LUXURY CONSIGNMENT AGREEMENT
This Luxury Consignment Agreement ("Agreement") is entered into by and between the Consignor and the Consignee.
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Consignment Information
1. Items for Consignment
The Consignor agrees to consign to the Consignee certain luxury goods ("Items") for resale. A detailed inventory will be provided and signed by both parties upon receipt of items.
2.
Consignment Fee
The Consignee shall retain a 20% consignment fee from the final selling price of each item.
Note: Shipping and handling fees are not included in the consignment fee and may be charged separately to the buyer or deducted as necessary.
3.
Pricing and Adjustments
The initial sale price for each item shall be mutually agreed upon by both parties.The Consignee reserves the right to
reduce the price by up to 5% each week
to facilitate the sale, unless otherwise agreed in writing by both parties.4.
Consignment Period
The consignment period is
60 days from the Effective Date.During this time, the Consignee has exclusive rights to market and sell the Items.After 60 days, unsold items may be:Returned to the Consignor at their request (see Section 5), or Relisted at adjusted prices, with mutual agreement.
5.
Item Return
The Consignor may request the return of any unsold item
after the 60-day consignment period.
A $40 processing and return fee plus 20% of the item’s current listed price
will be charged per item returned.Requests for return
must be made in writing.
6.
Payment to Consignor
The Consignee will issue payment to the Consignor for sold items
within 25 business days
after the sale has been finalized and the return period (if applicable) has passed.Payment will reflect the final sale price minus the 20% consignment fee and any applicable costs (e.g., shipping, promotional fees).
Accepted payment methods
include:ZelleVenmoPayPalCash AppDirect Bank DepositIf the Consignor chooses to receive
store credit instead of cash
, an
additional 10% bonus
will be added to the payout amount.7.
Loss or Damage
The Consignee will take reasonable care of all consigned items. However, the Consignee is not liable for loss, theft, or damage due to unforeseen circumstances (e.g., fire, natural disaster, carrier mishandling).
8.
Authenticity
The Consignor affirms that all items are authentic and legally owned. Any item found to be counterfeit or misrepresented will be returned (at the Consignor’s expense), and this Agreement may be terminated immediately.
9.
Termination
Either party may terminate this Agreement with 10 days written notice. Upon termination:
Unsold items will be returned to the Consignor, subject to a
$40 processing fee plus 20% of the item’s current listed price
, per item.All costs associated with the return (including shipping) are the responsibility of the Consignor.10.
Entire Agreement
This document represents the entire agreement between the parties and supersedes all prior oral or written communications.