Louisiana Auction License

If you are going to trade as a dealer or auctioneer you will have to receive a Louisana Auction License. For this purpose, you need to learn your duties step by step. Thus continue reading this page and get information about dealer certificates and everything connected with them in this state.

How do I get my Louisiana auction license?

For obtaining a trader certificate, you are to pass through five steps. Those are enumerated below.

1. First, you need to obtain a surety bond and insurance. Unlike California which has a fixed $50.000 liability, your surety bond cost is based on your credit score, and the insurance is based on your driving record.
2. Secondly, you are to have a building. Alongside it, you should have a working landline telephone.
3. Third, you must go through the zoning verification, so that your building to be zoned for an automobile dealership.
4. After the state law requires you to attend a four-hour class. It is also available online.
5. For the last part, you are to complete your application without mistake. Alongside your application, include the following items:

• Salesperson application
• Surety bond
• Garage liability insurance
• Zoning verification form
• Sign picture
• Business phone
• Fees

Once you manage to do all these steps correctly, you will receive your auctioning permit in about 15 days.

Louisiana auction license requirements

A dealer diploma aims to let an individual sell his/her goods, in this case, vehicles, through bidding. Every person can obtain one, if he/she meets the basic requirements, passes an exam successfully, and pays the fees. The minimum requirements are as follows

• Be at least 18 years of age and older.
• Have US citizenship or be a legal resident.
• Attend a trade school and complete auctioneering courses.

Once you own a business, you should get an auctioning house permit. If other people run the same business with you simultaneously, they will also need to obtain the same trade house permit equally with you.

As an apprentice auctioneer, you are to work for two years under licensed auctioneer supervision and take part in a set of events to meet the basic requirements.

Besides the above-mentioned requirements you should have clean moral qualities, that is to say, you must not have done a felony crime. You are to show good character and be the best competitor. This aims to protect people from dishonest auctioneers.

If you are a trader and want to sell your cars to another dealer, you will need a wholesale certificate.

Fees and renewal

You are to pay for your permit in the amount of 1-3% of your required surety bond ($50.000) annually. To clarify, $500-$1500 per year.

After getting your certificate, you need to renew it annually. For this purpose, you will be mailed the details. You can manage the process both online and in person.

You can also transfer your already existing dealer certificate to Louisiana if you are considered to be an owner of at least 12 motor vehicles for 12 months.

To sum it up, if you are an owner of several automobiles and want to sell them through bidding, here the permit is mandatory. You are to obtain it for your wholesale trades.