MidlandAuctions by the SwapShop
AUCTION CONSIGNMENT CONTRACT
This document, along with the Consignment Order is a binding agreement between MidlandAuctions by the SwapShop.. (hereinafter referred to as “MidlandAuctions”) and the Consignor, or authorized agent of the Consignor, described below:
Consignor’s Legal Name:___________________________________
TERMS AND CONDITIONS
The Consignor appoints MidlandAuctions to act as selling agent of the Property listed in the Consignment Order by internet public auction on the website known as www.midlandauctions.ca. MidlandAuctions retains discretion as to;
1. consulting any expert
2. cataloging, lotting, listing and entering descriptions & photos
3. auction dates
4. the manner of conducting the sale
The Consignor may not bid on his/her Property nor employ or ask someone to bid on this Property during the auction. This is considered a SHILL bid and by signing this agreement you agree that if you are caught shill bidding you will loose your items and your items will either be re-listed, offered to other bidder or disposed of and you will not receive them back or any compensation for the items or sales of the items.
2. Representations and Warranties-Indemnity
The Consignor declares having the right to sell the Property, and warrants that the Property is now and will be kept free of all liens, claims and encumbrances through to transfer of title and possession to the purchaser. The Consignor agrees to indemnify MidlandAuctions from any and all claims, action, damages, losses, liabilities and expenses relating to the breach or alleged breach of any of the consignor’s agreements, representations or warranties.
If you bring the items into the store along with a easy to follow list of how you wish to lot the items and descriptions for the items MidlandAuctions will retain a commission of $4.00 or 30% for each lot sold (Whichever is greater) if you would prefer we lot your items the commission fee is 40% and if we pick up the auction items we take a 40% commission + cartage fees. There is no additional fee’s on mixed estate auctions however dedicated auctions where the consignor has 50% or more of the items in the same auction an advertising fee can be negotiated to boost the sale. For off site sales travel expense and cataloging time will be negotiated beforehand at a rate of $25.00 per hour per person and 40% commission.
Any suggested estimate range does not constitute a warranty, representation or guarantee of selling price. MidlandAuctions is not liable for any errors or omissions with respect to the auction, catalog or any other descriptions of the Property. If we feel your descriptions are misleading, false or not fully disclosing any imperfections or important info we have the full right to edit, adjust or remove the listing as we see fit. If we feel the item or lot may not have the potential to reach 20.00 in the auction we may merge the lot with other items to create a better lot.
The Consignor agrees that NO reserves are set by MidlandAuctions. and that all auctions start at $5.00 without any reserve. The only exception is when you consign legal canadian currency and we start that at face value. This includes coins, stamps and bullion with face dollar value.
The Consignor may not withdraw any Property from sale after MidlandAuctions has displayed, advertised or cataloged the items or invested any time in research and/or cataloging your items. MidlandAuctions may withdraw Property prior to the sale if MidlandAuctions believes that (a) there is doubt as to authenticity or attribution, (b) there is doubt as to representations or warranties or (c) any provision of this Contract is breached by the Consignor (d) if we feel the item is not at the quality or condition that we feel can attract adequate bids to reach our desired minimum lot sale of over 16.00. In the event that MidlandAuctions withdraws the Property in accordance with paragraph 6 the Consignor will not be charged a fee. All items withdrawn must ve picked up within 14 days or will be discarded at owners expense.
Buyers have 7 days after auction close to pay for the items won and we give them 3 days grace (total of 10 days). Consignor can pick up the proceeds collected received for sold Property, less selling commissions and reimbursable expenses from the auction after the 10th day past the auction close at our location or request a email money transfer be sent with your proceeds.
MidlandAuctions reserves the right to rescind the sale of any Property, in accordance with the published conditions of the sale, if;
- The Property is determined to be counterfeit (a forgery intended to deceive) or
- If any lot or item was not as described as working, new or excellent condition but was found not to be in this condition by the winning bidder within 24 hours of picking up the item (in this case the item will be returned and the consignor will owe the lost commissions on the sale)
In the event that the purchaser does not pay MidlandAuctions the rescinded property may relisted or offered to the runner up bidder or returned it to the consignor at our discretion (to help avoid any shill bidding). Unsold property not accepted by runner up bidder or relisted will be treated as unsold property (as per paragraph 9)
MidlandAuctions does not retain insurance on your property while in our possession. We suggest you contact your home insurance to ensure that they cover your property while outside of your home. You may require a rider on your insurance if you wish to have your items insured while in our possession. MidlandAuctions will not be held responsible for damage or theft of your property. Items will remain your property till a payment by the winning bidder is made on the item (not the close of the auction).
9. Treatment of Unsold Property
MidlandAuctions will store unsold Property after the auction for a maximum of 14 days (7 days after auction close); this Property shall be picked up or disposed of at the Consignor’s expense. Thereafter, items will become our property as abandoned goods and sold, disposed of or donated, consignor will be invoiced for any disposal fees.
This agreement shall be administered in accordance with the laws of the Province of Ontario and any dispute will be submitted to the exclusive jurisdiction of the provincial courts and the federal courts sitting in the Province of Ontario.
This agreement shall be binding upon the Consignor’s heirs, executors, beneficiaries, successors and assigns.
CONSIGNOR SOLEMNLY DECLARES:
1. The personal information I provided for the purposes of this contract is true and correct.
2. I am the owner/agent of the property listed in the Consignment Order to this my declaration.
3. The said Property is not subject to any mortgage, charge, lien or encumbrance.
4. I have listed the said Property with MidlandAuctions of the City of Midland, in the province of Ontario, and that this declaration is furnished to them pursuant to the provisions of the “Fair Trading Act, Public Auction Regulation”
5. I have read and agree to the terms and conditions outlined in this Contract.
6. I am legally allowed to sell these items
7. I will not bid or have anyone bid on my items.
I, (Consignor) make this solemn declaration conscientiously believing it to be true and knowing that it is of the same force and effect as if made under oath by virtue of the Canadian Evidence Act.
DECLARED in Simcoe County in the province of ONTARIO