Who needs a NY auctioneer bond?
To become an auctioneer or run an auction house in New York City, you must post a $2,000 surety bond as part of the licensing process. This auctioneer bond protects the public against misrepresentation, fraud, substitution, and other illegal activities during the auction process.
If an auctioneer conducts business unethically, the bond provides financial protection to clients who experience harm. Illegal activities include false advertising, deception, selling goods prematurely, and misinforming the public about pricing or sales.
Your bond must be properly signed and name the City of New York as the Certificate Holder. Submit a copy of the bond receipt to NYC Consumer and Worker Protection, proving you’ve paid your bond premium in full and that it doesn’t expire before the licensing period ends.
Get Your NY Auctioneer Bond:
How much does an auctioneer bond cost in New York?
$2,000 auctioneer bonds in New York City may cost as low as $100. Because the underwriting process is simple, we can often issue these bonds instantly. Then you can purchase and print your bond to fulfill your city and state requirements.
Once your bond is issued, it will remain active until canceled. NY auctioneer bonds are valid for two years and expire on June 15 of even-numbered years (2022, 2024, etc.). Remember to renew your surety bond before it expires to continue operating your business. If you plan to cancel your bond, provide your obligee (City of New York) with a written notice beforehand.
How to Become an Auctioneer in New York
To become an auctioneer in New York City, follow this general process (see the application checklist for details):
- Complete a basic individual license application.
- Provide photo identification.
- Submit one current passport-size photo in color.
- Provide a signed copy of your $2,000 auctioneer bond.
- Fill out three Auctioneer Character Certificates.
- Get fingerprinted with IdentoGO, and pay the processing fee.
- Pay a license fee.
- Complete a Granting Authority to Act Affirmation.
You must first register an account with the City of New York before filing your application. Ensure you gather all of the items listed above before proceeding with the online application.
Apply for a NY Auctioneer Bond
To fulfill the bonding requirement in your New York City license application to sell merchandise by public auction, fill out our simple bond application. Once you’re approved, you can pay for and print your bond. The application process is simple, and auctioneer bonds are often issued instantly.
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.