The items offered for sale on this website are provided by Trading in Passion, Inc. d/b/a Klockchain, as owner or agent for the consignor, subject to the following terms and conditions. Where Klockchain is the agent, the contract is between the Seller and Buyer. The following Conditions of Sale and Terms (the “Terms”) constitute the entire agreement with the Buyer relative to the items listed on this website. By bidding at auction, you agree to be bound by these terms
Terms of Guarantee.
Klockchain assures the genuineness of all products listed on its website. If a sold item is proven counterfeit, Klockchain will cancel the sale and refund the total purchase price, including the successful bid price, Buyer’s Premium, and applicable taxes, subject to its terms and conditions. This guarantee is not transferable to any third party.
It is expressly understood and agreed that the rescission of a sale and the refund of the original purchase price if offered, is exclusive and instead of any other remedy which might otherwise be available as a matter of law or in equity. In no event shall Klockchain be liable for any special, punitive, incidental, or consequential damages incurred or claimed, including, without limitation, loss of profits or interest.
Notwithstanding the Guarantees set forth in paragraph 1 above, Klockchain makes no representation or warranty as to originality or fitness for any particular purpose concerning any individual component or part of any item offered for sale on its website, whether cosmetic or mechanical, internal, or external.
Except for the guarantee provided in paragraph 1 above, Klockchain sells all items “AS-IS” without any representations or warranties, expressed or implied. Any comments made by Klockchain and its agents and/or representatives, whether orally or in writing, regarding an item are opinions only and do not constitute statements of fact, warranties, or guarantees.
A buyer’s premium of 8% (the “Buyer’s Premium”) will be added to the final winning bid price (the “Hammer Price”) of each item sold and is payable by the Buyer as part of the total purchase price. The first $10,000 of the “Buyer’s Premium” will automatically be charged to your credit card on file after the end of each auction drop, with any remaining balance added to the final invoice. The Buyer agrees that this payment is final and non-refundable, regardless of whether the Buyer later refuses delivery of an item or otherwise.
Klockchain prompts a Buyer to sign in or create an account before placing a bid on an item on Klockchain’s website. The Buyer must acknowledge and accept these Terms before bidding. The Buyer may place a maximum bid of their choosing, which our bidding software will automatically execute in response to competitive bids placed by other bidders. A credit card hold verifies all bids to ensure the commitment of all potential buyers.
When you select your maximum bid, we will place a hold on the credit card on file for eight percent (8%) of the maximum bid amount. The system will check to see if you are the new highest bidder. As the new highest bidder, your hold will remain until outbid. Holds are released if you are not the new highest bidder. The Buyer expressly acknowledges and agrees that by registering to use Klockchain’s website and placing bids in auctions listed for sale, they have created a binding and enforceable contract upon the conclusion of a successful sale, subject to and by the Terms specified herein.
Klockchain collects sales, use, and other similar taxes due in the United States whenever Klockchain is required to do so. Klockchain is not responsible for collecting sales, use, VAT, or other taxes imposed by other countries or localities. The Buyer is responsible for any foreign, local, or other fees, taxes, assessments, or charges that Klockchain fails to collect. The posted prices for any items that Klockchain offers do not include taxes or shipping charges unless expressly stated otherwise.
We will charge a $150 shipping fee for all purchases up to $100,000. For all purchases over $100,000, we will provide a custom shipping quote dependent on the purchase price of the item and the Buyer’s shipping address provided. The Buyer may also make arrangements for shipping, handling, and insurance at its own expense and risk. Klockchain will not be responsible for any acts or omissions of any shipper, including, without limitation, any packing, shipping, delivery, or insurance for purchased items.
Invoice & Payment.
As described in Paragraph 5 of these Terms above, the winning Buyer will receive a final invoice detailing the following: Final Winning Bid/Hammer Price, any remaining Buyer’s Premium balance, shipping charges, applicable sales, and use taxes. The Buyer can pay the remaining balance on their invoice by bank wire transfer, ACH Payment, or with a credit card (up to a maximum of $50,000 per item and with a three 3% percent surcharge). Payment in full of the final invoice is due within seven (7) days of receipt.
The duration of an auction is seven (7) days. Klockchain shall determine the conduct of any auction on its website, and its determination shall be deemed final and absolute. Klockchain reserves the right to withdraw, close, terminate or reopen the bidding on any item on its website as it deems necessary or fit and in its sole discretion.
Unless otherwise indicated, all items on Klockchain’s website are offered for auction “without reserve” – – that is, there is no minimum price, and we will sell the item to the highest bidder.
Accepted Forms of Payment.
Klockchain accepts credit card and ACH payments through Stripe, Inc. as our third-party payment processing service. Buyers can find Stripe’s Terms of Service at https://stripe.com/usterms. Unless expressly stated, all amounts listed on Klockchain’s website for goods and services are in U.S. dollars.
All Sales are Final.
All sales, including the Buyer’s Premium, are final. Klockchain reserves the right to charge the Buyer a $100 fee, in addition to preserving all other legal and equitable rights that Klockchain may have against the Buyer should a Buyer attempt to obtain a refund through any financial recovery method offered by a financial institution or credit card issuer. The Buyer expressly agrees not to use any process to circumvent Klockchain’s “ALL SALES ARE FINAL” policy, including by requesting a credit card charge-back. If this Paragraph contravenes applicable law, these provisions shall adjust to the minimum extent necessary to comply with such law.
Use of Fraudulent Funds.
In sending payments, the Buyer may not transmit what Klockchain, in its sole discretion, deems to be potentially fraudulent funds. The Buyer may not use a user account or Klockchain’s services in a manner that Klockchain, Visa, MasterCard, American Express, Discover, or any other electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules. The Buyer further represents that it is not subject to trade sanctions, embargoes, or any other restriction on trade in any jurisdiction in which it or Klockchain resides or does business.
If a Buyer violates the applicable agreements, covenants, terms, or conditions, they will default on these Terms. In such cases, Klockchain has the right to take legal action against the Buyer, including holding them liable for the total purchase price, fees, and expenses outlined in the terms. Klockchain may cancel the sale of any item, resell it at public or private auction, or use a combination of these options as liquidated damages against the defaulting Buyer. In all instances, the Buyer will be responsible for the deficiency, handling charges, late charges, fees, and expenses resulting from Klockchain’s actions.
You agree to indemnify, defend and hold harmless Klockchain, its officers, directors, employees, agents, and third parties for any losses, costs, liabilities, and expenses (including reasonable attorney’s fees) relating to or arising out of your use of or inability to use the Site or services, any user postings made by you, your violation of any terms of this agreement or your violation of any rights of a third party, or your violation of any applicable laws, rules or regulations. Klockchain reserves the right, at its own cost, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you. In this event, you will fully cooperate with Klockchain in asserting any available defenses.
Choice of Law.
These Terms and Conditions, as well as the Buyer’s and Klockchain’s respective rights and obligations hereunder, shall be governed by, construed, and enforced by the laws of the State of California.
In the event the parties are not able to resolve any dispute between them arising out of or concerning these Terms and Conditions of Sale, or any provisions hereof, whether in contract, tort, or otherwise at law or in equity for damages or any other relief, then such dispute shall be resolved only by final and binding arbitration under the Federal Arbitration Act, conducted by a single neutral arbitrator and administered by the American Arbitration Association, or a similar arbitration service selected by the parties, in a location mutually agreed upon by the parties. The arbitrator’s award shall be final, and judgment may be entered upon it in any court having jurisdiction. In the event that any legal or equitable action, proceeding, or arbitration arises from or concerns these Terms and Conditions, the prevailing party shall be entitled to recover its costs and reasonable attorney’s fees. The parties agree to arbitrate all disputes and claims regarding these Terms and Conditions or any disputes arising from these Terms and Conditions, whether directly or indirectly, including Tort claims resulting from these Terms and Conditions. The parties agree that the Federal Arbitration Act governs the interpretation and enforcement of this provision. The arbitrator shall determine the entire dispute, including the scope and enforceability of this arbitration provision. This arbitration provision shall survive the termination of these Terms and Conditions.
Class Action Waiver.
Any arbitration under these Terms and Conditions will take place on an individual basis; class arbitrations and class/representative/collective actions are not permitted. THE PARTIES AGREE THAT A PARTY MAY BRING CLAIMS AGAINST THE OTHER ONLY IN EACH’S INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PUTATIVE CLASS, COLLECTIVE, AND/OR REPRESENTATIVE PROCEEDING, SUCH AS IN THE FORM OF A PRIVATE ATTORNEY GENERAL ACTION AGAINST THE OTHER. Further, unless both you and Klockchain agree otherwise, the arbitrator may not consolidate more than one person’s claims and may not otherwise preside over any form of a representative or class proceeding.
If any court or arbitrator finds any part of these Terms and Conditions of Sale to be invalid, illegal, or unenforceable, the balance of the terms and conditions shall continue to be valid to the fullest extent permitted by law.