Required Licenses

Required Licenses

• Auctioneer License: Must complete a state-approved auctioneer training program and pass a licensing exam.
• Business License: Requires registration with the local business authority and payment of applicable fees.
• Sales Tax Permit: Necessary to collect sales tax on auction sales, requiring an application with the state’s revenue department.

Insurance Requirements

• General Liability Insurance: Coverage of at least $1 million to protect against claims of bodily injury and property damage.
• Professional Liability Insurance: Coverage for errors and omissions in services provided, typically ranging from $500, 000 to $1 million.
• Workers' Compensation Insurance: Required if you have employees, covering medical costs and lost wages due to work-related injuries.

Training Certifications

• Certified Auctioneer: Completion of an accredited auctioneer training program, including internships or practical experience.
• Personal Property Appraisal Certification: Training in assessing the value of items being auctioned, often requiring a course and examination.
• Online Auction Certification: Courses that focus on conducting auctions via online platforms, covering technology and best practices.

Local Business Permits

• Zoning Permit: Approval from local zoning board to operate an auction house in the selected location.
• Sign Permit: If advertising with signage outside the business premises, a permit may be required from the local government.
• Health and Safety Permit: Compliance with local health and safety regulations, which may require inspections and approvals.