Personal Property Auction Agreement Template (Page 2 of 4) in pdf

In the event, the Seller cancels the auction, for any reason, after the signing of the Contract, the Seller

agrees to pay the Auctioneer, _____________, for professional services rendered, and the auctioneer

will be reimbursed for any sale expenses that were made on the Seller’s behalf.

Seller represents that he has good and clear title to the assets, and the right to sell said assets free and

clear of any and all liens. Seller also agrees to hold auctioneer harmless and defend Auctioneer in the

event of any claim or future claim, including attorney’s fees, against the items being sold from any other

party following the auction.

Seller agrees to reimburse the Auctioneer for the actual cost of marketing and other sale expenses as

stated in the Auction Expense Statement attached, and incorporated by reference into this contract.

Additionally, the Seller agrees to compensate the Auctioneer for his services by paying a commission,

and, or, allowing the Auctioneer to charge a Buyer’s Premium.

Auctioneer’s Service Fee: ____ _____% Commission

__________% Buyer’s Premium

___________ Flat Fee

No Guarantee: Neither Auctioneer nor any agent or representative of auctioneer guarantees or

warrants any bid amount, offer, or selling price for the property. The parties agree that no appraisal of

value made for the property has any relevance to the bid amount, offer amount or selling price that may

be realized in the auction or otherwise during this agreement. Auctioneer is acting solely as a marketer

for the Seller and not as an accounting, financial, investment, legal or tax adviser, or in any other

capacity.

SETTLEMENT: Upon conclusion of the auction, the Auctioneer will collect the proceeds and provide

Seller with a complete itemize list of items sold, a buyer’s registration list, and any expense statements.

Auctioneer will deposit the sale proceeds into a special company escrow account. In TEN (10) business

days, when all checks have cleared, the Auctioneer will tender a net check to the Seller. In the event

that a check is returned, the Auctioneer will exhaust all legal remedies available to collect the full

amount. However, the Auctioneer, will not be liable for checks that are uncollectible.

This writing contains the entire agreement between the parties. Any modification of the

Contract must be reduced to writing and signed by the parties.

Risk of loss of SELLER'S property rests with the SELLER until the purchasers at the auction take

possession.

In witness whereof, this agreement will become effective on the date of executed signatures of

SELLER and AUCTIONEER.

Dated: the

day of

, 20____.

_______________________________

_________________________________

SELLER

AUCTIONEER

Personal Property Auction Agreement Template Page 2