The Terms & Conditions explain how you can use the service offered by AuctionWeb Ltd (otherwise known as WellBoughtWellSold or WBWS). They are the WBWS “Terms & Conditions”.
- You can list your vehicle in a timed auction on the WBWS platform as a “Seller”.
- You can bid for and purchase a vehicle in an auction listed on the WBWS platform as a “Buyer”
- You can comment on or ask a question about any auction as a “Registered User” of WBWS
When you use the WBWS platform in any of these scenarios, you agree to be bound by these Terms & Conditions fully.
If WBWS believes you are abusing the platform in any way, we may terminate or suspend your usage at our sole discretion.
“Registered User” Anyone who has registered to use the WBWS platform
“Buyer” A Registered User who has placed a bid for a vehicle on the WBWS platform
“Company” AuctionWeb Ltd (trading as WellBoughtWellSold) and registered in England & Wales with the company number 12691403 and a registered address 7 Bligh’s Walk, Sevenoaks, Kent, TN13 1DB, United Kingdom
“Auction” A Seller’s listing on the WBWS platform where Buyers can bid on a vehicle within the preset time limit. The Auction closes when a Buyer has made the highest bid within the preset time and any Reserve has been met.
“Reserve” A minimum sale value set within any Auction. If the highest bid at the end of the auction is not more than the Reserve, the vehicle will not be sold.
“Bid” A legal offer to buy the vehicle at the price selected by the Buyer should it be the highest bid when the Auction closes
“Buyer’s Commission” A commission payable by the highest bidder when the Auction has finished and the Reserve has been met
“Purchase Price” The value of the highest Bid when the Auction closes and the Reserve has been met
“Seller” The person who has listed a vehicle in an Auction on the WBWS platform
“Listing Fee” A fee WBWS may charge the Seller for listing a vehicle with WBWS
“Account Manager” An employee or agent of WBWS who is the main contact for the Seller
The Company (AuctionWeb Ltd trading as WellBoughtWellSold) provides a service that allows Sellers to auction a vehicle via the WBWS platform and accept Bids from Buyers. The Company is not a vehicle broker or a dealer and does not own or offer for sale any of the vehicles listed on the platform.
All Content associated with an Auction is the property of the Seller and the Seller grants the Company an unlimited license to use the Content in any way it sees fit.
The Company cannot guarantee the accuracy of any Content, nor does it endorse the opinions of Registered Users in any way.
As a Seller you undertake that:
- The Seller is the rightful owner of the vehicle and can supply legal proof of ownership to the Company if requested. If the Seller is acting as an agent for a third party, the Seller will become jointly and severability liable for all aspects of the sale
- The Seller confirms that he is selling the vehicle with full legal title or rights to sell the vehicle and that the vehicle is free of any charges or liens.
- The Seller is required to have a valid credit card registered to WBWS before any Auction can commence
- The Company may charge a Listing Fee for an Auction. There is currently no listing fee for vehicles on WBWS. This will be agreed in writing between the Seller and the WBWS Account Manager before the Auction commences
- The Seller agrees that once an Auction has gone live, the Seller cannot end the Auction for any reason.
- The Seller agrees that if they do not, for any reason, complete a sale where a Buyer has bid the highest amount at the end of the Auction and that the highest bid is above any Reserve, the Seller will become liable for the full Buyer’s Fee which will be charged to the Seller’s registered credit card.
- The Seller agree to remove and take down all third party listings and advertising where the vehicle is for sale or auction as soon as the WBWS Auction goes live.
- The Seller undertakes that once these Terms & Conditions are signed, WBWS will book a photographer to photograph the vehicle. If you decide not to proceed with the listing of the vehicle on WBWS for any reason after the photographs have been completed or where you did not cancel the photographer at least 24 hours before the agreed appointment, WBWS retain the right to charge you £300 for the photography service.
A Seller may request a Reserve to be applied to any listing. The vehicle will not be deemed to have been sold at the end of the Auction if the highest Bid is not greater than the Reserve. The Seller may request to reduce or remove the Reserve at any time whilst the Auction is live. A Reserve cannot be increased.
As a Buyer you undertake that:
- To Bid on an Auction, Buyers are required to have already registered a valid credit card with WBWS
- All Bids submitted by a Buyer are deemed to be a binding contract for the sale of the vehicle
- WBWS will ‘hold’ an amount on the Buyer’s registered credit card equal to £300 for all auctions where a first bid is made and retain the 'hold' until the auction closes. All ‘hold’ amounts for unsuccessful bidders will be released when the auction closes. It can take up to 2 to 3 days to release the 'hold' on your credit depending on your credit card issuer. The 'hold' amount will reduce your available credit limit but it will not show as a debit to your account.
- When submitting a bid, the Buyer agrees to pay the WBWS Buyer’s Fees if he is the highest bidder when the auction ends and the Reserve has been met
- The Buyer’s Fee is currently 6% (which includes UK VAT at 20%) of the highest bid when the Auction ends with a minimum of £300 and maximum of £6000.
- The Buyer’s Fee will be collected immediately on the ending of the auction by charging the winning Buyer’s registered credit card
- The Buyer’s Fee includes VAT at the current rate
- The Buyer is totally responsible for any costs associated with the shipping of the vehicle after the sale
- The Company recommends an independent inspection of the vehicle before biding
- The Buyer acknowledges that the Company has no liability whatsoever associated with the purchasing of a vehicle on the WBWS platform
- When an Auction ends, WBWS will introduce the Buyer to the Seller and it is the Buyer’s responsibility to complete payment for the vehicle within 7 days. WBWS does not handle nor have any liability to any aspects of the completion of the payment process between Buyer and Seller.
- In the event that a Buyer does not complete a sale, the Buyer’s Fee will not be refunded under any circumstances
- In the event that a Seller fails to complete a sale, WBWS may decide at their own discretion to refund the Buyer’s Fee to the Buyer
All credit card payments are processed through WBWS’s card processor Stripe, Inc. For Stripe’s terms of service please go here https://stripe.com/us/terms AuctionWeb Ltd does not collect or retain any personal data associated with payments.
As a Registered User of the WBWS platform you undertake:
- Not to copy or share any intellectual property of WBWS without prior written permission.
- Not to copy or share any other content of the WBWS platform by means of ‘scraping’ or other similar methods
- Not to interfere or compromise the integrity of the WBWS platform
- Not to upload viruses or similar to the WBWS platform
- Not to collect any identifiable personal information
- Not to post content that is harmful, threatening or abusive
- Not to hack the WBWS platform in any way
- Not upload third party content to the WBWS platform where you do not have the written approval of the ultimate owner to do so
The Company undertakes:
- That it may make changes to the WBWS platform from time to time without prior notice
- That it provides no guarantees that the WBWS platform will be accessible at any particular time
- That it may terminate or interrupt the availability of the platform at any time and without prior notice
Other undertakings and requirements:
- If you believe that your copyright has been infringed in any way, please send an email to firstname.lastname@example.org.
- You must be aged 13 or over to be a Registered User
- You must be aged 18 or over to be a Bid on an Auction
- These Terms & Conditions are governed by the laws if England & Wales