Consignor Terms

Consignor agrees that the Auction shall be conducted online by Marc Langston Rare Coins (referred to as MLRC) according to the Terms & Conditions noted on our website. This agreement is subject to Arbitration.

Consignor warrants that (1) consignor is the legal owner of and has full title and interest in the coin(s) consigned to MLRC; (2) all coin(s) consigned to MLRC are fee and clear of any encumbrances, security interests, or contract rights restricting the unconditional right to sell all rights, title, and interest in and to such coin(s); (3) all consigned coin(s) are authentic and holders have not been tampered with or resealed.

Consignor agrees to pay MLRC a listing fee for each coin(s) offered by the Auction and for coin(s) sold, a seller’s fee.  Al fees are detailed on the consignment agreement.

In the event your coin(s) do not sell in the first auction, MLRC agrees to relist coin(s) up to three additional times.  There will be no listing fees for the three additional relistings.  If you do not want your coin(s) relisted, please not so in the “special instructions” section of the consignment form.

Consignor acknowledges that the Hammer price is the final bid price accepted by the Auctioneer.  The Hammer price does not include the Buyer’s Fee which MLRC retains in full.

MLRC has the sole right to reject any consignment, to cancel any Auction, to postpone or change the date/time of Auction and/or rescind any sale.  MLRC also has the sole right to cancel or reject any bidder from bidding when we believe that it is not in the Consignor’s and/or MLRC’s best interest.

A consignor is able to list a Minimum bid on every coin(s) consigned, according to the three options noted on consignment form. It is up to the consignor to verify that the minimum bids are entered as soon as their coin(s) are uploaded to the MLRC website. Any corrections should be reported as early as possible before auction ends. The minimum bid amount is disclosed on all coin(s) listed at MLRC. Consignor may not withdraw any coin(s) for any reason.

If the successful bidder or buyer is in default and MLRC is not satisfied that the amount due for any particular Consignor’s lot(s) will paid in full, MLRC reserves the right to take one or more of the following actions:  (1) declare the sale null and void and return the coin(s) to the consignor; (2) declare the sale null and void reoffer the coin(s) in another Auction; and/or (3) proceed against buyer on behalf of Consignor.  In addition, MLRC offers a return privilege to buyers. Should your coin(s) be returned, we will cancel the sale and relist your item(s).  In the event that MLRC cancels the sale of your coin(s) or your coin(s) are returned, all listing fees and seller’s fees will be refunded to Consignor.

MLRC shall remit to Consignor within 30 days after close of the Auction the net proceeds which equal the Hammer price less seller’s fees, listing fees, and any other monies owed to MLRC.  In the event that the Consignors sales do not exceed fees or monies owed to MLRC, the Consignor agrees to pay MLRC all monies owed within 7 days of invoice date.

Any claim or dispute arising out of the sale of coins by MLRC shall be settled by arbitration between the parties in accordance with the rules of the American Arbitration Association (AAA).  Any claim pertaining to this agreement and/or Auction must be commenced within three months of the Auction or the claim is waived.

This contract is the entire Agreement  between the parties and supersedes all prior Agreements.  The warranties and representations contained in this agreement survive the date of execution by each party herein and the performance of all terms and conditions contained in this agreement.  This Agreement shall be governed by the laws of the State of Oklahoma.