Restoration Marketplace, LLC
Virtual Consignment Agreement
SECTION I: AGREEMENT
This Virtual Consignment Agreement (the “Agreement”) states the terms and conditions that govern the contractual agreement between {Name (First):2.3} {Name (Last):2.6}, located at {Address (Street Address):8.1}, {Address (City):8.3}, {Address (State / Province):8.4} {Address (ZIP / Postal Code):8.5} (the “Consignor”) and Restoration Marketplace (the “Consignee”), who agree to be bound by this Agreement, on 06/06/2023.
WHEREAS, the “Consignor” owns right and title to the items described on Exhibit A, Virtual Consignment Inquiry Form, attached hereto (the “Consigned Items”), and the “Consignee” desires to aid, promote and advertise the sale of the “Consigned Items” with the intention of selling it to a third party.
NOW, THEREFORE, in consideration of the mutual covenants and promises made by the parties hereto, the “Consignor” and the “Consignee”(individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows:
RIGHT TO SELL. The “Consignor” hereby grants to the “Consignee” the exclusive right to display and sell the Consigned Items according to the terms and conditions of this “Agreement”. The following item(s) have been approved and agreed upon for sale via the “Agreement”:
Section II: PRICING
ASKING PRICE. The Asking Price is the price at which the Consignor seeks to receive. Take into consideration the original value, market for this type of item, and condition of the product. The “Consignee”, will determine the best “Listing Price,” but value your input on the potential top-dollar asking price for this item. “The Consignor’s” Asking Price is:
{Cosigned Item:13}
{Cosigned Item:22}
{Cosigned Item:23}
{Cosigned Item:24}
MINIMUM PRICE. The Minimum Price at which the “Consignee” may sell the above listed consigned Item(s) shall be the “Minimum Price”. In the event the “the Consignee” sells the Consigned Items for less than the Minimum Price, the “Consignor” shall be entitled to the same payment the “Consignor” would receive as its share of the sale price under this Agreement had the Consigned Items been sold for the Minimum Price. The minimum price for your item(s) is:
{Cosigned Item:14}
{Cosigned Item:25}
{Cosigned Item:26}
{Cosigned Item:27}
ONE TIME LISTING FEE. The “Consignor” is to pay an initial one time, non-refundable listing fee of $30.
CONSIGNMENT FEE. The “Consignee” shall be entitled to a percentage of the full purchase price of the Consigned Items (the “Consignment Fee”). The “Final Selling Price” is the amount of money paid for the Consigned Item(s) by a 3rd party buyer.
In the rare case that the “Consignor” sells the listed item(s) on their own, while under contract, Restoration Marketplace holds the right to collect the agreed shared payment of the full asking price.
The “Consignor” and the “Consignee” will split the payment in the following way:
- 65% (“Cosignor”)/35% (“Cosignee”) Split – The “Consignee” will travel to, stage and photograph the Consigned Item(s). The “Consignee” will list, describe, and advertise the Consigned Item(s). The “Consignee” will converse with potential buyers and close the sale.
LOCATION OF ITEMS. The “Consignor” agrees and acknowledges that the Consigned Items shall only be kept and stored at {Address (Street Address):8.1}, {Address (City):8.3}, {Address (State / Province):8.4} {Address (ZIP / Postal Code):8.5} unless otherwise agreed upon by the “Consignee” in writing.
Section III: CONCLUSION ITEMS
PICKUP/DELIVERY OPTIONS. The “Consignor” gives the “Consignee” permission to show the item(s) to potential buyers at the item(s) current location unless otherwise agreed upon. The “Consignor” also gives the “Consignee” permission to either meet buyers at the item(s) current location or pick up the item(s) for delivery to the buyers at the conclusion of the sale.
TIMEFRAME. In the event that all the Consigned Items are not sold within 120 days from the signing of this agreement, the “Consignee” or “Consignor” may contact the one another via email, text or phone call to cancel the agreement. If the “Consignor” or “Consignee” does not say otherwise, the agreement will continue as it stands.
CONSIGNOR REPRESENTATION. The “Consignor” hereby represents and warrants that the “Consignor” holds full title (or has received, in writing, the authorization to sell the Consigned Items by any necessary parties) to the Consigned Items.
NO MODIFICATION UNLESS IN WRITING. No modification of this Agreement shall be valid unless in writing and agreed upon by both Parties.
APPLICABLE LAW. This Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the State of Florida and subject to the exclusive jurisdiction of the federal and state courts located in Palm Beach County, Florida.
IN WITNESS WHEREOF, each of the “Parties” has executed this Contract, both “Parties” by its duly authorized officer, as of the day and year set forth below.
I, {Name (First):2.3} {Name (Last):2.6}, on this day {Date:4} agree with all terms of this agreement.