Consign: To give over to another's care

If you've decided you want to sell your motorcycle, you may want consider the benefits of consigning it to sell. If you run an ad in the paper, or one of the numerous "Trader" type magazines, you will personally have to field every call, answer the same types of questions over and over, have strangers come to your home or workplace, and negotiate your selling price. Some people find this "invigorating", most find it very uncomfortable. You do have an option. 
Consign your bike to us and we'll handle all of that, and more, for you. Moto Depot Limited is your choice.

  1. How does consignment with Moto Depot Limited work?

    A seller contracts with us to consign their motorcycle. Photos are taken and a complete description of the vehicle is posted on our website www.motodepot.hk Advertising is also done in Best Buys Magazine, Hot website for bikers, and on Facebook. Buyers come in or contact us to view the motorcycle. No road tests are ever allowed due to insurance requirements.  
    We do all the negotiating with the buyer based on the seller’s limits. When a price has been agreed upon, we handle all the paperwork for both seller and buyer.  We then pay the seller the purchase price, less fees/commission.  

  2. How much is your commission and what other fees do you charge?

    Moto Depot Limited currently charges a 7.5% commission on the selling price or a flat fee of HK$5,000 for each bike. We consider the higher one. There is an Administrative fee of HK$3,000 due upon signing up. When the consigned motorcycle is sold within the initial contractual period, HK$2000 will be returned to the Consignee. 

    The Administrative fee covers:

    •    Showroom Prep on bike and continued maintenance until bike is sold or
         contract has ended.
    •    Document Preparation
    •    Placement on our website (www.motodepot.hk)
    •    Multi-point safety inspection

    Other fees that may apply are on seller’s account (i.e. non-current or missing registration, lost title, lost sticker, un-cleared citations, etc), seller approved repairs, special “flooring” arrangements.

  3. How long is the contract?

    The length of the contract can be negotiated, however the standard is 90 days. With a fair price and advertising, most motorcycles will sell sooner than that. 

  4. How many bikes are in your Showroom?

    Moto Depot Limited can “floor” up to 60 motorcycles at any one time and floor space is on a “first come, first served basis”.  

  5. What if you don’t have room for my motorcycle in the Showroom?

    If at any time we can not accommodate your motorcycle in our Showroom, we will add your name to the stand by list and you will be contacted as soon as space is available.

  6. Will Moto Depot Limited advertise my motorcycle?

    Every effort is made to provide maximum buyer exposure on every motorcycle we consign. 
    We can’t guarantee that your motorcycle will sell, but we can guarantee that we will make every effort to make that happen.

  7. What information do you need when I consign?

    When you consign your motorcycle to us, you will be asked about the history of the bike. Certain things, by law, must be disclosed to a buyer such as whether the motorcycle is a salvage, previously a rental or law enforcement motorcycle, flood/fire/ frame damaged motorcycle. Having a written service history is not required, but is suggested, as it is proof that your motorcycle has been well maintained.

    We will need to know the price you want your bike listed at and the lowest price you will accept. If the bike is currently financed, we will need the lien holder’s name and phone number and your account number with them. We will need to see and verify title/registration and insurance on the motorcycle. The person(s) whose name(s) are on the title must both sign the consignment agreement unless titled ‘or’ (ie John or Mary Smith, not John and Mary Smith).

  8. What if I decide to lower the asking price?

    Simply fax/mail/bring us a signed letter requesting that we lower the price. If we receive this request via fax or mail, we will call you to verify the change prior to making the change.  

  9. What happens when I bring my bike in?

    We will inspect the vehicle as a buyer would – from front tire to brake light and everything in between.

    Although test rides are not allowed by potential buyers, the motorcycle will be taken for a test ride to verify its condition and road-worthiness.  

    All Moto Depot Limited test riders have valid “Trade license”is insured.

    *    We will make suggestions that may improve the salability of the motorcycle (repairs/maintenance). 

    *    We can suggest an asking price, but you will have the final decision.

    *    You will fill out and sign the Consignment Agreement, provide a copy of the bike’s registration and your ID / Passport copy.

    *    Photos will be taken and posted on our website along with a description of the bike.

    *    We will perform a Multi-Point Safety Inspection on your vehicle – if any problems are discovered during the inspection, we will notify you.

    We make every effort to get your bike posted on the website within one week of listing with us

  10. What happens when my bike sells?

    When your bike is purchased, we do all the paperwork necessary to transfer ownership to the buyer. When the sale is completed, we will let you know so you can cancel your insurance.You will receive the proceeds from the sale, less our commission and any repairs or fines, within 20 days of the completed sale. Most people receive their check within 10 days…the exception usually occur when a payoff is made to a lienholder.  We have to wait until the lienholder sends us the cleared title in order to complete the sale.

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