Carolyn Collins Appraisal Agreement
CONSIGNMENT AGREEMENT
This Consignment Agreement (this "Agreement") is made effective as of March 21, 2024 between Carolyn Collins, 7224 Skylark Ct, Oklahoma City, OK 73162, referred to (“The Consignor”) and The Collection LLC, of 716 W. 15th Street, Edmond, Oklahoma 73013.
The parties agree as follows:
RIGHT TO SELL. The Consignor legally owns the items listed in exhibit A. In accordance with this Agreement, The Consignor grants “The Collection” an exclusive right to sell the Consigned items under the terms of this Agreement. The Collection agrees to devote its best efforts to the sale of the Consigned items. All sales prices and terms of sale shall be determined by mutual consent of the parties. The Consignor also certifies that he or she is the true owner of the Consigned items, has the right to sell, and has no lines or debt owned on them.
PRICING. The Consigned items shall be priced as listed on the attached exhibit A. The Consignor also allows the discounted rate of 5% for The Collection’s Hero Discount for military families and emergency services. This discount will be deducted on the final payout to The Consignor. All sales tax, and any miscellaneous fees collected at time of sale will be retained by The Collection.
PROCEEDS OF SALE. The Collection will pay to The Consignor a portion of the sales proceeds which shall be calculated as follows: 75 percent of the proceeds from the pretax sale of the Consigned items minus appraisal fees, gun lock cost and cleaning fees associated with it. The amount determined in the previous sentence shall be paid to The Consignor via company check within 30 days of the Consigned items selling.
TITLE TO MERCHANDISE. Consigned merchandise shall remain the property of The Consignor until sold. Due to the legal nature of selling firearms, all firearms that are checked into The Collection will be accompanied by a 4473 and/or FFL transfer upon sell of each item. If the items are being picked up by the original Consignor, a 4473 will have to be filled out and background check passed. In the event the Consignor can no longer pass a background check they will leave the firearms in the possession of The Collection until they are sold. A transfer fee of $35 will be applied to every firearm being picked up along with a cancellation fee of 10% of the selling price, appraisal fee, gun lock fee, and cleaning fee. All cancellations must give at least a 10 days’ notice before picking up the items.
LOSS AND INSURANCE. The Collection shall be responsible for all shortages, loss, or damage, while the merchandise is under its control. The Collection shall maintain insurance in adequate amounts to pay for replacement of the merchandise in the event of such shortages, loss, or damage. This may be waived with the LOSS AND INSURANCE Wavier is signed and agreed upon. The wavier is used when a firearm is valued at a higher rate then The Collection has insurance for.
WARRANTIES. Neither party makes any warranties with respect to the use, sale, or other transfer of the Consigned items by the other party or by any third party. In no event will The Consignor be liable for direct, indirect, special, incidental, or consequential damages, that are in any way related to the Consigned items.
EXIT STRATEGY. In the event one or more of the consigned items does not sell within 4 (four) months, the Consignor grants permission to sell the consigned items either at a discount to move the item or list the item with an online auction house. These fees will be deducted from the final selling price along with any fees and commissions owed to The Collection as per the PROCEEDS OF SALE section of this document. All discounts will be pre approved by Consignor.
ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties with respect to the subject matter of this Agreement and there are no other promises or conditions in any other agreement, whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties with respect to the subject matter of this agreement.
AMENDMENT. This Agreement may be modified or amended if the amendment is made in writing and is signed by both parties.
APPLICABLE LAW. This Agreement shall be governed by the laws of the State of Oklahoma.
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Signed by Stephen Hall Signed On: March 21, 2024
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Document Name: Carolyn Collins Appraisal Agreement
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