Any individual seeking to be licensed as an auctioneer in the state of Minnesota. Required when: Required as a prerequisite to the issuance of an auctioneer license and before conducting any auction sales. Exemptions: The licensing and bonding requirements do not apply to property owners who have owned the property fo…
Overview
What it is.
Any individual seeking to be licensed as an auctioneer in the state of Minnesota. Required when: Required as a prerequisite to the issuance of an auctioneer license and before conducting any auction sales. Exemptions: The licensing and bonding requirements do not apply to property owners who have owned the property fo…
Who usually needs it
Any individual seeking to be licensed as an auctioneer in the state of Minnesota.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMNBond amountThe penal sum is set by the county treasurer and must be not less than $1,000 n…Term lengthAnnualObligeeCounty AuditorRenewalThe auctioneer license must be renewed annually with the county auditor, which requires the submission of a current surety bond and payment of the $20 license fee.Bond classLicense BondCategoryGovernmentBondAuctioneer BondStatutory referenceMinn. Stat. § 330.02JurisdictionState
