This bond is required for anyone who wants to work as a professional auctioneer in Virginia. The Virginia Auctioneers Board requires this $10,000 bond to protect the public from financial losses if an auctioneer breaks state laws, acts dishonestly, or fails to properly handle money from auctions. Think of it as a safe…
Overview
What it is.
This bond is required for anyone who wants to work as a professional auctioneer in Virginia. The Virginia Auctioneers Board requires this $10,000 bond to protect the public from financial losses if an auctioneer breaks state laws, acts dishonestly, or fails to properly handle money from auctions. Think of it as a safe…
Who usually needs it
All individuals and business entities (firms) applying for an auctioneer license in the Commonwealth of Virginia.
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.
StateVABond amount$10,000Term length2 yearsObligeeVirginia Auctioneers Board, Department of Professional and Occupational RegulationRenewalThe bond must be maintained continuously and renewed every two years to coincide with the license term; proof of a current bond must be submitted to the Board for license renewal.Bond classLicense BondCategoryMotor VehicleBondAuctioneer Surety BondStatutory referenceVa. Code § 54.1-603JurisdictionState
