Minnesota Auction License

The institution that oversees and regulates the procedures concerning Minnesota Auction License is the Department of Public Safety. It is also known as DPS.

Types of Minnesota Auction License

Before applying, you are to define the type of certificate. This is important to know as they have different purposes. Correspondingly, you should choose one according to the activities that you are to develop.

Some of them are designed for permitting people to buy or sell, lease, or consign various classes of automobiles. Moreover, some of them are for selling used cars or new cars. Some are for trading wholesale or retail.

Some others are for selling used parts or for dealing with metal scarps or DSB. So, to sell even more than 5 automobiles during a year and to carry out activities like the ones mentioned before, you must have one of them.

For more detail, try to review the comparison sheet provided.

What Are The Requirements?

First of all, you need to provide thorough data on your business activities. Personal data is also required. Thus, you are to attach a bunch of paperwork.

These documents include those that list facts on company ownership and trader ownership history. The papers on location and property lease are named in the list.

The latter-mentioned includes also other records like zoning verification forms. You can get that from your local zoning office. Insurance of workers’ compensation and liability, as well as plate prices and franchise agreement, are the next.

NOTE: You are to present the franchise agreement only if you are a new dealer.

The commercial building where you are planning to run your business should have a display area. It must have enough space for a minimum of 5 automobiles. There should be space for a commercial office. However, wholesale workers and brokers do need it.

There should be a sign displayed properly which would be easily identified. For wholesale, there should be a record displaying the hours of operations as well.

Acquire The Surety Bond

This is one of the most important steps and criteria for acquiring your certificate. It is to ensure that you comply with the rules that the state has set. Fill out the application form for acquiring it.

After you complete this, you can pass to the next phase which is the application.

Fees and Expenses

The price that you should deliver for licensing is $250. This is the amount for all the sorts displayed above. Only the fee for DSB differs. The latter is $10. The administration fee is $100. You should deliver $12 per motor vehicle and $14.50 per duplicate plate.

As for the duplicate sticker, you are to pay $11 per each. The next is the surety bond. It has to be in the proper amount which is a minimum of about $5,000 or $50,000. It depends on your credit score. As for the renewal price, it costs $20.

NOTE: All the expenses indicated above, may be subject to an extra filling fee. If you want to learn precise details about costs, call the corresponding unit at 651-201-7800.

Minnesota Auction License Renewal

The document that the department issues, is valid for only one year. This is why you should renew it before the date expires. Actually, you have to do it by the 15th of the month before it becomes inactive.

In case you want to learn more about this aspect, you can visit the official web page of the Department of Public Safety. Go by the link and find what you want there.

Application for Minnesota Auction License

After you identify the sort of certificate and collect all the documents presented above, it is high time for you to fill out the application form. Deliver all the expenditures, and send the packet to the following address:

MIN Department of Public Safety
Driver and Vehicle Services
445 MIN Street
St. Paul, MN 55101-5186