Consignment Contract

Your consigner’s commission rate for each item is 4.9% after $2,500 AND 10% for the first $2,500 or less AND an additional $25/lot fee.
Owner agrees that he/she is Owner of record and Owner has good title and the legal right to sell the listed Equipment in Exhibit A. The Equipment is completely and accurately described as set out in Exhibit A. Owner is now the beneficial Owner of the Equipment with full right to sell said Equipment. Owner conveys and agrees the Equipment is free from all encumbrances and not subject to any claim by any person or to any registered or unregistered charges, liens or interests. The Equipment is not subject to the collection or attraction of any taxes, liens or claims of any authority of competent jurisdiction of any kind and nature, notwithstanding any past, present or future use to which the Equipment may have been, presently is or later may be put.

Auctioneer will be responsible to arrange, advertise and conduct a public auction sale of the Equipment at N295 Tree Lane, Merrill, WI on April 12&13, 2019. Auctioneer shall pay all costs and expenses of advertising, auctioning, clerking and cashiering incurred with the auction, unless otherwise specified. All decisions regarding the grouping, lotting and incrementing of bids are at the sole discretion of Auctioneer. Owner agrees that all Equipment listed herein will be sold at auction without reserve or minimum. The Equipment will be sold to the highest bidder and there will be no guarantee whatsoever by Auctioneer as to the gross proceeds to be realized from the sale of Equipment. The auction will be conducted in accordance to Auctioneer’s usual practices and procedures.

Owner agrees to deliver all Equipment (Exhibit A), at Owner’s expense, to the auction location at N295 Tree Lane, Merrill, WI along with all documents and titles no later than two weeks prior to auction date. If Auctioneer transports Equipment, Owner agrees that Auctioneer is not responsible for any damages or mechanical failures on that item. Transport costs will be deducted from the proceeds of the item. Owner shall make and/or pay for all repairs, improvements and/or fueling of the Equipment done in preparation for sale. Failure to deliver the Equipment will result in a breach of contract and Owner will compensate Auctioneer the commission based on the fair market value of the Equipment. Owner agrees to pay per the rates listed in at the top of this agreement.

Auctioneer will pay Owner within thirty days following the auction less any commission, fees or amounts necessary to obtain releases of any liens, claims, or other encumbrances on or against the Equipment including any money owed to Auctioneer. If the amount owed by Owner exceeds the proceeds, Owner shall pay the remaining amount within 7 business days of notification. In the event of a nonpaying buyer Owner will have the right to resell the item in a future auction under the same rates and terms or pickup the item without being charged the agreed upon commissions.

Auctioneer is an agent of the Owner and not a principal in the sale of the Equipment. Owner hereby nominates, constitutes and appoints Auctioneer its true and lawful representative for Owner and in Owner’s name and on Owner’s behalf to sign, execute and deliver all such documents required to transfer title to and permit registration of Ownership of the Equipment to and by purchaser in the event that such documents have not been delivered by Owner to Auctioneer as agreed in this contract. Once an item is consigned to Auctioneer the item shall not be removed from the auction without mutual consent from Owner and Auctioneer. In the event that an item is pulled and cannot be sold Owner agrees to pay sale Auctioneer commissions on that item and buyers fee up to 10%. Owner authorizes Auctioneer to use Equipment in setting up the auction. Owner herein authorizes Auctioneer to use Owner’s name, trademark or logo in advertising this Equipment for auction. Auctioneer has the right to bid on behalf of itself or others. Items may not have internet bidding available.

Owner agrees to indemnify and defend Auctioneer from any claims, actions, costs or charges against Auctioneer arising from or out of the Auction, which are in any way attributable to any acts or omissions on the part of the Seller. Owner assumes responsibility for any personal injury or property damage caused by Owner or his agents, and further agrees to hold Auctioneer harmless for any personal injury to himself or his agents, and any property damage incurred on the sale premises. All risk of loss or damage to the Equipment shall remain with Owner until the payment is received for the Equipment and monies are disbursed to Owner. Owner should maintain insurance against such loss and or damage.

In the instance of any dispute Wisconsin law will prevail in Lincoln County court. Receipt by Auctioneer via facsimile or email of a signed copy of this agreement, shall upon acceptance by Auctioneer, be considered binding. The foregoing Agreement represents the entire agreement between Auctioneer and Owner and is intended to replace and supersede all negotiations, appraisals, agreements written, oral, or electronic, entered into or made by or between Auctioneer and Owner and is binding upon their heirs, executors and assigns. Any changes to this Agreement must be made in writing and signed by both Auctioneer and Owner.
I solemnly declare that I am the Owner or Authorized Agent of the items listed in Exhibit A and that the information is true and accurate.
I (Owner) hereby commission you to sell the items listed in Exhibit A to the highest bidder by public auction. I certify that I am the owner of the listed items and have good title and the right to sell them. I agree to accept all responsibility for providing good
title and for delivery of title to the purchaser.
I have read and agree to this contract. I understand that any monies owed to the Auctioneer for purchases or any other
reason may be withheld from proceeds including commission charge for any “buy back”. Owner bound by these terms.

Location

N295 Tree Lane
Merrill, WI 54452

Call Us

(715) 443-5000

EMAIL US

info@integritysales.com