Sample Personal Property Auction Agreement

This sample agreement outlines the general terms Grindstaff’s Auction Marketing Group LLC uses when selling personal property at auction. It is provided so estate representatives, business owners, and individual sellers can understand how our personal property auction relationships are structured.

The sample is for informational purposes only. Each signed agreement is customized for the specific project, timeline, and assets involved. Nothing on this page should be taken as legal advice. We encourage sellers to review the agreement with their own attorney if they have legal questions.

What This Sample Agreement Covers

• Exclusive authority for Grindstaff’s to market and sell the personal property at auction, including how items may be grouped, lotted, or withheld from sale.
• Whether the auction is absolute or with reserve and how seller bidding, if permitted, is handled.
• Commission structure, reserve or no sale fees if applicable, buyer’s premium, and which party is responsible for costs and expenses such as advertising, signs, labor, or credit processing fees.
• Seller’s representations and warranties about ownership, clear title, accuracy of descriptions, and condition of the property.
• Seller obligations, including not withdrawing property, handling taxes and liens, and what happens if the seller defaults or interferes with the sale.
• How absentee bids, payment collection, returned checks, credit card processing fees, and charge backs are treated.
• Allocation of risk for theft, damage, or destruction of property before and during the auction, as well as responsibility for unsold property and clean up.
• Indemnification, governing law, venue, and other standard legal provisions.

All personal property seller agreements are completed electronically using DocuSign, allowing sellers to review and sign auction contracts quickly and securely from any device.

Download the Sample Personal Property Agreement

You may download and review the full sample agreement in PDF format. Your actual agreement will reflect the details of your specific auction project, including commission rates, fees, and timelines.

Download Sample Personal Property Agreement (PDF)

File format: PDF. You may review this sample yourself and share it with your attorney or advisor.

Next Steps For Estate And Asset Sellers

If you are settling an estate, downsizing, closing a business, or selling equipment, tools, inventory, or collections, we can help you evaluate whether an auction is the right option and how these agreement terms would apply in your situation.

Start Your Auction

You can also contact us directly if you have questions about personal property auction agreements or upcoming projects.