The Auctioneers Licence Act requires any person acting as an auctioneer be licensed and bonded. An Auctioneer’s Licence is issued to the individual acting as an auctioneer and is not issued to the company they work for. This Act exempts from its application persons auctioning Crown property, persons auctioning property being sold by a municipality or under the authority of a court, agricultural products sold in connection with an agricultural association, or goods being auctioned for religious or charitable purposes.
The Act provides authority for the suspension or cancellation of an auctioneer's licence in the case of misconduct. The Act also provides procedures for bond forfeiture to cover consumer loss.
Applicants wishing to obtain an auctioneer’s licence under the Auctioneers Licence Act must submit:
- A completed Application for Auctioneer’s Licence.
- A bond in the amount of $1,000. Bonds can be obtained from your insurance agent - Bond and must be issued in the name of the individual applying for the licence.
- The application fee per Regulation 85-133: Fees in the amount of $100, payable to the Financial and Consumer Services Commission.
An auctioneer’s licence is valid for a term of twelve months. Upon renewal applicants must submit the items listed above, with the exception of the bond. At renewal, applicants must submit a bond continuation certificate from their insurance agent.