Buying Terms and Conditions
1. The client buying agreement starts on the day that items are dropped off at Studio61, 61 West Street, North Sydney, NSW 2060.
2. Maximum of 12 items per buying batch.
3. A drop-off form must be completed by the client listing all items in the drop off batch.
3. Studio61 shall be responsible for any loss of or damage to merchandise while it is under Studio61’s control.
4. Studio61 staff will look through client’s items within 3 days of drop off and will inform client by SMS or email of average selling price of each approved item. The client must reply with an agreement to proceed or not to proceed with either store credit or purchase (buy outright).
5. Unapproved items must be collected within 3 days of agreement.
6. Merchandise shall remain the property of the client until the agreement is made or items are collected. As soon as the agreement is made, Studio61 takes ownership of the approved merchandise and client agrees that Studio61 can sell the merchandise straight away.
7. Studio61 will offer money (as bank transfer within 7 days) or store credit (valid for 6 months) at the payout rates listed below. Our decision to offer buy-outright or store credit will vary week to week depending on market forces.
All store credits are final and cannot be converted to a buy-outright payment.
8. Unapproved items must be collected before the payout is made. Bank transfer payment terms are strictly 7 business days from agreement date. In this time Studio61 will carry out a thorough QC inspection and steam cleaning. If items are found to have damage, they will be returned to the client and the payment or store credit agreement will be updated.
9. Studio61 will arrange for the marketing, sale and distribution of merchandise.
10. Client agrees that Studio61 may at its discretion, increase the advertised selling price from the proposed selling price by up to 20% to allow for sales or discounts to achieve the proposed retail selling price.
11. Studio61’s payout rates for bank transfer are strictly 25% of target retail selling price.
12. Studio61’s payout rates for store credit are strictly 50% of target retail selling price.