Consignment Agreement

1. Introduction

This Consignment Agreement sets out the terms under which MDP Auction offers your items for sale via our online auction platform. By consigning an item to MDP Auction, you fully accept these terms and conditions.

2. Commission

MDP Auction collects a commission from sellers calculated on the hammer price (the final winning bid) of each lot sold.

3. Reserve Price

3.1 Setting a Reserve Price

You can set a confidential reserve price (minimum sale price) for your item. If the bidding does not reach this amount, the item will not be sold.

3.2 Recommendations

• The reserve price should be set at or below the low estimate
• A reserve price that is too high reduces buyer interest
• We reserve the right to refuse a consignment with a reserve price deemed unrealistic

3.3 Unsold Items

If your item does not meet its reserve price, you can:

• Reduce the reserve and re-offer the item in a future sale
• Reclaim the item (return shipping costs at your expense)
• Accept the highest offer below the reserve (at your discretion)

4. Payment Terms

Payment of the sums due to the seller is made by bank transfer after receipt of payment from the buyer. To find out the specific payment schedule, please contact MDP Auction.

Payment is conditional on the buyer's actual payment. In the event of buyer default, the item may be re-offered for sale or offered to the next highest bidder.

5. Authentication Requirements

To maintain the integrity of our platform, all consignments must meet our authentication requirements:

• Items must be authentic and accurately described
• We reserve the right to request additional authentication for high-value items
• Any counterfeit or misrepresented item will be refused and may be subject to legal action

6. Seller's Responsibilities

As a consignor, you are responsible for:

• Providing accurate descriptions and condition reports
• Disclosing any known defects, repairs, or damage
• Shipping items to MDP Auction securely and with insurance
• Guaranteeing that you hold legal title and the right to sell the item
• Complying with all applicable laws and regulations, including export matters

7. MDP Auction's Responsibilities

MDP Auction undertakes to:

• Photograph and catalogue your items professionally
• Write detailed descriptions and condition reports
• Promote your items to our community of bidders
• Manage the entire auction process
• Collect payment from buyers
• Securely ship sold items to the successful bidders
• Keep you regularly informed of the status of your consignment

8. Withdrawal Policy

Once items are catalogued and offered for sale, withdrawal is only possible in exceptional circumstances and may incur fees. Please contact MDP Auction for the applicable terms.

9. Insurance and Liability

Items in our possession are insured for their consignment value:

• Coverage begins upon receipt at our premises
• Coverage ends upon delivery to the buyer or return to the consignor
• We are not liable for loss or damage occurring during transport to or from our premises, unless organised by MDP Auction

10. Contract Duration

The duration of the consignment agreement is agreed with MDP Auction when the item is consigned. If the item remains unsold at the end of the term, you may request its return (shipping costs at your expense) or agree to extend the consignment.

11. How to Get Started

Ready to consign an item to MDP Auction? Visit our Sell / Consign an Item page to:

• Submit photos and a description
• Receive an estimate
• Discuss commission rates and the reserve price
• Arrange for the item's delivery

12. Contact

Ready to consign your items? Contact our team:
MDP Auction
Email: mdpauction@gmail.com
Phone: +41 76 325 19 19
Subject line: "Consignment Enquiry"
Visit our Sell / Consign an Item page or our Help Centre.