Addition to Auction Firm License

Addition to Auction Firm License Package

This application should be submitted for new principals, officers, directors, and new designated person(s) for a firm. If applicant is being added as a principal/officer/director only of a firm and he/she will not be doing business transactions as described below, no firm exam is required. 

Authority to transact business under a firm license is limited to the person or persons so designated on the application. Only designated person(s) for an auction firm have the authority to transact business under the firm license. This includes arranging, managing, soliciting, and contracting auctions; the supervision of the auction staff; the supervision of the acceptance of consignments of items for sale at auction; the supervision of the advertising of an auction; and the supervision of the acceptance of payment and disbursement of monies for items sold at auction. This authority is limited to the designated person(s) only. They are not required to be principals, officers and/or directors of the firm. See 21 NCAC 4B .0606. 

The designated person or persons are required to satisfactorily pass a written examination on the Auctioneer Law and Rules pursuant to N.C.G.S. 85B-4(g). The examination was designed to determine if the designated person has a working knowledge of the Auctioneer Laws and Rules. The examination involves a possible score of 100 points, with a required minimum score of 75 points to pass the examination. You are given one (1) hour to take the exam. However, certain exemptions apply.

Applicant - Non-auctioneer designated person. A firm exam is required. The Board office will contact you either by email (preferred method) or phone regarding scheduling and other exam information. The firm exam is on the North Carolina Auctioneer Laws, Rules and Regulations.

Applicant - Auctioneer designated person. A currently licensed North Carolina auctioneer who is the designated person is not required to take the auction firm examination.

Licensed real estate broker and real estate firm. A broker is exempt from the examination so long as they are in volved in the selling of real property only (no personal property) at auction, and provided that they employ or associate themselves with a licensed auctioneer (required Firm License) to handle those aspect's of the transaction peculiar to the auctioneer professions.