Consignment Terms and Conditions

• Right to Refusal: Kwik Auctions reserves the right to accept or refuse any articles sent in for sale at its discretion. Consignors acknowledge and agree to abide by Kwik Auctions' decision regarding the acceptance of consigned items.

• Repairs, Cleaning, and Disposition of Non-Working Items: Consignors understand and agree that any costs incurred for cleaning, disposal, or minor repairs will be deducted from the sale proceeds of the item. Additionally, items deemed of insufficient value due to condition or saleability to warrant lotting for sale are subject to disposal at Kwik Auctions' sole discretion.

• Grouping of Small Wares: Small wares may be grouped into saleable lots at the Auctioneer's discretion and itemized where possible. Consignors acknowledge and agree to this practice, understanding that it enhances the efficiency of the auction process.

• Withdrawal Prohibition: Consignors may not withdraw any property from sale without the express consent of Kwik Auctions. Consignors understand and agree to this condition, which ensures the integrity of the auction process.

• Commission and Buyer's Premium Authorization: Consignors authorize Kwik Auctions to withhold a commission based on the selling price of consigned items and to collect and retain the buyer's premium. Consignors understand and agree that the buyer's premium is above and over the selling price and is not considered in the consignment settlement.

• Title and Ownership Transfer: Upon the consignment items transfer to the physical custody of Kwik Auctions, consignors agree to transfer title and ownership of the items to Kwik Auctions for the purposes of sale through auction. Consignors acknowledge and agree that Kwik Auctions assumes possession and control of the consigned items until they are sold or returned at Kwik’s discretion.

• Risk of Loss Disclaimer: Consignors acknowledge and agree that goods are left at their own risk, and Kwik Auctions bears no responsibility for any damage, loss, destruction, or theft of consigned property.

• Insurance Waiver: Consignors acknowledge that they have elected to insure their property themselves by signing this agreement. Consignors release Kwik Auctions from any liability for loss or damage to their property, including but not limited to negligence.

• Bidder Restrictions: Owners or representatives of consigned items are strictly prohibited from placing bids on their own items during the auction. Consignors acknowledge and agree to adhere to this restriction to maintain the integrity of the auction process.

• Inquiries Protocol: Inquiries regarding consigned items cannot be entertained during the auction they are featured in. Consignors understand and agree to communicate inquiries during regular office hours or as directed by Kwik Auctions.

• Dispute Resolution: Any disputes arising out of or related to this consignment agreement shall be resolved through arbitration conducted in accordance with Canadian and British Columbian law. Consignors agree to abide by the arbitration process as the sole method of dispute resolution.

• Commission and Buyer's Premium: Kwik Auctions will withhold a commission based on the selling price of consigned items, as agreed upon in the consignment agreement. Consignors authorize Kwik Auctions to collect and retain the buyer's premium, which is in addition to the selling price and not included in the consignment settlement.

• Non-Payment by Purchaser: In the event Kwik Auctions is unable to collect payment for a consigned item, Kwik Auctions is not liable to pay out based on the illegitimate sale price. Kwik Auctions reserves the right to re-list the item for auction.

• Owner's Indemnification: Consignors promise to indemnify and hold harmless Kwik Auctions from all costs, claims, expenses, or liabilities arising from the sale of their property. Consignors acknowledge and agree to bear responsibility for any legal fees incurred as a result of such claims.

• Standard Consignment Terms and Conditions: It's important to note that if only a non-specific, casual agreement is made through email, over the phone, or in person, and no signed agreement detailing alternate conditions is provided by Kwik, our standard consignment terms and conditions apply. These terms govern the consignment process and outline the rights and responsibilities of both parties involved.

• Flexibility in Commission Rates: While we strive to maintain transparency and consistency in our commission rates, we reserve the right to modify the quoted rate under certain circumstances. If the equipment or items originally discussed are missing from the consignment, or if the condition is worse than discussed, or is otherwise misrepresented, Kwik reserves the right to adjust the commission rate accordingly.

• Settlement Terms: Settlement of accounts cannot occur in less than 10 days following an auction. Consignors understand and agree that Kwik Auctions must confirm payment and collection of all items on consignment before processing payment to the consignor. This process typically takes 10-15 days but may extend up to 60 days or more in rare cases.

• Severability: If any provision of this consignment agreement is found to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect, and the parties shall endeavor to replace the invalid provision with a valid one that best achieves the original intent of the agreement.