Seller Terms and Conditions
This document contains the standard agreement between Web Auction Brokerage, Inc., (AB) and the seller of an item (Seller) wishing to use the AB web auction service.
Authentication: Photos in listings must include all hallmarks or other identifying marks on the item and must include details of any damage or irregularities. Items may be subject to inspection with a black light or other non-destructive testing to verify the authenticity of the item. AB personnel will review item descriptions and condition reports for completeness and correctness. AB personnel will answer all Buyer inquiries. AB reserves the right to refuse items based on disagreements between the Seller and AB personnel.
Fees: Seller pays a flat fee of 35% of the item web auction price. Seller received 65% of the realized web auction price.
Confidentiality and Anonymity: Seller information is confidential and will be released to no one except legitimate Police Agencies with appropriate credentials and documents requesting the release of information. The seller will remain anonymous in all other circumstances.
Right to Refuse Service: AB reserves the right to refuse service to any individual.
Identification Requirement: In order to use AB services, the Seller must present a valid photo ID with a current street mailing address. P.O. Boxes are not acceptable. All AB payments are made by check paid to the name on the Seller's ID and are mailed to the address on the Seller ID.
Approval Period: AB offers a 5-day approval period on all items. Any item may be returned for any reason during the approval period. If the return is at the Buyer's discretion, the Buyer pays shipment both ways. If the Buyer can show that the item is not exactly as advertised, AB reimburses shipment cost along with the refund. The item must be returned in the same condition as shipped to receive a refund. AB relists items rejected by the Buyer. AB absorbs the original web auction listing fee and any shipment costs not paid for by the Buyer. AB may modify the item description and/or condition based on information supplied by the Buyer regarding the reason for item rejection.
Buyer Non-Payment: If a buyer does not pay for a sold item or make specific arrangements to pay for a sold item within 7 days, the item will be deemed unsold unless there is a second high bidder, in which case, the item will be offered to the second high bidder at one bid increment below the winning bid. If the second high bidder does not agree to buy the item, the item is deemed unsold.
Unsold Items: The Seller can specify what to do if the item doesn't sell during the first attempt. This condition occurs when there are no bids at the minimum price or when the reserve amount is not met. The options are:
-- Relist the item at a later date with (or without) changes to the minimum price and/or reserve.
-- Do not relist the item and hold it for pickup by the consigner. In this case, the item is deemed unsold.
If the item does not sell after the second attempt, the item is deemed unsold and is held for pickup by the consigner. The seller is notified via U.S. Mail when an item becomes unsold and should be picked up.
Offers to Buy Items Below Reserve Price: It is common practice for web auction bidders to offer to buy an item for an amount below the item's reserve price. If such an offer is made after an unsuccessful auction and the Seller has specified the relisting of the item, the offering party is informed that the item will be relisted. If such an offer is made after an item is deemed unsold, the offer is presented to the seller via email (or U.S. Mail if email is not available). If the seller agrees to sell the item at the lower price (either via email or U.S. Mail), the sale proceeds as if the item had been sold at a web auction; otherwise, the item stays unsold.
Unsold Item Fees: Unsold items will be released to the Seller upon payment of a $5.00 unsold item release fee.
Unclaimed Items: Unsold items that are not claimed within 30 days are deemed unclaimed and sold at web auction with a $9.99 minimum price and no reserve. Any proceeds from the sale remaining after satisfying the outstanding AB fees are disbursed by check to the individual named on the item consignment contract and mailed to the address on the associated photo ID.
Email Communication: The Seller is notified of the status of an item during web auction sale process via email. Regular mail is used only for unsold notices, offers made on unsold items, and disbursement of checks.
Damaged or Stolen Items: AB insures items that are damaged or stolen while being held by AB prior to shipment to Buyer, for the full price realized at web auction. If damage or theft occurs prior to web auction insertion, an item is insured for the minimum bid or reserve amount specified on the consignment contract, whichever is higher. Once payment is made to the Seller, the damaged or stolen item becomes the property of AB. Payment is made to the Seller within two weeks for damaged or stolen items. Recovered stolen items are sold per the original Seller terms and conditions. If the amount recovered through the sale of the item is greater than the amount paid in insurance to the Seller, AB pays the difference to the Seller. Title passes to the Buyer when the item is shipped. Damage during shipment is the responsibility of the shipper and does not hold up payment to the Seller.
Payment: Payment is made once the Buyer has received the item and the 5-day approval period has lapsed. The time until payment varies based upon the shipment method chosen by the Buyer. The projected payment date is supplied to the Seller via email when the item is shipped.
Shipment: Items are shipped once the Buyer's payment has cleared the AB bank. Shipment is next day for credit card payments and payments by cash instrument (Money Order or Cashier's Check). Items are held for 10 days to insure that personal and business checks clear the AB bank.
Title: AB does not take title to items provided by a Seller for resale, except as provided in Damaged or Stolen Items, above. An item is held in escrow until the auction sale is completed and the item is shipped to the Buyer, or the item is deemed unsold and dealt with through other provisions in this contract.
Buyer Expenses: The Buyer pays actual packaging and shipping charges. See Buyer Terms and Conditions for a complete description of services provided to the Buyer.
Excluded Items: AB will not accept items that are on the excluded item lists of the top three web auctions. Excluded items include, but are not limited to:
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-- Explosives or Hazardous Materials
-- Alcoholic Beverages
-- Prescription Drugs
Photographs: All photographs taken for auction listings are the exclusive property of AB.
Copyright 2000-2006 Web Auction Brokerage Inc.
