ABI Fine Art

Consignment sale dealers must rely on being able to sell your goods at a price that will provide you with the money you expect pay their expenses and still leave them a profit. If they are faced with financial difficulties they might use the money for purposes other than paying you. The risk when you consign your property for sale is very real. You are giving something valuable to a stranger; trusting them to hold it and sell it for you. We suggest getting an independent appraisal on the value of the item.~~For all consignments there should be a written agreement so that both you and the dealer know what to expect. The agreement is a contract and each party has rights and responsibilities. Some things you should look for in the agreement are; a full description of the property being put on consignment including the make model color size and serial number. For art work make sure the agreement includes the title size if the item is framed or unframed or any other descriptions necessary to identify your property. The agreement should include the amount you expect to receive from the sale; the amount or percentage the dealer will receive; and what the dealer is authorized to do on your behalf without notifying you.~~Find out about who will pay for any work or repairs done to the property who is to pay any shipping or delivery costs lien checks and for insurance against theft or damage to the item while it is on consignment. Time limits are crucial to any agreement. The agreement should state the length of time the dealer has authority to sell your item and if your property is sold when does the dealer have to pay you your share? Both you and the dealer should date and sign the agreement.