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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.
Ohio Code 4707.02 requires all auctioneers and auction firms operating in the state to obtain a license from the Department of Agriculture. The state legislature enacted the licensing laws and regulations to ensure that auctioneers engage in ethical business practices.
Once a bid is accepted, the seller has no right to accept a higher bid, nor can a buyer withdraw the buyer's bid[ii]. Generally, an auction is complete when the bid is accepted. A binding contract is created by the auction. The seller can also set a reserve price in advance.
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.
Yes, you will need to be licensed either as an auctioneer or auction firm. What can an auction firm do?
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).
Who regulates the auctioneer license or auction firm license? The Ohio Department of Agriculture Auctioneer Program enforces licensing requirements for auctioneers and auction firms in the state.