ROGER W. SMITH PRIVATE SALE TERMS AND CONDITIONS
Last updated September 5th, 2023.
These Terms and Conditions apply to the Roger W. Smith Private Sale (“Private Sale”) conducted by WRISTCHECK EXCHANGE LIMITED (“Wristcheck”).
The Private Sale commences on 5 September 2023, 21:00 Hong Kong Time.
The “Seller User” (as defined in the Wristcheck Terms & Conditions) of the Lot (as defined below) has entered into a consignment agreement with Wristcheck and Wristcheck is authorized to conduct this Private Sale and receive the Hammer Price for and on behalf of the Seller User in accordance with these Terms and Conditions.
1. The details and description of the Roger W. Smith Watch (“Lot”) are set out on the landing page (“Landing Page”) in relation to the Private Sale. You shall read the Landing Page carefully before making any offer to the Lot.
2. The 12-month Wristcheck Limited Warranty shall apply to the Lot. If the Lot should become defective at any point throughout the warranty period under Wristcheck Warranty, Wristcheck will repair the Lot, subject to the terms and conditions of the Wristcheck Warranty.
3. Wristcheck disclaims warranties of any kind, whether express or implied, including but not limited to merchantability, non-infringement and fitness of the Lot for a particular purpose. The Buyer shall make your own assessment before making an offer.
4. To be eligible for the Private Sale, each Buyer must:
- be aged 18 years or over, or the legal age as applicable to the Buyer’s jurisdiction;
- have signed up for a Wristcheck account on wristcheck.com/register (please read in particular sections 3 and 9 of the Wristcheck Terms and Conditions in relation to the account); and
- have registered as a Buyer for the Private Sale on wristcheck.com/register commencing 5 September 2023, 21:00 Hong Kong Time.
- have passed Wristcheck’s ‘Know Your Client’ KYC process which is conducted by a third party.
- have duly executed the escrow agreement provided by Wristcheck (“Escrow Agreement”) to the satisfaction of Wristcheck; and
- have duly settled the deposit of USD $150,000 (“Escrow Amount”) in accordance with the terms and conditions contained in the Escrow Agreement and have received the email notification on the receipt of the Escrow Amount by Wristcheck.
5. If the Buyer has not passed the ‘Know Your Client’ KYC process, Wristcheck will not provide the Escrow Agreement for the execution of the Buyer.
6. If the Buyer has not satisfied any of the conditions set forth in clause (a) - (f), the Buyer shall not be eligible to participate in the Private Sale without any further notice.
7. During the Private Sale Period, a Buyer may submit his/her offer to Wristcheck via the designated WhatsApp number specified on the Landing Page. Any offer made after the Private Sale Period and/or any offer made to Wristcheck via any other bidding method will not be considered.
8. The Seller User and/or Wristcheck shall have the right to set a confidential minimum price of the Lot (“Reserve”). The Buyer who submitted the highest offer during the Private Sale Period will be the successful Buyer(“Successful Buyer”), provided that such price is equal to or higher than the Reserve. If Wristcheck receives more than one highest offer of the same amount, the Successful Buyer shall refer to the highest Buyer who first made the offer.
9. Wristcheck will notify the Buyer who becomes the Successful Buyer by email within a reasonable time after the end of the Private Sale Period.
10. Wristcheck may (but shall have no obligation to) (i) notify the Buyer if any other Buyer has outbid his/her offer and/or (ii) update the Buyer on the amount of the highest offer from time to time during the Private Sale Period.
11. In order to obtain the Lot, the Successful Buyer hereby agrees that in addition to the offer price he/she made (“Hammer Price”), the Successful Buyer agrees to pay Wristcheck 4% of the Hammer Price (“Premium”) as a service fee. The sum of the Premium and the Hammer Price is called the “Sold Price”.
12. Upon receiving the email notification from Wristcheck confirming the Buyer status as the Successful Buyer, the Successful Buyer shall pay the difference between the Sold Price and the Escrow Amount (“Remaining Amount”) to Wristcheck by the payment methods specified in the Landing Page.
13. If the Remaining Amount is not received by Wristcheck within 5 business days ( being a day other than Saturday, Sunday and public holidays in Hong Kong) from the date of the said email notification for whatsoever reason (including but not limited to the delays in processing through the Buyer’s chosen payment method), the relevant sale will be terminated immediately and the Escrow Amount will be forfeited without notice. Notwithstanding anything contained hereinabove to the contrary, Wristcheck may at its absolute discretion grant extension to credit-worthy Successful Buyer provided such Successful Buyer could provide credit references and/or any other documents required by Wristcheck.
14. If the Successful Buyer fails to settle the Remaining Amount in accordance with clause 13 hereinabove, Wristcheck may at its absolute discretion declare the next highest bid to become the Successful Buyer. Such Successful Buyer shall then be bound by the terms and conditions in relation to the Successful Buyer contained herein.
15. Wristcheck will return the Escrow Amount (without interest) to all Buyers who are not the Successful Buyer (excluding any Successful Buyer who has been subsequently disqualified) in accordance with the terms and conditions of the Escrow Agreement.
16. The Buyer hereby acknowledges and agrees that any applicable taxes, governmental charges, bank charges, digital wallet charges and any other similar charges and expenses in relation to the Private Sale shall be solely borne by the Buyer. The Buyer hereby understands that if he/she is not the Successful Buyer, the return of the Escrow Amount by Wristcheck to the Buyer may be subject to the deduction of charges associated with the relevant payment method.
17. All payments shall be made in US currency. The Buyer hereby acknowledges and agrees that the Buyer is solely responsible for any fluctuations of exchange rate conversion of foreign currency and cryptocurrency.
18. All payments shall be made by the Buyer on his/her own account. Any payment from third parties including agents will not be accepted and any payment returned to the Buyer by Wristcheck shall only be made to the accounts under the name of the Buyer. If the Buyer is a corporate, Wristcheck may require the representative of the Buyer to provide valid authorization.
19. Wristcheck accepts USDT as the only form of cryptocurrency. If the Buyer uses cryptocurrency to settle any payment, the Buyer is responsible for complying with all applicable laws and regulations related to cryptocurrency transactions, including but not limited to any reporting and tax obligations.
20. The Buyer hereby agrees that unless otherwise specified in these Terms and Conditions, the Buyer and Seller Policies shall apply to the Private Sale, including the sections in relation to (i) shipping charges, (ii) shipping arrangements, (iii) collection, (iv) inspection of products under the Buyer Users Shipping, Collections & Returns Policy.
21. Notwithstanding anything to the contrary mentioned in Clause 20, the Buyer hereby agrees that the 7 days buyer return period does NOT apply to the Lot:
- in the event that the Successful Buyer collects the Lot at Wristcheck Landmark Boutique, the Successful Buyer shall inspect the Lot before signing the acceptance form. By signing such acceptance form, the Buyer is deemed satisfied with the Lot and accepts Wristcheck’s ‘No Return’ policy; and
- in the event that the Successful Buyer collects the Lot by way of shipment, the ‘buyer return period’ shall be 2 calendar days. In any event, no Lot shall be returnable unless in our reasonable view, the condition of the product has been misrepresented on the platform or if the product received is incorrect and the issue has been raised with Wristcheck within a 2-calendar-day period upon the shipment delivery.
22. The Buyer hereby represents and warrants that:
- he/she shall have the full power and authority to enter into these Terms and Conditions and these Terms and Conditions constitute valid and binding obligations on the Buyer;
- to the best of the Buyer’s knowledge, the Buyer’s participation in the Private Sale will not violate any applicable law or regulation; and
- the Buyer has not entered into or given effect to any agreement or arrangement restraining it from entering into these Terms and Conditions.
23. The Buyer hereby agrees and warrants that he/she shall assume sole responsibility for inquiring about and obtaining any necessary licenses and/or certificates, as well as complying with all applicable laws and regulations, in relation to the import and/or export of the Lot and its accessories (including, but not limited to, the alligator strap) as required by his/her respective jurisdiction. Wristcheck does not represent and warrant the legality of shipping the Lot to the Buyer’s jurisdiction.
24. The Buyer hereby acknowledges and agrees that the Seller User shall have the right to make an offer to the Lot by himself/herself or make an offer to the Lot through any third party.
25. Wristcheck has the absolute right, without any compensation, to:
- change and modify these Terms and Conditions (including but not limited to the Private Sale Period and the Reserve) at any time without prior notice;
- block and/or neglect the offer of any Buyer who abused the WhatsApp system provided by Wristcheck without prior notice; and/or
- refuse any offer and/or disqualify any Buyer if the Buyer is in breach of these Terms and Conditions, committed any illegal, dishonest, or improper acts in participation of the Private Sale).
26. To the extent permitted by laws, Wristcheck, its affiliates, sponsors, agents and their respective directors, officers, employees, agents and assignors shall not be liable and/or responsible to any Buyer for the following events. The Buyer agrees to release, discharge and hold harmless the aforementioned parties for:
- Wristcheck’s failure to receive the Buyer’s offer as a result of any network, communication, or system error, interruption and/or failure;
- the Buyer’s failure to receive or loss of the winning notification for whatsoever reasons;
- any losses, damages, costs, expenses and/or claims suffered by the Buyer arising out of or in connection with the Private Sale; and/or
- any other matters outside Wristcheck’s reasonable control.
27. The Buyer shall fully indemnify Wristcheck, its directors, officers, employees, agents, service providers, subsidiaries, and affiliates, and hold each of them completely harmless, from and against all actions, claims, demands obligations, debts, proceedings, liabilities, losses, damages, costs and expenses (including legal fees) which Wristcheck suffered or incurred howsoever arising out of or in connection with any breach, non-performance or non-compliance of these Terms and Conditions on the part of the Buyer or based on the acts, defaults, omission or negligence of the Buyer in connection with his/her participation in the Private Sale.
28. Unless the context otherwise requires words denoting the singular shall include the plural and vice versa and words denoting any one gender shall include all genders.
29. The headings of these Terms and Conditions are for ease of reference and shall not affect the constructions or interpretation of these Terms and Conditions.
30. If any of the provisions in these Terms and Conditions are deemed invalid, illegal, or for any reason becomes unenforceable, that provision will be ineffective and deemed severable and will not affect the validity and enforceability of the remaining provisions of these Terms and Conditions.
31. Any person other than the parties to these Terms and Conditions shall have no rights under these Terms and Conditions and shall not enforce these Terms and Conditions under the Contracts (Rights of Third Parties) Ordinance (Cap. 623).
32. Any notice so addressed to the other party shall be deemed to have been delivered when sent if such notice is sent by electronic communications.
33. These Terms and Conditions are governed by and shall be construed in all respects in accordance with the laws of the Hong Kong Special Administrative Region all the parties hereto hereby submit to the exclusive jurisdiction of the Hong Kong courts in connection with any matters arising hereunder.
34. If there is any dispute over the Private Sale or these Terms and Conditions, Wristcheck shall have the final decision.