Welcome to Consignment with ... Of Things Past (OTP) By consigning with OTP, I as the Consignor confirm that I have read and understood, and am in full agreement with, these Consignment Terms & Conditions.
CONSIGNMENT TERM
The Consignor agrees to leave his/her Consigned Item(s) with OTP for a minimum of 150 days and a maximum of 180 days.
CONSIGNMENT SPLIT
The Consignment Split between OTP and the Consignor is based on the Final Selling Price of the Consigned Item.
$5001 and up - Consignor 60% and OTP 40%
$51 - $5000 - Consignor 50% and OTP 50%
$50 or less - Consignor 45% and OTP 55%
PRICE REDUCTION SCHEDULE
Each Consigned Item is given an Initial Selling Price which is automatically reduced by 10% every 30 days as follows:
Day 31 - Initial Selling Price is reduced by 10%
Day 61 - Initial Selling Price is reduced by 20%
Day 91 - Initial Selling Price is reduced by 30%
Day 121 - Initial Selling Price is reduced by 40%
Day 151 - OTP may reduce the Final Selling Price of the Consigned Item to encourage its sale. The Consignor may, from Day 151 to Day 180, take back an unsold Consigned Item free of charge.
Day 181 - If not yet sold or taken back by the Consignor, the Consigned Item becomes the property of OTP, to sell, dispose of, or donate, in OTP’s sole discretion.
TAKING BACK A CONSIGNED ITEM
A Consignor may take back an unsold Consigned Item prior to Day 151, by paying an Early Termination Fee equal to 20% of the Initial Selling Price of the Consigned Item, payable at pick-up; OR between Day 151 and Day 180, free of charge.
NOTICE TO RETRIEVE A CONSIGNED ITEM
OTP requires 2 days notice to prepare a Consigned Item for pick-up and will notify the Consignor by email or phone when the Consigned Item is ready. The Consignor has 7 days from the notice to pick up the Consigned Item(s); by the 10th day, Consigned Items not yet picked up shall become the property of OTP to sell, dispose of, or donate, in OTP’s sole discretion.
MONITORING THE STATUS OF A CONSIGNED ITEM
The Consignor is responsible for monitoring the status of his/her Consigned Item(s) including the dates on which an unsold Consigned Item may be reclaimed (between Day 151 and Day 180) and when an unsold Consigned Item becomes the property of OTP (at Day 181).
SALES, DISCOUNTS, PROMOTIONS
OTP may, at any time and in its sole discretion, offer sales, discounts, and promotions to encourage customers to shop at OTP. The Consignment Split above shall apply at all times and without variation to the Final Selling Price of Consigned Items sold with these sales, discounts, and promotions.
SHOWROOM-READY, CLEAN & FULLY ASSEMBLED
OTP only accepts items for consignment that are showroom- ready and in near-perfect condition. All items must be clean and polished, without odour, damage, rips, fading or staining and must be fully and properly assembled, with cabinet doors hung and drawers, hardware, handles, shelves, and inserts installed and attached. Items that do not meet these standards, will not be accepted for consignment and must be picked up within 7 days. Items not picked up by the 10th day, shall become the property of OTP to sell, dispose of, or donate, in OTP’s sole discretion, and any necessary removal or disposal fees shall be charged against the Consignor’s account.
SEASONAL AND HOLIDAY ITEMS
These Terms & Conditions (including the Price Reduction Schedule) shall be varied for Seasonal and Holiday Items, and when applicable, these variations shall be posted in the Consignment Room.
PAYMENTS TO CONSIGNORS
OTP shall mail cheques to Consignors by the 15th of the month following the sale of the Consigned Item(s) provided the Consignor’s account has reached a $100 minimum; amounts of less than $100 shall accumulate in the Consignor’s account until the $100 minimum has been reached and may be used for in-store purchases or gift certificates. A $5.00 fee shall be charged for each Consignor cheque. The Consignor is responsible for keeping his/her address up to date with OTP for the mailing of cheques. If a Consignor requests a cheque be re-issued for any reason, a $35 fee will be charged.
LIABLILTY
OTP makes every effort to care for all Consigned Items but is not responsible for breaks, cracks or dents due to the inherent quality or weakness of a piece.
CHANGE TO TERMS & CONDITIONS
OTP may make changes to these Consignment Terms & Conditions at any time without notice in its sole discretion. Such changes shall not apply to Consigned Items already consigned under previous Terms & Conditions.