Terms & Conditions
I. The Great Room will attempt to sell a consignment at the price that The Great Room decides, for thirty days. After this time, the sale price may be reduced by 10%; additional 10% reductions are authorized after each subsequent thirty-day period.
II. The consigned property shall at all times be subject to the direction and control of the Consignor. The property delivered under this agreement may be returned upon demand by the Consignor. The Great Room shall promptly return such property to the Consignor, and may also return any property not considered sale-able at any time. After 120 days from the date of consignment, any items that remain unsold may be picked up by the Consignor or donated to charity. Unsold items originally priced at less than $100 will automatically be donated if not called for prior to the pick up date (four months from the beginning date of consignment). The Great Room will attempt to contact the Consignor regarding donation of unsold items priced at $100 or more. However, it is the responsibility of the Consignor to notify The Great Room of any address or phone number changes.
III. The Great Room will make every effort in handling with care any and all consignments; however, all risks of fire, theft, or any damage to the property delivered under this agreement shall be retained by the Consignor, and the Consignor shall keep such property fully insured at the expense of the Consignor and for the benefit of and in the name of the Consignor.
IV. Great Room Payment Distribution: If your item or items sell between the 8th of month one and the 7th of the month two your check will be available for pickup on the 15th of month two. If your item or items sell after the 7th of the month your check will be available for pick up the following 15th of month 3. The Consignor’s check will not be released to anyone other than Consignor without written authorization. Only checks outside of the Lexington area will be mailed.
V. For services and facilities furnished in connection with the sale of property received under this agreement, the Consignor/Consignee split will be as follows:
- i. For all items that sell for more than $100.00, the Consignee (The Great Room) shall be entitled to 40% of the sell price, and the remaining 60% of the proceeds shall be the property of the Consignor.
- ii. For all items that sell for $100.00 or less, the Consignee shall be entitled to 50% of the sell price and the remaining 50% of the proceeds shall be property of the Consignor.
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