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Consignment Terms & Conditions
From time to time, Rics Vintage Guitars (“RVG”) agree to consign goods for the purpose of sale on behalf of the original owners of those goods. These terms and conditions are designed to make it a fair process for both parties.
- All goods are owned by the original owner (“the client”) NOT by RVG.
- As RVG does not own the goods it cannot take out insurance, therefore The original owner (“the client”) is responsible for insuring the goods for an agreed value and presenting to RVG a valid certificate of insurance. The client should ensure that the insurance policy covers such things as transportation and the ability to house the goods at an alternative address to their own.
- The Client will nominate an agreed price (“client price”) that they wish to consign the goods for. This is the price paid to the client upon a successful sale.
- RVG will assign an agreed commission AND 10% Goods and Services Tax (GST) on the client price and will list the goods at a GST inclusive price. If, in its opinion (and after presenting evidence to the client, based on similar goods for sale) RVG believes that the GST inclusive price is either too low or excessive it has the ability to negotiate with the client on the client price.
- The client will consign the goods exclusively to RVG for an agreed period of time (usually 90 days) and will not attempt to sell the item by any other means during that time. All enquiries regarding the sale of the item must be directed to RVG. If the client sells the goods by any other means during the term of the agreement RVG is entitled to its original agreed commission. Any extension to that agreement will be agreed in writing.
- RVG will list the goods on its web-site as “consignment” goods and will sell for the agreed price or present all offers to the client, maintaining its commission rate and the GST rate.
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