Auction Wise terms and conditions of membership

Article 1 (Purpose)

hese terms are intended to stipulate the requirements and practices for dealing in second hand goods at the auction market managed by the Auction Wise Company and encourage safe and stable trade as well as then eradication of counterfeit items.

Article 2 (Definitions)

We define the following terms, duties, and requirements.

(1)Auction House
① Maintain an office and administer, manage and handle auction activities.
② Approve and accept sellers and buyers to participate the auction.
③ Manage transactions under the Second Hand Goods Act.
(2)Seller
① Must have the license “kobutsu kyokasho” (Second Hand Goods Dealer) issued by the public safety commission.
② Observe these terms and sell goods as instructed by the Auction House.
(3)Buyer
① Must have the license “kobutsu kyokasho” (Second Hand Goods Dealer) issued by the public safety commission.
② Observe these terms and buy goods as instructed by Auction House.

Article 3 (Site)

(Brand venue site)
Name: Auction Wise Brand second hand goods market
Date : 1st 3rd 5th Tuesday
Time: Reception from 10:15am, Auction starts from 10:30am
Site : Kanagawaken'yokohamashi Kōhoku-ku Nippa-chō 859
(Apparel venue site)
Name: Auction Wise Apparel second hand goods market
Date : Thursday
Time: Reception from 10:15am, Auction starts from 10:30am
Site : Kanagawaken'yokohamashi Kōhoku-ku Nippa-chō 859
(Jewelery venue site)
Name: Auction Wise Jewelry second hand goods market
Date: First Thursday of each month(Temporary closing)
Time: Reception from 10:00am, Inspection from 10:00am -12:00pm, Auction starts from 1:00pm
Site: Tokyo, Taito-ku, Ueno 3-20-10 Kinoshita Bldg. 2F

Article 4 (Membership)

Members must be approved by Auction House through the procedure below.

  • (1)Submit an application form.
  • (2)Submit a copy of lisence "kobutsu kyokasho" (Second Hand Goods Dealer) issued by the public safety commission
  • (3)Pay ¥30,000 initial member fee.
  • (4)Submit other documents as required by the Auction House.

Article 5 (Participation fees)

Both Buyers and Sellers must pay a participation fee for each day they attend an auction for the amount below.

  • (1)Auction Wise Brand second hand goods auction ¥3,000
  • (2)Auction Wise Apparel Second hand goods market ¥2,000
  • (3)Auction Wise Jewelry Second hand goods market ¥3,000

Article 6 (Membership Cancellation)

Auction Wise Company may cancel any membership or deny any application with or without any notice under any of the following conditions:

  • (1)If the member has their license of “kobutsu kyokasho” revoked.
  • (2)If Auction House determines in it’s sole discretion that the member is inappropriate for the market.
  • (3)If the member has broken or violated any of the terms of membership.
  • (4)If the member decides to cancel their membership.

Article 7 (Responsibility of the Seller)

  • (1)Cliarify the authenticity and defects of the goods.
  • (2)Adhere to the Auction House's instructions regarding the date and time for having your goods available for auction.
  • (3)After selling, review the auction sale statement prepared by the Auction House. If there are any discrepancies the Seller must notify the Auction House immediately on the day of the auction. If the seller is not present at the auction the Seller must notify the Auction House of any discrepancies within one week. The Auction House will not be responsible for any claims made after these deadlines.
  • (4)reparation, packaging , and transportation of the sellers goods are the sole responsibility of the seller at all times, including after the auction has finished.If the Seller fails to properly handle their goods without reasonable excuse the Auction House reserves the right to dispose of the Seller’s goods. Any cost for disposal will be the responsibility of the Seller.

Article 8 (Responsibility of buyer)

  • (1)Cliarify the authenticity and defects of the goods.
  • (2)After buying, review the auction sale statement prepared by the Auction House. If there are any discrepancies the Buyer must notify the Auction House immediately on the day of the auction. In exceptional circumstances Buyer must notify the Auction House of any discrepancies within one week. The Auction House will not be responsible for any claims made after these deadlines.
  • (3)Preparation, packaging , and transportation of the Buyer’s goods are the sole responsibility of the Buyer at all times, including after the auction has finished.If the Buyer fails to properly handle their goods without reasonable excuse the Auction House reserves the right to dispose of the Buyer’s goods. Any cost for disposal will be the responsibility of the Buyer.

Article 9 (Auction Operations)

Sellers and Buyers will be responsible for fees and costs as outlined below.

(Brand venue)

  • (1)Seller’s Premium
  • Per lot selling price less than \20,000 is 3% premium. Per lot selling price more than \20,000 is 2% Refund premium.
  • (2)Buyer’s Premium
  • The Buyer premium is 5% on all purchases.These fee will be charged once buying and selling is completed.

  • (Apparel venue)

  • (1)Seller’s Premium
  • The Seller premium is 10% on all sales.Precious metals Seller credit: Seller credit is 2% of the sale price per lot. Precious metal Seller credit applies to precious metals sold for intrinsic metal value only. Lots may be subject to review for qualifying for the Precious metals Seller credit.
  • (2)Buyer’s Premium
  • The Buyer premium is 8% on all purchases.These fees will be charged once buying and selling is completed.
  • Article 10 (Warranty of second-hand goods)

    • (1)The Auction House allows buyers ample time for inspection of the goods to check the condition. Therefore, no warranty will be applicable for goods which have defects when purchased.
    • (2)Goods needing warranty (as a general rule, lighters and machinery only) guaranteed for 2 weeks from the day of purchase. After 2 weeks have passed, buyer can not make any claims.
    • (3)If there is any doubt about the authenticity of any goods purchased, the Buyer should negotiate with the Seller through the Auction House within one week after the day of the sale. After one week has passed the Buyer cannot make any claims.
    • (4)Any returned goods are considered property of the Seller, and all the responsibility and cost below will be charged to Seller.
    • ①Shipping cost from buyer to secretariat
    • ②Shipping cost from secretariat to seller
    • ③The cost of transferring money to refund
    • (5)If the Buyer and Seller do not mutually agree on a settlement of a claim the Auction House will determine the settlement at the sole discretion of the Auction House. The Buyer and Seller will accept the decision of the Auction House to be final.

    Article 11 (Goods management)

      (1)The goods are considered property of the seller until auction. After goods are sold at auction they are considered property of the buyer.
    • (2)After both Seller and Buyer finish reviewing the goods and the statement of purchase or invoice, the Auction House's responsibility to care for and keep custody of the goods is concluded.
    • (3)Buyers need to wear gloves to see the goods.
    • (4)In case of any loss, damage or theft the party, Buyer or Seller, considered to have ownership of the property at that time takes the responsibility for any such loss. As an exception, if it is determined that the Auction House has made an obvious and grossly negligent error which caused a loss of property the Auction House may take responsibility for the loss.

    Article 12 (method of payment)

    • (1)Payment in cash is the only accepted method of payment.
    • (2)The Auction House issues statements of selling and buying. As a general rule, the statement will not be reissued.
    • (3)Auction House will not be financially responsible or carry any debt for any transactions on behalf of Buyers or Sellers.
    • (4)If another method of payment is needed, a special contract needs to be arranged prior to the auction date.

    Article 13 (Prohibited activity)

    • (1)Both seller and buyer must not complete any transaction initiated in the auction outside of the auction market.
    • (2)Both seller and buyer must not break the terms and conditions of membership.
    • (3)Must not violate the rights, damage the profits, or harm the reputation of the Auction House or it’s members.
    • (4)Must not falsify documents or misrepresent personal identity or information for registering.
    • (5)Must not assign, give or rent the eligibility for participation to third person.
    • (6)Must not share the eligibility for participation with third person.
    • (7)Must not communicate in any way any confidential information acquired while participating in the auction. For example, personal information or wholesale market values.

    Article 14 (Personal information)

    Auction House will not give any personal information about members without permission to third parties. However, Auction house can give the information without permission only in the cases below.

    • (1)If required under the law.
    • (2)If the Auction House needs to do so to protect it’s rights, profits or reputation.

    Article 15 (supplementary terms)

    • (1)About auction attendance
    • ①Members need to confirm attendance in advance via Website, e-mail or phone call.
    • ②Auction House can refuse participation if the member did not confirm attendance in advance.
    • ③Auction House may offer member a special attendance contract.
    • ④Member needs to contact Auction House promptly if there is any change or alterations with regard to attendance.
    • (2)About consigned goods
    • ①Participation fee must be paid by each consigning company.
    • ②Seller will be responsible for bank transfer fees.
    • ③Seller will be responsible for the shipping costs of returned items.
    • (3)About management of goods
    • ①Seller must to numerically tag each item or lot.
    • ②Buyer must double check the goods at the time of purchase to confirm the goods purchased. After the sale, the seller bears no responsibility except as specified in Article 10.

    <June 1, 2018>

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