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AUTHORITY AGREEMENT
TO STAR OF TEXAS AUCTION
ALBERT HADDAD – AUCTIONEER
TO SELL GOODS BY PUBLIC AUCTION
 
      I, the undersigned hereby agree by execution hereof, to authorize STAR OF TEXAS AUCTION, ALBERT HADDAD – AUCTIONEER, to sell on my behalf, by public auction, the several lots and items of merchandise described in the catalogue annexed hereto for all intent and purposes, subject to the potential sale of said merchandise at the respective prices therein specified, but I understand, that there is NO RESERVE except for the three highest priced pieces listed in the annexed catalogue, which shall be placed on RESERVE as per the listed price in said catalogue, and that all other merchandise described in said annexed catalogue may be sold for any price which is the highest bid at the time and place of the public auction.
 
      Furthermore, the Auctioneer described herein shall have the authority to receive the purchase money on my behalf, and distribute the monies to me after he deducts his twenty percent (20%) commission/premium/fee from any monies received from the sale of the merchandise sold on my behalf at said auction. Furthermore, I also agree to allow the Auctioneer described herein to deduct from any monies received from the sale of the merchandise sold on my behalf at said auction an additional __________________ percent ( %) commission/premium/fee from any monies received from the sale of the merchandise sold on my behalf at said auction costs expended by Auctioneer related to the advertising of my merchandise, printing of catalogues or flyers, cleaning and prep of said merchandise, and moving of said merchandise. If the undersigned, after signing the agreement prior to auction and requests his merchandise to be returned to him, the undersigned agrees to pay in addition to the _______________ percent ( %) described in this paragraph, but shall also pay a penalty of twenty percent (20%) of the prices stated in said catalogue, plus all moving, storage and personnel fees, which cost for same has been given to me before my execution of this agreement of authority by said Auctioneer.
 
      If any of my merchandise described in the annexed catalogue shall remain unsold, with or without reserve, I understand and agree that I have five (5) days to regain possession of said property on my own, and if said merchandise is not removed on or before the expiration of said time limit, the undersigned will assess a daily storage charge of $10.00 per piece of merchandise until moved, or until the next auction held by the Auctioneer described herein, at which time the Auctioneer has my express authority to again sell the unsold merchandise without reserve, and if said merchandise is sold or remains unsold, the above terms and conditions as to deductions for auctioneers commissions/premiums/fees and all moving, storage and personnel fees, shall be assessed and paid to Auctioneer as per the terms and conditions herein described. This agreement of authority is only valid if signed and dated by all parties, and further, only if a valid catalogue describing the merchandise to be sold by Auctioneer on my behalf is annexed hereto for all intents and purposes.


 
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