This is a sample contract only, used for consignment sales of property on the eBay® auction web site, other auction sites and any and ALL other local means to generate THE MOST MONEY FOR YOU!
CONTRACT EMPLOYING BROKER FOR INTERNET AUCTION
OR CONVENTIONAL SALES OF PROPERTY
This agreement dated MM/DD/YYYY is made By and Between Your Name Goes Here whose address is Your Address Goes Here, herein referred to as "Owner", AND CT Enterprises, whose address is 2170 South Ivanhoe Street, Denver, CO 80222-5704 herein referred to as "Broker".
1. Property: Owner is the owner of the following property:
A Description Of Your Property Goes Here
_____________________________________
_____________________________________
_____________________________________
2. Employment of Broker: Owner gives Broker the sole right to auction the above property to prospective buyers using internet auction sites, and any and all other means of selling your property.
3. Commission: Owner agrees to pay Broker a commission of A FLAT 25% FEE of the winning auction bid, or outright sale for management of the items listed above. All commissions are to be withheld by Broker from the winning bid/sale of the property auctioned or sold.
4. Auction Fees:
Insertion Fees: Starting or Reserve Price Insertion Fee
$0.01 - $0.99 • $0.30
$1.00 - $9.99 • $0.35
$10.00 - $24.99 • $0.60
$25.00 - $49.99 • $1.20
$50.00 - $199.99 • $2.40
$200.00 - $499.99 • $3.60
$500.00 or more $4.80
Reserve Fees: (fully refunded if item sells)
$0.01 - $49.99 • $1.00
$50.00 - $199.99 • $2.00
$200.00 and up 1% of Reserve Price (up to a maximum of $50)
Listing Upgrade Fees: First picture FREE A MUST For Every Auction!
Scheduled Listings At A Later Date • $0.10
Each Additional Picture • $0.15 Recommended
Gift Services • $0.25
10-Day Duration • $0.40
Gallery, Listing Designer & Subtitle • $0.65 Recommended
Bold • $1.00
Border • $3.00
Highlight • $5.00
Featured Plus! • $19.95
Gallery Featured • $19.95
List in 2 Categories* • X2 Of All Fees
*Double the insertion / listing upgrade fees when listing in 2 categories.
There are also Final Selling Fees.
Final Value Fees:
Item not sold • No Fee
$0.01 - $25.00 • 5.25% of the closing value
$25.00 - $1,000 • 5.25% of the initial $25.00 ($1.31),
plus 2.75% of the remaining closing value balance.
Over $1,000.00 • 5.25% of the initial $25.00 ($1.31),
plus 2.75% of the initial $25.00-$1000.00 ($26.81),
plus 1.50% of the remaining closing value balance.
If your item/s sell and are paid by credit card,
there are also PayPal® / Credit Card Fees.
CT Enterprises DOES NOT inflate these PayPal® Fees nor any other fees.
PayPal® Rate: 2.9% + $0.30 Per Transaction
There are 0 commissions for 0 sales.
5. Sole Agency: Owner agrees to refer all inquires from prospective buyers to Broker. Broker agrees to use his best efforts to auction/sell the property to prospective Internet/conventional buyers.
6. Internet Auction/Conventional Ads: Broker shall be entitled to advertise the auction of this property and take all necessary steps in accordance with this agreement.
7. Pictures: Broker will provide suitable pictures of the above stated property.
8. Shipping and Handling: Broker is responsible for the proper packaging and shipping of the above stated property upon the successful sale and clearance of payment for said property.
9. Liability of Property: Broker accepts liability for the property only after the property has been inspected by the Broker with the Owner present and a record of the property inspection is submitted in writing along with this auction agreement. Broker shall be released from said liability for any and all properties returned to Owner, if it is found, after more detailed inspection by Broker or agents thereof, that the property returned would be considered unsellable.
10. Term of Agreement: This agreement shall remain effective until terminated by either party in accordance with the Termination clause of this agreement.
11. Termination: Either party may terminate this contract on thirty (30) days notice. Such termination shall not limit Broker's right to auction fees or commissions resulting from pending actions. Broker will return any unsold property to Owner, at a time and place mutually agreed upon. Broker may retain posession of any properties until all pending auctions have been completed and all commissions and fees are determined and settled.
12. Possession of Property: Owner shall allow Broker to remove the property to be auctioned to a place of storage controlled by the Broker. Broker cannot be required to auction property not so removed, without written agreement that Owner will not give up possession of the property except to the Broker upon successful completion of the auction.
13. SELLER'S WARRANTIES AND INDEMNITY:
(a) Warranties. Consignor represents and warrants to CT Enterprises that: (1) Consignor has the right, power and authority to consign the property for sale and to enter into this Agreement and to perform all obligations hereunder; (2) the property is, and, until sold, shall remain free and clear of all liens, encumbrances or claims of third parties of any kind whatsoever; (3) good title will pass to the buyer upon sale; (4) there are no restrictions on CT Enterprises to reproduce photographs of the property; and (5) the information Consignor has provided to CT Enterprises in the Agreement is true and correct. Consignor acknowledges and agrees that CT Enterprises will rely upon the accuracy and completeness of the foregoing warranties.
(b) Indemnity. Consignor shall defend, indemnify, and hold harmless, CT Enterprises, its employees and agents, against any and all claims, actions, damages, losses, liabilities and expenses (including reasonable attorney's fees for counsel of our choice) arising out of or resulting from any and all claims raised by the buyer of the property, including but not limited to, ownership or right to possession of any of the property, any alleged breach by Consignor of any obligation, representation or warranty pursuant to this Agreement, or from CT Enterprises offering for sale or selling the property, whether or not it has been returned to Consignor. CT Enterprises shall retain full copy, reproduction and photographic rights to any pictures taken during any and all processes and transactions, even if the transaction is withdrawn, cancelled, substituted, or changed in any way. Consignor's warranties and indemnification shall survive the completion of the transactions contemplated by this Agreement, and shall apply to the property sold or consigned for sale pursuant to this Agreement.
14. WITHDRAWAL BY CONSIGNOR: Consignor shall not withdraw the property from the sale, for any reason, after this Agreement has been signed, without the signed consent of CT Enterprises. Consignor shall not sell or dispose of the property by any other means during the period of this Agreement. A breach of this paragraph shall be grounds for CT Enterprises to immediately terminate this agreement.
15. AUCTION COMPANY'S RIGHT TO WITHDRAW PROPERTY FROM SALE:
CT Enterprises shall have the right to withdraw the property at any time prior to the sale if, in its judgment, (1) there is doubt as to the information provided by Consignor, (2) the information provided by Consignor concerning the property is inaccurate, (3) Consignor has breached or it is anticipated it will breach any provision of this Agreement, or (4) CT Enterprises has doubt about title to the property or the authority to pass clear title to the property. Withdrawal of property pursuant to this paragraph shall be the basis for immediate termination of this Agreement.
16. MISCELLANEOUS: (a) This Agreement and any and all signed schedules or attachments hereto, including all information submitted by Consignor, and other document(s) executed by the parties concurrently herewith, along with the Conditions of Sale attached hereto, constitute the entire agreement between the parties with respect to the property and supersedes any and all prior negotiations or agreements regarding the property. The terms of the Special Instructions, if any, are incorporated into this Agreement. (b) Except as otherwise specified herein, no modifications or amendment of this Agreement shall be binding unless contained in a writing signed by the party to be bound thereby and no waiver, promise or representation by CT Enterprises or any of its agents or representatives shall bind CT Enterprises unless contained in a writing signed by CT Enterprises. (c) Any notice given hereunder must be by email, fax or in writing, which shall be deemed effective upon deposit in the U.S. mail, postage prepaid, if addressed to either of the parties at their respective addresses indicated below.
(d) If any part of this Agreement is deemed to be invalid or unenforceable, such invalidity or unenforceability shall not affect the remaining provisions of this Agreement, which shall remain in full force and effect. (e) Except as provided by law, nothing contained in this Agreement shall be construed as any agency, partnership or other joint enterprise between the parties. (f) For purposes of this agreement, faxed signatures shall be deemed original signatures. Electronic signatures or agreed upon alternative electronic confirmation of agreement to any issue, change or addition shall be binding as an original signature as provided by law. (g) The parties acknowledge that they have carefully read this Agreement, understand the contents thereof, and sign this Agreement as their own free act and deed. (h) This Agreement shall be interpreted and enforced pursuant to the laws of the State of Colorado.
Signatures: Both Broker and Owner agree to the above:
Definition of Terms:
Internet Auction Site is defined as any site operating on the Internet for the purpose of auctioning goods. This shall include, but not be limited to, consumer-to-consumer sites, business-to-consumer sites, and business-to-business sites.
Winning Bid is defined as any bid which, under the rules of the site on which the auction is running, is considered a final bid. If the site allows for reserve pricing, wherein any bid which does not meet reserve is not binding, then said bids are not considered Winning Bids, unless agreed to by Owner after the close of the auction.
Reserve Price is defined as the price at which the Owner reserves the right to not sell the property.
Auction Management is defined as the development, placement, and completion of an auction.
Development may consist of, but is not limited to, digitally imaging the
property, assembling the text description of the property, and/or assembling any pertinent hypertext links for the purposes of additionally describing the property.
Placement may consist of, but is not limited to, the actual posting of the
auction on the Internet Auction Site.
Completion may consist of, but is not limited to, the acceptance and clearance of payment from the winning bidder/s, packaging and shipping of the property or properties sold, and any other activities that an Internet Auction Site may associate with completing an auction.
Addendum:
Owner Packaging: Should the Owner make available packaging materials deemed acceptable by Broker, Broker may elect to return a portion of the shipping/handling fees charged to the Winning Bidder in exchange for those packaging materials. Use of Owner Packaging and compensation for said packaging is solely at the discretion of Broker, and Broker is in no way obligated to use said packaging, or to compensate the Owner for same.
Owner Shipping: Should the Owner make available shipping services, such as but not limited to UPS, Federal Express, or other courier or truck line, for the purposes of shipping property duly auctioned, Broker shall be responsible to compensate Owner for the invoiced value of that service, as listed on the invoice presented by the Carrier to the Owner for services rendered. Broker may alternately, with Owner consent, compensate Owner for the service as per the Carriers web site service calculator. If no calculator is available, this alternate method of compensation is not allowed.
We may also advertise auctions/sales via our private mailing list, in addition to a posting on our website. We have an email list of many buyers nationwide, who have been customers of ours since 1996. This would be done at no additional charge to the seller.
Cherry Picking: Owner retains the right to remove property or properties from this agreement at any time, but shall compensate Broker for services rendered in determining the status and/or usability of said properties. Compensation will be based on a billable rate of $75.00 per hour for services rendered, with a ½ hour minimum charge, and is to be paid to Broker before said properties are removed from Broker storage and returned to Owner.
Signatures: Both Broker and Owner agree to the Addendum above:
