Auction Rules

This section tells you information about us and the Auction Rules on which we sell any of the products listed on our website to you.

TPAuctions is a division of Timepiece360 FZCO a company based in Dubai. Timepiece360 FZCO Limited liability (registered in United Arab of Emirates, Jebel Ali free zone. License number 161199).

These Auction Rules will apply to any transaction between you and Timepiece 360 FZCO for the sale of our products to you through our website TPauctions.global.

Please read the Auctions Rules carefully and make sure that you understand them, before ordering any products from our Site.

Please note that by ordering any of our products, you agree to be bound by these Auction Rules and the other documents expressly referred to in it.

If you refuse to accept these Auctions Rules and/or our Policies, you will not be able to order any products from our Site.

We may amend our Auction Rules and/or Policies at any time by posting the amended Auction Rules and/or Policies and it is your responsibility to review them periodically. Your continued use of our Site and participation in an auction following the posting of revised Auction Rules and/or Policies means that you accept the changes and agree to be bound by them. You are expected to view our Auction Rules and/or Policies frequently and be aware of any changes which are binding to you.

1. Bidding for an item on our Site:

1. 1 As a Buyer, you may check the Auction Lot, on our Site or in person at our showroom, before live auction starts.

1. 2 If you are a Buyer bidding for an Auction Lot, check the accuracy of your bids. All bids are made at your own risk.
2. 3 Directly contact Timepiece360 to purchase the Auction Lot once your bid is approved by us as the highest bid on the Auction Lot (or the first offer in the Buy Now option), subject to achieving any reserve required
3. 4 A hold of 15% value of the bid amount will be placed on your card on each lot. If you win the lot, a non-refundable 15% of the watch price will be deducted from your card and payment of the remaining amount can take place in our showroom or by bank transfer. If you are not successful with your, the hold amount will be released within 5 working days..
4. 5 Except for the first auction held on 21st May 2022, we will add a 15% commission to the selling price excluding VAT.
5. 6 All prices are inclusive of VAT, if and as applicable according to UAE Law.
6. 7 Buyer shall pay shipping, delivery, collection, taxes, and customs fees associated with your purchase of an Auction Lot.
7. 8 Buyer may appoint another person to collect the Product on his behalf, only if ID or passport details are provided to us through the Buyer's verified e-mail or verified phone number.
8. 9 As a Buyer you agree in regard to each bid submitted for an Auction Lot:

      a) your bid is a legally binding obligation on you, that if your bid is successful and achievesthe reserve                              required by timepiece360(unless the reserve is waived by timepiece360)

      b) you are making an irrevocable offer to purchase that Auction Lot and you must pay final amount of your                    highest bid; 

      c) you cannot withdraw your bid. 

1. 10 If you, as the successful Buyer, fail to complete the purchase of the Auction Lot, Timepiece360 shall not refund the withdrawn 15%.
2. 11 If the credit card account doesn't cover 15% or buyer fails to complete the purchase of the Auction Lot, buyer will be exposed to legal accountability and will be irrevocably forbidden from participating in our auctions.
3. 12 If your bid is successful, subject to achieving any reserve required by Timepiece360 you will pay us the final amount of your highest bid within 5 working days of the auction ending time. If you do not make payment in full within the 5 working days, you will lose the right to purchase the Auction Lot, we shall not refund the withdrawn 15%, and we reserve the right to suspend or cancel your access to the Site.
4. 13 In the event you win a bid but do not fulfil all required/agreed upon terms, you will be disqualified, the second bidder in line will be announced winner of the bid and 15% of the price will be deducted from the new winner's credit card.
5. 14 In case of products sold without accompanying paperwork, the age of the products listed on the website is an estimate only. While this estimate has been given in good faith, no representation or warranty, express or implied, is made by us in relation to the accuracy of this information. Please note that in case of watches sold with paperwork, the age of watches is the date of official stamp by retailer on the warranty: this is not the date of manufacture, which may be significantly earlier.
6. 15 We have the right, at our absolute discretion, to withdraw any Auction Lot from the Coming Soon List or a Live Auction, whether the Auction Lot has a reserve or not. We are not required to provide any reason for exercising this right of withdrawal. We have the right to extend any Live Auction (for any period we determine) and continue to offer for sale any relevant Auction Lot if, in our absolute discretion it is in the best interests of Buyers and the Seller due to delays, interruptions or errors having affected the original Live Auction. In such circumstances, if the Buyer who has made the highest bid on any affected Auction Lot in the original Live Auction that is being extended has already paid our fees in accordance with our Payment Policy, we will refund those fees paid. If a Live Auction is extended all bids remain open and you cannot withdraw your bid.

2. Your Account with Us

2. 1 The Site is available for users at least 18 years old. In order to use the Site as a Buyer you must first register, and you will need to provide at least the following information:

            - First and last name
            - Date of birth
            - Address
            - Details of your bank accounts
            - Such other information as may be requested at signup

1. 2 We reserve the right to make inquiries, including credit and identity checks, about any person transacting with us and we will instruct a third party, such as payment gateway, to verify your name and address, and identity before you can use the Site.
2. 3 As a Buyer, you must provide us with a valid payment method for our fees.
3. 4 The payment gateway reserves the right to carry out checks for the purposes of confirming your identity and the prevention of financial crime. You will be prompted to provide the above information in the payment section when you first try to make a payment. You are not obliged to provide this information, but if you do not you will not be able to make payments through TPauctions.global and payment gateway.
4. 5 If you choose, or you are provided with, a user identification code, password or any other piece of information as part of our security procedures, you must treat such information as confidential. You must not disclose it to any third party.
5. 6 We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Auction Rules.
6. 7 If you know or suspect that anyone other than you know your user identification code or password, you must promptly notify us.

* Watch(es), Product(s), Good(s), Item(s):

The watch (or any part of it) that you wish to buy together with any accompanying box, sales literature, promotional material and other documentation (where applicable), or any other product that we advertise for sale (including without limitation watch winders).

3. Payment

3. 1 You, as a Buyer, may pay for the Products, using one of the following payment methods and pursuant to the following provisions:

1. Credit card: 2% surcharge applies to most credit card payments.
   A 3.5% surcharge applies to American Express card payments, or
2. Cheque: Payable to "Timepiece360 FZCO".
   Funds may take up to 5 working days to clear into our account, or
3. Banker's draft: Payable to "Timepiece360 Limited" All drafts will be authenticated by our bank before the watch is released, or
4. Bank transfer: We accept payment by SWIFT transfers.
   Please contact us for our bank account details; If after paying the initial deposit for the products we do not receive the balance payment in full and cleared funds within a reasonable time 5 working days, then 15% won't be refunded and order will be cancelled.

        3. 2 You, as a Buyer, are obliged to use one payment method only and you can not use multiple methods

           to pay for a Product.
 

4. Customs

If you are based outside UAE, you may also have to pay import duty or other taxes, fees and charges applied by customs or other authorities in the country of receipt. You must comply with all laws and regulations of the country in which you are receiving the products. Any additional charges for customs clearance will be borne by you; we have no control over these charges and cannot predict what they may be. If you are unsure about whether these charges might apply to your order, you should contact your local tax or customs office for further information.

5. Delivery

You can choose one of 2 methods to collect the item:

1. 1 Collection from our showroom. The Buyer may (i) personally collect the Product from our showroom in which the Buyer must present proof of identification and all documents supporting purchase of the Product, or

(ii) The Buyer may appoint another person to collect the item from the showroom, provided the Buyer notifies us by email, in advance, where the email comprises details of the appointed person (full name and ID/passport number) and the appointed person provides us with a valid ID or passport along with the email sent from the Buyer to Us.

1. 2 The Item is usually delivered to the billing address of the card holder, unless another address is provided by the Buyer.
   You will be asked to provide evidence of identity and sign for receiving the item.
2. 3 Delivery charges will vary depending on your address and the weight of the parcel. Deliveries to any location within the Dubai will be for free. If you are based outside of the Dubai, we will advise you of our delivery charges.
3. 4 We use DHL/FedEx services for our national and international destinations. All dates quoted by us for dispatch and delivery of your Item are estimations only.
4. 5 TP auctions and Timepiece 360 FZCO will not be liable for any delay in delivery of the Item that is caused by an event outside of our control or your failure to provide us with adequate delivery instructions or any other instructions that are relevant to the delivery of the Item.
5. 6 For receipt of the Item and before the release of the shipment; the Buyer must provide a valid ID or passport and his/her signature. Any parcel which has been damaged or tampered with should not be signed for and delivery should be refused.
6. 7 If returning an item to us, you will be responsible for the postage and packaging costs unless we waive this requirement in writing (which includes email and/or fax). Please note that customers outside UAE will not be refunded their postage costs for unsuitable items.

6. Returns and Cancellation:
   1. 1 In the event of the delivery of a faulty or defective item or an item which is not as described at the time of auction/purchase, you, as a Buyer, must notify us within 7 working days from the date of delivery, and return the item, with box and paperwork where applicable, within 14 business days from the date of delivery of the item.
   2. 2 We will promptly inspect the item and carry out testing, if required. If the item is proven faulty, defective or not as described at the time of auction/purchase, we, at our sole discretion, will either:

1. Replace the item on a like for like basis, or
2. Repair the item, or
3. Refund your payment in full within 30 days from the date of inspecting the watch.

7. Limitation of Liability

We shall, under no circumstances whatsoever, be liable to you or any third party, whether in contract, tort (including negligence), breach of statutory duty, strict liability or otherwise, for any loss of profit, or any direct or indirect or consequential, special, punitive, exemplary or incidental damages or loss (including lost profits, business or goodwill) arising from or in connection with your use of our Site, or purchase of our Products, or us failure to comply with our Policies, regardless of whether you or third party were advised, had other reason to know, or in fact knew of the possibility of such damages or loss.

In no event will Our total liability to you or a third party, in respect of any other losses that might arise from or in connection with the purchase of Products, or use of our Site, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, exceed the purchase price paid by you.

Some jurisdictions do not allow the exclusion or limitation of liability for incidental or consequential damages, so the above exclusion may not apply to you, provided always that we will not, under any circumstances, be responsible for any incidental or consequential loss that is not reasonably foreseeable to both you and us when you commenced using the Website or when you purchased an Item from us.
Nothing in the above clause shall limit or exclude our liability for: death or personal injury caused by our negligence, or the negligence of our employees, agents or subcontractors (as applicable); fraud or fraudulent misrepresentation; or any matter in respect of which it would be unlawful for us to exclude or restrict liability.

8. Force Majeure

We will not be responsible for any failure to perform, or delay in performance of, any of our obligations under Our Policies that is caused by events outside our reasonable control including without limitation Acts of God, fire, flood, severe weather, explosion, war, act of terrorism, cyber-attack, industrial dispute (whether or not involving Timepiece360 FZCO employees), or acts of local or central government or other competent authorities.

9. Waiver

Any failure or delay by Timepiece360 FZCO to insist upon strict performance of any of your obligations, or to exercise any of the rights or remedies which we are entitled to, will not constitute a waiver of such rights or remedies and will not relieve you from compliance with such obligations.
A waiver by us of any default will not constitute a waiver of any subsequent default.
No waiver by us of any of the terms, conditions or provisions of our Auction Rules and/or Policies will be effective unless it is expressly stated to be a waiver and is communicated to you in writing.

10. Dispute Resolution
    1. 1 In the event you are not satisfied with our services, it’s best if you and us resolve this matter amicably. In such case, contact us by email to: TPhelp@timepiece360.com or what’s app +971588770938. We will reasonably investigate the matter and if it is proven that we are at fault, we, at our sole discretion, shall either

1. Take steps to remedy the defect in our services, or
2. Where you have already paid our fees, in accordance with our Payment Policy, refund you a fair proportion of those paid fees, or
3. Where you have not already paid our fees in accordance with our Payment Policy, charge you a fair proportion of fees.
   1. If all efforts fail to resolve the dispute, these Auction Rules and Our Policies are governed by the laws of United Arab Emirates and any dispute arising from or in connection with these Auction Rules and Our Policies shall be resolved before the Courts of Dubai.

Watch condition is determined through the following:

5/5 - Unworn/ Unwanted gift: (Brand new, without any signs of wear)
    
4/5 -  Mint / Excellent: (Minimal signs of wear from storage, transportation or occasional wear) However some items from old stockpile, may have minimal signs of wear from storage.
    
3/5 - Very Good: (Worn. Glass, hands, dial, case, and movement in very good condition)
    
2/5 - Good: (Worn. Glass, hands, dial, case and movement in good condition. Movement may have been previously serviced)
    
1/5 - Fair: (Worn. Fully functional, glass and other parts may have been replaced.  Movement may require servicing)

Contact Us:

Dubai Boutique

Gold and Diamond Park, Building 2, Level 2, Office 2206,
 Sheikh Zayed Road, Dubai, United Arab Emirates.

Tel:+971 4 541 2000 or 800TIMEPIECE (800 846374323)

You can e-mail us on: TPhelp@timepiece360.com