What the West Virginia Apprentice Auctioneer Bond ($5,000) is for
The licensing agency usually requires this bond before it issues or renews the license. It protects the public if the business doesn't follow the law.
The bond amount is set by the agency, utility or fund that asks for it. If the bond holder doesn't meet their obligations, a valid claim is paid up to that amount, and the bond holder repays the surety.
What the price depends on
The surety's published rate. You see the final price before you pay.