As an agency of the Commonwealth of Kentucky, the primary purpose of the Kentucky Board of Auctioneers is to protect the public.
This is accomplished through examination, licensure, and regulation of auctioneers, apprentice auctioneers, limited livestock auctioneers and auction house operators.
This board is a self-supporting agency, funded by fees paid by Kentucky-licensed auctioneers and auction house operators. The KY Board of Auctioneers does not receive any general fund tax monies.
All licensees carry pocket cards when performing auctioneering tasks. The licensee's name, number and expiration date are printed on the pocket card. In addition, an auction house operator's license must be displayed conspicuously and at all times in the auction house.
Advertising for a specific auction must contain the name of the licensee and an indication that he/she is an auctioneer. Auction Houses must have the name of the licensed Auction House Operator and the name of the auction house on signs and advertising.
What is the difference between an absolute auction and an auction with reserve? What is a buyer's premium? These auction terms and other definitions are provided as additional information about auctioneering and auctions in Kentucky.