Auction Listing Contract
This is an Auction Listing Contract, also known as a Personal Property Auction Agreement and is legally binding between the parties listed below.
This agreement made this ______ day of ________________, ______ by and between ________________________________(print) hereafter called Seller, (also known as the Consigner), with mailing address and contact details:___________________________________ ___________________________________
City: __________________________________ State: ________ Zip: ____________ Phone:_________________________
Email: ______________________________
And T.J. McKinney (a Principal Auctioneer Lic. #: 257043 in the state of Kentucky), aka SmartStuff2buy LLC dba West KY Auctions, hereafter called Auctioneer, (also known as the Consignee), with mailing address and contact details:
PO BOX 71
Sedalia, KY 42079
Phone: 502-682-7777
Email: WestKYAuctions@gmail.com
And ________________________, hereafter called Clerk, (a West KY Auctions subcontractor representative & witness to the contract signing), with contact details: Phone:_________________________
Email: ______________________________
It will take “approximately” 1 week for the Seller’s items (pictures, descriptions, etc.) to be uploaded to our website. The auction for the item(s) that the above Seller brought to us on the above date, will be listed for sale on our website at WestKYAuctions.com and the auction will start at or about _________ pm on ________________ _____, _______ (+/- 1 week) and will run for 30 days. Due to technical difficulties, the start time may be delayed but we will guarantee when it starts, it will go for 30 days (or longer if Seller agrees on the Consignment Agreement form). We will email the Seller upon auction launch. Each item from multiple sellers on our website will have different starting & ending dates/times.
This Auction Listing Contract’s main purpose is to legally bind and protect all parties listed in this agreement, to document the auction-listing process and secure storage of the Seller’s items, and to establish a “Right to sell” authorization for the Auctioneer to act on the behalf of the Seller for all items listed on the Consignment Contract. The Consignment Contract id number will be listed at the bottom of this contract to sync the two contracts.
Types of auctions we may do on our site:
Absolute Auction with no reserve, without Buy-it-now
Absolute Auction with no reserve, with Buy-it-now
Reserve Auction without Buy-it-now
Reserve Auction with Buy-it-now
The Seller can choose which is best for them when signing the Consignment Contract, the type will be clearly listed within the description of each individual item at WestKYAuctions.com
Authority to Enter Agreement:
This Auction Listing Contract is between the Seller and Auctioneer with the Clerk as a witness and representative for West KY Auctions. Sellers must be 18 years old or older and a Kentucky resident with a mental capacity to sign agreements and contracts with the actual legal power, right and authority to make this agreement.
The auction is to be held online-only at the website https://WestKYAuctions.com. Due to the nature of the way we accept, store, and list items for sale, and the time it takes for us to get the official Auction Listing Agreement, we can not put the exact start time on this agreement when your auction will start but should start within 1 week of dropping off your items. Note, each item we list in our auction will have its own start/end time/date. Multiple items from the same Seller will most likely start and end within 24 hours of each other depending on how many items we must list for sale. This auction will start after West KY Auctions has had a chance to upload all of the pictures and description to the auction site, and time for the Clerk to mail all documents to our home office in Sedalia, KY. Once the hard copy of the Auction Listing Contract has been verified for accuracy and filed at our office, and the auction listing draft has been uploaded, then we will publish this auction. We will email you when it is live. We will have several online auctions going at the same time with many start and ending dates (although most will end on the same day, the Friday before the 3rd Saturday of each month). We will consolidate the drop off and pick up times to convenience and will schedule pickup/drop off to be on the 3rd Saturday of each month, from 10am to 4pm. Once this online auction has launched, the auction will last for at least 4 weeks, and up to 8 weeks, so that the end of the auction falls on the Friday night before the 3rd Saturday of the month. which should generally be within 1 week of the day the seller drops off the item(s). Once the item has been published, the auction will run for AT LEAST 1 month.A “Clerk” is an employee or a subcontractor representative that will meet clients (buyers or sellers) “on-site” and act on West KY Auctions’s behalf. The Clerk will meet the buyers or sellers at our storage area (which we will call “on-site”) which may be a storage facility, a storage unit, house, building, or business partner that has storage space with an agreement to keep the items safely stored while we are in the process of listing the items for sale, while they are live, while we are waiting for the buyer to pay, or waiting for the seller or buyer to pick up the item(s).The clerk explains the Privacy Policy, Terms and Conditions, and the Auction Listing Contract to the Seller. The Clerk writes down detailed descriptions of the item(s) and notes any scratches, damages, safety concerns, colors, makes, models, or serial numbers. The Clerk will take at least 2-6 pictures of the item being left by the seller while the seller is here, or after the seller leaves. The Clerk will text or email the signed documents, the pictures of the item(s), the description of the item(s), and a picture or copy of the driver’s license or photo id of the Seller. The Clerk will safely store the item(s) in our storage area. Until further notice, the Clerk that meets buyers/sellers, accepts new items from sellers, has Sellers sign the Auction Listing Contract, disperses bought/won items, or dispersing items that didn’t sell back to sellers, will receive the $1 listing, $1 relisting, $1 reserve fee, and the $10 convenience fee (if any) from Sellers. The Clerk will also receive ¼ of the Auctioneer’s 20% commission fee (which would equal to 5% of the total selling price, if it sells), as part of the Clerk’s pay for representing West KY Auctions “on-site.”Buyers that buy instantly, or won with the highest bid, will contact a WestKYAuctions.com representative to make arrangements to pick-up the items they have paid for, or plan to pay for. Sellers wanting to bring items for WestKYAuctions.com to sell, or wanting to pick up items that didn’t sell, will contact a WestKYAuctions.com representative to make arrangements to meet the Clerk.
Fees:
There is a $1 listing fee per item, but if the seller has more than 1 identical item to list, it will be considered 1 lot (of items) and there will only be one $1 listing fee.
There is a $1 relisting fee per item if it does not sell the first month and the seller decides to relist it again. If the seller wants to relist it again, they can pay the $1 fee on our website at WestKYAuctions.com by adding “$1 relisting fee” to the shopping cart with a note during check-out of which item you want to relist (if they have more than one item). There is a $1 reserve fee if a seller wants to add a reserve price. A “Reserve Price” is the minimum that a seller is willing to sell the item for. We may start the bidding at $0.01 or $1 but no matter what the top bidder is, if a reserve price has been added, the item will not sell unless the reserve price has been met. The Reserve Fee will be refunded if the item sells during that specific auction but reserve fees for previous auctions will not be refunded.There is no Buyer’s Premium.There is no fee for a buyer/seller to create an account to buy/sell.There is a $1 cancellation fee if a Seller decides to cancel the auction before the official end date but once a bidder bids, it can not be canceled unless there is a website glitch, or an error in the listing that was made by West KY Auctions, or unless all parties mutually agree on the cancelation. Sellers must pay all listing, relisting, and reserve fees even if the item was canceled. There is a $10 convenience fee if a buyer/seller wants to meet on a different day/time than the once-per-month meeting day (3rd Saturday of each month).
The Auctioneer is responsible for any advertising costs but will not promise any specific amount of advertising will be done to promote this auction listing. There is a 20% commission fee on the total selling price (not counted on s&h fees, if any) and only if the item sells. This is for the work the Auctioneer and his representatives did promoting, advertising, receiving, listing, dispersing, and conducting said auction. Auctioneer agrees to pay the Seller the total, minus 20% commission, if their items sell by mailing a paper check and post-marking it no later than 30 days from date that the buyer pays for the item won. If there is a chargeback by the buyer, or non-payment by the buyer, then the sale is null and void and the item will be relisted without any fees to the seller. Non-payment by a bidder will result in the bidder being restricted from bidding on this relisted item. If it happens a 2nd time, the bidder will be permanently banned from buying/bidding on any auction on our website at WestKYAuctions.com or any in-person auctions we may do in the future. By default, the Clerk will only meet buyers/sellers on the 3rd Saturday of each month from 10am to 4pm (by appointment only!). If a buyer or seller needs to drop off or pick up an item, they will contact a West KY Auctions customer service rep at https://WestKYAuctions.com/contact/ or by email or phone, to arrange a meeting with the Clerk. We will coordinate with the local Clerk to see when the best time is, or have the Clerk call you directly for you both to agree on a time/date.Seller agrees to turn over and deliver to the Auctioneer or the Clerk acting on his behalf, all items to be sold at the public or online auction, the items listed on the “Consignment Contract” which is the sheet that lists every item that the seller has brought to the Clerk to be listed in the auction, along with reserve prices (if any), and descriptions about the item(s), etc.It is the Seller’s responsibility to verify the identity of the Clerk by contacting West KY Auctions by phone at 502-682-7777 and obtaining the phone number of the Clerk so that the Seller is not scammed by giving items to someone else by accident. Sellers can’t hold us liable for being scammed, theft, or damages.Relisting auctions if it does not sell:In the case of the item not selling, and the seller wants to relist the item with no changes to the pictures or description, then we reserve the right to use this same signed contract in all future listings of that same item with or without an updated signature. By signing this contract you hereby grant us rights to use this same contract with an unlimited amount of relisting for this particular item based on your original signed agreement on file. Note, a new contract must be signed if you bring additional items not listed in this agreement. You may email us at any time to cancel an auction listing
This Auction Listing Contract Template was last updated on Nov 18, 2022 at 11:18 pm CST by WestKYAuctions.com
Additional comments (not to be added after parties have signed): _________________________________________________________________________________________________________________ _________________________ ________________
Seller (print) Seller (signature) Date_________________________ _________________________ ________________
Seller 2 (co-owner if any) (print) Seller 2 (signature) Date_________________________ _________________________ ________________
Clerk (print) Clerk (signature) Date_________________________ _________________________ ________________
Auctioneer (print) Auctioneer (signature) Date
This Auction Listing Contract Template was last updated on Nov 18, 2022 at 11:18 pm CST by WestKYAuctions.com