LSL Mule Sales, LLC
dba Leavitt Ranch Sales & Auction
Consignment Auction Agreement
THIS AGREEMENT made this _______ day of _______________, 2015, by and between ___________________________________, hereinafter referred to as OWNER/CONSIGNOR and LSL Mule Sales, LLC dba Leavitt Ranch Sales & Auction hereinafter referred to as Auctioneer, and subject to the following terms: WHEREAS The Auctioneer is engaged in the business of selling personal property at auction and has its principal place of business in San Tan Valley, Arizona; and WHEREAS, the OWNER/CONSIGNOR desires to engage the services of the Auctioneer to sell at auction certain enumerated items of personal property on the terms and conditions provided in this Agreement.
IT IS THEREFORE AGREED:
COMPENSATION: The OWNER/CONSIGNOR agrees to pay the Auctioneer a commission as indicated in the attached Consignment Control Form. If the OWNER/CONSIGNOR elects to place a reserve price on an item and the items auction price does not reach the stated reserve price, the OWNER/CONSIGNOR agrees to pay the Auctioneer a 10% "no sale" fee based upon the highest bid at auction. A Withdrawal Fee of $40 will apply to any item the OWNER/CONSIGNOR elects to remove before the auction.
AGENCY: OWNER/CONSIGNOR hereby appoints Auctioneer, as it’s equal agent to conduct a public auction of personal property described on the attached Consignment Control Form. OWNER/CONSIGNOR authorizes and confers upon Auctioneer the power to take all actions for owner’s behalf necessary to complete this auction.
TERMS OF AUCTION: The items of personal property set forth on the Consignment Control Form shall be sold at public auction to the highest bidder, and the terms of the said auction shall be payable by the successful bidder on the conclusion of the bidding. Title passes on all items when the Auctioneer announces sold. All items shall remain in the possession of the Auctioneer until full payment is made. The OWNER/CONSIGNOR will not expect or demand payment if the winning bidder does not complete the sale and or the Auctioneer is unable to collect payment. The property will be sold in such lots as the Auctioneer may determine appropriate. In the event the OWNER/CONSIGNOR chooses to buy back his or her own items at the auction, the OWNER/CONSIGNOR agrees to pay Auctioneer the commission rate agreed upon in the Consignment Control Form.
WARRANTIES OF OWNER/SELLER: The OWNER/CONSIGNOR warrants that he or she is the sole owner of and has merchantable title to the items of personal property offered for sale under Arizona Auction Law and the Uniform Commercial Code hereunder and hereby grants to the Auctioneer the right to convey a merchantable title to such property to such buyers as may be successful at the auction. The OWNER/CONSIGNOR guarantees clear title, and that liens on the listed property be so stated whereby arrangements will be made so that clear title will be issued to the purchaser. In the event OWNER/CONSIGNOR is unable to clear title, OWNER/CONSIGNOR will be solely liable for any pre-sale expense incurred by the Auctioneer, and a Withdrawal Fee equal to the stated commission fee on the Consignment Control Form will be applied.
OWNER/CONSIGNOR SIGNATURE:_______________________________________
Print:_________________________________________________________________
Date:_________________________________________________________________
Address: _____________________________________________________________
Auction items on attached list. For more information contact Leavitt Ranch Sales & Auction @ 480-818-3145
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LSL Mule Sales, LLC
dba Leavitt Ranch Sales & Auction
Consignment Control Form
August 1, 2015 Sale
42516 N. Murphy Ave.
San Tan Valley, AZ 85140
OWNER/CONSIGNOR: _______________________________________________
Address: _______________________________________________________________
Phone #: ______________________________________________________________
Email Address: _______________________________________________________
Description
Quantity
Minimum Bid/Reserve (to be agreed upon with Leavitt Ranch Sales & Auction)
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TOTAL NUMBER OF ITEMS:
NOTES:
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LSL Mule Sales, LLC
dba Leavitt Ranch Sales & Auction
(Consignment Control Form continued)
OWNER/CONSIGNOR hereby consigns to LSL Mule Sales, LLC dba Leavitt Ranch Sales & Auction hereafter referred to as Auctioneer the above-mentioned item(s), which Auctioneer, as agent, will auction for sale through public auction on
__August 1, 2015__. Please initial: ________
For its services, Auctioneer will receive and retain from the proceeds of the sale as a commission from the OWNER/CONSIGNOR, 10% for items that sell for $500 or more, 15% for items that sell below $500 with a minimum commission fee of $5 to be applied to all items. Please initial ________
No property may be withdrawn from the auction without the consent of Auctioneer. Please initial ________
Auctioneer will pay the OWNER/CONSIGNOR the net proceeds received and collected from the sale of the property within 30 calendar days after receiving payment from the buyer, after deducting its commissions. Please initial _______
In the event of nonpayment by the buyer, Auctioneer in its sole discretion may cancel the sale and return the property to OWNER/CONSIGNOR. Auctioneer shall not under any circumstance be liable for any incidental consequential damages resulting to OWNER/CONSIGNOR as a result of a breach or failure by the buyer. Please initial __________
______________________________
Auctioneer
______________________________
OWNER/CONSIGNOR
______________________________
Date
______________________________
CONSIGNOR NUMBER:
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