Fanatics Collect Consignment Terms & Conditions
This Agreement is between the owner outlined in the agreement (the Owner) and 130 Point Pty Ltd trading as The Hobby Australia Cards and Collectables, ABN 94 414 067 225 (the Business) regarding the provision of services by the Business to the Owner. The Owner hereby engages the Business to provide the services herein described, and authorizes the Business to deal with the Item(s) as the Owner’s duly engaged agent for the scope of the services contemplated by this agreement, the scope of such services being as follows:
1. The transfer, grading and/or authentication (as required) and sale of the items in the Agreement (the Item(s)), owned solely by the Owner, through Fanatics Collect, 95 Morton Street, 4th Floor, New York, NY 10014 (Fanatics Collect). The Business will liaise with Fanatics Collect on behalf of the Owner to have the items graded and/or authenticated (as required) and included in an auction, the timing of which is to be decided on by Fanatics Collect; and
2. The dispersal of the sale proceeds (Owner’s Net Proceeds) by the Business to the Owner, less any fees (grading, authentication or otherwise), taxes and amounts, if any, owed to the Business and Fanatics Collect
(the Scope).
The Owner and the Business hereby ACKNOWLEDGE and AGREE as follows:
1. The Owner warrants that they are the sole legal owner of the Item(s), that they have not transferred, encumbered or assigned any interest in the Item(s) to any person or entity, and that they have the right to deal with the Item(s) and enter into legal agreements regarding the same. The Owner agrees to indemnify and hold the Business harmless from any claims, demands, actions, causes of action or suits brought against the Business by any person or entity claiming any interest in the Item(s).
2. For the sake of clarity, the Business will be responsible and authorised by the Owner for all dealings with Fanatics Collect on their behalf.
3. The Business will be responsible for the transport (including shipping fees) of the Item(s) and delivery to Fanatics Collect for sale. Whilst in transit to Fanatics Collect the Item(s) will be insured to the amount declared in clause 4 of this agreement.
4. The Owner agrees that the Business will be solely responsible for determining the market value of the Item(s) for the purposes of insurance, or if transported in person by the Business to Fanatics Collect, a maximum of $250,000 AUD, whichever is less.
5. The Owner acknowledges that the value outlined under clause 4 represents the maximum value the item will be insured for whilst in transit to Fanatics Collect. If the items are damaged or lost in transit to Fanatics Collect, the Business will determine the amount of compensation to be paid to the Owner based on a variety of factors including but not limited to; current market value, level of damage incurred to the Item(s), remaining value of any damaged Item(s). If Fanatics Collect determine they damage or lose the Item(s) whilst in their possession, and agree to make a compensation payment, Fanatics Collect will be solely responsible for determining the amount to be paid out to the Business on behalf of the Owner.
6. The Business will be responsible for and expressly authorised on behalf of the Owner for all dealings with the Item(s) as reasonably required for the performance of the Scope. The Owner has read and agree to the Businesses Term and Conditions.
7. The Owner acknowledges and agrees that fees payable under this agreement are due and payable independent of the results of any auction of the Item(s), including but not limited to if the Item(s) is not listed for auction, passed in or otherwise not sold.
8. The Owner agrees that if any of the Item(s) are to be graded by Professional Sports Authenticator (PSA) or assessed by any other Authenticator agreed to with the Owner prior to auction, that the Business will manage the entirety of this processes in accordance with the Businesses Term and Conditions and the PSA Grading Terms and Conditions. The grading and/or authentication fees associated with this process will be passed directly on to the Owner and removed from their final payment.
9. The Owner agrees to pay any fee increases incurred by the Business from PSA due to an increase in Item(s) value post grading as determined solely by PSA.
10. The Owner agrees that the Item(s) are to be sold via Auction through Fanatics Collect, and the Owner agrees with the Fanatics Collect Terms of Use. The Owner acknowledges once the items submitted under the Agreement are sent to Fanatics Collect by the Business, they cannot be returned and will be sold via the selected Consignment Service. There are no exceptions to this statement unless Fanatics Collect explicitly reject Item(s) from sale and notify the Business in writing that it will be returned to the Business. If the reason for rejection is due to an omission of fact by the Owner, due to the Item(s) being tampered with in any way prior to consignment with the Business or any other factor outside of the control of the Business or Fanatics Collect, the Owner will be liable for all return postage costs, as well as fees, charges or taxes incurred by the Business from Fanatics Collect or any other entity.
11. The Owner, their family, friends, affiliates, or representatives are not to bid on the Owner’s Item(s) on behalf of the Owner. If this occurs the auction winner will be liable to pay the full sale price inclusive of any associated fees and charges to Fanatics Collect. The Business and Fanatics Collect reserve the right to ban the Owner from any use of their respective services if the Owner undertakes these actions.
12. The Owner agrees that a reserve will not be set on the Item(s) at auction, and Fanatics Collect will be solely responsible for setting the starting bid for each Item.
13. The Owner agrees that there are inherent risks with any auction in so far as the final sale price can not be predicted or guaranteed in any way. By signing this agreement the Owner agrees to sell their Item(s) via the Consignment Service and accepts that if the item is auctioned by Fanatics Collect the final sale price may not be the same as recent similar sales of the same or similar cards. If the Owner is not willing to accept the risks associated with selling a card via auction at Fanatics Collect they should consider other alternative methods of.
14. At the completion of the Item(s) auction or sale, and once the buyer has paid Fanatics Collect, the Business shall receive the proceeds of the auction from Fanatics Collect on behalf of the Owner and disperse the funds to the Owner. Fanatics Collect will automatically transfer the auction proceeds to the Business 10 business days after they have been received by Fanatics Collect. As such the Business is likely to receive them within 15 business days of the payment being received by Fanatics Collect.
15. The funds to be dispersed shall be defined as the amount payable to Fanatics Collect by the buyer of the Item(s) excluding the Fanatics Collect 20% Buyer’s Premium (the Final Auction Price) multiplied by the Fanatics Collect Payout % defined in Table 2 below, less any fees (grading, authentication or otherwise), taxes and amounts, if any, owed to the Business and Fanatics Collect owner (Owner’s Net Proceeds).
16. Within 5 business days of receiving the proceeds of the auction from Fanatics Collect, the Business will arrange for the transfer and currency conversion of the Owner’s Net Proceeds to the Owner’s nominated bank account via Electronic Funds Transfer. The exchange rate applied shall be that of National Australia Bank (NAB) for the conversion of USD to AUD at the time of conversion as stipulated in the Businesses online banking account. The Business shall not be liable for any loss as a result directly or indirectly attributable to fluctuations in the currency exchange rate of the USD to AUD.
17. Should the Owner decide after signing this agreement to not proceed with authentication, and/or sale of the Item(s) at Fanatics Collect, the Business shall be paid:
a. all grading and authentication fees agreed to as part of this agreement,
b. $250 AUD for 10 Items or less, or $250 AUD plus $10 AUD per item in excess of 10 as partial reimbursement for services rendered; and
c. any fees, charges and taxes incurred by the Business from Fanatics Collect as a direct result of cancelling the contract of sale for the Item(s) between the Business and Fanatics Collect.
18. Any payments required by the Owner to the Business that result from the enactment of clause 17 of this agreement will be payable within 10 business days of the Business issuing an invoice in writing to the Owner.
19. Should the Item(s) be damaged whilst at Fanatics Collect, the Business will receive any compensation payment from Fanatics Collect on behalf of the Owner. Prior to dispersal of any compensation amount to the Owner in accordance with clause 5, the Business shall deduct any fees, charges or taxes incurred by the Business from Fanatics Collect and any grading or authentication fees payable.
20. The Owner irrevocably grants the Business and Businesses assigns, licensees, and successors the right to use imagery of the items detailed in the Agreement and in all forms and media including composite or modified representations for all purposes, including advertising, trade, or any commercial purpose throughout the world and in perpetuity. The customer waives the right to inspect or approve versions of the imagery used for publication or the written copy that may be used in connection with the images.
Table 1– Standard Card Grading Services
Table 2 – Fanatics Collect Payout Percentages for items sold at Fanatics Collect
