Smithys trading consignment info

trading info

consignment Consignment offers a better deal for you. Our consignment fee is 20% ex GST. We will sell your item on your behalf and pay you when the item is sold. We pay you 80% of the sale price excluding GST after the item is sold. For example, if your item sells for $1,100 inc GST, we will pay you $800. example with an estimated sale price inc GST $1,100 sale price excluding GST $1,000 we will pay you 80% ie: $800 after the item has been sold When you book your goods in for consignment you will be asked to set a sale price. You will also be asked if you wish to set a reserve sale price to give us the opportunity to accept offers below the sale price. Offers between the sale price and the reserve sale price will be accepted. If a customer makes a reasonable offer below the reserve sale price, we will contact you and ask if you wish to proceed with the sale. We must sight your ID before we can consign any item. Please be sure to read our ID requirements. Please note, our minimum consignment fee is $50. This would be our fee at 20% for an item which sells for $250 ex GST or $275 inc GST. Items which sell below this price attract the minimum fee of $50. example with an estimated sale price inc GST $165 sale price excluding GST $150 we will take our min fee of $50 from the ex GST sale price we will pay you $100 after the item has been sold Please note also that if your item does not sell within one year we reserve the right to reduce the sale price by 30%. It is therefore in your interest to remove any unsold item from Smithys before one year. There is no charge to you for removing a consignment item from the store unless we have to freight it to you. Remember that, whilst your goods are consigned with Smithys it is your responsibility to keep us informed of any change to your current address or contact details. Payments are made to you with a cheque via post. Any offer below the agreed reserve price is forwarded to you as per your contact details. In such a case, if we cannot contact you we will not go ahead with the sale. Smithys will take care of your goods whilst they are in the store. If your goods become faulty whilst they are in our care and if the fault is not caused by us or our customers you will be responsible for repair costs or removal. If your item remains unsold for three years and if we are unable to contact you, Smithys may cancel your consignment contract and dispose of the item. Most consignment items, if priced fairly, sell within one year. Some are sold within the first few weeks.