Master seller agreement
The auctionhood Auctions portion of the Site provides a venue and mechanism for you to offer for sale via auction and/or the “Purchase Now” option items of Property posted by you on the Site; and for bidders to bid for such items of Property in auctions conducted by you. As such, auctionhood is not a party to the actual transactions between buyers and sellers. Buyers are subject to the Master Buyer Agreement, but auctionhood has no control over individual transactions, and does not guarantee in any manner that a Buyer will complete any transaction.
Use of the auctionhood Auctions portion of the Site and the Services is limited to Buyers and Sellers that lawfully can enter into and form contracts under applicable law. Without limiting the generality of the foregoing, minors may not offer to sell or sell, or bid on or offer to purchase items of Property through the Site. Every Buyer and Seller who uses the Services hereby represents and warrants to auctionhood that he or she is not a minor, is at least over the age of eighteen (18) and may otherwise enter into and form binding contracts under applicable law. To register, you must provide your real name, address, phone number, e-mail address and valid credit card number, along with other information that may be required from time to time. Providing inaccurate registration information constitutes breach of this Agreement.
Use of the Site
You may list Property for sale at auction or via the “Purchase Now” option on the Site during the term of this Agreement, subject to the following terms and conditions:
- You will describe all Property offered by you truthfully and accurately. This includes text descriptions, images and pictures of each item of Property including, without limitation, its physical condition, age, authenticity, provenance, and any other relevant data. All known or suspected modification of the original Property, including damage or wear and tear to Property, must be photographed and such damage clearly disclosed on the Site. Additionally, the information in your listing must not be misleading, either through misstatement or omission.
- When posting Property for sale on the Site, whether in consultation with auctionhood personnel or not, you are responsible for establishing the pre-sale estimates (including both a “high” estimate and a “low” estimate for each item). For Property offered on the auction Site, the starting price (i.e., minimum initial bid price) will be set at no less than ten percent (10%) of the low end of the estimated value of the item (i.e. an item with an estimate of $1000-$1,500 shall have an initial bid of no less than $100). You may also establish a reserve for each item, but a reserve is not required. A reserve is the minimum acceptable hammer price at which the Property may be sold. It is the policy of the Site that in no case may the reserve exceed the posted low pre-sale estimate, and you agree to comply with this policy.
- You will adhere to the Property Policy and Listing Guidelines annexed hereto and such other policies and guidelines applicable to the Site as may be amended by us from time to time in our sole discretion.
- You are strictly prohibited from placing bids or causing bids to be placed on any item of Property for the purpose of artificially increasing or otherwise manipulating the bidding process on the Site or the bid price of any item of Property listed on the Site. auctionhood, in its sole discretion, may places bids on your behalf up to the amount of the reserve in order to generate interest in the lot and to protect the reserve.
- Once an auction is live, Seller may not withdraw or make any changes to the offer of his Property. If you become aware during the auction – for example that there are misstatements in the Property description – you must notify auctionhood promptly. auctionhood reserves the right, in its sole discretion, to terminate any auction that has commenced and re-offer the item with a revised description. If you do not want to re-offer the item of Property, auctionhood will be entitled to collect a Commission Fee (as defined below) as if the item of Property sold at the low estimate price.
- You are responsible for collecting and remitting all applicable taxes on the winning bid amount, Buyer’s Premium, and/or any other charges related to the lot at the rate and time required by the relevant law. It is your responsibility to determine whether any taxes apply to any sale transactions conducted by you through the Site and to collect, report and remit the correct tax to the appropriate tax authority. auctionhood is not obligated to determine whether sales or use taxes apply and is not responsible to collect, remit, pay or report any sales or use taxes arising from any such sale transaction. We have the right to withhold relevant tax amounts from any net sale proceeds due to you for the purpose of paying taxes on your behalf if required by law to do so. You must give us all relevant information about your tax status and that of the property. If we have to pay any taxes, duties, or other amounts to any tax authorities on your behalf or as a result of any information you give us under this paragraph being incorrect or due to your failure to complete any forms required by law, you must refund us the full amount and our related costs or expenses when we ask you to do so. You agree to indemnify and hold harmless auctionhood for any claim or liability arising from your breach of these provisions.
- You will complete the transaction(s) as described by this Agreement. You agree to honor the transaction contract. You will not fail to deliver an item for which payment was accepted, significantly misrepresent an item by not meeting the terms and Property description in the listing, or refuse to accept payment for an item at the end of a successful sale. You acknowledge that by not fulfilling these obligations, your action or inaction may be legally actionable.
- By offering Property on the Site, you agree that auctionhood may, at its sole discretion, elect to facilitate a transaction between Buyer and Seller by passing the transaction through auctionhood’s escrow. In such event, Buyer and Seller agree to complete the transaction in that manner. Any such election is at auctionhood’s sole discretion and under no circumstances shall auctionhood be required to offer its escrow services or be liable to any party if it refuses to do so.
- You will adhere to auctionhood’s Return Policy with respect to items of Property sold by you through the Site. You acknowledge that you have read the Return Policy and agree to cooperate with a Buyer who invokes the Return Policy, including refunding the purchase price to Buyer in the event the Property is materially different from the posted description and paying the cost to return the Property to you. Notwithstanding the aforementioned Return Policy, you agree to rescind, during the maximum period permitted under applicable law, the sale of any Property sold by you on the Site and to refund the purchase price to the Buyer, if said Property is shown to be inauthentic.
- You will not offer Buyers the opportunity through the Site to purchase any items of Property outside of the Site.
- You confirm that your name and address provided to us are accurate. You also agree to give us any information and documents we may reasonably need to satisfy our client identification and registration procedures, and you confirm that all the information and documents you give us are accurate and are originals or true copies of the originals.
- You agree that you will disclose to Buyer all identifying information necessary to complete the transaction, including but not limited to, identifying information required by applicable law to send or receive funds pursuant to anti-money laundering regulations, know your customer regulations, or any similar regulation or law. If you fail to comply with this obligation in a timely manner, you agree that auctionhood may, at its sole discretion, (i) disclose such information to Buyer if known; (ii) complete the transaction through auctionhood’s escrow; and/or (iii) cancel the transaction in which case auctionhood shall be entitled to collect from Seller a fee equal to the Withdrawal Fee.
- The Site and its Services only may be used for lawful purposes and in a lawful manner. You agree to comply with all applicable laws, statutes and regulations regarding your use of the Site and its Services, including in regard to bidding, and purchasing Property.
- You will not allow other persons or entities to post items on the Site using your membership name. Unauthorized use of passwords or user accounts is also prohibited. You agree not to share account information with other parties. auctionhood will not be held liable for any activity resulting from compromised account information.
- You will not interfere with the operation of the Site or with any auction being conducted on the Site, through any device, software, virus or other means, including without limitation, sniping, time bombs, etc.
- You will immediately notify auctionhood if you suspect that your information or listing data has been compromised.
- You agree that auctionhood can cancel a sale if we reasonably believe that completing the transaction is or may be unlawful or we reasonably decide that the sale of the item of Property places us or you under any liability to anyone else or may damage our reputation. In these circumstances you authorize us to notify the Buyer of the cancelled sale and of their obligation to return of the item of Property. If the Buyer has already paid you for the purchase, you must repay the Buyer the purchase price when we ask you to do so. You may contact auctionhood for assistance with identifying the source of funds that you receive from the Buyer.
Seller warrants that (i) Seller has the right to offer the Property for sale through the Site; (ii) Seller has good and unencumbered title to any Property offered for sale by Seller through the Site (or acts as authorized agent for same) and good and unencumbered title and right to possession to the Property will pass to the Buyer of such Property at the time of sale; and (iii) if applicable, the Property has been lawfully imported into the jurisdiction in which it is currently located and that any applicable tariffs and taxes have been properly paid. Seller further warrants the accuracy of the posted information on all items of Property listed by Seller, or by auctionhood on Seller’s behalf, for bidding or purchase on the Site in accordance with the Property Policy and Listing Guidelines. auctionhood reserves the right to terminate any auction or sale of any item which it believes in its sole discretion is not authentic or where authenticity is substantially not as described in the listing. auctionhood will have no liability to the Seller or other person or entity (including any bidder) in any auction terminated by auctionhood.
Purchase Now, After-Sales and Private Sales
A purchase made on auctionhood’s “Purchase Now” option is subject to these Terms as if it were the winning bid at auction. In the event that a lot remains unsold at the close of an auction and a Buyer makes an offer through auctionhood to purchase the work that is accepted by the you, you shall pay auctionhood a fee as set forth above (or such other fee as shall be agreed upon between auctionhood and Seller in writing in advance) and the transaction shall be governed by the terms of this Master Seller Agreement. All private sales are governed by any agreement entered into between auctionhood and the Seller for each particular private sale. To the extent they are not in conflict, the terms of the Master Seller Agreement shall be incorporated therein.
Shipping and Escrow
Use of Content
You, the Seller, grant to auctionhood and its affiliated entities an irrevocable, non-exclusive, worldwide, royalty-free, perpetual license and right to publish, reproduce or otherwise use all materials, text, information, images, photographs or other content, including prices, submitted by you to the Site (collectively, the “Materials”) for all purposes, in any medium whatsoever. It shall be Seller’s sole and exclusive responsibility to secure any necessary permissions and/or authorizations to list, post or display any Materials on the Site where such rights are held by third parties.
Monitoring, Investigation and Disclosure
Further, as permitted by applicable law, auctionhood also reserves the right to report any activity that it suspects violates any law or regulation to appropriate law enforcement officials, regulators, or other third parties. In order to cooperate with information requests, to protect auctionhood’s systems and customers, to allow users to resolve disputes, or to ensure the integrity and operation of the Site, auctionhood’s business and systems or other purposes deemed reasonable by auctionhood, auctionhood may access and disclose any information it considers necessary or appropriate, including, without limitation, user contact details, IP addressing and traffic information, usage history and posted content.
You agree to indemnify, defend and hold harmless auctionhood, and all its officers, directors, owners, agents, employees, content providers, affiliates, licensors and licensees (collectively, the “Indemnified Parties”) from and against any and all claims, actions, losses, damages, liabilities, and all fees, costs and expenses of any kind related thereto (including without limitation, attorneys’ fees and settlement amounts) incurred or suffered by the Indemnified Parties in connection with any claim arising out of, based upon or resulting from: (i) your use of, or inability to use, the Site or Services (including without limitation any claim related to any Property offered for sale or sold by you on the Site); (ii) any negligence, willful misconduct or any breach of this Agreement and any terms and/or policies incorporated by reference herein (including without limitation, breach of any warranty, covenant or obligation hereunder by you); (iii) your violation of any State, Federal, Foreign or International laws, codes or regulations; and (iv) your violation of any third party’s rights, including but not limited to, infringement of copyright, violation of any proprietary right or invasion of any privacy rights. You agree to use counsel reasonably satisfactory to the Indemnified Parties to defend each indemnified claim or action. auctionhood reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you. You shall not in any event consent to the entry of any judgment or settle any claim, action or other matter without the prior written consent of auctionhood.
Disclaimer of Warranties
auctionhood does not represent or endorse the accuracy or reliability of any advice, opinion, statement, or other information displayed or distributed through the Site or Services. You acknowledge that any reliance upon any such opinion, advice, statement, memorandum, or information shall be at your sole risk. auctionhood reserves the right, in its sole discretion, to correct any errors or omissions in any portion of the Site or Services.
THE SITE AND SERVICES, INCLUDING ALL CONTENT, SOFTWARE, FUNCTIONS, MATERIALS AND INFORMATION MADE AVAILABLE ON OR ACCESSED THROUGH THE SITE, IS PROVIDED ON AN “AS IS” “AS AVAILABLE” BASIS WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
CERTAIN CONTENT MAY BE CONSIDERED OBJECTIONABLE BY INDIVIDUAL USERS. THIS SITE IS INTENDED FOR PEOPLE OVER THE AGE OF 18.
NEITHER auctionhood NOR ITS CONTENT PROVIDERS WARRANT THAT THE FUNCTIONS, FEATURES OR CONTENT CONTAINED IN THE SITE OR SERVICES WILL BE UNINTERRUPTED, ACCURATE, OR ERROR FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT ANY OTHER SITE OR THE SERVER THAT MAKES IT AVAILABLE IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
auctionhood makes no representation that any Property offered by you for auction or sale on this Site or purchased by Seller on this Site may be legally exported from the country of location of the Property or imported into any other country, including that of Buyer. Buyer and Seller are responsible for obtaining and completing all necessary import and export forms, permissions, licenses in conformance with the law of the applicable location to effectuate the transactions contemplated by this Agreement.
The following sections survive any termination of this Agreement: Use of the Site; Fees (with respect to fees owed for our services); Seller’s Warranties; After-Sales and Private Sales; Shipping and Escrow; Use of Content; Monitoring, Investigation and Disclosure; Dispute Resolution; Indemnification; International Residents; and General Provisions.
These Terms shall be governed by and construed in accordance with the laws of India, without regard to conflicts of laws provisions. YOU AGREE THAT ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR OUR SERVICES SHALL BE SETTLED BY BINDING ARBITRATION PRESIDED OVER BY AN OFFICIAL APPOINTED BY auctionhood AND THE SAME SHALL BE BINDING UPON BOTH THE PARTIES. EITHER YOU OR auctionhood MAY SEEK ANY INTERIM OR PRELIMINARY RELIEF FROM A COURT OF COMPETENT JURISDICTION. IF NECESSARY TO PROTECT THE RIGHTS OR PROPERTY OF YOU OR auctionhood PENDING THE COMPLETION OF ARBITRATION AND YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT AND SUBMIT TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF THESE TERMS AND CONDITIONS.
These Terms constitute the entire agreement between you and auctionhood with respect to the subject matter hereof, and supersede all previous written or oral agreements between the parties with respect to such subject matter. You shall not assign these Terms to any other entity or person without the prior written consent of auctionhood. No term or condition of this Agreement shall be held to be waived, modified or deleted except by a written instrument signed by the parties hereto. No waiver by either you or auctionhood of any breach or default hereunder shall be deemed to be a waiver of any preceding or subsequent breach or default. The section headings used herein are for convenience only and shall not be given any legal import. Any cause of action you may have with respect to auctionhood must be commenced within one year after the claim or cause of action arises or such claim or cause of action is barred.
Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of each of the parties hereto and their respective heirs, executors, beneficiaries, successors and assigns.