[Back] General Consignment Terms

The final consignment contract is subject to the following general terms and conditions: Auctioneers agree to advertise the auction sale, and promote buyer attendance. Owner agrees to pay all consignment fees and/or other negotiated expenses in support of the advertising and promotional costs associated with the sale. Owner agrees to pay Auctioneers, for services rendered, a sum equivalent to (see fees & commissions) ____% of the gross receipts from all sales made under the terms of contract, whether such sales are made at public auction, by private sale, or in any other manner. Owner grants to Auctioneers a lien on said gross sale receipt proceeds to secure payment of said sum. Owner agrees under the terms of this contract that Owner will not sell, or cause to be sold, any part of the property listed above to any person, firm, or corporation except through the Auctioneers. If the Owner transacts one or more sales of said property, whether private or public, preceding the auction date, and up to 90 days after, Owner agrees to pay Auctioneers a commission in cash equal to the percentage of gross selling price as stated in article two (2). Owner agrees that each item of the above listed property will be delivered to the auction not less than ten (10) working days prior to the sale date (longer lead times may be required). Should Owner fail to deliver said property, or breach this contract in any other way, Owner agrees to pay the advertising and other costs as indicated above and the full auction commission rate based on the fair market value of the inventoried sale property. Owner warrants that Owner has title and the right to sell all inventoried sale property free and clear of encumbrances, and assumes responsibility for all representations made by Owner or the Auctioneers. During the sale, the Auctioneers shall be considered an agent of the Owner, and the Owner agrees to indemnify and hold the Auctioneers harmless from all liability, loss and expense, including reasonable attorney's fees, arising out of any claim by any person for breach of warranty or misrepresentation, whether or not such claim is valid. Owner hereby agrees that Owner, not the Auctioneers, is responsible for Owners property until the sale transfer of said property is completely transacted. Owner represents that no vehicle covered by this agreement has been "remanufactured" or "updated" to a subsequent model year by use of a kit or other method, unless specified herein. Owner agrees to indemnify and hold the Auctioneers harmless from all liabilities, loss and expense arising out of any claim for loss or damage to said property, personal injury or property damage related to the sale of said property, breach of warranty, misrepresentation, or defect in title. If documents showing title to motor vehicles, free and clear of all liens and encumbrances, are not delivered to Auctioneers at least seven (7) days prior to sale, Auctioneers shall have no responsibility for collection of drafts or checks in payment thereof, and Owner's responsibility for payment of expenses and commission shall not be diminished by reason of such failure to collect. Owner hereby agrees to sell the above inventoried property to the highest bidder, with no minimum, reservation, buy-backs, or persons bidding for Owner. This restriction shall be enforced for all inventoried items unless otherwise specified in writing on the face of this agreement (see selling at auction - reserve selling). Owner assigns Auctioneers and their attorneys proxy for the singular purpose of executing all instruments of every nature necessary or convenient to the performance of this agreement, and the transfer of title to the above inventoried property to the purchasers. Owner agrees to promptly furnish copies of all documents reflecting existing liens or security interests in said property, and authorizes Auctioneers to pay any such liens or security interests out of the sales proceeds remaining after payment of Auctioneer's expenses and commissions. If the proposed sale constitutes a "bulk transfer", Owner agrees to furnish to Auctioneers all necessary documentation for "bulk transfer" as required by law. All checks shall be made payable to Auctioneers, as Owner's agents. Auctioneers shall have full authority to reclaim and resell any items not paid for. Auctioneers reserve the right to eliminate from settlement any property for which payment has not been made. In consideration for the waiver of Auctioneer's commission on property for which payment has not been made, Owner agrees to accept responsibility for reclaiming said property wherever it is located. This agreement is not subject to cancellation without the written agreement of both parties. This agreement contains the entire agreement between the Owner and Auctioneers and shall be binding upon both parties, their successors, personal representatives, and assigns. No amendment or modification of this agreement will be effective unless in writing and signed by all parties involved. Warranties and representations herein made shall survive the closing of this transaction. Owner acknowledges that it is impossible to predict with certainty the prices which will be received for auction sale property. Auctioneers agree, unless delayed by legal proceedings or inability of Auctioneers, through no fault of their own, to transfer title or to comply with the Uniform Commercial Code or other laws, to make settlement with Owner on or before ten (10) banking days following the date of the auction sale. If any provisions of this agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired. This agreement will be governed by the laws of the state of Washington. [Top]