How do I obtain a public automobile auction license?

Vernon Greene -

Requirements for obtaining a public automobile auction license: Owner must be licensed in Tennessee as a public automobile auctioneer or must have a Tennessee public automobile auctioneer as principal. Application must be completed and submitted to the Tennessee Auctioneer Commission along with proof of the following and total license fee:

  1. Letter of compliance with local ordinances from the local zoning authority
  2. Garagekeeper's legal liability insurance in the amount not less than five hundred thousand dollars ($500,000)
  3. Surety Bond of fifty thousand dollars ($50,000) issued by a licensed bonding company
  4. Financial statement prepared in accordance with generally accepted accounting principles by a certified public accountant or public accountant dated not earlier than twelve (12) months prior to the date of the application along with any changes to the statement. (Must have a minimum net worth of $100,000)
  5. Business telephone in the auction company name (cellular telephones are not acceptable).
  6. Local business tax license as required by local applicable law
  7. Valid motor vehicle dealer license from the Tennessee Motor Vehicle Commission.

Application fee: $50 License fee: $175 TOTAL: $225

Contact an agent. Submit a request