Public Automobile Auction Firm
You must currently be a licensed Auctioneer to apply for a license as a Public Automobile Auctioneer License. An application must be completed and submitted with the required fee to the Tennessee Auctioneer Commission along with proof of the following:
You must hold a Motor Vehicle Dealer License with the Tennessee Motor Vehicle Commission to apply for a license as a Public Automobile Auction and must have a business telephone in the auction company name (cellular telephones are not acceptable).
The following steps must be taken in order to obtain a Public Automobile Auction License:
1. Application [PDF]
a. Valid Motor Vehicle Dealer License from the Tennessee Motor Vehicle Commission
b. Submit Letter of Compliance from Zoning Authority
c. Proof of Garage Keepers Legal Liability Insurance in the amount of not less than Five Hundred Thousand Dollars ($500,000)
d. Surety Bond of fifty thousand dollars ($50,000) issued by a licensed bonding company
e. Financial statement prepared in accordance with GAAP by a certified public accountant or public accountant dated no earlier than twelve (12) months prior to the date of the application along with any changes to the statement (Must have a net worth of $100,000).
f. Business telephone in the auction company name (cellular telephones are not acceptable)
g. Local business tax license as required by local applicable law
3. Fee, $225
a. Application Fee: $50
b. License Fee: $175