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Consignment Terms and Conditions

 

Quality items are regularly accepted on consignment for any of our specialized antique, collectible or general merchandise auctions. Individual items, complete collections or estates are also purchased outright. Please contact the auctioneer for specific consignment rates and/or other conditions related to items you may have for sale.


When we have agreed to accept your merchandise on consignment, we will sell at auction on the following terms.

Your delivery of merchandise to us or our pickup of the merchandise will be deemed to be an acceptance of these terms. Preliminary verbal or written agreements made by us will be subject to change if the consignor alters the makeup of the consignment.

1.  Title

The consignor represents and warrants that he/she is the sole owner of the consigned property and that he/she has full legal right to sell or cause the consigned property to be sold; that the property is and will remain free of liens; and that the clear title and right to possess the property will pass to the buyer. The consignor indemnifies and holds Phoenix Auctions harmless from any claims, damages, and expenses arising out of any failure or breach of the consignor's representation and warranties.

2.  Reserve

Items may be reserved at a reasonable level beneath which the item will not be sold (unless with the consent of the consignor). The reserve figure set by the consignor does not include seller's commission payable to Phoenix Auctions unless otherwise agreed prior to sale date. The minimum acceptable reserve is $500. Reserved items which have passed shall incur a charge of 10% (ten percent) of the amount at which the item was reserved, or $50, whichever is greater, which reflects our cost of cataloging & handling. Unreserved items may be sold for 50% of the low estimate as appearing in the catalogue. All reserves are subject to approval by Phoenix Auctions.

3.  Consignor Bidding

Neither consignors nor their agents are allowed to bid on their own lots. Doing so may result in withdrawal of their lots from the auction. All reserves will be the responsibility of the auctioneer and/or his staff.

4.  Payment of Net Sales Proceeds

Title to any and all lots shall not pass to the buyer(s) until payment in full has been made by the buyer(s) to Phoenix Auctions. Proceeds payable to consignors for lots for which Phoenix Auctions has received payment in full will be paid within 35 days after the date of the sale. At its discretion, Phoenix Auctions may withhold from consignors payment for any consigned lots for which Phoenix Auctions has not itself been paid by the purchaser(s), and the consignor agrees to allow Phoenix Auctions the period of 60 days following the date of the sale in which to secure payment from the purchaser(s) for such lots. At its option, Phoenix Auctions may pursue reasonable legal remedy and/or collection procedures to secure payment, but Phoenix Auctions shall have the right, at its option, to either: a.) purchase the lots at the high bid, or b.) return the lots to the consignor without penalty within the 60 day period. There is a minimum commission fee of $2/lot or the assigned commission rate (whichever is greater). Due to administration costs no payment settlements of $20 or under will be issued and will be considered null & void by the consignor.

5.  Return of Unsold Merchandise

Unreserved lots which are passed or withdrawn will be returned to consignors with no fees due. All passed and withdrawn lots shall be returned to consignors within 2l days of the close of the auction, or at the discretion of the auctioneers re-consigned to future auction. Pickup of unsold lots is the responsibility of the consignor. Items proved unsalable due to environmental hazards and/or other undesirable conditions of the lot shall be the responsibility of the consignor for disposal, and if not removed within 48 hours of the sale may be disposed of by the auctioneers at cost to the consignor.

6.  Catalogue

a) Consignors will receive a copy of the text, lot numbers, reserves, etc. prior to the printing of the catalogue (if applicable), so that any necessary corrections may be made. Items returned by purchasers for reason of lack of clear title or lack of authenticity may be returned to the consignor at any time, and the consignor agrees to return to Phoenix Auctions the proceeds of the sale of that item, if payment to the consignor has already been made. Ted Myers Auctioneer representing Phoenix Auctions only shall make the determination as to item(s) authenticity.

b) Lots submitted for sale but deemed unacceptable and not catalogued will be promptly returned to consignors.

7.  Custody of Items; Commencement and Termination

a) Phoenix Auctions shall be deemed to have accepted custody of the items on consignment upon actual physical receipt and signed acceptance of the goods either at our business premises, the consignor's premises or at our Post Office box, as the case may be. Goods may be received only by an authorized agent of Phoenix Auctions. We will not be responsible for goods delivered uninsured, or left outside our premises, or delivered without a receipt signed by our authorized agent.

b) All goods must be accompanied by a detailed packing list clearly indicating all items included. Phoenix Auctions will not be responsible for goods shipped without a detailed packing list.

c) Our shipment of items, whether to a purchaser, or for return to the consignor, will be fully insured (if necessary). Our liability for items shipped by us will terminate as of our delivery of same to the carrier. Any claims for items which we have shipped must be made under the terms and conditions of the carriers (the Canada Postal Service, United Parcel Service, courier, etc.).

d) Lots consigned and cataloged for sale may not be withdrawn for any reason without our consent. We may elect, at our sole option, to release such material to the consignor upon payment by the consignor of $25.00 PER ITEM, plus any out-of-pocket expenses incurred by us.

8.  For purposes of valuation of claims or loss for any reason, consigned goods shall be valued at the level of "reserve" less 15%, or if there is no reserve, at 50% of the low estimated selling price.