Agreement
At the time of signing this contract I have entered into an agreement to deliver and consign my vehicle with Richfield Auctions for the reserve price stated in the Vehicle Consignment Registration document. The Reserve Price is an expected selling price that is inclusive of the auction commission. The Auction Company reserves the right to lower the commission to sell the car with the seller’s net figure being unchanged. The seller may verbally agree to lower the reserve price during the auction process. A reserved vehicle whose reserve is lifted on the block will still be subject to the 8% commission fee paid to Richfield Auctions. Should the vehicle be checked into the auction and is withdrawn or does not cross the auction block to be offered for sale, I agree to pay the 8% sale commission in full plus the buyer’s fee on the stated reserve price unless specific written authorization is obtained from Richfield Auctions waiving said fees.
Fees and Reserve Policy
Entry fees are non-refundable and do not apply to commission. Vehicles consigned as “With Reserve” means the owner may place a minimum protective price on the vehicle. Vehicles consigned as “No Reserve” means that the vehicle will sell to the highest bidder regardless of price. Any vehicle consigned as “No Reserve” must be offered as No Reserve prior to any bids being taken. Owners may not bid on their own vehicles.
Reserve Price and Fees are as agreed for the respective vehicle in the Richfield Consignment Registration form.
Transactions and Payments
Richfield Auctions completes transactions and releases vehicles based on the buyer’s / bidder’s contract and terms. After verification of funds, vehicles will be released to new owners. Once the vehicle is released, the Net sale proceeds will paid to the seller. Once auction reconciliation is complete, payment will be issued to the Consignor named in the Vehicle Consignment Registration document within 20 banking days from the date of sale.
Right to Offer, Consign, or SellThe Consignor named in the Vehicle Consignment Registration document represents and warrants that they have the right to consign and sell the said vehicle and that its title/registration documents are in order and match the vehicle. Furthermore, the Consignor states that the said vehicle is free and clear of all liens and encumbrances to all or any financial institution or individual agent.
Duty to Accuracy in Vehicle History and DescriptionThe Consignor warrants the vehicle to be accurately described to the best of their knowledge including items working poorly or non-functional, its history, description, condition, or mileage. Richfield Auctions and/or any agents or companies related to the auction are in no way liable for the vehicle description or accuracy therein. Any discrepancies following the sale will be between the buyer and seller.Vehicle Check InVehicle check-in information, dates, locations, and process will be emailed to the Consignor with lot confirmation. Please follow the directions in your Pre-Auction package and contact the Richfield Concierge should questions or issues arise. Registration documents of the Consigned Vehicle shall be surrendered to the Auction staff upon completion of check in.Vehicle Check OutConsigned vehicles cannot be checked out until the last vehicle crosses the block for the day. Richfield Auctions will NOT check out any vehicles prior to the conclusion of the sale. Check out clearance forms will be issued at the end of the auction and acquired by visiting the auction office.Vehicles must be removed by noon on the Monday following the auction.Consignment Changes and PostingsRichfield Auctions cannot guarantee that any changes made to postings after 12pm Mountain Time on the Friday preceding the auction will appear on the Online Bidding Site/Service. Internet bidders may not see changes to the lineup after the cutoff. Consign early and take care to be accurate in your submissions to ensure your vehicle is well represented.
Auction ConductRichfield Auctions will, at its own discretion, choose run times and particular lot numbers for all vehicles consigned to the auction. Lot confirmations will be emailed approximately 1 week prior to the auction.