This is an agreement between a seller and an auctioneer regarding the auctioning of the
seller’s goods. The agreement provides the auctioneer’s fee, the seller’s obligations,
and the rights and responsibilities of each party. Additionally, this document includes an
“Exhibit A” which allows for user customization to include a list of the property the seller
wants sold and any other special instructions. This document should be used by parties
who want to sell their products using an auctioneer.
THIS AUCTION AGREEMENT (the “Agreement”), made as of ___________
[Instruction: Insert Date], by and between ___________ [Instruction: Insert Name of
Auctioneer], ___________ [Instruction: Insert Address] (the “Auctioneer”) and
___________ [Instruction: Insert Name of Seller], ___________ [Instruction: Insert
Address] (the “Seller”).
WHEREAS the Seller desires to engage Auctioneer to sell the property set forth in
Exhibit “A” (the “Property”), attached hereto and incorporated herein, at public or private
auction, and the Auctioneer desires to accept such engagement;
NOW, THEREFORE, in consideration of the promises and other good and valuable
consideration set forth, the parties agree as follows:
A. Term/ Exclusivity. For a period of ___________ [Instruction: Insert Time]
months, the Seller hereby appoints the Auctioneer as Seller’s exclusive agent and grants
unto the Auctioneer the exclusive listing and exclusive right to sell the Property at public
or private auction.
B. Obligations of Auctioneer. In connection with the appointment as auctioneer of
the Property, the Auctioneer shall:
i. Prepare an advertising program for marketing the Property by using
brochures, newspapers, signs, posters or other such media as determined by the
Auctioneer to be in the best interest of the auction, for the purpose of soliciting
prospective bidders and buyers;
ii. Schedule a public or private auction (the “Auction”) to be held on
___________ [Instruction: Insert Date], at ___________ [Instruction: Insert
Address], or at some other date and/or place as may be mutually agreed by the parties;
iii. Arrange for experienced and qualified personnel and obtain all necessary
equipment to properly conduct the Auction;
iv. Use Auctioneer’s good faith efforts to take good and reasonable care of the
Property prior to and during the auction;
v. Use Auctioneer’s best efforts to obtain the highest price possible for the
Property, although Auctioneer cannot and does not make any representation as to the
amount which shall be generated at the Auction;
vi. Make full payment of the proceeds to the Seller, less Auctioneer's
commission, costs, expenses and other authorized charges, as set forth in paragraph 1(C)
herein, along with an accounting of such, within thirty (30) days following the
completion of the Auction; and
vii. Comply with all provisions of law relating to the conduct of this Auction.
C. Auctioneer’s Commissions, Costs and Expenses.
i. The Seller shall pay to the Auctioneer a commission of ___________ percent
(__%) [Instruction: Insert Percent] of the gross selling price of the Property upon
completion of the auction. Auctioneer shall not be responsible for any buyer’s failure to
consummate a sale at the auction.
ii. An additional buyer’s fee of ___________ percent (__%) [Instruction: Insert
Percent] [Instruction: Choose one: will//will not] be added to all bids, as additional
compensation for the Auctioneer.
iii. The Seller shall pay for all clerical fees, personnel fees, advertising costs and
other reasonable, documented and actual expenses incurred by Auctioneer in connection
with the Auction (including Auction set up expenses) upon the completion of the auction
and receipt of itemized invoice from Auctioneer indicating all such fees and costs.
2. SELLER’S OBLIGATIONS.
A. Obligations of Seller. The Seller shall:
i. Provide the Auctioneer information so that a detailed description of the
Property can be promptly and accurately prepared;
ii. Be present at the auction, or have a representative present whom shall be
familiar with the Property to be sold, and make known at the proper time any hidden
defects or any incorrect statement of the Auctioneer; and
iii. Execute all deeds, bills of sale, title papers or other instruments of conveyance
with the usual warranties to the winning bidder at the auction.
B. Representations and Warrant