CONSIGNMENT AGREEMENT - Dargate Auction Galleries

Dargate Auction Galleries, LLC
326 Munson Avenue
McKees Rocks, PA 15136; 412-771-8700
Fax 412-771-8779, Email: [email protected]
www.Dargate.com
CONSIGNMENT AGREEMENT
1. CONSIGNMENT: Consignor grants Dargate the exclusive right to sell his / her or its
property at public auction. Dargate will decide the auction at which the property will be auctioned.
Dargate may divide or combine the property into one or more separate lots. Dargate will incur no
liability for the postponement of any auction for any reason. Dargate is not responsible for items
left with the Auction Gallery that do not appear on the property receipt made out by a Dargate
employee. Any items left with Dargate that do not appear on a property receipt are to be removed
from the premises or the consignor will be charged storage fees, deductible from future sales
proceeds.
2. COMMISSIONS: Dargate will receive 15% of the hammer price for lots selling for $1000 or
more, and 25% for lots selling for $999 or less. In instances where a lot sells through ArtFact Live,
there will be an additional charge of 5% of the hammer price.
3. RESERVES (MINIMUMS): Reasonable reserves will be accepted on important property
only. It is understood that if Dargate sells below a reserve amount, the consignor will receive an
amount equivalent to that which would have been received had the item sold at the reserve
amount. Reserves are to be agreed upon before the property is picked up and cannot be raised
after the pickup. Consignor will be charged 5% of the reserve for lots not reaching their reserve for
an item(s) that are only offered at auction once. If a previously unsold item is relisted in a second
auction with a reserve, the second attempt will be subject to a 5% buyback fee should it not meet its
reserve and sell. (See paragraph 13 about alerting Dargate retrieving unsold items and/or relisting
items through a second sale).
4. ADDITIONAL CHARGES: Consignor will pay all packing, handling, and transportation
costs to Dargate’s premises, as well as restoration and cleaning costs and costs of third party
appraisals or expert advice to properly describe property or verify authenticity. Cleaning,
restoration, and appraisal costs in excess of $30 will be approved in advance by Consignor. All third
party costs will be increased 10% as a service charge for Dargate’s account.
5. INSURANCE: Damage to or loss of property will be insured by Dargate. Coverage begins
when Dargate takes possession. Minor damage to frames, glass, or nicks to furniture, or
atmospheric damage will not be insured by Dargate. Insurance coverage will be equal to the
amount of the agreed reserve, or low auction estimate if no reserve has been established. Please
note: Property is not insured for replacement value.
6. PHOTOGRAPHY: Dargate reserves the right to photograph any property.
7. PAYMENTS: Dargate will mail the sales proceeds to the consignor, net of all commissions and
costs, 30 business days after the auction close, together with a full accounting thereof.
CONSIGNOR CODE _________________________________
NAME ____________________________________________
ADDRESS _________________________________________
___________________________________________________
TELEPHONE _______________________________________
E-MAIL ADDRESS__________________________________
WEBSITE ADDRESS ________________________________
CK PAYABLE TO ___________________________________
AUCTION #
_____________________________________
HOW DID YOU HEAR OF US:
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