CONSIGNMENT TERMS HIGHLIGHTS 12/1/2012
Read our complete agreement at http://www.mens-exchange.com/Forms_files/page0001.html
Or request copy.
Men’s Exchange® consigns merchandise for a total of sixty (60) Days.
Merchandise may be reduced by 25% after each 30 days.
There is a 30 day Grace period to pick up items not sold.
Commission is paid if sold in grace period.
Expired items Left over 90 days are discounted for clearance
And are subject to disposal as abandoned.
Commission is set by item
Up to 70%
$2.00 tagging fee on all items sold
There is no charge to reclaim items after 60 days.
There is a $10 fee for items reclaimed before 60 days.
Consignments are processed in receiving room only.
Members must enter and price each item.
Front desk help is not allowed to leave building.
A Word About Auction Houses.
Auction should be a last resort for clearing out estates after any items of significant value have been removed.
Auctions houses typically charge up to 40% commission. They also charge and average of 13% to the buyers which suppresses their bidding price.
The important factor is total loss of control of the asking price.
Example, an item you would price at $50 may sell at auction to a high bid of only $10. Your payment becomes $6.
The same item at Men’s Exchange® would yield $24 and have time to be seen by a willing buyer.
That is a 400% increase in your potential commission.