NTWRK TERMS OF SERVICE, AUCTION TERMS
NTWRK is a marketplace where Users can view, shop, and purchase items through the NTWRK Services. As part of the NTWRK Services, Users may purchase products in live show auctions (“Auction(s)”). By using the Services in any manner, you agree to be bound by the terms and conditions set forth in these Terms.
In allowing third party sellers (“Seller(s)”) to list products for sale by Auction (each an “Auction Product” or “Product”) on NTWRK Services, NTWRK acts as an intermediary platform provider allowing you to communicate and connect with Sellers and other Users in connection with any product offered for sale, made available for promotion, advertised or sold through the NTWRK Services. NTWRK is not an auction house and we are not conducting live auctions. The purchase of any product through the NTWRK Services forms a binding contractual agreement solely between you, as the buyer, and the Seller.
If you participate in an Auction, you agree to pay all fees and costs in accordance with the Prices; Orders; Shipping and Handling section of these Terms and to be bound by the following Auction Rules, as may be updated by NTWRK from time to time.
- You Bid, You Buy. It's important for the integrity of an Auction—If you bid on something you should be prepared to buy it. If you fail to pay or complete any transaction, NTWRK may, in its sole discretion, deactivate your account and/or terminate your use of the Services completely.
- Clear Errors or Glitches. If there has been a clear error by a user (e.g., bidding $1,050.00 instead of $50.00), NTWRK may cancel the original Auction, and the Auction Product may be re-auctioned thereafter.
- No Shill Bidding. You can only bid if you intend to buy the Auction Product. Any evidence of bidding up prices may result in permanent termination of your account. Shill bidding (i.e., bidding on Auction Products listed for auction to artificially inflate prices, including without limitation, placing consecutive or successive bids or bids in response to other Bidders) is strictly prohibited by NTWRK.
- All Sales Are Final. NTWRK operates under an All Sales Final Policy. All sales made on the NTWRK Services, including Auction sales, are final sale, except in cases of fraudulent purchase arising from the theft and unauthorized use of a third party's credit card information.
AUCTION ELIGIBILITY
NTWRK has eligibility requirements that must be met by users in order to participate in an Auction. You may be required to apply for or obtain approval from NTWRK in order to partake in an Auction. NTWRK reserves the right to establish additional and/or alternative eligibility requirements at any time, whether permanently or temporarily, as NTWRK deems reasonable.
Prior to participating in a live show Auction, NTWRK users must have a valid payment method on file. If you do not have a valid payment method on file, you are restricted from participating in the Auction and placing a bid. A user without a form of payment on file (a “Viewer”) may only watch the live show Auction as a viewer. A user with a payment method on file (a “Bidder”) may watch the live show Auction, bid on the Auction Product(s), and participate in the Auction until the close of the Auction. All users have a real-time view of how the Auction is performing during the live show.
NTWRK provides a platform for Sellers to facilitate live auctions and Users to purchase the auctioned products. You agree that NTWRK will not be a party to any consignment agreement or any other contractual relationship between you and the Seller or any other third party in connection with the sale, purchase, and/or transfer of the Auction Product.
AUCTION TRANSACTIONS
Auctions begin with the price of the Auction Product set at the initial minimum bid for the Product, and Bidders have the opportunity to bid up the price from the time the Auction begins to the close of the Auction. When an Auction closes, the highest Bidder at the time of close has won the Auction, and the Product.
You may also have the ability to purchase Auction Products at a “Buy Now” Price. Bidders are able to purchase Products through NTWRK’s “Buy Now” feature when the Seller sets a specific fixed price for which the Auction Product will automatically sell at (the “Buy Now Price”). In doing so, Sellers create a binding offer to sell the Auction Product at the Buy Now Price. When the Buy Now Price aligns with a Bidder’s specified buying price, the Auction Product will be withdrawn from the Auction, the transaction will be processed, and the Auction will close, regardless of the Auction Length.
If you are the winning Bidder, you agree to be solely responsible for and bear all risk associated with the purchase of the Auction Product, include the associated risk of loss and title as set forth herein.
REMOVAL OF PRODUCTS
NTWRK may remove a Product listing or live show Auction Products without any notice if, in NTWRK’s sole discretion (i) there is doubt as to the accuracy of the Product information, (ii) there is doubt about the authenticity or legitimacy of the Seller, or the validity of the Seller’s business or Product, (iii) there is doubt as to clear title or ownership, including ownership of intellectual property, of the Product, or (iv) such Product offering may expose NTWRK to potential liability or the threat of litigation. NTWRK shall not have any liability for removal of property under this section.
BIDDING, BUYING AND CONDITIONS OF SALE
The rules for how bids are accepted, bid increments, bid retraction and cancellation, the conditions user must meet to purchase a Product, as well as the specific conditions of sale may change for each Auction.
Manual Bidding
Manual bidding is a bidding method that lets Bidders customize and set their own bid during a live show Auction. This differs from automated bid strategies, which sets bid amounts for you. Manual bidding gives Bidders control to customize each bid the Bidder places on an Auction Product.
Automatic Bidding
Automatic bidding is a bidding method that allows Bidders to quickly place a bid on an Auction Product where the price the Bidder bids is determined by the current bid price for the Auction Product. Through NTWRK’s automatic bidding process, when Bidders place a bid, the Bidder enters the maximum amount that they are willing to pay for the Auction Product (“Maximum Bid”). The amount the Bidder enters can be the next minimum bid indicated on the live show Auction page or any greater amount.
When you enter a Maximum Bid, the system will automatically place a bid for you at the amount of the next minimum bid, according to our automatic bidding increments. As the Auction continues, the system will continue to bid automatically for you by increments, up to your Maximum Bid, only as much as necessary to maintain your position as the highest bidder.
The increments are based on the current bid of each Product and increase at the following intervals, when the current bid is:
- <$20: Increment by $1
- <$20 to $50: Increment by $2
- $50 to $100: Increment by $5
- $100 to $500: Increment by $10
- $500 to $1000: Increment by $20
- $1000 to $2000: Increment by $50
- $2000 to $4000: Increment by $100
- $4000 to $8000: Increment by $200
- $8000 and above: Increment by $300
NTWRK reserved the right modify, add or remove bidding increments at our sole discretion at any time before, during or after any Auction.
All Bids are Final
Once you have participated in an Auction, placed a bid on the Auction Product, and your bid is confirmed on the NTWRK Services, your bid cannot be withdrawn, except in cases where the completion of the transaction would violate any applicable laws or in cases of fraudulent purchase arising from the theft and unauthorized use of a third party's credit card information.
Bidder’s Responsibility
Each Bidder that places a bid is required to complete the transaction if they place the winning bid (or their bid is otherwise accepted), as a bid is a legally binding commitment to purchase the Auction Product if the Bidder is the winner of the Auction. When you place a bid on any Product, you are accepting personal liability for the purchase price, any applicable taxes, any and all shipping costs, and all other applicable charges in accordance with these Terms.
PURCHASE TERMS
At the close of the Auction, the winner of the Auction (i.e., the Bidder with the highest bid as of the Auction close) will be announced to the Seller hosting the Auction, Bidders partaking in the Auction, and Viewers viewing the Auction. Immediately at the time of Auction close, the transaction for the Auction Product should automatically be processed based on the winning Bidder’s default shipping destination and payment method on file. Winning Bidders will be charged the total amount of the transaction, which includes the purchase price plus all applicable fees as set forth herein and on the NTWRK Services.
Failure to Purchase
If you are the winning Bidder and the transaction fails to process at the conclusion of an Auction, whether due to a declined or expired payment method or otherwise, you will be prompted to complete the purchase for the Auction Product by either reviewing the default payment method on file or providing an alternative valid payment method in an attempt to process the transaction.
If the reprocess attempt is unsuccessful, you will have three (3) days to resolve the processing issue and provide a valid payment method. During this time period, you are blocked from participating in any Auctions on the NTWRK Services until you complete the purchase and the transaction is processed. If within this three (3) day window, you do not provide information sufficient to allow for the transaction to be processed, or the Seller does not cancel the transaction before you provide a valid payment method, NTWRK may terminate your use of the NTWRK Services and/or deactivate your account.
If an effort to assist with fulfillment of the purchase, NTWRK may provide Sellers with your order information (which may include, customer name, email address, shipping address, phone numbers, and/or other order fulfillment information). Any personal information Sellers receive may only be used for NTWRK-related communications and for NTWRK-facilitated transactions on the Platform. If you use the NTWRK Services to bid in an Auction, you agree that we may provide Seller with your order information, and the Seller may contact you about your participation in that Auction. Your use of any and all Communications is subject to our Privacy Policy.
Auction Indemnification
You shall be responsible for and agree to defend, indemnify, and hold NTWRK, its shareholders, members, partners, officers, directors, employees, agents, parent company, subsidiaries, affiliates, joint venturers, successors and assigns, harmless from, and against, any causes of action, suits, claims, demands, judgments, liabilities, losses, damages, awards, penalties, fines, costs and expenses (including, but not limited to, reasonable attorney's fees), arising out of, relating to, or resulting from, any Action(s) you purchased Product(s) through as the winning Bidder and/or attempted to purchase Product(s) through, and all transactions, whether attempted, invalid, completed or uncompleted in association therewith.