check an see if your insurance covers you to sell on consignmant

Make sure you get a bank cheque or something where you get the proceeds and the agent gets the commission.

A few weeks ago there was a big case where a person was selling luxury vehicles on consignment but not paying the vehicle owner.

Something to consider is if the dealer selling your caravan goes bust, locks will be put on the property where your van is being sold on consignment immediately. This can mean you will have to go to court to get your caravan back.

The law regarding consignment sale of motorhomes differs from state to state.
In Victoria it is illegal.
Leither, I see you are from Queensland so I will give you the regulations for that state.

1) The dealer selling your motorhome must be licensed under the PAMD act (Property Agents and Motor Dealers Act) and must display his licence in a prominent position at his dealership.

2)The selling dealer must legally maintain an audited trust bank account through which all consignment funds must pass.

3) Not all dealers insurance policies cover consignment stock so ask that question. My advice maintain your current insurace cover untill your motorhome is sold.

4) Commission payable in Qld is 10% of the sale price plus GST.

5) If a dealer defaults on payment you may seek reimbursement from the Dealer Fund provided he is licensed.

6) The dealer usually pays all advertising costs out of his commission however all this is covered when the official PAMD paperwork is done at time of consignment.

When selling your RV you have three options.

1) Advertise and sell privately. By far the best option financially, but not always the easiest.
Living in a remote area will make it difficult to get lookers plus many buyers these days have trade ins or need finance plus many people don't want strangers knocking on their door.
On the other hand if you sell privately you will maximise your price.

2) Sell on consignment through a licensed dealer, already discussed.

3) Sell at wholesale price to a dealer, least palatable financially but the most convenient.
Get you money on the spot and move on.

GarrynLyn wrote:

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A couple of years ago, we had no response to ads when selling our caravan.  We then spoke to a local van yard about consignment.  He asked what we expected to get for the van, and we agreed on a set amount.

Two weeks later, the yard owner rang and said he had had an offer.  We were happy with it, and the deal was done.

I doubt we would have sold the van so quickly if we had just continued advertising it.  Incidentally, the van yard is at Moresby, FNQ.

 

Garry

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did you get what you were expecting ? was a scam a few years ago with a large car yard in Sydney that took cars on consignment would ring up an say they had an offer you accepted. turns out they were selling at one price paying the consigner a lower price (offer) pocketing the difference.


one of the main advantages to selling thru a dealer is that they can offer easy finance and usually prominent display