1.1 “Watch
Farm” / “we” / “us” and “our” means The Watch Farm Hong Kong Limited.

1.2 Our
registered address is The Watch Farm Hong Kong Limited, Unit 2006, 20/F, New World Tower 1, 16-18 Queen's Road, Central &nbsp;Hong Kong.

2.1
These Terms explain how you may use this website www.watchfarm.com.hk (the
“Site”). Additional to these Terms, the following terms apply to your use of
the Site:

2.2 Our
privacy policy is available here. which sets out the terms on how we
handle your personal information; and

2.3 Our
cookie policy is available&nbsp;here, which sets out information about
the cookies on our Site.

2.4 You
should read these Terms carefully before using the Site.

2.5 By
accessing or using the Site or otherwise indicating your consent, you agree to
be legally bound by these Terms and the documents referred to in them.

2.6 If
you do not agree with or accept any of these Terms, you should stop using the
Site immediately.

2.7 If
you have any questions about the Site, or you would like to make a complaint
about our services, please contact us by e-mail on:&nbsp;<a href="mailto:enquiry@watchfarm.com.hk">enquiry@watchfarm.com.hk</a>

2.8 Where we have received a complaint by you in relation to our
services, we shall acknowledge your complaint within two (2) working days and
subsequently conduct&nbsp;reasonable
investigations into it. If, after such investigation, we establish that there
may be an issue with our services, we shall, at our sole discretion, either:

2.8.1
take steps to remedy the defect in our services; or

2.8.2
where you have already paid our fees in accordance with clause 11, refund you a
fair proportion of those fees paid; or

2.8.3
where you have not already paid our fees in accordance with clause 11, charge
you a fair proportion of fees (include no fees, where reasonable).

2.9 If
you’ve contacted us and you feel that we haven’t resolved your complaint
satisfactorily, please email or write to us at:

Email:&nbsp;<a href="mailto:enquiry@watchfarm.com.hk">enquiry@watchfarm.com.hk</a>

The Watch
Farm Hong Kong Limited, The Star, Unit 107, 1/F, 16-18 Yip Shing Street, Kwai
Chung, Hong Kong

3.1 “Auction
Lot” means any lots listed on the Site including Watches and Collectibles.

3.2 “Buyer”&nbsp;means
a person who registers with us and is accepted to submit bids for the purchase
of an Auction Lot;

3.3 “Buy
Now” means the process described in clause 11.6

3.4 “Content”&nbsp;means
any text, images, video, audio or other multimedia content, software or other
information or material submitted to or on the Site;

3.5 “Live
Auction” has the meaning given to it in clause 6.3

3.6 “Seller”
means the person who registers with us and is accepted to list a Auction Lot
for sale;

3.7 “Site”&nbsp;has
the meaning given to it in clause 2.1;

3.8 “Terms”&nbsp;means
these terms and conditions of use as updated from time to time under clause 22;

3.10 “you”&nbsp;means
a Buyer or a Seller or any other person accessing, browsing or using the Site
or its Content (and “your” shall have the same meaning).

4.1 We
only provide a platform for a Seller to list their Auction Lot for sale and a
Buyer to bid on an Auction Lot with the intent of purchasing such Auction Lot.
We do not act as agent of the Seller. We are not involved in the contracting
process nor are we a party to the sale contract between the Buyer and the
Seller.

4.2 You
agree that you are solely responsible for all costs and expenses you may incur
in relation to your use of the Site.

4.3 We
may prevent or suspend your access to the Site if you do not comply with any
part of these Terms, any terms or policies to which they refer or applicable
law.

4.4 As
a condition of your use of the Site, you agree:

4.4.1
not to use the Site for any purpose that is unlawful under any applicable law
or prohibited by these Terms;

4.4.2
not to use the Site to commit any act of fraud;

4.4.3
not to use the Site to distribute viruses or malware or other similar harmful
software code;

4.4.4
not to use the Site for purposes of promoting unsolicited advertising or
sending spam;

4.4.5
not to use the Site to simulate communications from us or another service or
entity in order to collect identity information, authentication credentials, or
other information (‘phishing’);

4.4.6
not to use the Site in any manner that disrupts the operation of our Site or
business or business of any other entity;

4.4.7
not to use the Site in any manner that harms minors;

4.4.8
not to promote any unlawful activity;

4.4.9
not to represent or suggest that we endorse any other business, product or service
unless we have separately agreed to do so in writing;

4.4.10
not to use the Site to gain unauthorised access to or use of computers, data,
systems, accounts or networks; and

4.4.11
not to attempt to circumvent password or user authentication methods.

4.4.12
not to use the site to sell counterfeit goods

5.1 The
Site is available for users if you are at least 18 years old. In order to use
the Site as a Buyer or Seller you must first register, and you will need to
provide at least the following information:

5.1.5
such other information as may be requested at signup.

5.2 For
a Seller, you must confirm that you have legal ownership of the Auction Lot.

5.3 If
you choose, or you are provided with, a user identification code, password or
any other piece of information as part of our security procedures, you must
treat such information as confidential. You must not disclose it to any third
party.

5.4 We
have the right to disable any user identification code or password, whether
chosen by you or allocated by us, at any time, if in our reasonable opinion you
have failed to comply with any of the provisions of these Terms.

5.5 If
you know or suspect that anyone other than you know your user identification
code or password, you must promptly notify us.

LISTING
A AUCTION LOT FOR SALE ON OUR SITE

6.1 You
first submit a request and upload photos and related information on the Auction
Lot. Further information can be found in our&nbsp;FAQ.

6.2 Watch
Farm will consider the proposed Auction Lot and confirm if the Auction Lot is
accepted to be listed on the Site. There will be a pre-auction period where you
will need to wait for the Auction Lot to go live.

6.3
After the Auction Lot is accepted for listing, you shall be committed to have
the Auction Lot listed with us exclusively for at least a 7- to 14-day auction
(a “Live Auction”). This means that during this period, you shall not use
another means of sale unless we agree and notify you in writing of our consent.

6.4 You
can require a reserve for the Auction Lot. Further information can be found in
our FAQs. 

6.5 Watch
Farm gives no warranty or representation as to the anticipated or likely
selling price of any Auction Lot. Any estimate given, whether written or oral,
as to the estimated selling price of any Auction Lot is a statement of opinion
only and may be subject to revision from time to time at Watch Farms’ sole
discretion and should not be relied upon as an indication of the actual selling
price.

6.6 In
the event the Seller is deemed to have waived the reserve and will accept the
Buyer’s highest bid, Watch Farm accept no responsibility and will remove the
reserve set by the Seller.

6.7 If
you are a Seller listing an Auction Lot for sale, you are solely responsible
for the factual accuracy of, and for any judgments or opinions expressed in,
the description of each Auction Lot entered by you, and for any error,
misstatement or omission of information in that description, as well as the
condition, authenticity and quality of the Auction Lot. If you are a Seller you
represent and warrant that you are the legal owner of the Auction Lot and free
to sell the Auction Lot listed on the Site and that the sale to the successful
Buyer will be free of any charges or encumbrances and transfer legal ownership
to the Buyer.

6.8 If
you as the Seller withdraw your Auction Lot from sale, or from the Coming Soon
list, you will be obliged to pay the ‘Minimum Fee’s’ to The Watch Farm Hong
Kong Limited.

7.1 The
description of the Auction Lot is, to the best of the Seller’s knowledge,
accurate and not misleading. The Seller has notified (or will before the Live
Auction notify) Watch Farm in writing of any material alterations to the
Auction Lot of which the Seller is aware, and of any concerns expressed by
third parties in relation to the authenticity, provenance, origin, age,
condition or quality of the Auction Lot, and has provided Watch Farm with all
such information in the Seller’s possession or control.

7.2
While Watch Farm does perform some verification processes, Watch Farm shall not
be liable to the Seller or the Buyer for any error or misstatement in or
omission from the description of any Auction Lot where Watch Farm has:

7.2.1
provided the Seller with a copy of the description within a reasonable time
prior to the Live Auction; and

7.2.2
neither the Seller nor any person on his behalf has notified Watch Farm in
writing within a reasonable time before the Live Auction of any error or
misstatement in or omission from the description, and Watch Farm may treat that
description as accepted by the Seller.

7.3 Watch
Farm has no duty to the Seller or the Buyer to investigate the accuracy of the
description of any Auction Lot provided by or on behalf of the Seller.

7.4 If
a sale is lost because of the failure of the Seller to disclose to Watch Farm
all information which may reasonably be expected to affect the provenance,
title, value or any other aspect of the Auction Lot, the Seller shall pay the
fees to Watch Farm in accordance with clause 6.8.

7.5 The
Seller gives Watch Farm the full and absolute right to photograph and
illustrate any Auction Lot consigned for sale, and to use such photographs and
illustrations at any time at its absolute discretion (whether or not in
connection with the Live Auction).

7.6
Photographs and illustrations used for the Auction Lots are for identification
purposes only. They may not show the true condition and colour, (which may be
inaccurately reproduced) of the Auction Lot.

7.7
Estimates and descriptions for the Auction Lots may be amended at Watch Farms’
discretion from time to time by notice to the Seller given orally or in writing
before or during a Live Auction.

8.1 If
you are a Buyer bidding for an Auction Lot (or making an offer on an Auction
Lot in the Buy Now period — throughout these Terms the word “bid” shall include
making an offer in the Buy Now period) you acknowledge that it is your
responsibility to:

8.1.1
arrange an inspection of an Auction Lot you intend to bid on.

8.1.2
check the accuracy of your bids, all bids are made at your own risk.

8.1.3
independently determine the description, ownership, value, condition,
authenticity and quality of the Auction Lot.

8.1.4
pay for any logistic (shipping and delivery) costs associated with your
purchase of an Auction Lot and associated fee’s with the transfer of ownership.

8.2 As
a Buyer you agree that each bid submitted for an Auction Lot is:

8.2.1 a
legally binding obligation by you.

8.2.2
that you are making an irrevocable offer to purchase that Auction Lot and you
shall pay to the Seller the final amount of your highest bid.

If you
as the successful Buyer fail to complete the purchase of the Auction Lot
(including failing to pay to the Seller the final amount of your highest bid
within the timeframe agreed with the Seller) for any reason other than the
default of the Seller, you will be obliged to pay the fees to Watch Farm in
accordance with clause 11. Watch Farm will attempt to sell the Auction Lot to
an underbidder with the approval from the Seller.

8.3 If
your bid is successful, subject to achieving any reserve required by the Seller
unless the reserve is waived by the Seller, you will pay to the Seller the
final amount of your highest bid within 7 working days of the auction ending
unless otherwise agreed with the Seller. If you do not make payment in full to
the Seller within the 7 working days, or within the timeframe agreed with the
Seller, you will lose the right to purchase the Auction Lot. The Buyer will be
responsible for the fee’s payable to Watch Farm and will not be refundable.

8.4 It
is for the Buyer and Seller to agree a suitable payment method for the Auction
Lot.

8.5 Watch
Farm may at its discretion remove any bid made by a Buyer bidding for an
Auction Lot if:

8.5.1
you have not provided us with a valid payment method for our fees, either
because we could not pre-authorise your payment card, or for any other reason.

8.5.2
you have made a clear typographical error.

8.5.3
we believe the Seller is bidding for the relevant Auction Lot, or we believe
you are bidding on behalf of the Seller; or

8.5.4
you did not pass one or more of the background checks we have made on you.

AUCTION
PROCESS AND SALES OUTSIDE WATCH FARM

9.1 We
have the right, at our absolute discretion, to withdraw any Auction Lot from
the Coming Soon List or a Live Auction, whether the Auction Lot has a reserve
or not. We are not required to provide any reason for exercising this right of
withdrawal. We have the right to re-run any Live Auction (for a shorter period)
and offer for sale again any relevant Auction Lot, if in our absolute
discretion it is in the best interests of Buyers and the Seller due to delays,
interruptions or errors having affected the original Live Auction.

9.2
Buyers and Sellers shall not engage in any activity designed to complete or
facilitate a transaction for the sale or purchase of an Auction Lot outside of
the Site. If any sale of an Auction Lot is concluded outside of the Site in any
event the Seller will be obliged to pay the fees to Watch Farm in accordance
with clause 11 that would have been paid had the Auction Lot been sold via the
Site, calculated on the last reserve you agreed with Watch Farm or if none Watch
Farm’s minimum fee schedule.

10.1
Any dispute with respect to the sale of any Auction Lot shall be resolved
between the Buyer and Seller and without the participation of the Watch Farm.