Tennessee Auction License

If you’ve been wondering how to get a Tennessee Auction License, you found the right article! The process is relatively straightforward, and we’ll outline everything you need to do to have your permit.

But before we pass to the gist of our research, let’s quickly identify an auctioneer’s primary duties.  As a rule, auctioneers call for and receive bids on behalf of a seller. The latter could be an individual, a group of individuals, or a company.

Niche professionals are regulated by the Tennessee Auctioneer Commission (TAC). Its key responsibilities include issuing documents and ensuring that all the holders comply with the TC Annotated 62-19-101.

How to Obtain a Tennessee Auction License?

First and foremost, you’ll need to complete an application form. This can be obtained from the Department of Revenue. Once you have the form, you’ll need to submit it with a non-refundable application fee of $50. However, depending on the type, there are other fees:

• General – $175
• Apprentice – $125
• Principal Office Firm Permit – $125
• Gallery – $175
• Education and Recovery Account – $50

Note that each document is valid for two years starting from the issuance date. You should apply for the renewal within 60 days before the expiration date to receive a new one.

According to the TN Code 62-19-111 to become a verified professional, an individual needs to stay away from conducting any business across the state as an apprentice auctioneer or firm owner without being properly licensed.

Late Renewal

Depending on the delay periods, a person should pay the penalty to renew their permit. Let’s quickly go through three possible options and see what you’ll need to pay.

• $50 for 2 months or less after the due date
• $150 for 2 months or more but less than six months after the due date
• $200 for six months or more but less than two years

If yours is overdue for more than two years, you must apply for a new one.

Continuing Education Programs for Tennessee Auction License

You’ll need to participate in an approved education program to renew the certificate. Do this at least once every two years. The list of the currently accepted courses is available on the TAC website.

Generally, the training requirements are as follows:

• People attending continuing education training provide their names and their permit’s serial number.
• To get credits from the Commission, an individual should attend only those programs which are approved by the authoritative body.
• There are no credits for attending the same course more than once.

Once you’ve fulfilled all the requirements, you can renew your document and continue working in the state.

Reciprocity Program in Action

The reciprocity program is a great way to get your auction pass if you are already a specialist in another state. The process is quite simple, and it allows you to transfer your document with just a few simple steps. Actually, there are some states that currently have reciprocity with Tennessee. Some of those are Alabama, Florida, Illinois, Texas, New Hampshire, North Carolina, Massachusetts, etc.

You must have been licensed in good standing for at least a year and have taken and passed the courses to transfer yours. All the other requirements are standard, such as being at least 18 years of age and having no criminal record. If you currently own a permit in another state, you will find the process very smooth.

How to Hold Online Auctions?

With the ubiquity of the Internet, many companies have turned to virtual bids to sell their products and services. While online tradings can be a great way to generate revenue, they can also be tricky to manage. Here are a few tips on how to hold successful virtual bidding:

1. Choose the right platform: There are several different websites available, so it’s crucial to choose one that will be easy for all sides. Do some research and read reviews before making your selection.
2. Create clear guidelines: Before you launch yours, it’s essential to create a set of easy steps. This will help ensure that the process runs smoothly and everyone involved knows what to expect.
3. Promote the event: Ensure to promote it widely. Use social media, email marketing, and other channels to reach as many potential bidders as possible.

It’s always better to contact the nearest licensing office in case of any further information.