CONTRACT INFORMATION

All items accepted for consignment at Grand Central are listed on a contract, which lists each item and shows you the selling prices for that item. You are assigned a contract number and that number will always be “your” contract identification. Contracts are valid for a three month time period. Items are priced at full price (determined by Grand Central) for one month from the starting date of the contract. If doesn’t sell in the first month, it is reduced by 25% for the second month. For the third month, all remaining items are 50% of the original price.

You will receive 40% of the selling price regardless of what month the items sells. After the first month of the contract if the payout amount is $150.00+, a cheque will be mailed to you. If the amount due is less that $150.00, it will be held. You may use any balance on your account as a credit towards a purchase in the store. At the end of the three months, unsold items are removed from the floor & packaged. We will contact you to let you know the contract has expired. You have two weeks from that date to let us know if you want to pick them up or donate – if we do not hear from you within two weeks, the unsold items become the property of Grand Central Consignment to donate to a charity of our choice or dispose of at our discretion.