Terms & Conditions

1. Introduction

Welcome to TradeAuct. TradeAuct operates an online marketplace and technology platform that enables eligible users to list, offer, bid on, purchase, and sell luxury watches and other approved collectibles through fixed-price sales, offers, and competitive auctions.

These Terms govern your access to and use of TradeAuct, including our website, marketplace services, auction bidding infrastructure, payment facilitation, shipping coordination, storage & consolidation options, and dispute management.

2. TradeAuct's Role

Unless TradeAuct expressly identifies itself as the seller of a specific item in the listing records, all items listed on TradeAuct are offered by independent individual or business sellers.

TradeAuct provides marketplace infrastructure and may facilitate:

• Item listings, cataloguing, and search infrastructure
• Live auctions and competitive bidding mechanics
• Buy Now transactions and offer negotiations
• Payment processing and transaction funds holding
• Coordinated courier collection and tracked delivery
• Storage & consolidation services (15 days free per item)
• TradeAuct Buyer Protection and dispute administration
• Seller settlement calculations and payouts
• Coordination of third-party inspection/authentication where requested

TradeAuct does not automatically become the owner or seller of an item merely because it facilitates a transaction. Where TradeAuct itself is the direct seller, this is explicitly identified in the transaction records.

3. Account Eligibility & Verification

Users must provide accurate, complete, and current information when registering and maintaining an account. To protect marketplace integrity and satisfy regulatory standards, TradeAuct may require:

• Email address and mobile number OTP verification
• Government-issued identity verification (e.g. Emirates ID / Passport)
• Know Your Customer (KYC) for buyers and individual sellers
• Know Your Business (KYB) and commercial trade licence validation for business sellers
• Proof of residential or registered business address
• Valid bank and payout account details matching the verified account holder

TradeAuct reserves the right to refuse, restrict, or suspend accounts where identity verification cannot be completed or where fraud, abuse, legal, or security concerns exist.

4. Individual and Business Sellers

TradeAuct supports Individual Private Sellers, Professional Sellers, and Authorized Dealers. Business sellers are required to complete KYB onboarding, submit valid commercial licensing details, and keep all corporate records current.

5. Listing Accuracy & Disclosures

Sellers are strictly required to provide truthful, accurate, and comprehensive information regarding every item listed, including:

• Brand, Model Name, and Reference Number
• Movement type, Case Material, Dial, and Dimensions
• Accurate physical condition, cosmetic flaws, and functional state
• Inclusion of original Box, Papers, Warranty Cards, and Accessories
• Service history, known replacement parts, and aftermarket modifications
• Clear, unedited photographs of the exact item offered

Sellers must never intentionally conceal defects, alter photographs, or provide misleading information.

6. AI-Assisted Listing Suggestions

TradeAuct may provide artificial intelligence tools or reference catalogue matching to assist sellers in suggesting titles, specifications, reference numbers, and market estimates.

AI-generated data is provided solely as a suggestion. The seller remains solely responsible for reviewing, verifying, and confirming the complete accuracy of the final listing before publishing. AI identification does NOT constitute authentication.

7. Buy Now & Offers

Buy Now listings enable buyers to purchase an item immediately at the displayed price. Where Offers are activated, buyers may submit binding offers that sellers may accept, reject, or counter. A confirmed purchase creates a binding agreement subject to platform rules and mandatory legal rights.

8. Auction Formats

TradeAuct supports Reserve Auctions, No-Reserve Auctions, and From-Zero (starting from AED 0) auctions. Full bidding mechanics are governed by our Auction & Bidding Rules.

9. Binding Bids & Bidding Intent

By placing a bid, you make a binding offer to purchase the item at your bid amount if you become the winning bidder and all applicable auction conditions are satisfied. Final legal wording remains subject to UAE legal review.

Bids are irrevocable once placed and cannot be retracted. Users must not place bids they cannot or do not intend to complete. TradeAuct reserves the right to suspend or restrict accounts that fail to honor winning bids within the required payment window.

10. Marketplace Fees

TradeAuct may charge buyer fees, seller commission, listing fees, reserve fees, shipping fees, or storage fees. All applicable fees and taxes are itemized and clearly disclosed to the user before confirming a transaction or bid.

11. Payment Processing & Settlement Rules

Payment transactions are processed by authorized third-party payment service providers (such as Stripe). Payments are processed securely, with seller settlement subject to TradeAuct’s applicable buyer-protection, compliance checks, and dispute rules.

12. Seller Settlement & Net Proceeds

Seller proceeds are disbursed following a standardized lifecycle:

Seller Net Proceeds = Sale Amount – Applicable Platform Fees – Seller-Paid Shipping – Approved Adjustments/Refunds.

13. Delivery Confirmation

Courier tracking is used to establish proof of delivery. Buyers may manually confirm receipt upon inspection. If courier tracking confirms successful delivery and no delivery dispute is raised within 3calendar days, TradeAuct may automatically mark the item as received. Automatic receipt confirmation does not waive the buyer's remaining Buyer Protection window.

14. TradeAuct Buyer Protection

Eligible transactions receive TradeAuct Buyer Protection. The standard protection reporting window is 7calendar days from courier-confirmed delivery, governed by our separate Buyer Protection & Returns Policy.

15. Dispute Resolution Process

When an eligible dispute is opened, seller payout funds remain on hold until the case is resolved. Both parties agree to cooperate promptly by providing photographs, videos, serial numbers, courier labels, or inspection reports as requested by TradeAuct.

16. Return Eligibility

Returns for counterfeit items, wrong items, or items significantly not as described are mandatory under Buyer Protection, and sellers cannot rely on a “No Returns” preference. Change-of-mind returns on fixed-price items depend on the seller's stated return policy.

17. Shipping & Logistics

Shipping costs may be allocated as Seller-Pays or Buyer-Pays as indicated on the listing. TradeAuct coordinates tracked courier fulfillment. All rules are detailed in our Shipping & Delivery Policy.

18. TradeAuct Storage & Consolidation (Optional)

Where selected at checkout, items may be held with TradeAuct for up to 15 days free of charge to combine eligible purchases into one shipment. After the free-storage period, an admin-configurable daily storage fee of AED 10 per item per day applies. Each stored item receives its own independent 15-day free countdown starting from its intake date. Storing or purchasing new items does not reset the countdown of existing older items.

19. Authenticity Standards

Sellers are strictly forbidden from listing counterfeit goods. Sellers are legally responsible for disclosing all known replacement, aftermarket, or modified components. Third-party inspection reports do not automatically constitute a TradeAuct warranty.

20. Prohibited Conduct

Users must not engage in: counterfeit sales, shill bidding, bid manipulation, fee circumvention, fraudulent claims, identity misrepresentation, off-platform transactions, review manipulation, or interference with platform security.

21. Platform Enforcement & Penalties

TradeAuct may issue formal warnings, cancel listings, hold payouts, restrict bidding/selling privileges, or suspend/terminate accounts for policy violations, fraud prevention, or security compliance.

22. Limitation of Platform Role

TradeAuct does not manufacture the timepieces listed by independent third-party sellers. Except where expressly stated or required by applicable consumer protection laws, TradeAuct does not provide manufacturer warranties.

23. Changes to Terms

TradeAuct may update these Terms periodically. Material updates will be communicated through the platform, and the effective date will be updated at the top of this document.

24. Governing Law & Jurisdiction

These Terms and all marketplace disputes are governed by and construed in accordance with the applicable laws of the United Arab Emirates.