Hereafter called “Consignor”, and LOUIS J. DIANNI, hereafter called “Auctioneer”.
1. The Consignor hereby employs the Auctioneer to sell at a public, live and simultaneously live on-line auction, the item(s) described on Page 3 (and additional addendum items, if any) of this agreement. The items are to be delivered by the Consignor either to the Auctioneer directly or by a mutually agreed upon place of convenience. The items are to be delivered in an appropriate wrapped, boxed or other protective container to the Auctioneer.
2. The Auctioneer will prepare the items to be sold in “lots” and will offer the items for inspection by perspective bidders. A “lot” is defined as any item or items sold together as one unit, usually indicated by a number in the on-line catalog offered on www.LouisJDianni.com. The consigned items are to be offered without limitation or reserve. The Auctioneer shall photograph and catalog the lots for Auction and shall in every way endeavor to sell the items for as high a price as may be obtained for them. However, no guarantee is made as to gross or net return to the Consignor, or the performance of any bidder.
3. The Consignor agrees to pay the Auctioneer for his services a commission of 15% of the final sale price of each lot.
4. The Consignor agrees that any unsold lot item is the responsibility of the Consignor to either pick up directly after sales/clerking finalized (approx. 45 days following the close of auction), or arrange and pay for packaging and shipping back to himself. Absolutely no un-sold consignments will be released to the Consignor at the auction, or until all clerking activity has been verified, approx. 45 days after the close of the auction. Do not consign items if, in the event they remain unsold, you need them in your possession any sooner than 45 days after auction close. After 45 days, unsold items must be removed from auction house possession by consignor. After 55 days from the close of an auction, unsold items must be removed, or storage fees of $5.00 per item, per day will be incurred. There will be NO EXCEPTIONS to this necessary course. In the case of an unsold lot item, commission is waived. The Consignor’s property will be insured under the Auctioneer’s policy and the terms of the policy shall apply to the Consignor.