Public Automobile Auction

Tennessee Auctioneer Commission

A Public Automobile Auction is a person that offers motor vehicles for sale to the highest bidder, where buyers are members of the public, by a motor vehicle dealer licensed to sell used motor vehicles that holds a public auto auction license and uses the services of a public automobile auctioneer licensed by the commission; provided, that a public automobile auction does not otherwise limit the auctioning of used motor vehicles exclusively to licensed motor vehicle dealers or their duly authorized agents.

Requirements

Licensing Requirements

  1. Must have a Public Automobile Auctioneer designated for your auction.
  2. Must have a business telephone in the auction company name (cellular telephones are not acceptable).
  3. Must have a permanently installed professional business sign with letters that are at least eight (8) inches in height.
  4. Submit a Letter of Compliance from the zoning authority.
  5. Submit proof of Garage Keepers Legal Liability Insurance for not less than $500,000.
  6. Submit a Surety Bond for $50,000 issued by a licensed bonding company.
  7. Submit a compiled financial statement prepared by a CPA or a public accountant dated not earlier than 12 months before the date of application (must indicate a minimum net worth of at least $100,000).
  8. Submit proof of business tax license required by local applicable law.
  9. Hold a valid motor vehicle dealer license from the Tennessee Motor Vehicle Commission.

Education Requirements

None

Examination Requirements

None

Application & Fees

Fill out the Application for Public Automobile Auction License form. Mail the completed application and fees to the Commission.

Department of Commerce & Insurance
Tennessee Auctioneer Commission
500 James Robertson Pkwy
Nashville, TN 37243-1153

The fee for the application is $225.