,000 for apprentices
- Premium Price: $250 or $100 flat rate, respectively
What Is a West Virginia Auctioneer Bond?
Auctioneers and auction houses in West Virginia must file a bond with the Department of Agriculture. Surety bonds hold auctioneers financially liable for following all licensing laws and regulations, such as:
- Managing auction funds properly
- Delivering goods and funds appropriately
- Conducting auctions according to local and state laws
If auctioneers break the bond terms, the public is protected from financial harm by the surety.
How Much Do West Virginia Auctioneer Bonds Cost?
The state-required $25,000 West Virginia auctioneer and registered auction house bonds cost a flat rate of $250. Apprentice auctioneers only need a $5,000 bond which costs $100. Select your bond below to buy now.
How Does a West Virginia Auctioneer Bond Work?
Auctioneer surety bonds create a legally-binding contract between three parties:
- Principal: The West Virginia auctioneer, apprentice or auction house
- Obligee: The Department of Agriculture
- Surety: The surety provider
In this contract, the principal (auctioneer/auction house) is responsible for upholding the bond terms to the obligee. If they fail to do so, harmed parties can file a claim to recover damages. The surety pays valid claims then seeks reimbursement from the principal.
How Do I Get an Auctioneer Bond in West Virginia?
You can get your West Virginia auctioneer bond in minutes with SuretyBonds.com. Simply select your bond type, enter your information, and check out instantly online.
After purchasing, you’ll receive an email copy of your bond. Then, you must file the bond with the Department of Agriculture as instructed.
How to Become an Auctioneer in WV?
The West Virginia Department of Agriculture oversees auctioneer and auction house licensing. To apply, you'll need to submit your original $25,000 surety bond, copy of a valid photo ID, application form, $50 exam fee (cash or check), and the $100 application fee.
Note: Apprentices taking the auctioneer exam must also include a signed Affidavit from their sponsor.
Mail your completed packet to this address:
West Virginia Department of Agriculture
Executive Division
1900 Kanawha Boulevard East
State Capitol, Room E-28
Charleston, WV 25305
