These Terms & Conditions govern the use of the PREZIOSI Auctions website and platform (“Platform”), including:
1. online-only auctions operated by PREZIOSI Auctions;
2. fixed-price Marketplace sales;
3. sales by PREZIOSI Auctions;
4. sales by registered third-party professional sellers;
5. sales by registered private sellers, where permitted;
6. consignments of jewellery, watches, gemstones, precious metals, luxury goods, collectibles and other valuable objects;
7. registration, bidding, purchasing, payment, delivery and collection.
By creating an account, submitting an item, registering as a Seller, placing a bid or purchasing an item, the user accepts these Terms & Conditions.
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2. THE ROLE OF PREZIOSI AUCTIONS
PREZIOSI Auctions may act in different capacities depending on the transaction.
2.1 Auction House
For Lots offered directly by PREZIOSI Auctions or on consignment under its auction arrangements, PREZIOSI Auctions operates the online auction and manages the relevant sale process.
2.2 Marketplace Operator
For Marketplace transactions involving a third-party seller, PREZIOSI Auctions operates the Platform as an online marketplace connecting Buyers and Sellers.
Unless expressly stated otherwise on the relevant Lot page, PREZIOSI Auctions is not the owner of goods offered by independent third-party sellers and does not become the seller merely by making the Platform available.
The identity and status of the Seller shall be displayed on the relevant offer where required by applicable law.
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3. REGISTERED THIRD-PARTY SELLERS
PREZIOSI Auctions may allow approved third-party sellers (“Third-Party Sellers”) to offer items through the Marketplace or, where authorised, through online auctions.
A Third-Party Seller must complete the registration and verification process established by PREZIOSI Auctions before being permitted to offer goods for sale.
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4. SELLER VERIFICATION AND TRACEABILITY
Before permitting a professional Third-Party Seller to offer goods to consumers, PREZIOSI Auctions may collect and verify information required under applicable German, European Union and other applicable legislation.
This may include:
* legal name;
* trading name;
* registered address;
* telephone number;
* email address;
* identity documentation;
* company registration information;
* VAT number;
* trade registration number;
* beneficial-owner information;
* payment-account information;
* relevant licences or professional registrations;
* self-certification concerning compliance with applicable laws;
* information concerning the Seller’s products and business activity.
PREZIOSI Auctions may use official databases, public registers or supporting documentation to assess the reliability and completeness of the information supplied.
The Seller remains responsible for the accuracy of all information provided.
Where required by applicable law, relevant information may be retained and disclosed to competent authorities.
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5. SELLER STATUS
Each Seller must accurately declare whether they are:
A. Professional / Business Seller
A person or entity acting for purposes relating to their trade, business, craft or profession.
B. Private Seller / Non-Trader
A person acting outside the scope of a trade, business or professional activity.
The Seller’s status will be displayed or otherwise communicated to the Buyer where required by applicable law.
A Seller may not falsely declare themselves to be a private seller in order to avoid legal or consumer-protection obligations.
Where the Seller is a professional trader, the relevant consumer-protection rights applicable to the transaction shall apply.
Where a Seller is a genuine private/non-trader seller, mandatory consumer rights applicable specifically to trader-to-consumer contracts may not apply, as provided by applicable law.
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6. RESPONSIBILITY FOR THIRD-PARTY SALES
Unless expressly stated otherwise, the contract for the purchase of a Marketplace Lot offered by a Third-Party Seller is concluded between:
Buyer ↔ Third-Party Seller
PREZIOSI Auctions provides the Platform and facilitates the transaction.
The Third-Party Seller is responsible for:
* the legality of the sale;
* ownership of the goods;
* authenticity representations;
* product descriptions;
* condition information;
* conformity with the contract;
* applicable consumer rights;
* warranties;
* invoicing;
* taxes applicable to the Seller;
* delivery obligations, where applicable;
* returns and refunds where required by law.
PREZIOSI Auctions may nevertheless provide additional services such as payment processing, authentication, shipping coordination, customer service or dispute assistance where expressly stated.
PREZIOSI Auctions may establish specific categories and eligibility requirements.
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8. PROHIBITED GOODS
The following may not be offered without prior written approval and any legally required documentation:
* stolen or unlawfully obtained property;
* counterfeit goods;
* fraudulent or forged certificates;
* goods subject to undisclosed ownership disputes;
* prohibited cultural goods;
* restricted materials;
* goods violating sanctions or export controls;
* goods whose sale would violate applicable law;
* goods materially misrepresented by the Seller.
PREZIOSI Auctions may immediately remove an item where there are reasonable grounds to suspect illegality, fraud or violation of these Terms.
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9. AUTHENTICITY AND SELLER WARRANTIES
Every Seller warrants that the goods offered are authentic to the extent represented in the listing and that the Seller has the legal right to sell them.
For gemstones, the Seller must accurately identify known treatments and provide genuine laboratory reports where certificates are referenced.
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10. PREZIOSI AUTHENTICATION AND EXPERTISE
PREZIOSI Auctions may examine, inspect, photograph or authenticate items before publication or during the sale process.
Where applicable, PREZIOSI Auctions may request an independent laboratory report or specialist opinion.
Any examination undertaken by PREZIOSI Auctions does not automatically transfer the Seller’s legal responsibility for the accuracy of the Seller’s representations.
Where PREZIOSI Auctions expressly provides an expert opinion, that opinion shall be interpreted according to the terms and limitations stated in the relevant Lot description or report.
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11. ONLINE-ONLY AUCTIONS
All auctions are conducted exclusively online unless otherwise expressly stated.
The Platform’s electronic auction clock determines the closing time.
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12. BIDS
A bid submitted by a registered Buyer constitutes a binding offer to purchase the relevant Lot, subject to applicable law and these Terms.
The Buyer is responsible for every bid submitted through their account.
A bid cannot normally be withdrawn after submission.
PREZIOSI Auctions may cancel or reject a bid where there is:
* technical malfunction;
* suspected manipulation;
* fraudulent activity;
* account misuse;
* material error;
* legal or compliance concern.
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13. RESERVE PRICE
Where a Lot has a reserve price, the Lot will not be sold unless the applicable reserve is reached, unless PREZIOSI Auctions expressly states otherwise.
The reserve may or may not be disclosed to bidders, depending on the auction conditions.
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14. WINNING BID
The highest valid bid at the closing of the auction constitutes the winning bid, subject to any reserve price and other applicable auction conditions.
The successful Buyer shall receive confirmation of the transaction.
The Buyer is then required to complete payment within the specified period.
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15. MARKETPLACE – FIXED PRICE SALES
Marketplace items may be offered for immediate purchase at a fixed price.
The relevant product page shall identify the Seller and, where required, the Seller’s trader status.
The purchase is completed when the Buyer confirms the order and the transaction is accepted in accordance with the Platform’s procedures.
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16. PRICE AND BUYER’S PREMIUM
Depending on the transaction, the Buyer may be required to pay:
* purchase price or Hammer Price;
* Buyer’s Premium;
* VAT or other applicable taxes;
* shipping and insurance;
* customs duties;
* payment-processing charges, where applicable.
All applicable charges shall be displayed clearly before the Buyer becomes bound by the transaction.
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17. PAYMENT
Payment must be made within the period specified by PREZIOSI Auctions.
PREZIOSI Auctions may require payment through designated payment channels.
For compliance and security purposes, PREZIOSI Auctions may restrict certain payment methods.
A Lot will normally be released only after cleared funds have been received.
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18. THIRD-PARTY SELLER PAYOUT
For Marketplace transactions, PREZIOSI Auctions may collect payment on behalf of the Third-Party Seller where the Platform’s payment structure provides for this.
the net amount shall be transferred to the Seller according to the applicable Seller Agreement.
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19. SELLER COMMISSION
Third-Party Sellers agree to pay the commission or other fees applicable to their account or category.
The applicable fee structure shall be communicated before the Seller submits an item for sale or accepts the relevant commercial terms.
PREZIOSI Auctions may deduct its fees directly from amounts payable to the Seller.
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20. SELLER’S OBLIGATIONS
A Third-Party Seller must:
1. provide accurate information;
2. own or have authority to sell each Lot;
3. comply with applicable laws;
4. provide legally required product information;
5. accurately describe the condition of the Lot;
6. disclose known treatments, repairs and alterations;
7. provide genuine certificates;
8. fulfil orders within the agreed period;
9. comply with applicable consumer law;
10. handle legally required refunds and returns;
11. comply with tax obligations;
12. cooperate with PREZIOSI Auctions in investigations and complaints.
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21. CONSUMER INFORMATION
Where a consumer purchases from a professional Third-Party Seller, PREZIOSI Auctions shall provide the information required by applicable German and European Union consumer law.
The Buyer shall be informed whether the Seller is a professional trader or a private/non-trader.
Where the Seller is not a trader, the Platform shall inform the Buyer that consumer-protection rights applicable to trader-to-consumer contracts may not apply.
Where appropriate, the Platform shall also explain which contractual obligations are the responsibility of the Third-Party Seller and which, if any, are undertaken by PREZIOSI Auctions.
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22. RIGHT OF WITHDRAWAL
Where a transaction is a distance contract between a professional Seller and a consumer, statutory withdrawal rights under applicable German and European Union law may apply unless an applicable legal exception exists.
Where a consumer purchases from a private/non-trader Seller, such statutory trader-to-consumer withdrawal rights generally do not arise solely because the transaction takes place through the Marketplace.
Special rules may apply to auction transactions and specific categories of goods.
The applicable withdrawal and return information shall be provided before the Buyer becomes bound by the transaction.
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23. RETURNS AND REFUNDS
Where a return is legally required, the responsible Seller shall process the return and refund in accordance with applicable law.
Where PREZIOSI Auctions operates the payment process, it may facilitate or administer the refund on behalf of the Seller.
A Seller may not contractually remove mandatory consumer rights.
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24. SHIPPING
The Seller is responsible for shipping where the Seller is designated as the responsible contracting party.
Where PREZIOSI Auctions provides shipping services, the applicable shipping terms shall be displayed on the Lot page or order documentation.
High-value jewellery, gemstones and watches may require:
* insured transport;
* secure packaging;
* identification upon delivery;
* signature upon receipt;
* specialist carriers.
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25. INTERNATIONAL SALES
Buyers and Sellers are responsible for complying with applicable import, export, customs, sanctions and tax regulations.
Certain gemstones, precious metals, watches, cultural objects and other goods may be subject to specific restrictions.
PREZIOSI Auctions may refuse or restrict international transactions where required for legal, regulatory or risk-management reasons.
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26. AML AND KYC
PREZIOSI Auctions may perform customer identification and due-diligence procedures for Buyers and Sellers.
Additional information may be requested concerning:
* identity;
* beneficial ownership;
* source of funds;
* source of wealth;
* provenance of goods;
* transaction purpose.
Failure to provide requested information may result in suspension, cancellation or refusal of a transaction.
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27. MARKETPLACE RANKING AND PRESENTATION
Where the Platform displays multiple third-party offers, PREZIOSI Auctions may use specified parameters to determine their presentation or ranking.
These parameters may include:
* relevance;
* category;
* price;
* availability;
* Seller status;
* quality or completeness of listing information;
* customer experience;
* commercial or promotional criteria.
Where legally required, information concerning the main ranking parameters shall be made available to consumers.
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28. REVIEWS AND SELLER PERFORMANCE
PREZIOSI Auctions may allow Buyers to provide reviews or ratings concerning Third-Party Sellers.
Reviews must be genuine and must not contain:
* defamatory material;
* illegal content;
* personal data belonging to third parties;
* fraudulent claims;
* manipulated ratings.
PREZIOSI Auctions may remove reviews that violate applicable rules.
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29. ILLEGAL GOODS AND NOTICE PROCEDURE
Users may report suspected illegal goods, counterfeit products, fraudulent certificates or other unlawful content through the Platform’s reporting mechanism.
PREZIOSI Auctions may investigate reported content and take appropriate action, including:
* removing a listing;
* suspending a Seller;
* cancelling a transaction;
* notifying affected Buyers;
* cooperating with competent authorities.
Where legally required, PREZIOSI Auctions shall provide affected consumers with information concerning the relevant Seller and available remedies.
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30. SUSPENSION OF THIRD-PARTY SELLERS
PREZIOSI Auctions may suspend or terminate a Seller’s account where:
* required verification has not been completed;
* information is inaccurate;
* goods are suspected to be counterfeit;
* illegal goods are offered;
* repeated complaints arise;
* consumer obligations are breached;
* payment obligations are not fulfilled;
* AML/KYC requirements are not satisfied;
* the Seller violates these Terms.
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31. INTELLECTUAL PROPERTY
All Platform content, including photographs, catalogue descriptions, graphics, trademarks, logos, databases and editorial content, remains protected by applicable intellectual-property laws.
Sellers grant PREZIOSI Auctions the necessary licence to reproduce and display photographs, descriptions and other submitted materials for the purpose of marketing and completing the sale.
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32. DATA PROTECTION
Personal data shall be processed in accordance with applicable data-protection legislation, including the General Data Protection Regulation (GDPR) and applicable German data-protection law.
Information concerning Buyers and Sellers may be processed for:
Further information is contained in the PREZIOSI Auctions Privacy Policy.
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33. PLATFORM LIABILITY
PREZIOSI Auctions shall not be responsible for information supplied fraudulently or incorrectly by an independent Third-Party Seller, except to the extent that PREZIOSI Auctions has an independent legal responsibility under applicable law.
Nothing in these Terms excludes or limits liability that cannot legally be excluded or limited under German law or other applicable law.
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34. FORCE MAJEURE
PREZIOSI Auctions shall not be responsible for delays or failures caused by circumstances beyond its reasonable control, including technical failures, cyber incidents, telecommunications failures, governmental measures, natural disasters, war, strikes or other extraordinary events.
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35. ACCOUNT TERMINATION
PREZIOSI Auctions may suspend or terminate a user’s account in accordance with these Terms and applicable law.
Termination shall not affect obligations already accrued.
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36. GOVERNING LAW
These Terms shall be governed by the laws of the Federal Republic of Germany, without prejudice to mandatory consumer-protection provisions applicable in the consumer’s country of residence.
Where the Buyer is a consumer habitually resident in another country, the choice of German law shall not deprive the Buyer of the protection afforded by mandatory provisions of the law applicable in that country.
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37. JURISDICTION
For transactions involving professional users acting in the course of business, disputes shall be submitted to the competent courts at the registered office of PREZIOSI Auctions in Mönchengladbach, Germany, unless otherwise required by mandatory law.
For consumers, the mandatory jurisdiction rules applicable to consumer contracts shall apply.
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38. AMENDMENTS
PREZIOSI Auctions may update these Terms where necessary to reflect changes in legislation, Platform functionality, business practices or regulatory requirements.
The version applicable to a transaction shall be the version in force at the time the relevant contract is concluded, subject to mandatory law.
Important: When purchasing an item identified as being offered by a Third-Party Seller, the contract of sale is normally concluded directly between the Buyer and that Seller.
The Seller’s identity and trader status are displayed on the relevant offer.
PREZIOSI Auctions operates the Marketplace and may provide additional services as expressly indicated.
The rights and obligations of the Buyer and Seller depend on the Seller’s status and applicable law.
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SELLER NOTICE
By registering as a Third-Party Seller, you confirm that:
☐ The information supplied to PREZIOSI Auctions is complete and accurate.
☐ I am authorised to sell the goods I list.
☐ I will comply with applicable laws and regulations.
☐ I will not offer counterfeit, stolen or unlawfully obtained goods.
☐ I will accurately describe the authenticity and condition of each Lot.
☐ I will disclose known treatments, repairs, alterations and replacement components.
☐ I will comply with applicable consumer-protection obligations.
☐ I will provide all documents requested for KYC/AML and Seller verification.
☐ I accept the PREZIOSI Auctions Seller Terms and applicable commission structure.