Auktionsbedingungen und Wichtige Informationen

FIVEWAYS ASSETS LIMITED TERMS & CONDITIONS

1. INTRODUCTION AND SCOPE

1.1 About Fiveways Assets Limited

1.1.1 Fiveways Assets Limited (“Fiveways,” “we,” “our,” or “us”) is a private limited company incorporated under the laws of England and Wales (company number 15888627), with its registered office at Albany House Temple Court, Temple Way, Coleshill, Warwickshire, England, B46 1HH. We operate as an auction house, specialising in the marketing and sale of diamonds, jewellery, and other assets (collectively, “Lots”) through various third-party online auction platforms.

1.1.2 Unless expressly stated otherwise in any specific auction listing, Fiveways acts solely in the capacity of an agent on behalf of third-party sellers (“Sellers”) who wish to offer Lots for sale. Fiveways typically does not acquire title to, nor take physical possession of, the Lots prior to their sale, and disclaims any representations or warranties regarding the authenticity, condition, or completeness of information supplied by the Sellers.

1.1.3 These terms and conditions (these “Terms”) govern all aspects of your relationship with Fiveways in respect of (i) registering for and participating in our auctions, (ii) purchasing Lots, and (iii) payment and collection arrangements. By accessing, registering with, or participating in any auction administered by Fiveways, you acknowledge that you have read, understood, and agree to be legally bound by these Terms.

1.1.4 Scope of Services. Our services comprise:

Advertising and promoting Lots for sale via online auction platforms owned or operated by third parties (the “Platform(s)”);

Administering bidder registration and conducting auctions under our auction house authority;

Facilitating communication between Bidders and Sellers, including notifying winners and issuing invoices;

Receiving and processing payments on behalf of Sellers; and

Coordinating collection, shipping, or delivery of purchased Lots, if applicable.

1.1.5 Use of Third-Party Platforms. Fiveways does not own or operate the Platform(s) through which the auctions are conducted and is not responsible for their functionality, availability, or performance. While we endeavour to keep auction listings accurate and up to date, we disclaim liability for any technical failures, interruptions, errors, or omissions attributable to the Platform(s). Bidders and Sellers remain bound by any separate terms imposed by the relevant Platform(s), in addition to these Terms.

1.1.6 Agent-Only Disclaimer. In facilitating the sale of Lots:

Fiveways acts solely as an agent for the Seller and is not a party to the contract of sale formed directly between the Seller and the Buyer;

We cannot guarantee the Seller’s performance of its contractual obligations (including, without limitation, accurate disclosure of a Lot’s features or timely delivery); and

No statement by Fiveways (whether written or verbal) regarding a Lot’s authenticity, condition, or suitability shall be construed as creating a contractual representation or warranty, save to the extent expressly provided in these Terms.

1.2 Key Definitions

Unless the context otherwise requires, the following definitions apply throughout these Terms (words importing the singular include the plural and vice versa, and references to statutes include subsequent amendments or re-enactments):

“Auctioneer” means Fiveways Assets Limited in its capacity of administering and conducting the auction.

“Bidder” means any person or entity registering, bidding, or otherwise participating in an auction conducted by or on behalf of Fiveways.

“Buyer” means the Bidder with the highest bid accepted by Fiveways at the conclusion of a particular auction, thereby forming a binding contract with the Seller to purchase the Lot.

“Buyer’s Premium” means the percentage or fixed fee, in addition to the Hammer Price, payable to Fiveways for the services provided.

“Hammer Price” means the final bid accepted by the Auctioneer in relation to a Lot, exclusive of the Buyer’s Premium, VAT, and any other applicable charges or taxes.

“Lot” means any item (including diamonds, jewellery, or other assets) offered for sale via Fiveways’ auctions, whether physically located with the Seller or elsewhere.

“Platform(s)” means any third-party online marketplace, website, or software platform used by Fiveways to list and conduct auctions.

“Seller” means the person or entity with the legal right to consign the Lot for auction, whether acting on its own behalf or through an authorised representative.

“Working Day” means any day (other than a Saturday, Sunday, or public holiday) on which banks in London are open for normal business.

“You” or “your” means any person (including Bidders and Buyers) accessing or using Fiveways’ services or participating in auctions.

1.3 Governing Law and Jurisdiction

1.3.1 English Law. These Terms (and any disputes or claims, whether contractual or non-contractual, arising out of or in connection with their subject matter or formation) shall be governed by and construed in accordance with the laws of England and Wales.

1.3.2 Exclusive Jurisdiction. You irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute or claim arising out of or relating to these Terms or the auctions conducted by Fiveways. You waive any objection to those courts on the grounds of venue or forum non conveniens.

1.3.3 International Users. If you access our services from outside England and Wales, you are solely responsible for complying with all applicable local laws and acknowledge that English law and jurisdiction govern any dispute relating to your use of our auctions, irrespective of conflict-of-law rules.

1.4 Amendments

1.4.1 Right to Vary. Fiveways reserves the absolute right to vary, revise, or update these Terms at any time at its sole discretion. Such variations shall take effect upon posting the revised Terms on the auction platforms used or by other means of communication, unless a later date is expressly stated.

1.4.2 Notice of Changes. Where material changes are made, we will endeavour to provide reasonable notice (for example, via email or a prominent notice on the relevant Platform), but you bear ultimate responsibility for reviewing the current Terms before bidding.

1.4.3 Binding Effect. By continuing to use our services, placing any bid, or otherwise participating in an auction after revised Terms are published, you accept those revised Terms and agree to be legally bound by them. If you do not agree with any amendment, your sole remedy is to discontinue participation.

2. BUSINESS-TO-BUSINESS (B2B) SALES AND CONSUMER EXCLUSION

2.1 Trade-Only Declaration

2.1.1 Fiveways provides its auction services exclusively to persons acting in a business capacity and does not offer or intend to offer services to consumers. By registering for or participating in any of our auctions, you warrant and represent that you are doing so for the purposes of a trade, business, or profession and not as a consumer.

2.1.2 You acknowledge that all transactions arising from these auctions are made on a business-to-business (B2B) basis. Consequently, all warranties, terms, and conditions that might otherwise be implied by consumer protection legislation, or otherwise apply only to consumer contracts, shall not apply.

2.2 No Consumer Rights

2.2.1 To the fullest extent permitted by law, you agree and confirm that consumer protection legislation, including (without limitation) the UK Consumer Rights Act 2015 and any analogous local laws, does not apply to your participation in our auctions or any resulting sale.

2.2.2 For the avoidance of doubt, no Buyer shall have any right to cancel or withdraw from a transaction under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (or equivalent legislation), as these regulations do not apply to B2B transactions.

2.2.3 If you are an individual who does not meet the criteria for acting in a business capacity but nonetheless registers, bids, or purchases a Lot, you will be deemed to have done so in the course of business, thereby waiving any right to claim the benefit of consumer protections.

2.2.4 In the event that a dispute arises regarding your business status, the burden of proof shall lie with you to demonstrate that you are acting in a trade or professional capacity consistent with these Terms.

2.3 Misrepresentation

2.3.1 Any false declaration or misrepresentation that you are acting as a business when you are not, or any attempt to claim consumer rights contrary to these Terms, shall constitute a material breach.

2.3.2 Upon discovering such misrepresentation, Fiveways may, at its sole discretion and without limiting other remedies, terminate or suspend your access to our auctions with immediate effect.

2.3.3 Further, we reserve the right to pursue any appropriate legal or equitable remedies, including but not limited to damages, injunctive relief, or other measures, in respect of any losses, liabilities, or costs arising out of your misrepresentation.

3. REGISTRATION AND ELIGIBILITY

3.1 Eligibility

3.1.1 Minimum Age and Legal Capacity. By registering with Fiveways and participating in any of our auctions, you represent and warrant that you are at least 18 years of age and have the full legal capacity to enter into binding contracts.

3.1.2 Business Capacity. You further confirm that you are acting on behalf of a business or in the course of a trade, profession, or enterprise, consistent with Section 2 (Business-to-Business (B2B) Sales and Consumer Exclusion). If you lack authority or capacity to bind any business entity you purport to represent, you shall be personally liable for all obligations arising from any bids you place.

3.2 Registration Process

3.2.1 Required Information. To register as a Bidder, you must provide accurate and complete information, which may include (but is not limited to) your full legal name, business name, registered address, telephone number, email address, and any other details that Fiveways deems necessary to validate your identity, business status, or authorisation.

3.2.2 Proof of Authority. Where you act on behalf of a company, partnership, or other entity, Fiveways may request documentary evidence of your authority to register and bid on that entity’s behalf. Failure or refusal to provide such evidence may result in the rejection of your registration or the suspension of your bidding rights.

3.2.3 Discretion to Refuse or Suspend. Fiveways reserves the right, in its sole discretion and without liability, to reject any application for registration or to suspend or cancel any existing registration, if we have reason to believe that any information provided is incomplete, inaccurate, misleading, or if you otherwise fail to meet our eligibility criteria.

3.3 Account Security

3.3.1 Confidential Login Details. You are solely responsible for maintaining the confidentiality of your login credentials, including any username, password, or other identifying information issued to you by Fiveways or by any third-party auction platform through which we conduct our auctions.

3.3.2 Liability for Bids. All bids placed under your account or using your credentials shall be deemed irrevocably placed by you. You acknowledge and accept responsibility for any bids submitted under your login details, whether or not such use was authorised by you.

3.3.3 Obligation to Notify. If you become aware of any unauthorised access to or misuse of your account, you shall promptly notify Fiveways. We reserve the right to suspend or terminate your account to prevent further unauthorised use.

3.4 Fraud and Compliance

3.4.1 Zero Tolerance. Fiveways maintains a zero-tolerance policy with respect to fraudulent activities, false representations, or any conduct that undermines the integrity of our auctions.

3.4.2 Cooperation with Platforms. In addition to adhering to these Terms, you must comply with any terms, conditions, or rules set by the third-party platforms through which our auctions are hosted. Fiveways shall fully cooperate with these platforms and any relevant regulatory or enforcement authorities (including anti-money laundering agencies) in the investigation or reporting of suspected illicit activity.

3.4.3 Right to Investigate. Fiveways reserves the right, at its discretion, to request additional information or documentation from you to verify your identity, authority, or business status, and to take any necessary action (including suspension or termination of your account) if we reasonably suspect fraud, money laundering, or other illegal conduct.

4. AUCTION PROCESS

4.1 Role of Fiveways Assets Limited

4.1.1 Auctioneer and Agent. Fiveways acts as the Auctioneer for each Lot, administering bidding activities and announcing the highest accepted bid. In addition, unless expressly stated otherwise in a specific listing, Fiveways serves solely as an agent on behalf of the Seller. No contractual relationship for the sale of any Lot is created between Fiveways and any Bidder or Buyer.

4.1.2 Seller Defaults and Misdescription. Fiveways disclaims liability for any default, failure, or omission by the Seller, including inaccuracies or misdescriptions relating to a Lot’s authenticity, condition, or other characteristics. All Lots are offered “as is,” and any statements by the Seller or Fiveways regarding a Lot’s features are for guidance only and do not form part of any contract unless expressly agreed.

4.2 How a Contract Is Formed

4.2.1 Binding Contract. A binding contract of sale between the Seller and the highest Bidder (the “Buyer”) is formed at the moment the Auctioneer declares the Lot sold (whether by “hammer fall” in a traditional sense or by automated closure of the auction on the relevant online platform).

4.2.2 Capacity of Parties. Once the auction concludes and your bid is accepted, you are legally obliged to complete the purchase of the Lot on the terms set out in these Terms and any other applicable conditions specified in the listing or invoice.

4.2.3 Effect of Withdrawal. If Fiveways withdraws a Lot from sale before the auction ends, or if your bid is declined or cancelled, no contract will arise in respect of that Lot.

4.3 Reserves and Bidding

4.3.1 Reserve Prices. Some Lots may be offered subject to a confidential reserve price, which constitutes the minimum price below which the Lot may not be sold. The Seller (or Fiveways acting on the Seller’s behalf) reserves the right, at any time prior to the final acceptance of a bid, to reduce, remove, or otherwise alter the reserve. If, upon the close of bidding, the highest bid does not meet or exceed the then-current reserve, the Lot may be withdrawn or remain unsold at Fiveways’ discretion.

4.3.2 Acceptance of Bids. Fiveways reserves the sole right to accept or refuse any bid. A bid is considered valid only once acknowledged by Fiveways or the applicable online platform. The Auctioneer’s decision on bid acceptance shall be final and binding.

4.3.3 Increments and Method. Bidding increments and the method of bidding (e.g., timed auction, live webcast, etc.) will be as determined by Fiveways or the relevant platform. Fiveways may, at its discretion, modify increments, pause bidding, or otherwise regulate the auction process to ensure fairness and efficiency.

4.3.4 Bid Retractions. Once a bid is placed and acknowledged, it is legally binding and cannot be withdrawn without prior written approval from Fiveways. Bidders are responsible for ensuring they have the authority and funds necessary before placing a bid. Any requests for bid withdrawal must be submitted in writing and will be considered solely at Fiveways' discretion.

4.3.5 Auction End Time Adjustments. Fiveways reserves the right to extend or adjust an auction’s end time in response to system errors, bidding activity, or at its discretion. Adjustments may be made to ensure fairness and transparency in the bidding process.

4.4 Bidding Platforms

4.4.1 Approved Sites. The principal third-party platforms on which Fiveways currently conducts auctions include (but are not limited to) BidSpotter, iBidder, The Saleroom, Lotissimo, and Live Auctioneers. Fiveways may add or remove platforms at its discretion without notice.

4.4.2 No Liability for Interruptions. You acknowledge that Fiveways does not own or operate these platforms and therefore disclaims all liability for any technical issues, errors, delays, or failures beyond its reasonable control, including any lost or unreceived bids, platform downtime, or data corruption.

4.4.3 Compliance with Platform Terms. Participation in any of our auctions via a third-party platform is subject to these Terms and any additional terms, conditions, or policies imposed by the platform provider. Where such platform-specific terms conflict with these Terms, these Terms shall prevail unless otherwise expressly stated.

4.4.4 Limitation of Liability for Platform Failures. Fiveways is not responsible for any inaccuracies, faults, or unavailability of third-party auction platforms. All bids are deemed placed once received by Fiveways, regardless of platform errors. Bidders are advised to confirm bids by monitoring the platform and their registered email notifications.

4.5 Bid Cancellation

4.5.1 Right to Refuse or Cancel Bids. Fiveways reserves the right, at its absolute discretion and without obligation to provide reasons, to refuse, cancel, or retract any bid before a Lot is sold. This includes instances where the Bidder breaches these Terms, the platform’s policies, or where Fiveways suspects fraud, collusion, or other improper conduct.

4.5.2 Effect of Cancellation. If your bid is cancelled or refused by Fiveways, you shall have no claim against Fiveways, the Seller, or any third party for any loss or damage you may allege to have suffered as a result.

4.6 Bidder’s Warranties

4.6.1 Authority and Funds. By placing a bid, you represent and warrant that you (a) have the necessary authority and capacity to enter into a binding contract, (b) have sufficient funds or arrangements to promptly fulfil the purchase price, Buyer’s Premium, and any applicable taxes or fees, and (c) are bidding in a business capacity, consistent with Section 2 (Business-to-Business (B2B) Sales and Consumer Exclusion).

4.6.2 Binding Offer. Each bid constitutes your irrevocable offer to purchase the Lot in accordance with these Terms and any additional conditions stated in the relevant listing. If your bid is successful, you undertake to complete the purchase and make payment in full within the timeframe specified in these Terms or the invoice.

4.6.3 No Reliance on Future Representation. You acknowledge that no statement, representation, or assurance made by Fiveways or the Seller after the closing of the auction shall affect your contractual obligation to pay for and take title of the Lot in accordance with the final bid and these Terms.

4.7 Sale to Underbidder (Second-Chance Offer)

4.7.1 Failure by Highest Bidder. If the highest Bidder (as determined at the close of bidding) fails to pay the purchase price or otherwise breaches these Terms, or if Fiveways reasonably believes the highest Bidder’s registration or bidding was invalid, fraudulent, or made in bad faith, Fiveways may, at its sole discretion and without further liability, treat the sale contract as rescinded. In such an event, the Lot may be resold or offered to the next highest Bidder (the “Underbidder”).

4.7.2 Multiple Identical Items. Where the Seller possesses more than one identical or substantially similar Lot, and the highest Bidder has purchased one, Fiveways reserves the right to offer one or more additional Lots to any Underbidder at the final bid price achieved for the first sold Lot (or such other price as Fiveways may determine).

4.7.3 No Obligation on Underbidder. The Underbidder is not obligated to accept the offer. Any acceptance will form a binding contract on the Underbidder to purchase the Lot (or additional lots) in accordance with these Terms, as if the Underbidder had been the highest Bidder at the close of the original auction.

4.7.4 No Guarantee of Second-Chance Offer. Fiveways shall have no obligation to make a second-chance offer to any Underbidder and may, at its discretion, re-auction the Lot or dispose of it by private treaty. Fiveways is not liable for any loss or damages alleged by the Underbidder if a second-chance offer is not made or is subsequently withdrawn.

5. REPRESENTATION, DESCRIPTIONS, AND INSPECTION

5.1 Titles, Descriptions, and Images

5.1.1 Reference Only. Any titles, descriptions, and images provided by Fiveways or the Seller in connection with a Lot (whether in a catalogue, online listing, advertisement, or otherwise) are furnished solely for identification and reference purposes. They are not intended, and shall not be construed, as definitive representations of a Lot’s complete condition, authenticity, or inherent value.

5.1.2 No Warranty of Accuracy. Although Fiveways endeavours to ensure that any descriptive information is accurate and up to date, neither Fiveways nor the Seller makes any guarantee, representation, or warranty (express or implied) as to the correctness, completeness, or reliability of titles, descriptions, images, or other published information pertaining to a Lot.

5.2 Imperfections and Condition

5.2.1 Sold “As Is.” All Lots are sold “as is”, with all existing faults, imperfections, and potential defects at the time of sale, whether known or unknown, apparent or latent. By bidding, you acknowledge that a Lot may exhibit damage, wear, or deterioration that is not readily visible from any published photographs or written descriptions.

5.2.2 Disclaimer of Condition Representations. Any comments made by Fiveways or the Seller (verbally or in writing) regarding a Lot’s condition, quality, or suitability for any purpose are opinions only and do not form part of any contract. You must rely on your own assessment or seek independent advice if condition is material to your decision to bid.

5.3 Inspection Opportunities

5.3.1 Pre-Bid Inspection. You are strongly encouraged to inspect Lots in person, where feasible, or to request additional information, photographs, or videos if an in-person inspection is not possible. Requests for further details should be made prior to placing any bid.

5.3.2 Limited Availability. Physical inspections may be subject to time constraints or location issues (e.g., if a Lot is in transit or stored off-site). Where an inspection is not feasible, you accept that your bid is based upon the information available and that you bear the risk if the Lot differs from your expectations.

5.3.3 No Liability for Missed Inspections. Failure to inspect or request supplemental details before bidding shall not entitle you to cancel or rescind a purchase after the auction has concluded.

5.4 No Additional Warranty

5.4.1 Exclusion of Implied Warranties. To the fullest extent permissible under UK law, all warranties, conditions, or other terms implied by statute or common law (including, without limitation, the Sale of Goods Act 1979 and any implied warranties of merchantability, fitness for a particular purpose, or satisfactory quality) are hereby excluded.

5.4.2 Contractual Limitation. Except as expressly provided in these Terms, neither Fiveways nor the Seller accepts liability for the accuracy or completeness of any representation about a Lot’s nature, quality, or condition. This exclusion is a key term of the contract formed under these Terms and an essential basis upon which the Lots are offered for sale.

6. PAYMENT TERMS AND FEES

6.1 Invoice and Payment Deadline

6.1.1 Issuance of Separate Invoices

(a) Two-Invoice Approach. Following the conclusion of an auction, if you are the highest Bidder on any Lot, Fiveways will issue two separate invoices in respect of that Lot:

The First Invoice for the Hammer Price plus any applicable VAT on that amount; and

The Second Invoice for the Buyer’s Premium, any applicable administration/handling fee, and associated VAT (if any).

(b) Timing of Invoices. The First Invoice is typically generated within thirty (30) minutes of the auction end, and you must pay it in cleared funds within twenty-four (24) hours of receipt (unless otherwise stated). Once the First Invoice is fully settled, the Second Invoice will be issued. You must then pay the Second Invoice in cleared funds within twenty-four (24) hours of its issuance, unless otherwise specified on the invoice.

(c) Obligation to Pay in Full. Payment of the First Invoice does not discharge your obligation to settle all additional fees and charges reflected on the Second Invoice. No Lot shall be released to you for collection or delivery until both invoices have been paid in full in cleared funds (together with any other charges owed under these Terms).

6.1.2 Non-Receipt or Delay of Invoice

(a) Responsibility to Notify. Failure to receive either invoice shall not relieve you of your obligation to remit payment on time. If you have not received a particular invoice within a reasonable period, you must contact Fiveways promptly for assistance.

(b) Accrued Charges. Any delays in issuing the Second Invoice do not waive or reduce the Buyer’s Premium, administrative fees, or related charges. You remain liable for all sums stated in these Terms once you have been declared the winning Bidder.

6.1.3 Time of the Essence. Time for payment is of the essence for both invoices. Late payment or partial payment under either invoice shall be treated as a default under these Terms, and Fiveways’ remedies (including interest, storage charges, re-auction, etc.) shall apply.

6.2 Payment Methods

6.2.1 Accepted Forms. Unless expressly agreed otherwise in writing by an authorised representative of Fiveways, payment must be made by BACS (Bankers’ Automated Clearing Services) transfer into the bank account specified on the invoice or such other account as Fiveways may designate.

6.2.2 Disallowed Methods. Fiveways does not accept payment by credit card, debit card, cheque, cash, or any other payment instruments unless otherwise expressly authorised. Any purported payment by these methods may be refused or treated as non-payment.

6.2.3 Buyer’s Responsibility. All bank or transfer charges incurred in making payments (including charges for international wire transfers) shall be borne by you, and you remain fully liable for ensuring payment is received in the net amount invoiced.

6.3 Buyer’s Premium and Additional Charges

6.3.1 Buyer’s Premium. Unless otherwise stated in the auction listing for a specific Lot, a Buyer’s Premium of 20% plus VAT (i.e., 24%) of the Hammer Price applies to each Lot. However, Fiveways reserves the right to vary the Buyer’s Premium for any given Lot or auction at its sole discretion. Any such variation will be clearly stated in the relevant listing or pre-sale notice, and the Buyer’s Premium ultimately payable shall be the rate disclosed in that specific listing or notice.

6.3.2 Administration and Handling Fees. Unless otherwise stated in the auction listing, each Lot carries a standard administration and handling fee of £295 plus VAT. Fiveways reserves the right to adjust this fee (whether upwards or downwards) for any Lot or auction. Any revised fee will be clearly indicated in the applicable listing or any relevant auction documentation.

6.3.3 VAT and Other Taxes. If applicable, Value Added Tax (VAT) or other sales taxes will be charged in accordance with UK law or any relevant jurisdiction’s tax regulations. Where VAT is applied, you shall be responsible for paying the VAT in addition to the Hammer Price, Buyer’s Premium, and any associated fees or charges. You are also responsible for any import duties, taxes, or levies imposed by other jurisdictions if you arrange for export or shipping outside the UK.

6.4 Late Payment and Default
6.4.1 Interest on Overdue Sums

If you fail to make full payment when due, Fiveways may charge interest on the outstanding balance at a rate of 3% per day plus VAT, beginning on the first day after the payment deadline and continuing until payment is received in full. This interest shall not accrue beyond a maximum of fourteen (14) days unless otherwise agreed in writing or permitted by law. If the statutory interest under the Late Payment of Commercial Debts (Interest) Act 1998, as amended, exceeds the above rate, Fiveways may elect to charge interest pursuant to that Act instead.

6.4.2 Storage and Additional Costs

6.4.2.1 Daily Storage Fee. If your payment remains outstanding, or if you fail to collect or arrange delivery of the Lot within the specified timeframe, Fiveways may remove and store the Lot at a secure facility at your sole cost and risk. You agree to pay a storage fee of £50 (plus VAT) per day per Lot, starting from the date the Lot is removed or otherwise stored.

6.4.2.2 Administration Fee. If a Lot enters storage or remains uncollected due to non-payment or other default, Fiveways may charge a one-off administration fee of £75 (plus VAT) for each affected Lot to cover the handling and administrative costs incurred.

6.4.3 Re-auction or Resale Rights.In the event of default, including but not limited to your failure to pay in full within the required timeframe or to collect the Lot as directed, Fiveways may, without limiting its other remedies:

(a) Rescind the sale of the Lot;

(b) Re-auction the Lot or offer it for private sale at a time and place of Fiveways’ choosing; and/or

(c) Dispose of the Lot in any other commercially reasonable manner.

You shall remain fully liable for any shortfall between the resale price and the total amount originally due (including accrued interest, storage fees, and administrative charges), as well as any additional costs, fees, or damages incurred by Fiveways or the Seller in connection with the resale or disposal.

6.4.4 Retention of Deposits.If you paid a deposit before or during bidding, Fiveways may apply all or part of that deposit toward any unpaid sums, interest, costs, or damages arising from your default. Any surplus deposit (if any remains after such deductions) will be refunded only once you have satisfied all outstanding obligations. Should the deposit prove insufficient to cover the total owed, you shall remain liable for the balance.

6.4.5 Legal Costs and Enforcement. Fiveways reserves the right to recover, on a full indemnity basis, all reasonable legal fees, debt collection charges, court costs, and other expenses incurred in enforcing these Terms or pursuing recovery of overdue amounts. Such costs will be added to any outstanding balance owed by you and shall accrue interest at the rate specified in clause 6.4.1 until paid in full.

6.5 Deposit Requirements (If Applicable)

6.5.1 Deposit as Prerequisite to Bidding. Fiveways may, at its sole discretion, require you to pay a deposit or otherwise provide security before allowing you to bid. The deposit amount and payment details shall be communicated prior to the auction.

6.5.2 Use of Deposit. If you fail to meet your obligations under these Terms (including payment for any Lots for which you are the winning Bidder), Fiveways may apply all or part of your deposit towards any outstanding sums, interests, fees, storage costs, or damages.

6.5.3 Refund of Deposit. If you do not win any Lot(s) or you fully discharge all payment obligations, Fiveways shall refund any remaining deposit (less any applicable fees or deductions) within a reasonable period. Any bank charges or transaction fees related to deposit refunds will be borne by you.

These payment terms and fees provisions form an essential component of the contract between you and Fiveways (and, where applicable, the Seller). By bidding in any auction, you explicitly agree to be bound by these payment obligations, deadlines, and remedies. Failure to comply may result in immediate suspension of your bidding privileges, legal action, or other measures as provided in these Terms.

7. COLLECTION, DELIVERY, AND RISK

7.1 Collection Deadlines

7.1.1 Time of the Essence. Unless expressly stated otherwise in the auction listing or invoice, you shall, at your own expense, collect any Lot purchased no later than five (5) working days after the auction concludes (“Collection Deadline”). The term “working day” refers to any day (other than a Saturday, Sunday, or public holiday) on which banks in London are open for normal business. Time for collection shall be of the essence.

7.1.2 Preconditions to Collection. You may only collect a Lot after (i) paying all amounts owing under these Terms (including the Hammer Price, Buyer’s Premium, and any applicable fees, charges, or taxes) in cleared funds, and (ii) receiving confirmation from Fiveways that the Lot is ready for release.

7.1.3 Collection Appointments. All collections must be arranged in advance with Fiveways. You (or your appointed agent) must present proof of purchase, valid identification, and comply with any security protocols or time slots imposed by Fiveways or the facility where the Lot is held.

7.1.4 Extended Collection Timelines for International Lots. For international Lots, collection and delivery times may be extended due to customs clearance, compliance checks, or logistical constraints. Estimated collection times are as follows:

Jewellery and Diamonds: Up to ninety (90) working days for assessment, customs clearance, and duty payments.

Buyers are responsible for ensuring that these extended timelines align with their purchasing requirements. Fiveways will not be liable for delays due to customs, import/export restrictions, or third-party logistics providers.

7.2 Delivery Services

7.2.1 Optional Delivery Arrangement. Where Fiveways offers, at its discretion, a shipping or delivery service, it does so either (i) through third-party couriers; or (ii) under separate agreement with you. Unless expressly agreed in writing, Fiveways is not obligated to arrange or provide shipping.

7.2.2 Risk During Transit. If Fiveways facilitates delivery via a third-party carrier, such carrier acts as your or the Seller’s agent and not that of Fiveways. Any risk of loss or damage to the Lot in transit shall be borne by you, unless otherwise stated in writing and agreed prior to dispatch.

7.2.3 Insurance. You are solely responsible for procuring adequate insurance to cover the Lot during transit. Fiveways does not provide automatic transit insurance unless explicitly stated in the delivery terms, and any additional charges for such insurance (if available) shall be your responsibility.

7.3 Transfer of Risk and Title

7.3.1 Risk Passing. All risk in and to any Lot passes to you at the moment the Lot is “knocked down” to you as the highest bidder, whether by the physical fall of the hammer in a live auction or the system notification at the close of an online auction (the “Hammer”). You accept all responsibility for insuring the Lot from this point onward.

7.3.2 Title Retention. Legal title to the Lot shall not pass to you until Fiveways has received full and cleared payment of all sums due in connection with the sale, including the Hammer Price, Buyer’s Premium, VAT (if applicable), storage fees, and any other charges or expenses owed under these Terms.

7.3.3 Buyer’s Duty to Insure. You are strongly advised to arrange appropriate insurance coverage against damage, theft, or other risks for the period following the Hammer until actual collection or delivery. Neither Fiveways nor the Seller accepts any responsibility for loss or damage once risk has passed to you, other than as may be expressly stated in these Terms or required by law.

7.4 Failure to Collect

7.4.1 Storage Charges and Removal. If you fail to collect the Lot within the Collection Deadline, Fiveways may, at its sole discretion and without prejudice to any other rights or remedies, (i) remove and store the Lot at a secure facility or warehouse; and (ii) charge you a storage fee of up to £50 + VAT per day per Lot (or such rate as otherwise stated in the invoice or published fee schedule), beginning on the date the Lot is so removed or otherwise stored.

7.4.2 Re-auction or Resale. If collection is not completed within a reasonable period after the Collection Deadline (taking into account any grace period Fiveways, in its discretion, may permit), Fiveways may treat your failure to collect as a material breach. In such event, Fiveways may rescind the sale and either (i) re-auction the Lot; (ii) sell it privately; or (iii) dispose of it in any commercially reasonable manner. You will remain liable for any shortfall between the resale price and all sums due, as well as any related fees and costs incurred in the resale process.

7.4.3 Retention of Payment and Charges. If you have paid some or all of the outstanding amounts, Fiveways may retain these amounts (including any deposit) to offset any accrued storage, administrative, or resale costs, as well as damages or interest owed. Any surplus will be refunded to you only once your default and any associated liabilities have been fully satisfied.

7.4.4 No Right to Claim Loss. You shall have no claim against Fiveways or the Seller for any loss or damage arising from the exercise of the rights in this clause 7.4, including (but not limited to) loss of the opportunity to purchase the Lot, any reputational harm, or any indirect or consequential losses.

8. INTERNATIONAL SALES, TAXES, AND DUTIES

8.1 Import/Export Compliance

8.1.1 Buyer’s Responsibility. If you (the Buyer) arrange for the export or import of any Lot from or into the United Kingdom, or any other jurisdiction, you bear the sole responsibility for compliance with all applicable laws, regulations, licensing requirements, and documentation procedures (including customs declarations and import/export controls). Neither Fiveways nor the Seller will be liable for any penalties, fines, or delays arising from your failure to comply with these obligations.

8.1.2 Duties and Taxes. You shall be solely responsible for paying any and all import duties, export duties, tariffs, excise taxes, sales taxes, or other levies imposed by the relevant authorities in connection with the movement of the Lot across borders. Such sums are in addition to the Hammer Price, Buyer’s Premium, and any other charges specified under these Terms.

8.1.3 Local Restrictions. Certain jurisdictions may prohibit or restrict the import/export of specific items, including precious metals, gemstones, or objects of cultural significance. You are responsible for confirming, prior to bidding, whether any such restrictions apply in your intended destination or origin country.

8.2 Documentary Requirements

8.2.1 Certificates and Permits. Where applicable (e.g., for diamonds requiring Kimberley Process Certification, or for other precious stones and metals subject to specific regulations), you acknowledge and agree that it is your obligation to obtain any required certificates, licenses, or permits. If such documents are stated in the auction listing as provided by the Seller, you remain responsible for verifying their sufficiency for your intended import/export.

8.2.2 Seller’s Documentation. Should the Seller supply any documentary evidence (e.g., gemological certificates, grading reports, or import licenses), Fiveways makes no warranty as to the authenticity, completeness, or §adequacy of those documents for your intended purposes. You must ensure that any provided documentation meets the legal requirements of the jurisdiction(s) to which you plan to ship or transport the Lot.

8.2.3 No Right to Cancel. Any lack of, or defect in, the required documentation shall not entitle you to cancel or rescind the sale, nor to refuse or delay payment, unless otherwise expressly agreed in writing by Fiveways.

8.3 No Liability for Border Delays

8.3.1 Delays and Seizures. Fiveways shall not be liable for any delay, seizure, confiscation, or destruction of the Lot by customs or other governmental authorities due to your failure to comply with applicable import/export regulations or any other legal requirements. Any such event shall not relieve you of your obligation to pay for the Lot in full, together with all associated fees and charges.

8.3.2 Buyer’s Risk. You accept that international shipping is conducted at your own risk and that any transit insurance, whether obtained privately or through an arrangement facilitated by Fiveways (if offered), does not extend to cover fines, penalties, or other governmental actions arising from non-compliance with import/export regulations.

8.3.3 No Liability for Consequential Loss. In addition to disclaiming responsibility for confiscations and delays, Fiveways shall not be liable for any indirect or consequential losses (including loss of profit, business interruption, or reputational harm) resulting from border or customs issues, however arising.

9. WARRANTIES AND CONDITION OF LOTS

9.1 As-Is Sale

9.1.1 No Guarantee of Condition. Unless expressly stated otherwise in these Terms or in the specific auction listing, all Lots are sold strictly “as is” and “where is,” with no warranties or guarantees—express, implied, or statutory—regarding their completeness, accuracy of description, authenticity, provenance, or physical condition.

9.1.2 Inspection and Due Diligence. Bidders are reminded that they bear full responsibility for conducting their own due diligence and are strongly advised to inspect Lots (or request additional information) before bidding, as set out in Section 5 (Representation, Descriptions, and Inspection). By placing a bid, you acknowledge that you accept the Lot in its existing state.

9.2 Certification of Diamonds

9.2.1 Third-Party Certification. In the event that a diamond or other precious stone is stated to be accompanied by a certificate or grading report from GIA, IGI, or any other recognised third-party authority (“Certificate”), such reference is provided for informational purposes only.

9.2.2 No Warranty Beyond the Certifier’s Statement. Neither Fiveways nor the Seller makes any representation or warranty regarding the accuracy, completeness, or grading standards of the Certificate; any statements contained therein are solely those of the issuing certifier.

9.2.3 Buyer’s Reliance. If you rely on a Certificate for bidding or purchasing decisions, you do so at your own risk. You acknowledge that grading opinions and methodologies may vary among different certifiers, and that neither Fiveways nor the Seller shall be liable for any discrepancy between a Certificate’s assessment and subsequent valuations or examinations.

9.3 Limitations

9.3.1 Exclusion of Implied Warranties. To the maximum extent permitted under English law, all conditions, warranties, and terms which might otherwise be implied by statute (including sections 13 to 15 of the Sale of Goods Act 1979) or by common law, are expressly excluded in respect of any Lot sold via Fiveways.

9.3.2 Business-to-Business Sales. As further detailed in Section 2 (Business-to-Business (B2B) Sales and Consumer Exclusion), these auctions are conducted on a B2B basis. Consequently, no consumer protection legislation applies, and the Buyer shall not benefit from any statutory consumer rights.

9.3.3 Reliance on Own Examination. By placing a bid, you acknowledge that any information provided by Fiveways or the Seller (including catalog descriptions, images, and any references to Certificates) is offered without warranty, and that you assume full responsibility for assessing the Lot’s suitability for your particular requirements.

Nothing in this Section 9 shall limit or exclude liability for fraud, fraudulent misrepresentation, or death/personal injury resulting from negligence, to the extent such exclusion is not permissible under English law.

10. LIMITATION OF LIABILITY

10.1 Exclusions

10.1.1 No Liability for Indirect or Consequential Losses. To the fullest extent permitted by law, Fiveways and the Seller shall not be liable for any indirect, special, incidental, or consequential losses, or for any losses of profit, revenue, business, anticipated savings, goodwill, or data, regardless of whether such losses arise under contract, tort (including negligence), statutory duty, or otherwise.

10.1.2 Liability Cap. In the event that Fiveways or the Seller is found liable to you for any claim relating to the sale or handling of a Lot, such liability shall be strictly limited to the Hammer Price of the relevant Lot (plus any Buyer’s Premium and applicable fees you have actually paid to Fiveways in respect of that Lot). This cap applies regardless of the form or basis of the claim, including without limitation any breach of contract, negligence, or other tort.

10.2 No Liability for Third-Party Actions

10.2.1 Seller’s Default and Third Parties. Fiveways disclaims any liability for losses or damages caused by a Seller’s default, including the Seller’s failure to provide accurate information, fulfil contractual obligations, or otherwise comply with any representations it makes. Any remedies for default by a Seller lie solely against the Seller, not Fiveways.

10.2.2 Platform and Carrier Disclaimers. You acknowledge that the auction platforms and carriers used to facilitate listing, bidding, or delivery are owned and operated by third parties over whom Fiveways has no control. Accordingly, Fiveways shall not be liable for any interruption, inaccuracy, unavailability, or error arising from a third-party platform or any loss, damage, or delay caused by a carrier in possession of your Lot.

10.3 Mandatory Statutory Exceptions

10.3.1 Personal Injury and Death. Nothing in these Terms shall exclude or limit any liability for death or personal injury resulting from a party’s own negligence, or for fraud or fraudulent misrepresentation, to the extent such exclusion or limitation is prohibited by law.

10.3.2 No Further Exclusions. Save for the mandatory exceptions in clause 10.3.1 and any other non-excludable rights under English law, all other liabilities, conditions, warranties, and obligations (whether express or implied) are hereby excluded to the fullest extent permitted by applicable legislation.

11. BREACHES, TERMINATION, AND REMEDIES

11.1 Termination of Auction Access

11.1.1 Grounds for Suspension or Termination. Fiveways may, at its sole discretion and without liability, immediately suspend, restrict, or terminate your access to the auction platform(s) and/or any pending or future bids if it reasonably believes that you have:

(a) Breached any provision of these Terms (including failure to make timely payment or collect a purchased Lot);

(b) Engaged in fraud, misrepresentation, collusion, or other dishonest or unlawful activities;

(c) Acted in a manner that undermines the integrity or proper functioning of the auction process, the platform(s), or Fiveways’ legitimate business interests;

(d) Provided incomplete, inaccurate, or misleading information during registration or bidding; or

(e) Otherwise violated any applicable law, regulation, or third-party rights in the course of engaging with Fiveways.

11.1.2 Effect of Termination. In the event of suspension or termination:

(a) You shall forfeit your right to participate in any further auctions hosted by Fiveways until otherwise reinstated;

(b) Any bids placed but not yet accepted may be voided at Fiveways’ discretion;

(c) Fiveways may retain any deposits or other funds already paid, subject to the provisions of these Terms.

11.2 Remedies for Breach

11.2.1 Retention of Deposits. Where a deposit or pre-bid security has been paid, Fiveways reserves the right to retain all or part of that deposit to offset any sums you owe as a result of your breach, including, but not limited to, unpaid invoices, storage fees, interest, and damages.

11.2.2 Rescission of Sale. If you breach these Terms after winning a Lot, including by failing to pay in full or collect the Lot within the required timeframe, Fiveways may, at its sole discretion, rescind the sale on behalf of the Seller. If rescinded, you shall have no right to the Lot, and any partial payments may be retained to cover costs and damages.

11.2.3 Re-auction or Private Sale. Following rescission, Fiveways may re-auction, privately sell, or otherwise dispose of the Lot. You shall remain liable for any shortfall between the resale price and the total amount originally due, as well as all related fees, costs, and expenses incurred by Fiveways or the Seller in conducting the resale (including storage and interest charges).

11.2.4 Damages, Interest, and Costs. Fiveways reserves all rights to claim damages, including but not limited to loss of fees, administrative and legal expenses, costs of transport or storage, and accrued interest on unpaid balances under Section 6.4. You shall remain liable for such sums regardless of whether the Lot is subsequently resold.

11.2.5 Legal Proceedings and Cost Recovery. If you fail to remedy your breach or otherwise refuse to comply with these Terms, Fiveways may commence legal proceedings to enforce the contract, recover outstanding amounts, or obtain any other appropriate relief. All reasonable legal fees, court costs, and related expenses shall be recoverable from you on a full indemnity basis.

11.2.6 Statutory Demand and Bankruptcy Proceedings

If you fail to make full payment for any purchased Lot within the required timeframe, Fiveways may issue a statutory demand requiring payment within twenty-one (21) days. Failure to comply may result in Fiveways initiating bankruptcy proceedings against individuals or winding-up proceedings against business entities.

Fiveways reserves the right to pursue all legal remedies, including:

Rescinding the sale of the Lot.

Re-auctioning or privately selling the Lot, with any shortfall charged to the Buyer.

Seeking damages for breach of contract.

Charging additional interest and recovery fees.

Retaining any deposit paid by the Buyer.

By participating in Fiveways auctions, you acknowledge that these legal actions may be taken in the event of non-payment.

11.3 Indemnity

11.3.1 Buyer’s Obligation to Indemnify. You agree to indemnify, defend, and hold harmless Fiveways, its directors, officers, employees, agents, and Sellers from and against any and all losses, liabilities, damages, costs, and expenses (including, but not limited to, reasonable legal fees and court costs) arising out of or in connection with:

(a) Your breach of these Terms;

(b) Your fraudulent or negligent acts or omissions;

(c) Any misrepresentation or false information provided to Fiveways or the Seller; or

(d) Any claim brought against Fiveways by a third party relating to your conduct as a Bidder or Buyer, including the improper or unauthorized use of the auction platform(s).

11.3.2 Scope of Indemnity. This indemnity extends to cover any amounts awarded against Fiveways in any judgement, settlement, or arbitration, as well as any administrative fines or penalties imposed by a competent authority, provided such liabilities arise from your breach, default, or misconduct as defined in this clause.

12. DATA PROTECTION AND PRIVACY

12.1 Data Processing

12.1.1 Compliance with UK Data Protection Laws. In collecting, storing, and otherwise processing any personal data, Fiveways shall act in accordance with all applicable data protection legislation in the United Kingdom, including the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.

12.1.2 Purpose of Processing. Fiveways processes personal data for legitimate business purposes connected with the auction services we provide. This may include verifying your identity, performing due diligence or anti-money laundering checks, processing payments, facilitating communications, and maintaining accurate contact records.

12.1.3 Security Measures. We implement appropriate technical and organisational security measures to protect personal data against unauthorised or unlawful processing, accidental loss, destruction, or damage. However, no transmission of data over the internet can be guaranteed to be completely secure, and you provide such data at your own risk.

12.1.4 Data Retention. Personal data will be retained only for as long as is necessary to fulfil the purposes for which it was collected or as required by law, after which it will be securely destroyed or anonymised in accordance with our internal data retention policies.

12.2 Privacy Policy

12.2.1 Reference to Policy. Our full practices regarding data collection, use, storage, transfer, and disposal are set forth in our Privacy Policy, which is hereby incorporated by reference. By using our auction services or registering for an account, you acknowledge that you have read and understood our Privacy Policy.

12.2.2 AML and Other Checks. You understand that, in compliance with anti-money laundering (AML) regulations or other legal requirements, we may share certain personal data with third-party agencies or relevant authorities for identity verification or fraud prevention purposes.

12.2.3 User Rights. Where applicable, you retain the right to access, rectify, or erase personal data held by us, as well as to object to or restrict certain data processing activities. To exercise these rights or make a related request, please contact us using the details provided in our Privacy Policy.

12.3 Call Recording

12.3 Call Recording Policy

12.3.1 Purpose of Recording. Fiveways may record telephone calls made to or from our representatives for training, monitoring, quality assurance, and legal purposes.

12.3.2 Storage and Security. All recordings will be stored securely in compliance with applicable data protection laws, including the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.

12.3.3 Use in Legal Proceedings. By communicating with Fiveways by phone, you agree that call recordings may be used in dispute resolution, regulatory compliance, or legal proceedings, including as admissible evidence in court or arbitration.

12.3.4 Sharing with Authorities. We reserve the right to disclose call recordings where required by law, including to law enforcement, regulatory authorities, or third-party legal representatives acting on our behalf.

12.3.5 Opt-Out Policy. If you do not consent to call recording, you must notify us in writing before engaging in telephone communication. However, refusal to consent may limit certain customer service interactions.

13. INTELLECTUAL PROPERTY

13.1 Website Content

13.1.1 Ownership of Content. All content provided by Fiveways on or through its website(s), including but not limited to text, graphics, logos, button icons, images, audio clips, digital downloads, data compilations, and software, is the exclusive property of Fiveways or its content suppliers and is protected by applicable intellectual property laws in the United Kingdom and other jurisdictions.

13.1.2 Trademarks and Branding. The trademarks, service marks, and logos (“Marks”) displayed on Fiveways’ website(s) or related auction platforms (where permitted) are registered and unregistered Marks belonging to Fiveways, its affiliates, or third parties. Nothing in these Terms grants you any licence or right to use any Marks without the prior written permission of their respective owners.

13.1.3 Prohibited Reproduction. You shall not, without the express written consent of Fiveways, copy, reproduce, modify, distribute, transmit, display, perform, publish, license, create derivative works from, or otherwise exploit any content from our website(s) or marketing materials. Any unauthorised use may constitute an infringement of intellectual property rights and result in legal action.

13.2 Auction Materials

13.2.1 Ownership of Auction-Related Content. All marketing materials, lot descriptions, photographs, and other documentation or content related to the Lots (collectively, “Auction Materials”), whether created by Fiveways or provided by the Seller, are and shall remain the property of Fiveways or the Seller (as applicable).

13.2.2 Permissible Use by Bidders. You may access Auction Materials solely for the purpose of viewing, inspecting, or evaluating Lots prior to or during an auction in which you are entitled to participate. You shall not adapt, reproduce, publicly display, or otherwise use the Auction Materials for any commercial purpose without prior written authorisation from Fiveways.

13.2.3 Third-Party Intellectual Property. In some instances, the Auction Materials may incorporate copyrighted works, trademarks, or other intellectual property rights owned by third parties (e.g., gemological reports, manufacturer logos). Nothing in these Terms confers upon you any licence or right to use such third-party intellectual property beyond what is necessary to review or bid on a Lot.

13.2.4 No Transfer of Rights. Except where expressly stated otherwise, purchasing a Lot does not convey any right, title, or licence to the intellectual property embedded or referenced in the Auction Materials. You acquire only the physical or possessory title to the Lot itself. Any separate intellectual property licences or permissions must be sought from the relevant owner(s).

14. FORCE MAJEURE

14.1 Definition

14.1.1 Scope of Force Majeure. A “Force Majeure Event” means any event or circumstance that is beyond Fiveways’ reasonable control and that materially impedes, delays, or prevents the performance of its obligations under these Terms. Such events include, but are not limited to, acts of God, natural disasters (e.g., floods, earthquakes, storms), war or civil unrest, acts of terrorism, strikes or other labour disputes (except those involving Fiveways’ own workforce), governmental actions or restrictions, power outages, telecommunications or internet failures, cyber-attacks, epidemic or pandemic (including governmental measures taken in response), or any similar events that could not reasonably have been anticipated or avoided.

14.2 Exclusion of Liability

14.2.1 No Liability for Delays or Failures. Fiveways shall not be liable for any failure or delay in performing any of its obligations under these Terms where such failure or delay is caused by a Force Majeure Event. In such circumstances, Fiveways’ obligations shall be deemed suspended for the duration of the Force Majeure Event, and the time for performance of such obligations shall be extended accordingly.

14.2.2 Right to Terminate or Reschedule. If a Force Majeure Event continues for a prolonged period and materially affects the feasibility of holding an auction or fulfilling contractual obligations, Fiveways reserves the right to terminate, reschedule, or otherwise rearrange the affected auction(s) without incurring any liability to Bidders, Buyers, or Sellers.

14.2.3 Duty to Mitigate. Where reasonable, Fiveways shall use its best endeavours to mitigate the effects of any Force Majeure Event and resume full performance of its obligations as soon as is practicable under the circumstances. However, in no event shall Fiveways be liable for any indirect or consequential losses, loss of profit, or additional costs arising out of a Force Majeure Event.

15. NOTICES AND COMMUNICATION

15.1 Method of Notice

15.1.1 Approved Communication Channels. Unless otherwise specified in these Terms or required by law, any official notices, communications, or demands required to be given to Fiveways or to any user under these Terms (collectively, “Notices”) may be delivered by email, first-class post, courier, or registered mail to the addresses provided by each party.

15.1.2 Email as Default Method. Where email is used, a Notice shall be deemed to have been received at the time of transmission, provided the sender does not receive any error or “bounce-back” message indicating that the email was not delivered. If such a bounce-back or error message is received, the sender shall promptly take reasonable steps to re-send the Notice or contact the recipient by alternative means.

15.1.3 Postal Notices. For Notices sent by first-class post or registered mail, delivery shall be deemed to occur two (2) working days after posting (if within the United Kingdom) or five (5) working days after posting (if international), unless there is evidence to the contrary (e.g., a signed proof of delivery showing an earlier or later date).

15.1.4 Updates to Contact Details. Each party shall ensure that its contact details (including email address and postal address) are kept accurate and up to date. Any Notice to an out-of-date address shall be deemed valid if the receiving party has not provided the updated details in writing before the Notice was dispatched.

15.2 Legal Correspondence Address

15.2.1 Registered Office. The registered office of Fiveways Assets Limited for legal matters and formal correspondence is as follows (or any other address notified in writing by Fiveways as the official replacement):
Albany House Temple Court, Temple Way, Coleshill, Warwickshire, England, B46 1HH.

15.2.2 Service of Proceedings. Any legal documents, court papers, or formal notices of dispute must be served on Fiveways at its registered office address set out above, unless Fiveways has expressly notified you of an alternative address for service.

15.2.3 Electronic Service. Except where prohibited by law or specific court rules, electronic service of legal process may be valid if consented to by Fiveways in writing. Otherwise, physical delivery of legal documents to the address in clause 15.2.1 remains the required method of service.

16. MISCELLANEOUS PROVISIONS

16.1 Entire Agreement

16.1.1 Superseding Prior Agreements. These Terms constitute the entire agreement between Fiveways and any Bidder or Buyer with respect to participation in auctions, superseding all previous agreements, understandings, or arrangements (whether oral or written) relating to the same subject matter. No party shall have any right of action based upon any statement, representation, or warranty not expressly included in these Terms.

16.2 Severability

16.2.1 Effect of Invalidity. If any provision (or part of a provision) of these Terms is held by a court of competent jurisdiction to be invalid, unenforceable, or illegal, the remaining provisions (or parts of provisions) shall continue in full force and effect. Fiveways and the affected party shall work in good faith to replace any such invalid or unenforceable provision with a valid provision that, to the greatest extent possible, achieves the intended commercial result of the original provision.

16.3 Waiver

16.3.1 No Waiver of Rights. A failure or delay by Fiveways to enforce, in whole or in part, any provision of these Terms, or to exercise any right or remedy, shall not constitute a waiver of that provision, right, or remedy. Any waiver by Fiveways of any breach of these Terms shall not be deemed a waiver of any subsequent breach and shall be effective only if given in writing by an authorised representative of Fiveways.

16.4 Third-Party Rights

16.4.1 No Rights for Third Parties. No third party shall have any right to enforce any provision of these Terms under the Contracts (Rights of Third Parties) Act 1999 or any subsequent amendments.

16.4.2 Fiveways’ Discretion to Exclude. Any rights of third parties to enforce these Terms may be expressly excluded at Fiveways' discretion.

16.4.3 No Buyer Representation for Third Parties. Buyers represent and warrant that they are purchasing for themselves and not as an agent for any undisclosed third party. Fiveways will not recognize any third-party claims regarding a purchased Lot unless explicitly agreed in writing.

16.5 Assignment

16.5.1 Prohibition on Assignment. You shall not assign, transfer, charge, subcontract, or deal in any other manner with any of your rights or obligations under these Terms without the prior written consent of Fiveways. Any purported assignment in violation of this clause shall be null and void.

16.5.2 Transfer by Fiveways. Fiveways may assign or transfer its rights and obligations under these Terms to an affiliate or third party at any time, provided such assignment or transfer does not materially prejudice the interests of any Bidder or Buyer.

16.6 Variation

16.6.1 Right to Modify. Fiveways reserves the right to vary, update, or amend these Terms at any time at its sole discretion. Any such variations shall take effect upon being posted on the Fiveways website or otherwise communicated, unless a later effective date is specified.

16.6.2 Notice of Changes. While Fiveways will endeavour to provide reasonable notice of material changes, it remains your responsibility to review the latest version of these Terms prior to participating in any auction. Your continued use of Fiveways’ services after changes have become effective constitutes acceptance of those changes.

17.1 PRODUCT-SPECIFIC TERMS (CURRENT)

17.1.1 Natural Diamonds

(a) Nature and Grading. Any references to carat weight, colour, clarity, or cut (including “Fancy” colour designations) are based on standard gemological grading scales (e.g., GIA, IGI). Although Fiveways and the Seller endeavour to accurately describe such characteristics, all grading information is ultimately subjective and derived from industry norms or third-party reports.

(b) Clarity-Enhanced or Treated Diamonds. Where a diamond is stated to be clarity-enhanced, HPHT-treated, or otherwise artificially treated to improve its appearance, this fact will be noted in the Lot description to the best of our knowledge. However, Fiveways does not warrant that every treatment or enhancement (if any) has been disclosed. You accept the risk that additional or undisclosed treatments may exist.

(c) Reliance on Third-Party Certification. If a Lot includes a gemological certificate (e.g., GIA, IGI), the statements and conclusions contained therein are solely those of the issuing laboratory. Neither Fiveways nor the Seller makes any representation or warranty regarding the accuracy or completeness of such certificates, and you rely on them at your own risk.

17.1.2 Lab-Grown Diamonds

(a) Manufactured Origin. Lab-grown diamonds are synthetically produced and not formed naturally. The auction listing will clearly indicate if a diamond is lab-grown, along with any grading reports or certificates from recognized institutions.

(b) Certification and Grading. Grading reports for lab-grown diamonds may follow similar criteria (cut, colour, clarity, carat weight) as natural stones; however, varying laboratories may apply different standards or nomenclature. Fiveways disclaims responsibility for any variations in grading criteria between labs.

(c) No Representation of Investment Value. Lab-grown diamonds generally have different market values and resale conditions compared to natural diamonds. Fiveways makes no guarantee as to the future investment potential or market demand for lab-grown diamonds.

17.1.3 Natural Diamond Jewellery

(a) Composition and Hallmarks. Where jewellery pieces are described as containing natural diamonds, any metal hallmarks or purity marks (e.g., 14k, 18k, platinum) are presented as reported by the Seller or visible on the item itself. Fiveways does not undertake independent metallurgical testing to verify these hallmarks.

(b) Setting and Mounting. The condition of prongs, clasps, and mountings is not guaranteed. Although Fiveways may note visible defects, you bear the risk of any hidden or latent flaws in the mounting or setting.

(c) Handmade vs. Mass-Produced. Any mention that a piece is “handmade” or “bespoke” is based on the Seller’s representations. Such statements are provided for identification only and do not constitute a warranty of origin or craftsmanship.

17.1.4 Lab-Grown Diamond Jewellery

(a) Identification as Lab-Grown. Jewellery set with lab-grown diamonds will be clearly labelled as such in the Lot description. You are encouraged to carefully review the specifications before bidding to avoid any confusion with natural diamond jewellery.

(b) Equivalent Grading Terminology. Any grading terminology (e.g., VVS, VS, colour grades) used for lab-grown diamond jewellery is subject to the same variability and subjectivity inherent in gemological assessments. Fiveways assumes no responsibility for discrepancies between grading opinions.

(c) Care and Maintenance. Lab-grown diamond jewellery requires similar care and maintenance procedures to natural diamond jewellery. Fiveways and the Seller provide no warranty regarding durability, longevity, or potential issues arising from daily wear.

17.1.5 Watches

(a) Brand Authenticity and Trademarks. References to watch brands (e.g., Rolex, Cartier, Omega) are for identification purposes only. Unless explicitly stated, Fiveways does not guarantee the authenticity of the watch’s branding, internal components, or service history. Any trademarks or logos remain the property of their respective owners.

(b) Condition and Operation. Watches (whether mechanical, automatic, or quartz) are sold on an “as is” basis. Fiveways and the Seller provide no warranty as to the watch’s functionality, timekeeping accuracy, or need for servicing. Bidders should assume that all watches may require professional inspection or servicing upon purchase.

(c) Modifications and Aftermarket Parts. Some watches may contain aftermarket parts, replaced dials, or other alterations that could affect both collector and resale value. Fiveways disclaims any knowledge of such modifications unless specifically stated in the listing. If originality is critical, you must carry out your own due diligence prior to bidding.

17.2 FUTURE CATEGORIES

(a) Additional Asset Classes. Fiveways reserves the right to introduce new categories of Lots (e.g., fine art, antiques, collectibles) under separate Appendices or Schedules. If so, additional product-specific disclaimers, grading guidelines, or warranty limitations may apply.

(b) Appendix Updates. This Section 17 may be updated from time to time to reflect expanded offerings or revised industry standards. Such updates become effective upon posting or notification, in accordance with these Terms.

Note on Conflicts. In the event of any inconsistency between the disclaimers or conditions in this Section 17 and the general Terms, the specific provisions in this Section 17 shall prevail for the relevant product category, unless stated otherwise. These product-specific provisions do not limit or reduce any protections, exclusions, or disclaimers set out elsewhere in these Terms.