HB 120 Summary

• Creates the Delaware Auction and Auctioneer Licensing Act requiring all auctioneers and auction firms to obtain licenses from a newly established Auctioneer's Licensing Commission.

• Establishes licensing requirements including age 18+, high school diploma/GED (or 8th grade for Amish auctioneers), 80 hours of approved coursework, 15 supervised auctions, and passage of written examination.

• Implements a Recovery Fund financed by licensee assessments (up to $300 yearly) to compensate consumers harmed by auctioneer violations, with maximum payout of $5,000 per claim or $50,000 lifetime per auctioneer.

• Sets disciplinary penalties including fines up to $10,000, probation, license suspension/revocation, and restitution for prohibited acts such as fraud, misrepresentation, unlicensed operation, and bid rigging.

• Provides exemptions for certain sales including owner-conducted sales, livestock auctions regulated federally, charitable organization fundraisers, government sales, court-ordered sales, and attorney services.