1. A consignment request form must be fully completed and included with all items for consignment. The consignment term begins once the goods are priced and the terms agreed.
2. The consignor acknowledges there may be a period of time between the consignment term being agreed and the items placed for sale.
3. The Edit will arrange for the marketing, sale and distribution of consigned items through all their channels including the Lane Cove store, Website & Instagram. For online sales, the buyer or The Edit pays for shipping and packaging.
4. The Edit will be responsible for any loss of or damage to merchandise while it is under The Edit’s control.
5. Merchandise shall remain the property of the client until sold in the regular course of business.
6. The Edit shall devote their best efforts to the sale and distribution of Consignor’s merchandise through The Edit’s marketing channels.
7. The Consignor is responsible for checking the prices of their items via the online portal and responsibility lies with the consignor to notify The Edit immediately should pricing not be suitable.
8. Client agrees that The Edit may at their discretion, reduce the selling price by up to 20% in order to close a sale or include in store and online promotions.
9. Payout rates for clients are dependent on the price of the item. For items under $1,000, the commission is 50%. For items between $1,001 and $2,000 the commission decreases to 40%. For items between $2,001 and $3,00 the commission is 30% and for all items over $3,001 the commission is 20%. This rate is for items sold in store, via the website and on social media.
10. The consignment period for all items is 8 weeks. After 6 weeks, the item is reduced automatically by 20% for another 2 weeks.
11. Payments to clients occur once a month via direct debit. It is the Consignor responsibility to check the online portal to find out which items sold.
12. At the end of the consignment period (8 weeks) the item is considered expired, and it is the Consignor’s responsibility to collect their unsold items within 14 days of the expiration. Otherwise, all unsold items will be donated to charity. The Edit’s chosen charity is Lous Place.