Consignment Agreement

  • Auction Consignment Agreement Thank you for consigning to Willow Auction House. By signing this agreement, you authorize us to offer your property for sale under the following terms and subject to the Conditions of Sale in effect at the time of sale. 1. THE AUCTION. We will have absolute discretion in researching, cataloging, and grouping property for auction, the manner of conducting the sale, the marketing and promotion of the sale and determining the date and venue of auction.
    • 1. COMMISSIONS. We will deduct a sales commission on the Property per lot sold as follows:
      • ● 20% Flat

      You authorize us to charge the buyer of any portion of the Property a commission, known as the “Buyers Premium”. The Buyer’s Premium proceeds will be our sole property. The Conditions of Sale contain the Buyer’s Premium rates that will be charged with respect to the Property.

    • 2. SETTLEMENT. Within thirty-five (35) business days after the last session of each auction, we will mail you the proceeds received and collected by us from the sale of the property, less the seller's commission, the Buyer’s Premium, any buyer’s late charges and other expenses and amounts you owe to us under this agreement, and subject to rescission of sales as provided for in paragraph (10).
    • 3. EXPENSES. You agree to bear the expenses of and pay us for:
      • ● Our Assumption of risk of loss or damage in accordance with paragraph 5.
      • ● Packing and shipping in accordance with paragraph 6.
    • 4. RISK OF LOSS OR DAMAGE (Insurance). We bear the risk of loss or damage to the property while in Willow Auction House custody and control but for no longer than 60 days after the Auction and except for ordinary wear and tear to be expected when in possession of an auction house, or for damages caused by humidity or temperature changes, inherent conditions or defects, war acts of terrorism or other similar extraordinary events. We will not be liable for any amounts related to the loss or damage of the property that exceeds the Value of the Property nor will we be liable for damage to frames or glass covering art or other property. In consideration of our assumption of risk, the sum 2% of the Value of the Property each time the property is offered for auction is included in your commission rate. You agree that the “Value of the Property” for all purposes under this agreement, except paragraph 13, will be the mean of our presale estimates if the property has not been sold or if the property has been sold, the successful bid price(s).
    • 5. PACKING & SHIPPING. The Consignor is responsible for the cost of packing, insuring, and shipping property to Willow Auction House and return of unsold property. We are pleased to arrange for packing and shipping, subject to agreement. Should we pay the charges on your behalf and deduct the sale proceeds, a 20% service fee will be added to the total amount for packing and shipping expenses handled this way.
    • 6. RESERVES. Regarding lots more than $1,000 in value, each lot of your property will be sold with a “house reserve”, which is 50% of the low estimate. Lots below $1000 in value can be offered for sale with “no” reserve. We reserve the right in our sole discretion to alter this percentage upon notice to you. A reserve must be less than low auction estimate for a lot and conform to standard bidding increments. You also authorize us to sell a lot below the reserve price and pay the difference to you. If you choose to put a reserve on a lot more than the house reserve (50% of the low estimate) then you will pay a commission of the greater of $75 or 5% of the reserve for any property not reaching its reserve. THERE ARE NO RESERVES ON THE LOWER VALUE ITEMS IN OUR LOWER-LEVEL SALE.
    • 7. WARRANTIES. You warrant that you have the right to consign the property for sale that if you are an entity, you are in good standing under your jurisdiction of formation, that this agreement will not contravene any agreement, organizational documents, judgement, or order to which you are a party or by which you are bound, and that this agreement is enforceable against you in accordance with its terms. You also represent and warrant that the property is free of liens, claims, and encumbrances of others including but not limited to claims of governments or governmental agencies and will continue to be until the date of sale; that good title and right to possession will pass to the purchaser, that you have provided us with all provenance information that you have regarding the property, that you have no reason to believe the property is not authentic or is counterfeit, that, if applicable, the property has been lawfully imported into the United States and has been lawfully and permanently exported as required by the laws of any jurisdiction in which it was located and that there is no restrictions on our rights to reproduce photographs of it. If you are acting as agent for a principal, you and your principal jointly, and severally make all the warranties and assume all the obligations hereunder; you further agree to provide additional documents as and when we may request it, including corporate resolutions and opinion of your counsel in form and substance acceptable to us. You agree to indemnify and to hold us, our shareholders, directors, officers, employees, and agents harmless from and against all claims, actions, damages, losses (including our commissions and Buyers Premiums), liabilities, and expenses (including reasonable attorney’s fees) relating to the breach of any of your obligations, representation or warranties herein, particularly claims from any internet auction company we have contacted to auction your property. Your warranties and indemnity herein shall survive completion of the transaction contemplated by this agreement.
    • 8. WITHDRAWAL. Upon signing this agreement (or issuing a receipt to you for the property, whichever is earlier) you agree not to withdraw property you have consigned. We reserve the right to withdraw any property at any time before actual sale at the auction, regardless of any advertising or catalogue publication that may have occurred. If we do so because (a) we believe that there is doubt as to its authenticity or attribution, or (b) we believe, for whatever reason your representations of the property to be inaccurate, or (c) you have breached or, in our opinion are about to breach, any provision of this agreement, including if you withdraw property, then you agree to pay us and except in the case of a withdrawal under clause (a) above, a withdrawal fee is 50% (the “Withdrawal Fee”), all based on the mean of our pre-sale estimated prices of the property withdrawn. If you withdraw the property, you will pay us a Withdrawal Fee as well as any special, incidental, or consequential damages occurred by us, notwithstanding anything to the contrary in this agreement. Withdrawal Fees must be paid within 10 days of notice to you or from you of withdrawal.
    • 9. RESCISSION. You authorize us to rescind a sale of certain property under certain circumstances. Notwithstanding the Conditions of Sale: If the purchaser does not pay we reserve the right to cancel and rescind the sale; or if, in response to an original purchaser’s complaint made to us, we conclude that the condition, weight, size and description, title, origin, or provenance of a lot purchased was inaccurately and misleadingly set forth in our catalogue so as to have overstated its value substantially and thereby, in fact, to have misled him, we reserve the right to rescind the sale; or if we learn that property is inaccurately described in the catalogue to the extent previously described we reserve the right to rescind the sale; or if we at any time in our sole discretion determine that the offering for sale of any property has subjected us and/or you to any liability under a warranty of authenticity, whether written or oral, we are authorized to rescind the sale. If we determine that the property is subject to rescission, we will, or you agree to, through us as your agent, refund the purchase price to the purchaser or make an adjustment in the purchase price acceptable to the purchaser and refund the balance. If the reason(s) for rescission is inaccurate or misleading warrantees or authenticities provided by you, or we had reason to believe that the property would be subject to such rescission, you agree to pay us for all expenses incurred, including those described in this agreement as well as any other damages, expenses, or costs resulting from the rescission, including any special, incidental, or consequential damages incurred by us, notwithstanding anything to the contrary in this agreement, the seller’s commission, the Buyer’s Premium, and the Risk of Loss and Damage charge.
    • 10. NON-PAYMENT BY PURCHASER. We assume no responsibility for and are under no obligation to sue or otherwise to enforce payment by any purchaser pf property sold and still in our possession. In the event of nonpayment by the purchaser, we, in our discretion, may in our name or with your approval, your and our name, enforce all our rights against the purchaser or cancel the sale in which case this property becomes unsold and is subject to the terms in paragraph 14. In addition, in our sole discretion, we may return the Property to you. You authorize us to charge the purchaser late fees, the proceeds of which will be solely ours.
    • 11. PRIVATE SALES. You authorize us as your exclusive agent to sell your consigned items for you for a price that will result in a payment to you of not less than the net amount (after our commission, premiums and other agreed upon charges) to which you would have been entitled had the lot been sold at a price equal to the agreed reserve. In such event, your obligations to us hereunder with respect to such lots are the same as if they had been sold at auction.
    • 12. TREATMENT OF UNSOLD PROPERTY. Unsold Property includes items of your that may not have fetched sufficient bids in an auction or may have been WITHDRAWN (paragraph 9.), or the auction sale may have been RESCINDED (paragraph 10.) or you or we have decided not to sell. If your property is unsold in an auction and we agree to re-offer it on your behalf, we reserve the right to lower the original estimates; you will be informed of the revised pricing prior to the sale. If the revised low estimates are $1,000 or less, the items will be subject to the language in Paragraph 7 regarding reserves. We also reserve the right to transfer remaining items or those, at our sole discretion, to another auction house where they will be offered/sold under the same contractual and financial agreements as those set forth in this contract. If your property is not re-offered, is not sold through a third-party venue, because of a private sale (paragraph 12) or is not consigned to us for future auction/sale on mutually agreed-upon terms, or if we do not accept it for consignment for future sales, then you agree to remove it from our facilities within fourteen (14) days of our contacting you with this direction. You further agree to the following: If such property not to be sold by us, is not removed within fourteen (14) days then we may at your risk deliver the property to a warehouse of our choice for storage at your expense, or we may hold it for you at your risk and comparable expense. Such property that you do not remove from the warehouse or our facilities within sixty (60) days of our having contacted you, possibly by email, may be donated at our discretion to a charity of our choice or sold by us without reserve and at our normal commissions and fees. The proceeds from any such sale first be applied to the debt, commissions and fees owed us and the warehouse. Any excess funds will be remitted to you. However, if you do not respond to our attempt to contacting you then you agree that you have abandoned this property and you forfeit interest in the sale of this property. Further, you agree that for unsold property under this paragraph 13, the value of such property that has not been auctioned may be no greater than the mean of our presale estimates but no greater than the reserve or highest bid if the property has been auctioned and passed or brought-in for your account, and that we will not be liable for normal wear and chipping particularly to fragile items including mirrors, glassware, porcelains, and frames and glass covering art other items.
    • 13. ESTIMATES. Our pre-sale estimates are, at best, opinions of value. Pre-sale estimates are intended as guides for prospective bidders; we make no representation of the anticipated selling price of any property. Either written or verbally expressed, no pre-sale estimate may be relied upon by you as a prediction of actual selling price. Although due care is taken in determining pre-sale estimates and preparing catalogue descriptions of property, we will not be responsible for any errors or omissions therein and make no guarantees, representations, or warranties whatsoever to you with respect to the property or its estimated selling price. In addition, because of the volume and variety of items we deal with regularly, we may have limited expertise in an area, and it may not be feasible to retain an outside expert to confirm our research, catalogue descriptions or other assumptions in determining estimates. You agree that you will not hold us liable for such errors, including any claim by you that property subsequently was sold by the original or succeeding purchasers at a price substantially higher and/or with a description materially different from the hammer price at our auction. WE DO NOT GIVE ESTIMATES FOR THE LOWER VALUE ITEMS IN OUR LOWER-LEVEL SALES.
    • 14. COMMODITIES PRICING. Given the daily fluctuation in market prices for gold, silver, precious stones and objects de vertu, we reserve the right to revise your consigned item estimates when, as and if those prices change, in keeping with the most current rates.
    • 15. USE OF NAME. Unless you notify us to the contrary, you agree that we, at our discretion, may use your name, or your principals’ name as owner of the property in advertising and/or our auction catalogue. _____ Do not use name if checked
    • 16. APPLICABLE LAWS; VENUE; JURY TRIAL WAIVER. This agreement is governed by the laws of the State of New Jersey, without regard to the conflicts of law provisions thereof. You consent to the exclusive jurisdiction of the state and federal courts located in the state of New Jersey, regardless of where you may reside or have a place of business. You waive all rights you may have to a jury trial in connection with any dispute arising with us under this agreement or otherwise.
    • 17. MISCELLANEOUS. This agreement, including any exhibits or schedules attached hereto, the Conditions of Sale and property receipts constitute the entire agreement between the parties with respect to the subject matter of this agreement and supersede all prior or contemporaneous written, oral, or implied understandings, representations, warranties, and agreements of the parties related to such matters. If any provision of this agreement is deemed to be unenforceable by a court of competent jurisdiction, such provision(s) will cease to have any further force or effect, and the parties intend that the remainder of the agreement be enforceable and valid to the fullest extent possible.

    This agreement shall be binding upon heirs, executors, beneficiaries, successors, and assignees, and by signing below.

  • You acknowledge that you have carefully read and understand this agreement.

    As Per Section 16 of the agreement, Please check here if you do NOT want the name used in property advertising or auction catalog.

    Accepted and Agreed to by

  • Your Signature
  • Date Format: MM slash DD slash YYYY
  • To Be Completed by Consignor