How does consignment work with Ancient City Cycles work?
A seller contracts with us to consign their motorcycle. Photos are taken and a complete description of the vehicle is posted on our website: www.Ancientcitycycles.com. Advertising is also done in many venues. Buyers come in or contact us to view the vehicle. We do all the negotiating with the buyer based on the seller’s limits. We then pay the seller the purchase price, less fees/commission.
How much is your commission and what other fees do you charge?
Ancient City Cycles currently charges 10% commission of the selling price of the motorcycle. We also do a safety inspection and full detailing on every motorcycle before we put it up for sale. The cost of $140.00 due upon the signing of the contract, this is non-refundable
Our services include:
- Showroom Prep, until bike is sold or contract has ended.
- Placement on our website (www.Ancientcitycycles.com)
- Multi-point safety inspection
- Guaranteed placement on Showroom Floor for the length of the contract
- We also advertise on several websites for maximum exposure.
Will Ancient City Cycles advertise my vehicle?
Every effort is made to provide maximum buyer exposure on every vehicle we consign.
We can’t guarantee that your vehicle will sell, but we can guarantee that we will make every effort to make that happen.
What information do you need when I consign?
When you consign your vehicle to us, you will be asked about the history of the bike. Certain things, by law, must be disclosed to a buyer such as whether the vehicle is a salvage, previously a rental or law enforcement vehicle, lemon law vehicle, flood/fire/frame damaged vehicle. Having a written service history is not required, but is suggested, as it is proof that your vehicle has been well maintained.
We will need to know the price you want your bike listed at and the lowest price you will accept. If the bike is currently financed, we will need the lien holder’s name and phone number. We will need to see and verify title/registration and insurance on the vehicle.
What if I decide to lower the asking price?
Simply fax/mail/bring us a signed letter requesting that we lower the price. If we receive this request via fax or mail, we will call you to verify the change prior to making the change.
What happens when I bring my bike in?
We will inspect the vehicle as a buyer would – from front tire to brake light and everything in between.
Although test rides are allowed with owner consent, by potential buyers. The vehicle will be taken for a test ride to verify its condition and road-worthiness. All Ancient City Cycles test riders have valid Florida Drivers’ licenses with a Motorcycle endorsement and are insured.
- We will make suggestions that may improve the saleability of the vehicle (repairs/maintenance).
- We can suggest an asking price, but you will have the final decision.
- You will fill out and sign the Consignment Agreement, provide a title and please give any history, accessories, maintenance records.
- Photos will be taken and posted on our website along with a description of the bike.
- We will perform a Multi-Point Safety Inspection on your vehicle – if any problems are discovered during the inspection, we will notify you.
- We make every effort to get your bike posted on the website within one week of listing with us
What happens when my bike sells?
When your bike is purchased, we do all the paperwork necessary to transfer ownership to the buyer. When the sale is completed, we will let you know so you can cancel your insurance. You will receive the proceeds from the sale, less our commission and any repairs or fines, within 20 days of the completed sale (per DMV regulations). Most people receive their check within 10 days… the exceptions usually occur when a payoff is made to a lienholder. We have to wait until the lienholder sends us the cleared title in order to complete the sale with the DMV.
Sale Conditions of Consignment Agreement:
The consignment fee is equal to 10% of the selling price, which will be deducted from the owner’s proceeds. It is at the discretion of Ancient City Cycles to refuse to enter into this contract if it is determined that the owner’s requested price is too high for the unit. Retail price shall de be determined by NADA retail value. Any price above retail shall be justified by valuable upgrades. Any offers made that would result in below owner’s asking price will be discussed with the owner before a deal is made with the potential buyer.
NOTE: No outside sales allowed during the consignment period. All potential buyers must be through Ancient City Cycles. The bike may not be removed from Ancient City Cycles by the owner until the end of the contract. If the owner does remove the bike the contract is considered void as of the day the bike is removed.
Cancellation of Contract: If the owner decides to cancel this contract within the three month period, the $125.00 will not be refunded or pro-rated. Any repairs not previously paid for must be paid before bike is removed.
Length and Term and Flooring Fees: “flooring refers to time on the showroom floor, detailing and advertising fees.
The term of this contract is three (3) consecutive months from the date contract is signed. If the unit does NOT sell by the end of the three (3) month contract term the customer will be asked to pick up the unit within three (3) working days of the last day of the contract. From the 4th day a storage fee of $5.00 per day will be incurred and payable before the unit is released.
If the owner and Ancient City Cycles choose to enter into a new three (3) month contract all previous flooring fees are not-refundable. If a new contract is drawn the seller will be charged $80.00 for flooring and advertising for the new contract.