PP 002                                                                                                                                              Effective July 19, 2024

Welcome! Thank you for choosing The Round Rack.  Please take your time to read the agreement before signing, and ask if you have any questions!

Pricing & Payments

-New accounts require a one time $5 set up fee, which will be deducted from your initial account balance.

-The Round Rack sets the price of each item, but you can be sure you’re getting a fair price. We do thorough research on the products we sell, based on condition and current market value. As a guideline, prices are typically based around ⅓ of the retail price, or ½ to ¾ of retail for luxury/high end pieces. You will receive an email with an itemized list once your items are entered into the system. We do not price on the spot.

-The consignor receives a percentage of the final selling price, which immediately credits that account. We use a tiered split system as follows:

< $29 -30%

$30 - $199 - 40%

$200 - $799 - 50%

>$800  - 60%

-All pricing may be subject to markdowns, made at the discretion of the staff.

-Consigned items will spend a minimum of 60 days on the sales floor, unless otherwise notified. We conduct quarterly end-of-season clearance sales each year. Your items will not be included in these sales unless they’ve already been on the sales floor at least 60 days. 

-You will be notified by email about any items pulled from the sales floor. Once notified, you have 3 business days to reclaim your items from the shop or they will be subject to donation.

-Consignors can set up and access their account online on TheRoundRack.com, using the name and email address provided on this form. This is for the convenience of checking sold items and transactions. 

-Consignors can request a payout anytime, in store. Alternatively, credit may be used toward in store purchases. Payment is issued electronically via a 3rd party ACH service and a $2 fee is deducted from your balance to cover the transaction charge. Balances under $20 can be issued in cash. 

-The Round Rack reserves the right to store your items in off-season inventory without access permissions

-The consignor remains the rightful owner of items while on consignment, until they are sold. However, habitually withdrawing or reclaiming active items from the sales floor may result in a dissolution of the business relationship with The Round Rack.

We do everything within our power to safely secure your items during and after business hours, but merchandise is left at the consignor’s risk. The Round Rack does not accept liability for loss, damage, and theft.

Authentication:

I acknowledge and agree that the sale, distribution, or resale of counterfeit handbags and luxury goods is strictly prohibited within the jurisdiction of Massachusetts. 

I hereby guarantee that all items consigned under this agreement are authentic and genuine. I warrant that I have full legal ownership of the consigned items and have the authority to enter into this consignment agreement. 

In the event that any consigned item is found to be counterfeit or inauthentic, the consignor shall be liable for any costs incurred to the consignee, including but not limited to legal fees and compensation to affected parties, and/or the reimbursement of authentication fees.

By signing, I acknowledge that I have read and agree to all the above current terms and conditions of this Consignment agreement. The Round Rack reserves the right to change policies (including new percentage splits) at any time. The change would affect items consigned in the future, upon a new signature/agreement to the new policies.  Thank you again for partnering with The Round Rack, we value your business and your trust!