Car auctioneer fined over selling on consignment (Gregsons Auctioneers & Valuers Pty Ltd)
A Welshpool car auction company and its Director have been fined a total of $3,000 for breaking laws related to the selling of vehicles on consignment.
Gregsons Auctioneers & Valuers Pty Ltd and Director Jonathan Paul Gregson were also ordered by the Perth Magistrates Court to pay costs of $532 each on 15 February 2012.
Consumer Protection told the Court that, in November 2010, the company had sold a vehicle on behalf of its owner at auction without a written consignment agreement being signed. Proceeds from the sale were deposited into the company’s general business account instead of a trust account. Both actions were in breach of the Motor Vehicle Dealers Act.
Acting Commissioner for Consumer Protection Gary Newcombe reminded dealers who deal in consignment sales to have a dedicated trust account and written agreement in place before they sell a private vehicle.
“The laws surrounding the selling of vehicles on consignment are designed to protect the interests of both sellers and buyers,” Mr Newcombe said.
“The laws ensure that dealers who sell vehicles on consignment keep proper records of the transactions and the proceeds are accounted for separately to other sales.”
Further information on selling vehicles on consignment can be provided by calling 1300 30 40 54 or email: email@example.com.
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Alan Hynd 9282 0961 or 0429 078 791 firstname.lastname@example.org
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