Terms & Conditions
PDF available here: Buy-Now Marketplace Seller Terms
This Buy-Now Marketplace consignment agreement, which includes Parts A and B, and the Buy-Now Marketplace Conditions of Business for Sellers, available online at http://www.sothebys.com/en/marketplacesellerterms, confirms the terms of our agreement with you to offer the Property listed on the Property Schedule for sale on the Sotheby’s website. You agree that the Buy-Now Marketplace Conditions of Business for Sellers is incorporated herein by reference and is an integral part of this agreement. References to numbered Conditions are to the Buy-Now Marketplace Conditions of Business for Sellers. Condition 1 contains the definitions of capitalized terms not defined in this Part A.
1. Buy-Now Marketplace
After your execution of this agreement, we will send you an initial Property Schedule, which constitutes Part B of this agreement. If you and we do not agree on the Property Schedule, including the item(s) of Property and information listed therein, within 30 days following the date you sign this agreement, this agreement shall become null and void and of no further force and effect. Upon your written confirmation (which may be provided via email) of the Property Schedule, we shall offer the Property for sale on the Sotheby’s Buy-Now Marketplace for the Listing Period, subject to the terms of this agreement. In connection with a sale of the Property, you agree that the Buy-Now Marketplace Conditions of Business for Buyers, which are available online at http://www.sothebys.com/en/marketplacebuyerterms are our and your entire agreement with the Buyer.
2. Consignment Liaison Services
Following execution of this agreement, we will schedule an appointment with you to facilitate intake of the Property for listing, including photography, measurement, documentation, and proposed pricing of the Property. Sotheby’s will be responsible for photographing the Property, writing the Property description (including identification and condition report) and recommending the Listing Price.
3. Listing Price And Reserve
The initial Listing Price and the Reserve for the Property are set out in the Property Schedule. For up to one year after the date of last signature on this agreement, you and we may agree on additional Property Schedules, each of which are governed by the terms of this agreement.
4. Seller’s Commission
We will charge you a Seller’s Commission equal to 50% of the Purchase Price for the Property, except if otherwise noted on the Property Schedule. If you are a trade client, or if you are consigning 20 or more items, please contact us before signing this agreement.
5. Sale Costs
We will not charge you for any Sale Costs unless you and we mutually agree in writing in advance. This section entitled “SALE COSTS” shall constitute the “Sale Costs Schedule in Part B”, as referenced in the Buy-Now Marketplace Conditions of Business for Sellers.
We will list the Property with a limited right of return, in which a Buyer will have two days from the date the Buyer or the Buyer’s agent acquires physical possession of the Property in which the Buyer may return the Property for any reason. If the Buyer elects to return the Property, we will cancel the sale and credit the Buyer with the Purchase Price, the Property will be returned to you, and you will not be entitled to any payment with respect to such Property.
For Property for which we receive payment of the Purchase Price in cleared funds, we shall pay you the “Net Sale Proceeds,” which will be the amount remaining from the Purchase Price after deducting the Seller’s Commission and Sale Costs payable by you (if any). We will pay you the Net Sale Proceeds in U.S. Dollars (unless otherwise agreed with you in writing) by 30 days after the Buyer or the Buyer’s agent acquires physical possession of the Property, except where we are on notice of cancellation as set forth in Condition 13, if applicable, or on notice of an issue upon which we may rescind the sale pursuant to Condition 14. If any payment date falls on a Saturday, Sunday or public holiday, you will be paid on the next business day.
8. Consumer Cancellation Right
With regard to the Consumer Cancellation Right as set out in Condition 13, you represent and warrant to us and the Buyer that you are not a Trader for the purposes of the Consumer Cancellation Right. Your indemnity as set out in Condition 5 will apply in connection with this representation and warranty.] If you are a Trader for purposes of the Consumer Cancellation Right, please contact us before signing this agreement.
In addition to the foregoing, you agree to the Buy-Now Marketplace Conditions of Business for Sellers, available online at http://www.sothebys.com/en/marketplacesellerterms, as amended by Part A or B of this agreement (in the event of a conflict between Part A and the Buy-Now Marketplace Conditions of Business for Sellers, this Part A will prevail). You acknowledge that Sotheby’s may revise the Buy-Now Marketplace Conditions of Business for Sellers and the Buy-Now Marketplace Conditions of Business for Buyers from time-to-time. By signing below, you confirm you have read and accept, and agree to the sale of the Property in accordance with, the terms of this agreement and with the Buy-Now Marketplace Conditions of Business for Buyers.