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AUCTION247 LTD
MASTER TERMS & CONDITIONS (BUYERS)
November 2025 – Trading Standards Edition

Auction247 Ltd
124 City Road
London
EC1V 2NX
United Kingdom

24-Hour Helpline: 0871 671 0087
All calls may be recorded for evidential, compliance and security purposes.

If you have any doubt regarding any Lot, reserve price, fees, delivery terms or condition, you must contact Auction247 Ltd prior to bidding. The helpline operates 24 hours a day, 7 days a week.

By placing a bid, you confirm that you have read, understood and agree to be legally bound by these Terms & Conditions.

1. DEFINITIONS

1.1 “Auctioneer” means Auction247 Ltd.
1.2 “Buyer” means any person or entity placing a bid.
1.3 “Vendor” means the seller of a Lot.
1.4 “Lot” means any item offered for sale.
1.5 “Hammer Price” means the final accepted bid.
1.6 “Buyer’s Premium” means the additional percentage payable in addition to the Hammer Price.

2. BUSINESS-TO-BUSINESS STATUS

2.1 All auctions are conducted strictly on a Business-to-Business (B2B) basis unless expressly confirmed otherwise in writing.

2.2 By placing a bid, the Buyer warrants that they are acting in the course of trade, business or profession.

2.3 Consumer legislation shall not apply unless expressly confirmed in writing by Auction247 Ltd.

2.4 If any provision is deemed unenforceable by operation of mandatory law, the remaining provisions shall continue in full force and effect.

3. BINDING BIDS

3.1 All bids are legally binding and irrevocable.

3.2 A legally binding contract is formed only when the Auctioneer accepts a bid as the Hammer Price.

3.3 Failure to honour a winning bid constitutes breach of contract and may result in recovery action, re-sale of the Lot, and recovery of associated costs.

4. TIMED AUCTIONS & RESERVES

4.1 The Auctioneer reserves the right to:
(a) Accept a bid prior to the published end time;
(b) Reduce or remove a reserve;
(c) Withdraw a Lot;
(d) Conclude a Lot before the published end time where commercially appropriate.

4.2 No contract is formed until formal acceptance of the Hammer Price.

4.3 The Auctioneer may correct administrative or technical errors relating to reserves.

4.4 The Auctioneer shall not increase a reserve in a manner that would constitute unfair or misleading conduct.

5. PAYMENT

5.1 Auction payments must be made by bank transfer unless otherwise agreed in writing.

5.2 Title to the Lot shall not pass until cleared funds are received.

5.3 Payment confirms unconditional acceptance of the Lot, subject only to mandatory legal rights.

6. PREMIUMS, FEES & CHARGES

6.1 A Buyer’s Premium applies to all Lots as advertised.

6.2 VAT shall apply where required by law.

6.3 All invoiced charges form part of the binding contract.

6.4 Nature of Buyer’s Premium
The Buyer’s Premium represents consideration for auction services including marketing, catalogue production, listing, platform hosting, administration, compliance checks, vendor coordination and transaction facilitation.

6.5 Premium Earned Upon Fall of Hammer
The Buyer’s Premium is earned in full immediately upon the fall of the hammer (or timed auction close) and is not contingent upon subsequent satisfaction, resale value, authentication outcome, inspection after dispatch or third-party opinion.

6.6 Non-Refundable Charges
Except where required by law, the following are non-refundable:
• Buyer’s Premium
• Platform fees
• Administrative charges
• Card processing fees
• Handling charges
• Storage fees
• Pallet handling charges
• Investigation or dispute costs

6.7 Refund Limitation
Where Auction247 Ltd, at its sole discretion, agrees to issue a refund, such refund shall be limited strictly to the Hammer Price only. Buyer’s Premium and additional charges shall remain non-refundable.

A discretionary refund does not constitute admission of liability.

7. DELIVERY, FULFILMENT & BUYER RESPONSIBILITY

7.1 Auction247 Ltd may use independent third-party fulfilment providers.

7.2 A minimum handling charge of £20 plus postage applies.

7.3 After payment of the Hammer Price, the Buyer is solely responsible for arranging and paying delivery charges.

7.4 Auction247 Ltd is not responsible for chasing Buyers regarding delivery arrangements.

7.5 Delivery arrangements must be made within seven (7) calendar days of invoice.

7.6 If delivery is not arranged within seven (7) days:
(a) Storage fees may accrue;
(b) The Lot may be re-entered into auction;
(c) The Lot may be treated as abandoned without refund of the Hammer Price.

7.7 Risk transfers to the Buyer upon handover to the fulfilment provider or carrier.

7.8 Except where required by law, Auction247 Ltd bears no liability for delay, loss or damage after dispatch.

8. STORAGE & ABANDONMENT

8.1 Storage fees may apply after seven (7) days.

8.2 Storage shall be charged at a commercially reasonable rate.

8.3 Auction247 Ltd may re-offer or dispose of abandoned Lots.

8.4 No refund shall be due where abandonment arises from Buyer failure to arrange delivery.

9. CAVEAT EMPTOR

All Lots are sold as-is and as-described. Buyers must conduct independent due diligence prior to bidding.

10. HIGH-VALUE WATCH & BRANDED TIMEPIECE ADDENDUM

10.1 This clause applies to watches, chronographs and branded timepieces.

10.2 Auction247 Ltd makes no representation or warranty as to authenticity unless expressly stated in writing.

10.3 Auction247 Ltd is not an authorised dealer of any manufacturer unless confirmed in writing.

10.4 Buyers must conduct independent authentication and verification prior to bidding.

10.5 Unless expressly stated, only visual inspection is undertaken and no internal examination is conducted.

10.6 In the event of an authenticity allegation, the burden of proof rests entirely with the Buyer and must be supported by formal written verification from an authorised manufacturer service centre or court-recognised independent expert.

10.7 Any remedy, if agreed, shall be limited strictly to the Hammer Price only in accordance with Clause 6.7.

11. REFUNDS & CREDIT NOTES

11.1 Refunds are not automatic and are issued solely at the discretion of Auction247 Ltd, except where required by law.

11.2 Approved remedies may be issued as credit notes.

11.3 Credit notes constitute full and final settlement unless mandatory law requires otherwise.

12. PLATFORM POSITION

12.1 Third-party platforms operate as hosting providers only.

12.2 The contract exists solely between Auction247 Ltd and the Buyer.

12.3 Platforms have no authority to vary these Terms.

13. LIMITATION OF LIABILITY

Except in cases of fraud, deliberate misrepresentation or where prohibited by law, Auction247 Ltd’s total liability shall not exceed the Hammer Price paid for the relevant Lot.

Auction247 Ltd shall not be liable for indirect or consequential losses.

14. GOVERNING LAW

These Terms & Conditions are governed by the laws of England and Wales.