How do I obtain a public automobile auction license?

Vernon Greene -

You must have a Public Automobile Auctioneer designated for your Auction. To apply for a license as a Public Automobile Auction you must have a business telephone in the auction company name (cellular telephones are not acceptable) and a permanently installed professional business sign with letters which are at least eight (8) inches in height.
The following steps must be taken in order to obtain a Public Automobile Auction License:

  1. Complete and submit an application to the Tennessee Auctioneer Commission
  2. Submit the name and license number of a Public Automobile Auctioneer that will be designated for your Auction. They must sign the application being submitted.
  3. Submit Letter of Compliance from the zoning authority
  4. Submit proof of Garage Keepers Legal Liability Insurance in the amount of not less than $500,000.00
  5. Submit Surety Bond in the amount of $50,000.00 issued by a licensed bonding company
  6. Submit a compiled financial statement prepared by a CPA or a public accountant dated not earlier than 12 months prior to the date of application (must indicate a minimum net worth of at least $100,000.00.
  7. Submit proof of business tax license required by local applicable law.
  8. Submit payment of license fees to the Tennessee Auctioneer Commission.

Application fee: $50.00
License fee: $175
TOTAL: $225.00

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