DOWNLOAD CONSIGNMENT CONTRACT
CONSIGNMENT CONTRACT
This Agreement entered into on the date written below between Pacific Galleries, LLC, a Washington Limited Liability Company (“Consignee”) and, the undersigned (“Consignor”). Consignor shall include by this reference the seller and owner of the property being consigned.
1. Consignment. Consignor hereby consigns to Consignee and, employs said Consignee to sell at auction, or otherwise, the personal property identified in the Property Receipt Schedule attached or, any continuation sheets thereto, subject to provisions set forth below and the standard Conditions of Sale printed in Consignee’s auction catalogs. This Agreement shall apply to all property now or hereafter received by Consignee from Consignor, until replaced by a new Contract of Consignment of later date. Consignor agrees that the provisions hereof apply to all property received on continuation Property Receipt Schedules issued by Consignee whether or not Consignor signs each continuation page.
2. Commission. For its services, Consignee will receive and retain from the proceeds of the sale of each consigned item or lot, as commission from Consignor:
35% of the final bid on lots selling for up to $500;
25% of the final bid on lots selling between $500.01 to $10,000;
10% of the final bid on lots selling for more than $10,000.
3. Sale Conditions. Consignee shall have complete discretion as to: (1) the place and date of the sale and the manner in which such sale is conducted; (2) the description of the property in its catalogs or other literature; (3) obtaining the view of any expert; and, (4) the combination, or division, of the property into several lots as may be deemed appropriate for sale.
4. Consignor’s Warranties. Consignor warrants that they have the right to consign the property for sale, and that the same is free and clear of liens, encumbrances, and claims and interests of third parties and, that good title will pass to the buyer. If Consignor is acting as an agent for an undisclosed principal, Consignor and principal, jointly and severally, assume all the obligation hereunder to the same extent as if the same Consignor were acting as principal. Consignor warrants that they are knowledgeable concerning Consignor’s descriptions of the property and that said descriptions are accurate. Consignor hereby holds Consignee harmless from any and all damages incurred by Consignee as a result of Consignor’s breach of these warranties.
5. INSURANCE OPTION: Damage or Loss of Property. Consignee shall exercise reasonable care as to Consignor’s Property. Consignee shall not be responsible for any damage or loss of the property while in transit to or from Consignee’s place of business or, while in Consignee’s possession. Consignor shall have the option to obtain insurance coverage through Consignee, covering the damage or loss of any item of property while in transit to or from Consignor’s place of business or, while in Consignee’s possession. The price for such optional insurance coverage shall be an amount equal to 3% of the item’s agreed value (as represented on the executed property Release Schedule), all such amounts to be paid directly from the proceeds of any sale or, prior to and as a condition of the return of the item to Consignor. It shall be a specific condition for any claim for damages or loss being processed by the Consignee that the price for such optional insurance coverage shall have been paid. All such optional insurance coverage shall cease upon the return of the item to Consignor or, leaving the possession of the Consignee.
6. No Representations. Any appraisal, estimate or other statement of Consignee or, its representatives, with respect to the value of any item is a statement of opinion only and, may not be relied upon as a prediction of the actual selling price. All lots are to be sold to the highest bidder, unless a written reserved price shall have been agreed by Consignee and Consignor and specifically set forth in the Property Receipt Schedule. Should a reserve price be agreed upon by both parties, a buyback fee of one hundred dollars ($100.00) will be assessed against the consignors account if the reserved price is not achieved.
7. Settlement of Account. Consignee will pay the Consignor the net proceeds received, and collected from, the sale of the property, less its commission, any expenses incurred for consignor’s account and any other amount due, unless the consignee shall have received notice of the buyer’s intention to rescind the sale, or any other claim, or shall for any reason have refunded such proceeds to the buyer. Payment for regular auction will be available for pick-up fourteen (14) days after Sunday auctions, and 28 days after specialty auctions. Payment not picked-up by following Monday, will be mailed on Tuesday.
Revised 6-25-2008
8. Hold Harmless. Consignee, as Consignor’s agent, is authorized to accept the return and rescind the sale of any property at any time if Consignee, in its best judgment, determines that the offering for sale of any property has subjected or may subject Consignee and/or Consignor to any liability, including any liability under warranty of authenticity. In such event, Consignee is further authorized to refund or credit to the buyer the purchase price of such returned property. If Consignee has already remitted to Consignor any proceeds of the rescinded sale, Consignor agrees to pay Consignee on request an amount equal to the remitted proceeds. Consignor further agrees to indemnify Consignee and hold it harmless from and against any and all claims, loss, liabilities and expenses (including reasonable attorney fees) relating to the claims of individuals claiming title to any property consigned hereunder or to any claims of buyers or persons claiming for buyers resulting from Consignee offering for sale or selling any property consigned hereunder, whether or not it has been returned to Consignee.
9. Withdrawal. No property may be withdrawn after receipt thereof without Consignee’s consent. In the event that Consignee consents to such a withdrawal, the property may be withdrawn upon payment of 20% of the fair market value thereof. Consignee reserves the right to withdraw any property at any time before the actual sale if in the judgment of the Consignee: (1) there is doubt as to its attribution or to its authenticity; (2) Consignor’s representations concerning it are inaccurate in any respect; (3) Consignor has breached, or is about to breach, any provision of this Agreement; or, (4) for other just cause. Consignee hereby formally declares its warehouseman’s lien and reserves the right to assert any and all rights thereto, pursuant to the provisions of RCW 62A.7-209 and 210.
10. Non-Payment by Buyer. In the event of non-payment by buyer, Consignee, at its discretion, may extend buyer’s payment time, cancel the sale and return the property to Consignor, or endeavor to enforce payment by the buyer.
11. Expenses. In the event, that in the judgment of the Consignee, the value of any property will be enhanced by cleaning, repairing, refreshing, touching up, or any other minor repairs, at no cost to the Consignor, the Consignor hereby authorizes Consignee to have the said work performed. No improvements will be charged to Consignor’s account without prior approval of Consignor.
12. Miscellaneous. All prior negotiations, representations, contracts or agreements between the parties hereto relating to the property, if any, are hereby merged into this Agreement and this Agreement is complete, entire and the only Agreement between Consignee and Consignor. No modifications, alterations, constructions, amendments or rescissions of or to this Consignment Agreement shall be effective or binding unless in writing and executed by a duly authorized officer of Consignee and Consignor. This Agreement shall be governed by, and construed in accordance with the laws of the State of Washington. Any notice given hereunder shall be in writing and sent to the address of Consignor. In the event any proceedings are instituted concerning a dispute between Consignor and Consignee in regard to this Agreement, the prevailing party shall be entitled to any and all costs, expenses and reasonable attorney’s fees.
13. LIMITED RELEASE: I hereby grant to the Consignee, its licensees, agents, successors and assigns, the right, but not the obligation, in perpetuity throughout the world and in all media, now or hereafter known, to use (in any manner it deems appropriate, and without limitation), by whatever means exhibited, advertised or exploited Consignor’s name and statements associated with the Property.
|
