Agreement to Employ Auctioneer

for Your State

This Agreement to Employ Auctioneer sets out the specific duties of an auctioneer related to notices and advertisement of an auction. It also sets forth the date, time and location of the auction.

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This Agreement to Employ Auctioneer sets forth the complete agreement between a seller and an auctioneer who will conduct an auction in order to sell goods or products of the seller that are governed by the Uniform Commercial Code. This comprehensive agreement sets forth the date, time and location of the auction and a detailed list of the property to be sold at auction. It also sets forth the duties of the auctioneer in regard to notice and advertising for the auction, preparation and display of the seller's property and how the sale will be conducted.

This Agreement to Employ Auctioneer contains the following provisions:
  • Parties: Sets out the name and address of the seller and the auctioneer who will auction the seller's property at public auction;
  • Auction Date: Sets out the date, time and location of the auction;
  • Duties: Auctioneer will perform specific duties including noticing and advertising the auction, prepare and display property to be sold, conduct the sale and collect any deposits from purchasers. He or she will also notify seller of any unsold property and keep a complete accounting of all auction sales;
  • Duties of Seller: Seller will provide auctioneer a list of creditors and the amounts owed, any past business names of seller and cooperate with auctioneer in performing their duties;
  • Compensation: Seller will pay auctioneer a set amount for performing auction services and expenses related to advertising and delivery of property to the auction site;
  • Signatures: This agreement must be signed by both parties.

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This attorney-prepared packet contains:
  1. General Information
  2. Instructions and Checklist
  3. Agreement to Employ Auctioneer
State Law Compliance: This form complies with the laws of all states
Number of Pages9
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#43659
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Agreement to Employ Auctioneer 
(For Sale Under UCC)

 

 
Agreement made[date of agreement], between [name of seller], of [address of seller] (“seller”), and [name of auctioneer], of [address of auctioneer] (“auctioneer”).
 
 
SECTION 1. STATEMENT OF EMPLOYMENT
 
Seller employs auctioneer to sell [the following property as described, [description of property]/the property described in Schedule [designation of schedule] annexed to this agreement and, by this reference, incorporated in this agreement] (“seller's property”), at public auction, and auctioneer accepts such employment in accordance with the terms and conditions set forth in this agreement.
 
 
SECTION 2. PLACE AND TIME OF SALE
 
The auction sale shall be held at [address of auction], on [date of auction] at [time of auction].
 
 
SECTION 3. DUTIES OF AUCTIONEER
 
Auctioneer shall perform the following duties:
 
A. Notice. Auctioneer shall give notice of the auction personally or by registered mail at least [number of days for notice] days before it takes place to all persons shown on the list of creditors furnished by the seller and to all persons who are known to the auctioneer to hold or assert claims against the seller, pursuant to [citation of Uniform Commercial Code].
 
B. Advertising. Auctioneer shall advertise the auction sale in newspapers in the City of [name of city], [name of county], [name of state]. Auctioneer shall also [modes of advertising], and shall also advertise the auction sale according to [auctioneer's custom/the custom and usage of the business].
 
C. Preparation and a display of property. On receipt of seller's property at the place of sale and before the time of the auction sale, the auctioneer shall prepare and display such property at the place of sale in a manner designed to induce bids for the highest obtainable price. Risk of loss or damage to the property while it is in the possession of the auctioneer shall be borne by [seller/auctioneer].
 
D. Conduct of sale. Auctioneer shall conduct the auction sale to the best of auctioneer's ability. However, auctioneer does not guarantee a sale and auctioneer is not responsible if seller and any buyer at the auction sale do not comply with their agreement, or in the event of non-delivery of property by seller to any such buyer.
 
E. Sale without reserve. Auctioneer shall represent and conduct the auction sale as an auction without reserve.
 
 
F. Deposit from buyer. Auctioneer shall collect and deposit from buyer [percentage of deposit]%of the purchase price immediately after the sale is consummated, in cash or certified check.
 
G. Memorandum of sale. Auctioneer shall cause any buyer at the auction sale conducted under and pursuant to this agreement to sign a memorandum of sale immediately after the sale is consummated.
 
H. Resale. Auctioneer shall keep the bidding open after the goods are struck down, and in case any buyer fails to comply with any of the conditions of sale, the goods so struck down to buyer shall be again put up for sale.
 
I. Unsold property. Auctioneer shall notify seller of any property remaining unsold at the completion of the auction sale and await the instructions of seller, provided that auctioneer shall receive such instructions by [date of receipt], at [time of receipt]. If no such instructions are received by auctioneer within that time, seller's property may be stored by auctioneer at seller's expense, at the sole risk of seller.
 
J. Accounting. On completion of the auction sale conducted under and pursuant to this agreement, the auctioneer shall provide seller with a list of the property sold, the sale prices, deposits received, and the name and address of each buyer. After deducting the amounts that auctioneer is entitled to receive pursuant to this agreement, auctioneer shall apply the proceeds so far as necessary to pay the debts of the seller in accordance with [citation of Uniform Commercial Code]. The auctioneer may hold the proceeds until such debts are ascertained, or deposit all or part of the proceeds either: (1) in a checking account subject to withdrawal by both seller and auctioneer; (2) in escrow with a third party designated by [seller/auctioneer]; or (3) with a court of competent jurisdiction.
 
K. Warranty. Auctioneer shall not give any warranty or guarantee as to quality, character, condition, size, weight, or fitness of the property to be used for the purpose for which it was originally intended or for any particular purpose. Auctioneer shall not represent that the goods presented for examination by any bidder are similar to the goods sold. Auctioneer shall not give any allowance to any buyer on any of the grounds.
 
 
SECTION 4. AUTHORITY OF AUCTIONEER
 
Auctioneer is authorized to do the following:
 
A. Signing memorandum of sale. Auctioneer may sign any memorandum of sale on behalf of and in the name of seller, or in auctioneer's own name, in connection with the sale of seller's property.
 
B. Receipt of deposit from buyer. Auctioneer may receive a deposit from any buyer of [percentage of deposit]% of the purchase price immediately after the sale is consummated. If any such buyer fails to pay such deposit, auctioneer or seller shall have the right to exercise any of the remedies given to a seller of goods by [citation of Uniform Commercial Code].
C. Employment of help. Auctioneer may employ any assistance deemed necessary to carry on the sale and to deliver seller's property to buyers at the auction sale. Seller shall bear the cost of all such assistance employed by auctioneer.
 
 
SECTION 5. DUTIES OF SELLER
 
A. List of creditors. Seller shall furnish auctioneer, on or before [date of presentation], a list, subscribed and sworn to or affirmed by seller, containing the names and business addresses, so far as known, of all creditors of seller, and the amounts respectively due each creditor. Seller shall also furnish the names of all persons known to seller who have or assert claims against seller even though such claims are in dispute. Such list shall be preserved by auctioneer for a period of [number of months] months after the auction sale, and shall be open to inspection and copying by creditors of seller, or shall be filed in [specification of government office].
 
B. Past business names and addresses of seller. Seller shall furnish to auctioneer not later than [date of presentation], a list of all the business names and addresses used by seller within the past [number of years] years.
 
C. Cooperation with auctioneer. Seller shall cooperate with and further the interests of auctioneer in performing [his/her] duties under and pursuant to this agreement as required by law and by this agreement, and shall refrain from doing any act that would tend to interfere with auctioneer in performing such duties.
 
 
SECTION 6. AUTHORITY OF SELLER
 
Seller reserves the right to control the conduct and enforcement of the auction as follows:
 
A. Withdrawal of property and discontinuance of sale. Seller may require auctioneer to withdraw any or all of seller's property before the auction sale. Seller may also require auctioneer to discontinue the auction sale, provided notice of discontinuance is given to auctioneer on or before the time of the sale.
 
B. Bids. Seller may prescribe the mode of bidding at the auction sale. Seller may provide that no bid less than the reserved price for the particular item shall be considered. Seller may provide that bids may be entered in person, in writing, by telegram, or by telephone. Seller may bid at the auction sale. Seller may require that seller's property shall be sold only to the highest bidder. Seller may reject or confirm bids.
 
C. Method of payment. Seller may prescribe the method of payment by buyers of seller's property at the auction sale, and may require that auctioneer shall collect and any such buyer shall pay a deposit of [percentage of deposit]% of the purchase price immediately after the sale is consummated, in cash or certified check. Seller may prescribe that the balance must be paid to seller [number of days] days from the date of sale, in cash or [medium of payment], otherwise, seller will retain the deposit as liquidated damages and resell the property.
 
D. Disputed bids. Seller may require auctioneer to resubmit seller's property to competitive bidding if a dispute arises concerning any such bid.
 
E. Warranties. Seller may give any warranty as to quality or description of seller's property that seller may deem appropriate.
 
 
SECTION 7. COMPENSATION
 
A. On property sold. Seller shall pay auctioneer $[dollar amount of payment] for performing auctioneer's duties under and pursuant to this agreement. In addition, seller shall pay auctioneer [percentage of payment]% of the total amount realized from the sale of seller's property under and pursuant to this agreement.
 
B. Unsold or withdrawn property. Seller shall pay auctioneer [percentage of payment]% of the reserve price of all properties remaining unsold or withdrawn from sale, as commission.
 
C. On discontinuance of sale. Seller shall pay auctioneer $[dollar amount of payment] if seller discontinues the auction sale.
 
D. Retention or payment of compensation. Auctioneer may retain the compensation due and payable as provided in the preceding paragraphs of this agreement from the proceeds of the sale or the deposits required of buyers under this agreement. If such amounts are insufficient to pay auctioneer, seller shall pay auctioneer the compensation due under this agreement within [number of days] days of the auction sale.
 
 
SECTION 8. EXPENSES
 
Seller shall, in addition to auctioneer's compensation provided in this agreement, pay for the following expenses of the auction sale: (1) advertising; (2) delivery of seller's property to auctioneer; (3) delivery of seller's property to buyers at the auction; and (4) compensation of persons assisting auctioneer in conducting the auction sale. Auctioneer may advance the cost of the items. Auctioneer may deduct the expenses from the proceeds realized from the sale of seller's property. If the proceeds are insufficient to cover the expenses, seller shall pay them to auctioneer within [number of days] days from the date of the auction sale.
 
 
SECTION 9 ENTIRE AGREEMENT
 
This agreement constitutes the entire agreement between the parties, and any prior understanding or representation of any kind preceding the date of this agreement shall not be binding on either party except to the extent incorporated in this agreement.
 
 
SECTION 10. MODIFICATION OF AGREEMENT
 
Any modification of this agreement or additional obligation assumed by either party in connection with this agreement shall be binding only if in writing signed by each party or an authorized representative of each party.
 
 
SECTION 1. GOVERNING LAW
 
This agreement shall be governed by, construed, and enforced in accordance with the laws of [name of state].
 
 
SECTION 12. ATTORNEY'S FEES
 
If any action is filed in relation to this agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney's fees.
 
 
SECTION 13. ASSIGNMENT OF RIGHTS
 
The rights of each party under this agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.
 
 
SECTION 14. SECTION HEADINGS
 
The titles to the sections of this agreement are solely for the convenience of the parties and shall not be used to explain, modify, simplify, or aid in the interpretation of the provisions of this agreement.
 
Each party to this agreement has caused it to be executed at [place of execution] on the date indicated below.
 
Dated: [date of signing]
 
___________________
 
___________________
 

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