Terms and Conditions for Shop Vendors
TERMS AND CONDITIONS FOR SHOP VENDORS
1. These Terms and Conditions apply to all transactions relating to the offering and consignment of items by a vendor (referred to as “you”) for sale on a shop which may be hosted on our own website www.thepedestal.com and/or elsewhere including on one or more third party aggregator websites (in each case, referred to as the “Shop”) by The Pedestal Limited, trading as The Pedestal or On The Pedestal (referred to as “we” or “us”), and may not be varied unless agreed in writing in advance by one of our directors.
2. When you offer us one or more items for consignment on the Shop (an “Item”), we will provide you with our proposal of Asking Price and Minimum Sale Price, where “Asking Price” is the price listed for each Item on the Shop, and “Minimum Sale Price” is the price below which we will not sell the Item without your prior approval (subject to paragraph 16 below). Pricing proposals are given after due consideration and to the best of our knowledge and experience, but cannot be taken as a guarantee or statement of value. It may be necessary for us to vary any proposal which is given “unseen” from images or after initial inspection once we have the chance to inspect fully and research the Item.
3. If we do not think that the Item is appropriate for listing on the Shop, or if you do not agree with our pricing proposal, the consignment will not proceed and any Item already delivered to us will require to be collected from us under the terms of paragraph 15 below within 14 days of you being so notified, unless you and we instead agree to a consignment of the Item for auction.
4. Once a pricing proposal is agreed we will provide you with a contract (“Contract”) setting out the agreed terms including the Asking Price, the Minimum Sale Price, and our fees and charges (“Charges”). The Contract will also specify the “Initial Period” for consignment and subsequent “Renewal Periods”, which will each be 6 months unless otherwise agreed, beginning with the date on which the item is listed for sale on the Shop.
5. By signing the Contract, you appoint us as your agent pursuant to these terms and conditions, warrant and undertake that you have the right and title so to do and that the sale of the Item will not breach any applicable law or regulation and that any relevant tax and duties on the import of the Item or otherwise have been paid, and indemnify us and our purchaser/s, if any, against any breach of this warranty and undertaking. We reserve the right to ask new clients for identification and proof of address.
6. We will charge a vendor’s fee of 30% of the first £50,000 of the realised price of each item, and 25% of any portion of such realised price which is above £50,000. We will also charge a Listing Fee to cover cataloguing, illustrations, loss and damage, and storage. The Listing Fee for the Initial Period will be 3% of the Asking Price of each item, and a further 1% of the Asking Price for each Renewal Period. We will not charge a purchaser’s fee.
7. All Items will be fully catalogued and illustrated on the Shop and condition reports will be available upon request to potential purchasers. If the Item is sold by us, copyright in the illustration/s will be retained by us and we may publish the image for our marketing purposes. If the Item is returned to you unsold, copyright will pass to you provided that all Charges owed to us have been paid, and provided that we also retain the right to use the image/s for research, marketing and cataloguing purposes.
8. A deadline for delivery of Items for consignment, which will be at your cost and risk, will be specified in the Contract. We are happy to provide details of a reputable carrier upon request.
9. We will take responsibility for loss or damage caused to such Items whilst they are in our possession unless the Contract specifies otherwise. The valuation of the Item in such event will be the Asking Price before sale, or if the Item has been sold and if lower, the actual sale price, net in either case of what would have been our Charges. We cannot, however accept responsibility for any loss or damage however caused relating to wear and tear, warping or shrinkage, woodworm or other such pest, or to any Item which has been specified as “Fragile” in the Contract.
10. You may be asked to pay Listing Fees in advance as part of any agreement for an Initial or any Renewal Period.
11. You are entitled to withdraw any item at any time upon notice to us in writing, provided that we have not at the time of receiving your notice received an offer to purchase the item, and provided that (a) if the withdrawal is during the Initial Period you will pay us a withdrawal fee equal to 100% of what would have been our Charges based on the Asking Price, or (b) if the withdrawal is received within a Renewal Period you will pay us a withdrawal fee equal to 50% of such Charges. Items withdrawn at the expiry of an Initial or a Renewal Period will not be subject to a withdrawal fee.
12. Notwithstanding paragraph 11 above, if at any time after consigning an item to us you agree to sell such an item to a purchaser who had previously made an enquiry regarding such item to us, we will be entitled to charge you a fee equal to 100% of what would have been our Charges based on the Asking Price for such item at the time of such enquiry.
13. You agree that we are entitled to deduct from any amounts received by us (a) our Charges referred to in the Contract and/or in these terms and conditions (b) any VAT or the like required to be deducted under applicable law and (c) any interest earned on the proceeds of sale between the date on which we are paid and the date on which we account to you.
14. In certain circumstances, including deliberate forgery, the purchaser is entitled to rescission of the purchase contract and refund of sums paid. Under such circumstances you agree that we have the right, without limitation, to withhold all sums otherwise due to you, or if we have already accounted to you, to recover all sums paid to you. If you disagree with our cataloguing of any of your items or with the contents of any condition report please inform us immediately, failing which you are deemed to have approved such.
15. Any item unsold at the expiry of the Initial or any Renewal Period must be collected at your expense from such address as we inform you, no later than 14 days after such expiry date, unless we have both agreed to continue the consignment or unless alternative arrangements have been agreed, failing which we will have the right to charge you storage charges and/or to arrange delivery of your item/s at your expense and/or sell the item at auction including a third party auction in order to defray the cost of such charges.
16. If we are made an offer by a potential purchaser of an item which is below the Minimum Selling Price, we are entitled to accept such offer provided that the amount you receive net of Charges is no less than you would have received if the item had sold at the Minimum Selling Price.
17. We will not release your item/s to any purchaser until we have been paid in full.
18. Sums received by us from purchasers will be held by us on trust for you and other vendors (as the case may be) in a segregated account, subject to deduction of Charges to which we are entitled.
19. We will account to you for all sums owed, which will be net of all fees and charges owed to us by you on this or other transactions which you and we may have engaged in, within 28 days of the date on which we have paid in full by the purchaser. If the purchaser has not so paid within what we consider to be a reasonable time, we may take legal steps against them subject to agreement with you including as to costs, but we reserve the right to rescind the purchase. Under some circumstances the purchaser may have the right to cancel a purchase made after the sale for a certain period after collection or delivery, and in such circumstances we will account to you only after the expiry of such time period. Settlement will be by bank transfer unless otherwise agreed, and must be made to an account in your name which you have notified to us in the Contract. We are not obliged to investigate the credit-worthiness or bona fides of any potential purchaser and nor are we obliged to enforce any rights which we may have against any such potential purchaser.
20. General Terms:
a. These terms are made and must be construed under English law and any disputes arising from them or from the Contract will be subject to the exclusive jurisdiction of the courts of England and Wales.
b. All Charges and any other sums referred to herein or arising herefrom are stated net of Value Added Tax but may be subject to VAT or the like at the rate or rates prevailing at the time of any transaction.
d. All transactions are conducted according to our discretion. We may refuse to accept an offer from any potential purchaser and otherwise regulate the Shop, any consignment, listing and any potential transaction and all associated proceedings as we deem most appropriate. Our decision in relation to any dispute relating to any item or transaction which may arise during or after any consignment is final. We may (but are not obliged to) host the Shop on our own website or on any third party site and may accept offers to purchase in person, by telephone, or online via our own or a third party Shop. We will not in any event be liable for any listing or failure to list any Item or to register or accept any offer whether caused by breakdown of communications technology or otherwise.