After we examined the items and they are accepted as a consignment, we will make a Consignment Agreement with you.
- Consignment Prices: Prices must be agreed between you and Tokio7.
- Consignment Period is 90 days. After 30 days of consignment with us, the Price shall be reduced by 20%, and after 60 days of consignment with us, the Price shall be reduced by 50%.
- After your items have sold, 50% of the selling price of the item will be posted to your account. Tokio7 retains 50% of the actual Selling Price as its Commission.
- Please pay full attention to the consignment period by yourself. Since we have received several thousand consignment items, we cannot keep track of all those consignment account. After your consignment agreement period has expired, Tokio7 will do our best to notify you of what unsold items are left and ask you how we can handle of these unsold items. We cannot keep track of all the consignment items, and it is not our responsibility to let you know of the expiration of consignments. It is your responsibility to reclaim your consignment items. Please instruct us if we should return those items to you with mailing fees, or when you can come pick up the items. There is the option to also have us donate those items to any charity, or if we can dispose them as a we wish. Any items not picked up, or left with any instruction of how we can handle unsold items after 7 days of the expiration of the consignment terms, the items shall be deemed abandoned and become the sole property of Tokio7 without further notice to you and without any compensation to the consignor.
- Consignors will be paid by check only. The payment for sold items will be calculated at the end of each month and we will mail you a check after the following month. Since we have many active consignors, we will not send any account statement nor notify consignors in regard to balances. You may check status of your consignment and balance of account by checking in your “consignor log in” page of the Site, www.tokio7ny.com.