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Ohio law provides that an auction is with reserve unless the terms and conditions of the auction expressly state that there is no reserve. That is, unless expressly stated otherwise, the auctioneer can withdraw the item being sold at any time up until the completion of the sale is announced.
Additionally, in order to become licensed in Ohio, an auctioneer must first attend an approved auction school before applying for an auctioneer license. The applicant must then take and pass a written examination prior to receiving a license.
In this method of auction, bidders compete for "the right to choose first" from a pool of similar properties. The high bidder may choose one, some or all of the "like properties" offered. If the high bidder chooses multiple properties, then the high bid is multiplied by the number of properties the high bidder chose.
HB 321 signed into law in June of 2022 and was effective September 13, 2022 defined online auctions and requires an auctioneer or auction firm license under Chapter 4707 of the Ohio Revised Code unless an individual meets an exemption found with in ORC 4707.02(B).
Our Online Process We can sell your items from your place or ours. We catalogue and photograph the items and place them on this site for the bidding process. We handle all communications with the buyers and collect proceeds which are then paid to you the seller (less commissions and applicable fees).
HB 321 signed into law in June of 2022 and was effective September 13, 2022 defined online auctions and requires an auctioneer or auction firm license under Chapter 4707 of the Ohio Revised Code unless an individual meets an exemption found with in ORC 4707.02(B).
HB 321 - Reducing Barriers for Ohio's Auctioneer Profession A new auctioneer law (HB 321) reduces barriers to entry for the auctioneer profession in the State of Ohio. This bill was signed by Governor DeWine on June 14, 2022 and will go into effect on September 13.