Typical cost of selling via consignment?
Just wondering about the cost of having a consignment place sell a Class A motorhome. Is there a base $ amount or a percentage they charge?
Forum Discussion
mich800 wrote:T18skyguy wrote:
The language used was "all property on the defunct business is assigned to the lienholders"
That sounds like part of a financing statement or collateral agreement. There is way too much missing in that statement to mean anything. The biggest being what consideration was given to transfer ownership. They may have actually sold the unit to the dealership and they agreed to payment after they get paid but that is not consignment that is a sale. In that case they are an unsecured creditor.
There we're 30 of them, and they we're on consignment for sale. I actually knew one of the individuals. I know that the dealership was hundreds of thousands in debt. Perhaps they declared bankruptcy. They closed and chained the gates and not a single owner was allowed on the property. They lost their rigs. I'm not a lawyer, so you guys tell me how that could happen. One other thing I remember, is the rig owners had a legal right to get paid, but it all went to satisfy the senior lien holders, and there was nothing left in the kitty after the seniors got paid.
