Illinois Auction License

Like many other states, Illinois has requirements for those who would like to conduct auctions. To become an auctioneer in Illinois, you must have an Illinois auction license. The process of acquiring it is relatively simple, and the benefits of having one are numerous. Thus, today’s research will outline the steps necessary to obtain a permit and highlight some of the most commonly asked questions. Stay tuned for more!

How to Become an Auctioneer?

First things first, you need to be at least 18 years old to be an auctioneer. However, the age restriction may vary in specific circumstances and depending on the county. Once you qualify for the most basic requirements, ensure to get acquainted with the general and provincial auctioneering laws.

The Division of Professional Regulation imposes the following regulations:

The License Type

Only a single type is valid through the state – auctioneer license. A person applying for the certification may be either self-sponsored or sponsored by another auctioneer or a local firm.

Examination Proceedings

When applying for an Illinois auction license, a person has two options. The first will be calling AMP, i.e., Applied Measurement Professionals, via 800/345-6559. Another option is applying via the AMP official website.

The examination includes 50 questions from the Auction License Act and the Administrative Rule. Once an applicant passes an exam, they can get the official documentation proving they can work in the sphere.

Illinois Auction License Renewal

Note that the permit has an expiration date – you can use your permit for two years. Once the final date expires, you will be required to update it. Emails reminding you to renew it will come 60-90 days before the due day. Here are the main steps:

• Pay the fees
• Complete the renewal application
• Attach the payment receipt to the application
• Send the application to DFPR’s Springfield office before the due date arrives

State Professional Education

The Western College of Auctioneering is among the approved local schools. The applicants should pay $200 to obtain the document. However, there are extra fees you should take into account (we will furtherly go through the main options).

The reciprocity program applies to several states, including Alabama, Arizona, Florida, Indiana, Massachusetts, Ohio, etc.

Check Approved Continuing Education Courses to find the best course for yourself.

What Is Illinois State Auctioneers Association?

Founded by a group of successful people involved in business, the ISAA is a community of professionals working together for a greater purpose. For over 50 years, it has been a guiding hand for everyone who wants to make their contribution to the auction industry. There are numerous membership benefits, including:

• Free Membership during the first year after graduation from an authorized auction school
• Scholarship opportunities
• Access to a private Facebook group
• Networking with ISAA Members and industry leaders
• Participation in annual championships

Everyone interested in becoming a member of the associations is welcome to fill out a form on their official website.

Illinois Dealer Auto Auction Licensing

You can also apply for verification to work as a wholesaler, car dealer, and broker. Is this your first time going through such procedures? If yes, you’ll need to attend an eight-hour training held by the Illinois Secretary of State.

However, before sending your application, note to have proof of liability insurance. The liability insurance should cover at least $100,000 for bodily injury. Another $50,000 is a must for property damage.

Next is obtaining a free bond quote for the auto dealer license. Fill out the following online application. It may take up to 5 minutes to get the bond.

Last but not least. Submit your form and other docs to the Vehicle Services Department. You will need to wait for the final decision.

Fees

Fees involved include:

• Annual payments for the Certificate of Authority: $1,000 (For the first time, you should pay $500 between June 15 and December 31.)
• Annual payments for master plates: $45
• Duplicate plates: $13

Note: Local fees may vary.