Consignment Contract

 

1. All items consigned will go into auction within 30 days.  However some exceptions may apply.

2. Spokane Auction Center will receive a commission on all items sold.

3. Commission Rates are as follows:

  1. Flat 30% rate on all items unless noted below
  2. Gold: bullion or currency: 20%
  3. Automobiles/Titles: 15%
  4. Trading Cards, non gold currency: 15%

4. There is no charge if an item doesn’t sell.

5. Minimum commission on all sold items is $3.00 (currency and cards $1.00) if the item sells for $3.00 or less there will be no credit to the consignor. So it is a good practice to try and bring items that will sell for more than $5.00

6. Reserves: a minimum set bid price you would accept to sell an item. Please make sure it is the ABSOLUTE minimum you would accept for the item. Once the reserve is met, bidders will see the reserve is met to encourage more participation and bidding. *Please note that we charge a 15% reserve fee on the reserve price. This is to cover the minimum bid fee, per bid fee and the percentage fee we have to pay hibid/auction flex for running items. This fee is due even if the item doesn't sell because of reserve. 

7. Commission checks will be available 7 to 14 days after close of sale to allow for funds to clear the banks. You will be notified when the check is ready for pickup at our office. If you would rather the check be mailed please make sure we have a good address on file for you.

8. Unsold items can be either picked up within 5 days of auction close or not picked up and will become the sole property of Spokane Auction Center. Some exceptions will be made, call us.

9. Spokane Auction Center staff will review your items offered for consignment auction. Some items in poor condition or unsuitable for auction cannot be accepted.

10. Item description: We encourage you to write down a brief description of your individual items (you may know more about your item than us). Items with no description may be placed into multi-item lots and sold together at one price. Our staff will take your description, our research, and create a description for your item, start bids and any other information that will be posted on the website and auction.

11. You (consigner) are responsible for contacting Spokane Auction Center with any changes to your phone number, email and mailing address.

12.Unclaimed settlement checks are void after 90 days. The check will be voided and all funds become the property of Spokane Auction Center unless arrangements have been made prior to the expiration of the 90 days.

13. A valid government issued ID must be present to consigned items. Spokane Auction Center will take a copy for our records.

14. Removal of consigned items: Items may be removed from consignment at any time up until 7 days prior to auction going live for  no fee. From 7 days before up until 1 hour before auction going live (usually 5 pm pacific time). There will be a $3 minimum commission charged per item or 10% of predicted sale price for items valued at more than $100. All fees can be negotiated with Spokane Auction Center on a case by case basis. Consigned items may not be removed from 1 hour before the auction goes live. At this point consignors only remedy is to bid on the item. You will be charged for the item like any other buyer to include the buyer's premium and any other taxes and fees. 

By signing below you agree to all 14 items presented on this Consignment Terms and Conditions Document. This agreement is in place between the signed party and Spokane Auction Center (SAC LLC) for as long as the two parties continue to do business together, this contract is in effect.


 

Name: _____________________________________   Phone:_____________________

Address: _______________________________________________________________

E-mail_________________________________________________________________


 

CONSIGNOR  ________________________      _________________________    __________

    (print)       (sign)         (date)


 

SPOKANE AUCTION CENTER


 

________________________      ________________________     ________________

      (print-representative)                           (sign)                                          (date)


 

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