Auction Rules
Ensuring a transparent and secure environment for the acquisition of rarities and collectibles.
01. General Principles
1.1. These Auction Rules govern all auctions conducted on the platform and form part of the Terms of Service.
1.2. By placing a bid, users confirm that they have read, understood, and agreed to these rules.
1.3. The platform may act both as:
- • A marketplace facilitating transactions between users; and
- • A direct seller of certain items.
1.4. The applicable role (marketplace or seller) will be indicated in the listing where relevant.
02. Eligibility to Bid
2.1. Only registered users with active accounts may place bids.
2.2. Users must provide accurate, complete, and current information.
2.3. The platform reserves the right to suspend or restrict bidding privileges at its sole discretion.
03. Bidding Process
3.1. All bids must be submitted through the platform interface.
3.2. Each bid must meet or exceed the minimum next bid amount displayed on the listing.
3.3. A bid is considered valid only once it is successfully received and recorded by the platform.
3.4. In the event of competing bids placed at similar times, the platform’s system timestamp shall determine priority.
04. Binding Nature of Bids
4.1. All bids are final and legally binding.
4.2. Bids cannot be withdrawn, canceled, or modified once placed.
4.3. The highest bidder at the close of the auction is obligated to complete the purchase.
05. Minimum Bid Increments
5.1. Listings enforce a minimum next bid amount.
5.2. Any bid below this amount will be automatically rejected.
5.3. The platform may apply predefined or dynamic increments to ensure orderly bidding.
06. Auction Duration and Closing
6.1. Each auction has a defined start and end time displayed on the listing.
6.2. Auctions close automatically at the stated end time.
6.3. No anti-sniping mechanism is applied; bids placed near the end time do not extend the auction.
6.4. The platform system clock is the authoritative source of time.
07. Winning an Auction
7.1. The highest valid bid at the time of closing is the winning bid.
7.2. The winning bidder will be notified via the platform and/or email.
7.3. Winning bidders are obligated to complete payment within the specified timeframe.
08. Payment Obligations
8.1. The winning bidder must complete payment within 24 hours of auction close.
8.2. Failure to complete payment within this period may result in:
- • Cancellation of the transaction
- • Suspension or restriction of the user account
- • Disqualification from future auctions
8.3. The platform reserves the right to offer the item to the next highest bidder or relist the item.
09. Bid Retraction & Cancellation
9.1. Bid retractions are not permitted.
9.2. The platform may, at its sole discretion, cancel bids that are suspected to be fraudulent, result from system abuse, or violate applicable rules or laws.
10. Prohibited Conduct
Users must not:
- • Engage in shill bidding (artificial price inflation)
- • Use multiple accounts to manipulate auctions
- • Interfere with fair bidding activity
- • Exploit system vulnerabilities or delays
Violations may result in suspension, permanent banning, or legal action.
11. Listing Accuracy & Responsibility
11.1. Sellers are responsible for accurate descriptions, images, and disclosures.
11.2. Where the platform is the seller, it will make reasonable efforts to ensure accuracy but does not guarantee error-free listings.
11.3. Buyers are responsible for reviewing all listing details before placing a bid.
12. Shipping and Risk Transfer
12.1. Shipping terms (including costs and responsibility) will be specified in the listing.
12.2. Unless otherwise stated, risk transfers to the buyer upon shipment or collection/delivery, depending on the method used.
13. Returns and Refunds
13.1. All sales are final unless otherwise explicitly stated in the listing.
13.2. Returns or refunds may be considered only in cases of proven misrepresentation or material defects not disclosed.
13.3. Any approved resolution will be determined at the platform’s discretion.
14. Disputes
14.1. Disputes must be submitted within 3 days of auction completion.
14.2. The platform will review submitted evidence and may take corrective action where appropriate.
14.3. The platform’s decision on disputes is final.
15. System Integrity and Technical Issues
15.1. The platform is not responsible for network delays, connectivity issues, or user device failures.
15.2. In the event of a critical system error, the platform reserves the right to cancel or void affected bids, or suspend/restart auctions.
16. Amendments
16.1. The platform reserves the right to modify these Auction Rules at any time.
16.2. Continued use of the platform constitutes acceptance of any updated rules.