Selling

Seller’s Terms & Conditions

The consignor (also referred to as the seller) hereby authorizes North American Pen Auctions Ltd. (“NA Pen Auctions”) to act as its agent and to sell at public auction the property listed on the attached Schedule A, subject to (a) these Sellers Terms & Conditions (the “Terms and Conditions”) and (b) the Buyer Terms & Conditions (which can be provided to you upon request).  For the purposes of these Terms and Conditions, “Person” includes an individual, corporation, company, partnership, trust, governmental body or any other legal entity,

The consignor authorizes NA Pen Auctions the exclusive right to sell the property provided at public auction. You, as the consignor, agree and warrant to us and to the purchaser that you are the sole owner of the property you are consigning and that you have the right to consign the property for sale; that the property is currently and through the sale kept, free and clear of all liens,  claims and encumbrances or others; that good title to and right to possession of the property will pass to the purchaser free of all liens, claims and encumbrances; and that all the property is authentic. All property will be sold to the high bidder, unless an auction price reserve is not met or minimum bid is not achieved. As a consignor you agree that our relationship as auctioneer and consignor shall be governed by this agreement, and that the auctioneer shall have complete and total discretion with respect to the rescinding of any sale.

NA Pen Auctions shall act as the consignor’s agent only and not as principal in the sale of the property and shall have absolute discretion in determining whether the property is suitable for sale; the catalogue descriptions of the property and any other matters relating to the sale of the property at the auction, including the sale of the property individually or in lots combined with other property consigned by the consignor. NA Pen Auctions, as agent of the consignor, is and shall not be responsible for any default by the consignor or the buyer.

The consignor represents and warrants to the auctioneer that the consignor’s spouse (if any) has consented under any applicable law necessary to ensure that title to the property will pass to the buyer free of any right to entitlement of such spouse and that the consignor is entitled to receive the proceeds of the property sold.

The consignor’s name, or designated business name as noted in the Agreement, will not be disclosed by NA Pen Auctions unless agreed by the parties in writing in advance. The consignor understands and agrees that NA Pen Auctions and its employees and agents may bid on the property consigned.

1. Auction Date

The property shall be offered in our next suitable auction sale, provided that such determinations will be at the sole discretion of NA Pen Auctions, and shall be subject to reasonable postponement or delay. NA Pen Auctions shall have complete discretion as to the lotting, cataloguing, advertising, publicity, provision for public inspection, and the manner of which the sale is conducted. The inclusion of lots in our year end auction is at our discretion. During the term of this agreement, the goods cannot be withdrawn from NA Pen Auctions for any reason without the consent of NA Pen Auctions.

3. Estimates & Reserves

The estimate range, is provided as a guide for prospective bidders and does not constitute a warranty, representation, guarantee or prediction of selling price. It will be at the sole discretion of NA Pen auctions to revise the pre-sale estimate of a selling price range for each lot. NA Pen Auctions is not liable for any errors or omissions with respect to the auction, catalogue or any other descriptions of the property.

All bids to protect the reserve price will be made on the consignor’s behalf by NA Pen Auctions. Neither the consignor, nor anyone whom we determine in our sole discretion may be acting on the consignor’s behalf, may bid on the property. The consignor acknowledges that such activity is contrary to Section 56 of the Ontario Sale of Goods Act, and is a fraudulent act. If the consignor or the consignor’s agent is a successful bidder for any or all of the property they shall be responsible to pay NA Pen auctions the buyer’s premium fee for the goods as well as the applicable seller’s premium, and may result in the revoking of consignor privileges.

4. Commission & Fees

The consignor agrees that NA Pen Auctions is entitled to, and will retain the following commissions/fees for services rendered: 25% on each lot sold at or below $100, 20% on each lot sold between $101-$5,000, 15% on each lot sold between $5,001-$10,000 and 10% on each lot sold over $10,000. Further, NA Pen Auctions is authorized to retain, as part of its remuneration, a buyer’s premium on the final bid price payable by the purchaser.

Except as otherwise agreed herein, insurance, storage, advertising, web services, cataloguing, illustration, and other miscellaneous expenses incidental to the sale of the consignor’s property shall be borne by NA Pen Auctions. Items such as restoration to enhance value, special advertising or shipping/import charges will be borne by the consignor and be subject to HST as applicable and shall either be payable by the consignor upon receipt of an invoice from NA Pen Auctions or deducted from the consignor’s sale proceeds.

5. Insurance

NA Pen Auctions shall provide reasonable safekeeping of the consigned property while in our possession, and the property shall be covered against loss by fire, theft and vandalism by our insurance policy. Any additional insurance coverage is the sole responsibility of the consignor. The insurance value of an item or lot is equal to its reserve price, if such a price has been agreed to on this receipt. In the absence of a reserve price the insurance value is determined as the low pre-sale estimate of the selling price prior to the auction, to be adjusted to the hammer price at the time of the auction. This charge will also cover items picked up at the consignors premises by members of NA Pen Auctions staff or agents. Any insurance claims arising from the damage of the goods during shipment or transportation shall be the sole responsibility of the seller prior to sale and the buyer post sale.

6. Unsold Lots

The consignor authorized NA Pen Auctions to sell any property remaining unsold at the auction sale by private sale at any price obtainable, provided that the private sale price is an amount not below the reserve price less commissions and incurred expenses due and owing to NA Pen Auctions. Our exclusive right to sell any unsold property shall be valid for ninety (90) days from the auction sale close date.  NA Pen Auctions will notify the consignor after this period if the lots remain unsold, they will be returned to the consignor at the consignors expense. If there is no elected declaration, and there is no return communication from the consignor, property will be considered abandoned thirty (30) days after notification and may be disposed of or sold as determined solely by NA Pen Auctions.

7. Advertising

The lots will be listed in NA Pen Auctions catalogue, which will be posted on our website, www.napenauctions.com. Our catalogue may also be listed on 3rd party auction platforms. The auctioneer promotes its auctions in a manner, and at its sole discretion, to gain maximum exposure amongst potential buyers in an effort to achieve the best results for our clients.

8. Photography

The consignor authorizes NA Pen Auctions to freely create images of all property consigned, through photography, digital imagery or other reproduction methods, and to use such images, before, during and after the date of sale for promotional and other purposes.

9. Payment:

The auction house shall pay the proceeds of sale to the consignor thirty-five (35) days after the date of sale, if NA Pen Auctions has been paid the purchase price in full by the buyer. The payment will be for the selling price less NA Pen Auctions’ commissions, expenses, and any other amounts owning to NA Pen Auctions by the consignor. If NA Pen Auctions has not received the purchase price from the buyer within the time period specified, then the auction house will pay the proceeds of sale within seven (7) business days following receipt of the purchase price from the buyer. If before the purchase price is paid in full by the buyer, the auction house pays the consignor an amount equal to the proceeds of sale, title to property in the lot shall pass to the auction house.

NA Pen Auctions are under no obligation and assume no responsibility to pursue payment from a buyer by legal or other methods. If a buyer fails to make payment on a purchase within the prescribed time, we may pursue payment, re-offer the item on the consignor’s behalf in a later auction, or return the item to the consignor. You agree to indemnify and save us harmless with respect to claims, actions, damages and liabilities of whatever nature which we may incur as a result of any breach by you of any warranties or representations made by you with respect to the property, or of any term of this agreement, or as a result of any claim asserted by a purchaser or any other Person arising from our activities contemplated by this agreement.

10. Warranties

If within 60 days from the date of sale, the buyer of any property demonstrates to NA Pen Auctions’ satisfaction that the property purchased is not authentic or is materially different from its catalog description or other NA Pen Auctions representations, NA Pen Auctions may, in its sole discretion, delay payment to the consignor (if not yet paid to the consignor), rescind the sale, and refund the full purchase price to the buyer. If the consignor has been paid, the consignor will remit to NA Pen Auctions the proceeds previously received for the rescinded sale.

11. Liability

In no event will NA Pen Auctions be liable for damage caused by the restorers, photographers, shippers, transporters, or any independent contractors employed by NA Pen Auctions, or for damage arising from changes in environmental conditions, or for inherent conditions or latent defects to the property.

12. Indemnity

The consignor shall indemnify NA Pen Auctions completely, including reasonable legal fees, against all costs, claims, actions, damages or liabilities NA Pen Auctions may incur as a result of any breach by the consignor of their warranties or representations made with respect to the property or any terms of this agreement as a result of any claim assorted by a purchaser or any other Person arising from our activities resulting from this agreement.

13. Legal

This agreement shall be administered in accordance with the laws of the Province of Ontario and any dispute will be submitted to the exclusive jurisdiction of the provincial courts and federal courts sitting in the city of Toronto. This agreement shall be binding upon the consignor’s heirs, executors, beneficiaries, successors and assigns.

14. Additional Covenants, Representations and Warranties by Sellers, Bidders and Buyers

(a) Every seller covenants and represents and warrants to and in favour of NA Pen Auctions that every property, item or lot provided for sale through NA Pen Auctions or an auction house:

(i) was not and is not an unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity;

(ii) was not unlawfully offered or provided to or received from, directly or indirectly, any foreign or domestic employee, official or any other like Person; and

(iii) was not in violation of any anti-corruption laws, anti-bribery laws, anti-money laundering laws, economic sanctions laws, export restrictions, anti-boycott regulations, embargo regulations or other similar applicable laws.

(b) Every bidder and buyer covenants and represents and warrants to and in favour of NA Pen Auctions that neither it, nor any of its agents or other Persons associated with or acting on its behalf will:

(i) use any property, item or lot purchased through NA Pen Auctions or an auction house for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity;

(ii)  unlawfully offer or provide, directly or indirectly, any property, item or lot purchased through NA Pen Auctions or an auction house to any foreign or domestic government employee, official or any other like Person; or

(iii)  in connection with any property, item or lot purchased through NA Pen Auctions or an auction house (including, but not limited to, the payment of the purchase price), directly or indirectly, take any action in violation of any anti-corruption laws, anti-bribery laws, anti-money laundering laws, economic sanctions laws, export restrictions, anti-boycott regulations, embargo regulations or other similar applicable laws.