FREE 10+ Auction Consignment Agreement Samples in PDF

The consignment process allows non-profits to work with an outside company that specializes in unique items, trip packages, or experiences, and offer these auction items with no risk because the non-profit only pays for what sells. Event tickets, travel packages, sports memorabilia, art, and even vehicles are common consignment items (motorcycles, cars, etc). Before an auction item can be awarded to a bidder, the Nonprofit must usually meet a set reserve price. This ensures that the consignment company is compensated and that funds are raised to support the organization’s mission.

10+ Auction Consignment Agreement Samples

Consignment is defined as the act of delivering or consigning something. It can also refer to an agreement to pay a supplier or seller after a product is sold. In business jargon, this simply means that someone gives their item to a trusted third party to sell. In exchange for assisting you, the consignor, in selling the item, the third party, or consignee, receives a portion of the proceeds.

1. Auction Consignment Agreement

2. Company Auction Consignment Agreement

3. Seller Auction Consignment Agreement

4. Consignment Auction Agreement

5. Sample Auction Consignment Agreement

6. Auction Consignment Contract Agreement

7. Vehicle Auction Consignment Agreement

8. Auction Facility Consignment Agreement

9. Standard Auction Consignment Agreement

10. Internal Auction Consignment Agreement

11. Auction Equipment Consignment Agreement

Consigning an Auction

1. Contact a specialist with a list of items – In a consignment proposal, there are several types of information to include: Close-ups of important details are included in the photograph of the work, Artist/Author, Subject/Title, Date, Publication Location, Dimensions, Signatures, inscriptions, and edition numbers are all included, Descriptions of binding or mount, Condition, and Provenance & acquisition history.
2. Consult with the specialist – Consult the specialist about costs, reserves, and other fees. Throughout the consignment process, feel free to ask questions. Estimates are a value range based on auction prices for similar items, dealer prices, and the specialist’s current market knowledge. Estimates are published in the catalog, along with a description of the item, as a guide for potential buyers. A reserve price is a minimum price that has been agreed upon in advance. Our house reserve is half of the low estimate, but it can be increased in a private consultation with a specialist. The low estimate for reserves can never be exceeded. Excessive reserves and estimates tend to stifle bidding and work, which works against the consignor.
3. Review and sign the consignment agreement – The Consignment Agreement must be read, signed, and returned. Based on the type of material and our deadlines, your items are assigned to the most appropriate auction.
4. Pre-sale notification – Any auction that includes your property will send you a pre-sale notification, which will include the date and time of the auction.
5. Post-sale notification – A week after the auction, you will receive a post-sale notification with the hammer prices for your items. The day after the auction, we post all of our auction results on our website.
6. Payment

Sellers who consign their goods to an auction house participate in consignment auctions. The seller can be an individual or a corporation. The auction house then acts as a middleman, auctioning off the items on behalf of the seller. In exchange, the auction house receives a portion of the proceeds.

FAQs

If you want to see more samples and formats, check out some auction consignment agreement samples and templates provided in the article for your reference.