TERMS & CONDITIONS

1. Registration

1.1. Bidders must be at least 18 years old and register through the IPK Auctions website before participating in an auction.

1.2. IPK may request proof of identity, address and other relevant information to verify registration and comply with applicable legal requirements.

1.3. Bidders are responsible for maintaining the security of their accounts and the accuracy of their registration details.

1.4. IPK reserves the right to refuse or suspend bidding privileges for legitimate reasons, including suspected fraud, previous non-payment or breach of these Terms.

2. Description and Condition of Goods

2.1. Most goods offered for auction are second-hand and may show signs of age, use, wear, damage or restoration.

2.2. IPK makes reasonable efforts to ensure that photographs and descriptions are accurate. However, descriptions of age, condition, authenticity, origin, attribution or value may include estimates or opinions based on available information.

2.3. Electrical and mechanical items should be considered untested unless expressly stated otherwise.

2.4. Buyers are encouraged to inspect goods before bidding. Viewing dates, times and locations will be published for each auction, with examination periods provided in accordance with Portuguese law.

2.5. Goods are offered in their existing condition, subject to their description and any applicable statutory rights. Nothing in these Terms excludes liability for material misdescription, fraud or rights that cannot lawfully be excluded.

3. Online Bidding

3.1. All bidding is conducted exclusively through the IPK Auctions online platform. No telephone, postal or in-person bids are accepted.

3.2. Bidders may enter a Maximum Bid, allowing the system to bid automatically on their behalf up to their specified limit.

3.3. The system increases bids according to the applicable bidding increments, competing offers and any Reserve Price.

3.4. Where a Reserve Price applies, the first Maximum Bid may raise the displayed price up to the lower of the bidder's maximum or the reserve plus the applicable increment, in accordance with the platform's bidding rules.

3.5. A Maximum Bid may be increased but cannot be reduced. Bids submitted through the platform cannot be withdrawn, in accordance with Portuguese electronic auction rules, without prejudice to any mandatory legal rights following the sale.

3.6. Where competing Maximum Bids are equal, priority will be determined by the platform's recorded bidding sequence and published bidding rules.

3.7. All bids are expressed in euros (€) and exclude the Buyer's Premium and applicable taxes unless expressly stated otherwise.

3.8. Sellers, IPK administrators and other legally prohibited persons may not bid on lots in which they have a prohibited interest. Artificial, fraudulent or collusive bidding is strictly prohibited.

4. Auction Closing Times

4.1. Each auction will have a published opening and closing date and time, announced in accordance with applicable Portuguese law.

4.2. If a valid bid is placed during the final two minutes before a lot closes, its closing time will automatically be extended by two minutes.

4.3. Further valid bids within the final two minutes will trigger additional two-minute extensions.

4.4. The lot will close when the applicable bidding period expires without another qualifying bid.

4.5. The platform's electronic records will determine bidding times and sequence, subject to correction of proven material errors.

5. Winning Bids and Reserve Prices

5.1. The highest valid bidder at the close of the auction will be the successful Buyer, provided that any applicable Reserve Price has been met.

5.2. If the Reserve Price is not reached, the lot will remain unsold and no purchase obligation arises from that auction result.

5.3. IPK may withdraw a lot before sale, suspend an auction or correct or repeat an affected sale where justified by a material error, technical failure, fraud, ownership dispute or other legitimate legal reason.

5.4. Auction results and adjudication prices will be published in accordance with Portuguese law.

6. Buyer's Premium and VAT

6.1. A Buyer's Premium is payable in addition to the final bid price, also referred to as the Hammer Price.

6.2. The applicable Buyer's Premium is determined separately for each auction and will be clearly stated in that auction's specific conditions before bidding begins.

6.3. VAT will be applied to the Buyer's Premium and, where applicable, to the goods, in accordance with Portuguese tax legislation.

6.4. Buyers are responsible for reviewing the auction-specific commission, taxes and total potential purchase cost before placing a bid.

7. Payment

7.1. Successful Buyers will receive an invoice or payment request following the auction.

7.2. Payment must be made in full by the deadline specified in the individual auction conditions.

7.3. Online card payments are processed securely through Stripe. Other payment methods may be accepted where expressly authorised by IPK.

7.4. Goods will only be released after full payment has been received and confirmed.

7.5. Failure to pay within the specified period may result in cancellation of the purchase, suspension of future bidding privileges and recovery of reasonable, legally recoverable losses or expenses.

8. Collection of Goods

8.1. Collection dates, times and locations will be stated in the specific conditions of each auction.

8.2. Buyers are responsible for arranging and paying for the collection and transportation of their purchases.

8.3. Unless expressly agreed otherwise, IPK does not provide packing, dismantling, loading, transportation or delivery services.

8.4. Buyers must arrange suitable vehicles, equipment and sufficient assistance for large, heavy or fragile items.

8.5. Buyers are responsible for damage caused by themselves or persons acting on their behalf during collection.

8.6. Goods must be collected within the announced collection period, unless alternative arrangements have been agreed with IPK.

9. Failure to Collect

9.1. Buyers who are unable to collect within the specified period should contact IPK as soon as possible.

9.2. IPK may, where reasonably possible, arrange an alternative collection date or other appropriate solution.

9.3. IPK does not impose automatic daily late-collection penalties or daily storage charges.

9.4. Where goods remain uncollected, IPK may notify the Buyer and take reasonable and legally permitted steps to resolve the situation, including arranging removal or storage where necessary.

9.5. Any recovery of expenses will be limited to actual, reasonable and legally recoverable costs arising from the Buyer's failure to collect.

9.6. Failure to collect does not automatically transfer ownership of the goods to IPK or permit their disposal without a lawful basis.

10. Ownership and Risk

10.1. Ownership of goods will pass in accordance with applicable law, subject to full payment where a valid retention-of-title arrangement applies.

10.2. Goods may not be removed until the required payment has been confirmed.

10.3. Responsibility for loss or damage passes in accordance with applicable law, including mandatory consumer protection rules.

10.4. Following collection, the Buyer is responsible for the handling, transportation and storage of the purchased goods, except where liability remains with another party under applicable law.

11. Returns and Consumer Rights

11.1. The rights of Buyers depend on the legal status of the Seller and the applicable legislation.

11.2. Where goods are sold by a private individual acting outside a business or professional activity, the statutory 14-day withdrawal right applicable to professional distance sales does not ordinarily apply.

11.3. Where goods are sold by a professional trader to a consumer, applicable statutory consumer rights, including any legally required 14-day right of withdrawal, will be respected.

11.4. Where that right applies, the consumer may exercise it by sending a clear withdrawal request to info@ipk.pt within 14 days of receiving the goods. The applicable procedures, deadlines and return costs will be disclosed before bidding.

11.5. Goods sold through online auctions remain subject to any applicable legal protections concerning conformity, material misdescription, fraud and other statutory rights.

11.6. Nothing in these Terms removes or restricts consumer rights that cannot legally be excluded.

12. Ownership and Authority to Sell

12.1. The Seller warrants that they are the lawful owner of the goods or are properly authorised to sell them.

12.2. The Seller warrants that the goods may be sold free from undisclosed third-party claims, liens or other restrictions.

12.3. The Seller must provide accurate information concerning the goods, including any known defects, damage, missing parts, repairs or relevant issues affecting their condition or authenticity.

12.4. The Seller must disclose whether they are acting as a private individual or in the course of a business or professional activity.

12.5. The Seller is responsible for the accuracy of the information supplied to IPK, without prejudice to IPK's own legal duties.

13. Seller Commission and Payment

13.1. Seller commissions and any additional charges will be agreed separately in a written Auction Services Agreement between IPK and the Seller.

13.2. IPK is authorised to deduct agreed commissions and charges from the proceeds of sale where legally permitted.

13.3. Seller payments will be made following receipt of cleared funds from the Buyer and in accordance with the Seller Agreement and applicable Portuguese law.

13.4. IPK does not guarantee that any item will be sold or that a specific selling price will be achieved.

14. Availability and Collection of Goods

14.1. The Seller must ensure that goods entered into an auction remain available for inspection, sale and collection as agreed with IPK.

14.2. The Seller must not remove, substitute, privately sell or materially alter goods committed to an auction without IPK's agreement.

14.3. Where goods are located at a private property, the Seller must provide reasonable access for the agreed viewing and collection arrangements.

14.4. The Seller must notify IPK immediately of any change affecting the availability, ownership or condition of the goods.

15. Responsibility of IPK Auctions

15.1. IPK acts as auctioneer and, unless expressly stated otherwise, as agent for the Seller.

15.2. IPK undertakes to conduct its auctions with reasonable care, diligence, impartiality and transparency.

15.3. IPK is not responsible for an independent breach of contract by a Buyer or Seller, except where IPK is itself legally liable.

15.4. IPK may take reasonable steps to protect the integrity of an auction, including investigating suspicious bidding, technical problems or material catalogue errors.

15.5. Nothing in these Terms excludes or limits liability that cannot lawfully be excluded.

16. Data Protection

16.1. IPK processes personal information in accordance with applicable Portuguese data protection law and the General Data Protection Regulation (GDPR).

16.2. Information may be used for registration, identity verification, auction administration, payment processing, legal compliance and fraud prevention.

16.3. Further information is available in the IPK Auctions Privacy Policy.

17. Complaints and Consumer Dispute Resolution

17.1. Complaints relating to IPK Auctions should initially be submitted to info@ipk.pt.

17.2. IPK Auctions, operated by IPK LDA, is registered with and has accepted the consumer dispute resolution procedures of:

CIMAAL — Centro de Arbitragem de Conflitos de Consumo do Algarve

Website: https://consumoalgarve.pt/

Email: info@consumoalgarve.pt

Telephone: +351 289 823 135

17.3. Consumers may refer eligible disputes to CIMAAL for mediation or arbitration in accordance with its rules and applicable Portuguese law.

17.4. Consumers may also submit complaints through the Portuguese Electronic Complaints Book:

https://www.livroreclamacoes.pt/

17.5. The competent supervisory authority for compliance with Portuguese auction legislation is:

ASAE — Autoridade de Segurança Alimentar e Económica

17.6. Nothing in these Terms restricts access to legally competent courts or other mandatory consumer dispute resolution procedures.

18. Applicable Law

18.1. These Terms & Conditions are governed by Portuguese law.

18.2. Any disputes shall be submitted to the legally competent courts, subject to applicable consumer protection and dispute resolution legislation.

18.3. The Portuguese version of these Terms shall be the reference version, without prejudice to mandatory legal protections.

18.4. IPK may update these Terms from time to time. Changes will not retrospectively remove rights established under previously concluded transactions.