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PROSPECT TREASURES
CONSIGNMENT

FAQ

Most frequently  asked questions and answers

CONSIGNMENT AGREEMENT PROSPECT TREASURES AGREES TO ACCEPT ON CONSIGNMENT FOR A PERIOD OF NINETY (90) DAYS FROM DATE OF THIS AGREEMENT, ON THE FOLLOWING TERMS AND CONDITIONS: (1) Pricing: Starting selling price is agreed upon by consignor and Prospect Treasures prior to the contract start date, unless consignor agrees to market pricing in advance. (2) Markdowns: Consignor agrees to a sales price reduction of 10% on each item, at each 30-day interval of contract. (3) New Consignors: An initial non refundable setup fee of $10.00 is required. (4) Special Fees: A nominal charge may be assessed for parts, repair, or cleaning if it becomes necessary, in order to make an item marketable. Charges will be detailed in the account summary. (5) Sales Commissions: Fifty percent (50%) of the selling price is payable to Prospect Treasures on date of sale of any item. Ebay items are (35%) plus ebay fees. (6) Contract Ending: At the end of the ninety (90) day contract period, it is the responsibility of the consignor to pick up the unsold items, unless otherwise agreed upon by both the consignor and Prospect Treasures. After 90 days from date of contract, items are considered abandoned unless other arrangements are made. Consignor assumes no interest in any such item and agrees that item(s) may be disposed of by Prospect Treasures. (7) Title: Consignor hereby represents and warrants that he/she has full authority to sign this agreement, to deliver and sell the items listed on this contract, and that he/she has clear and unencumbered title to said items. Consignor hereby agrees to indemnify and hold Prospect Treasures and any purchaser of any such items harmless from all claims or demands which may arise from any transaction contemplated by this agreement. Consignor agrees to pay all costs, including attorney’s fees, incurred by Prospect Treasures or any purchaser of items which may arise as a result of any breach of the warranty of title made by consignor. (8) Responsibilities: Prospect Treasures agrees to use its best efforts to sell said items within ninety (90) days. Prospect Treasures shall not be held responsible for any loss or damage to said items from any cause unless resulting from gross negligence. (9) Payment: Prospect Treasures shall pay consignor any proceeds owned under this agreement. Checks will be available for consignor pickup on the 15th day of the month following the sale of any such item(s), unless otherwise arranged. (I.D. required) (10) Entire Agreement: This agreement contains the full and complete understanding of all parties referred to and is executed in Louisville, KY.

If you have larger items such as furniture, rugs, Art, and/or something of larger value, we ask that you send us pictures of the items. Pictures can be emailed to: Paul@prospecttreasures.sg-host.com, Please make sure that the pictures are not blurry, and that they are adequately lit. Please include pictures of any imperfections in the items because these could result in refusal of item. Make sure your items are clean and in good condition. We will answer emails within 48 hours.

We consign for 90 days, we do a 50/50 split of whatever the item sells for and items are marked down 10% every 30 days, up to 30%.

If your item doesn’t sell you have 14 days to make arrangements to pick your items up, from 7 days before to 7 days after the end of the 90-day consignment term. Unsold items not picked up within 7 days of the end of the consignment term become property of the store and may be donated or discounted at Prospect Treasures discretion.

Yes, we only take consignments by appointment. We do this to provide the best service possible and to avoid two or three dropping off at the same time.
Absolutely not. We do, however, add a small fee to the price of each item to help offset our handling and processing costs, which is paid by the buyer.
We can provide you with the names of some excellent independent movers that are very reasonably priced.
No, we do not price items until they get to the store where we can properly inspect and research, if needed, each item.
Yes, items should be clean and ready to go on the floor. If items aren’t clean, they may be rejected or you may be subject to a cleaning fee.
No, we ask that you bring your items ready to go on the sales floor. We won’t take items that are damaged or broken.
We price items based on research, information provided by the consignor, and our experience with what our customers are willing to pay for a particular item. We try to maximize the return for the consignor while offering a fair price to our customers that will get the item sold. If you have an expectation on pricing, please let us know, preferably when dropping the item off.

We do our best to get your items out as soon as space and inventory allows. The 90-day consignment term doesn’t start until the item is placed on the floor. Some items could have different starting and ending dates.

When your items are priced and put on the floor, you should receive an email from us listing the items, their price and expiration date.

We will process your check after the 10th of each month for the previous month sales. It is the consignor’s responsibility to pick up their check at the store. We do not mail checks unless the consignor has moved out of state.

Balances under $25.00 will be carried forward until they reach or exceed $25.00. You can leave the balance on your account or you can request a cash payout.

If you move out of state, let us know and make sure we have your new address, your check will be mailed to you on the 10th.

No, after the 90 days the item becomes store property. We send an email when items are put on the floor that includes the expiration date for those items, please mark this date on your calendar.

No. The accounting for balances and purchases are kept separate to ensure that all sales are recorded properly. Your balance will be paid out either before or after a purchase is made.

No, it may be a function of our current inventory or that, based on our experience, it’s not what our customers are looking for. It’s all about Supply and Demand.

Yes, but please make sure the rug is clean and free of pet hair, stains, rips or tears, and smells or it will be rejected.

Yes! As long as your pet is well behaved, on a leash and not destructive. Our dogs are often in the store with us. Come visit!

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