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How Much Does a Pennsylvania Auctioneer Bond Cost?
The cost of a Pennsylvania auctioneer bond is between $100 and $500. The state requires auctioneers to have a $5,000 surety bond. Instead of paying the full penal sum to meet the state’s requirement, you can purchase the bond from a surety company for a bond premium.
For more than a decade, our authorized surety company has served Pennsylvanian’s bond needs. Bond rates from 1% to 10% are available and are based on the applicant’s qualifications. Through our streamlined process, more than 99% of our customers qualify for a bond. Qualifications that we review to determine your bond rate include your financial assets, professional experience and credit rating.
For example, if you apply for an auctioneer bond with a 700 or higher credit score, your bond rate will be between 1% and 3%. The bond cost will be between $100 and $150.
Surety Bond Cost Based on Credit Score |
||||
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
Pennsylvania Auctioneer Bond |
$5,000 |
$100 - $150 |
$150 - $250 |
$250 - $500 |
How to Get a Pennsylvania Auctioneer Bond
1. Apply For Your Bond
Buying your auctioneer bond is fast and easy when you make your purchase through our surety company. We offer you a hassle-free, three-step process. It only takes a few minutes to fill out the online application as the first step.
Rob needed to buy an auctioneer bond to work in the state. He spent a couple of minutes applying and received a bond quote quickly. Rob used the online portal to pay the bond premium, and we emailed the bond to him soon afterward.
2. Review Your Bond Quote
Bond applications are reviewed immediately, so you will not wait long to receive your bond quote. Applications that are more complex, however, require additional review. We provide bond quotes for these applications in 48 hours or less.
3. Buy Your Bond
To complete our simple process, take advantage of our convenient online payment portal. After we receive your bond premium payment, we will quickly process your bond and email it to you. A mailed copy of your bond is available upon request.
Our bond experts are standing by to answer your questions and support you as needed. Contact us online or by phone at (877) 514-5146 today for assistance.
Auctioneer Bond Requirements in Pennsylvania
The Auctioneer and Auction Licensing Act establishes licensing requirements for those performing auctioneering activities across the state. One of the licensing requirements is a $5,000 surety bond. This bond must be issued by a surety company licensed by the Pennsylvania Insurance Department.
The auctioneer bond obligee is the Commonwealth of Pennsylvania. A certified Power of Attorney must be attached to the bond. The bond is continuous, so it remains in full force until it is canceled.
The auctioneer bond must remain active in order to maintain the required license. The bond premium must be paid annually to maintain the validity of the bond. We will contact you annually with payment instructions prior to the due date.
How to Get Your Auctioneer License in Pennsylvania
The State Board of Auctioneer Examiners is responsible for auctioneer licensing. A license is required to conduct live, online, extended and real-time auctions. The following items are required when applying for an auctioneer license in Pennsylvania
- A passing score on the Pennsylvania Auctioneer Examination
- Surety bond
- Criminal history check
- Educational transcripts
- Employment verification
- Eligibility letter
- Resume of experience
- $180 license application fee
If you have questions about auctioneer licensing in Pennsylvania, please contact:
Pennsylvania State Board of Auctioneer Examiners
2525 N. 7th Street
Harrisburg, PA 17110
Phone: (833) 367-2762
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What Our Clients Have To Say?
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!