The term “auctioneer” is someone paid to auction property for compensation. Examples of compensation can be cash, goods, services, etc. During an auction, bidders attempt to win items by placing the highest bid. Usually, the auctioneer is paid a percentage of the auction selling price by the property owner and may receive a buyer’s premium or surcharge from the winning bidder.
Before the auction, the auctioneer and owner must sign a written agreement stating the terms or conditions upon which the auctioneer or auction business will receive the property for sale and remit the sales proceeds to the owner. The auctioneer must also state the terms of bidding and the amount of the buyer’s premium or surcharge prior to the start of the auction. A person may not operate an auction or auction business without first obtaining a license from the Florida Department of Business and Professional Regulation.
In the State of Florida you need an auctioneer’s license to: conduct an auction to sell someone’s property for compensation, and if you advertise an auction of items for sale.
This information was obtained from The Florida Department of Business and Professional Regulation website.
Soreide Law Group represents Auctioneers before the Florida Board of Auctioneers. For more information about professional licensing law visit: www.floridaprofessionallicense.com or to speak to an attorney call (888) 760-6552.