Notes for the Purchaser

Basic Matters

1. STAR BUYERS HK AUCTION (hereinafter referred to “Auction”) is an auction by bidding where each of the participants as a potential purchaser is required to register as a member.
2. For participating in the Auction, the purchaser is required to consent to this Special Agreement.

Rules of Auction

Auction (Bid through the Internet)

1. The Auction will be conducted on the Auction website (Hereinafter referred to the “website”） where bidders bid up their desired bidding price.
2. We will conduct the Auction at our sole discretion and determine the increment of each successive bid, at our sole discretion.
3. When making a bid from the online auction, please confirm the following notes of precaution and take cautious steps when making bids:
   1. If there are two or more bids at the same price, the bids will be accepted in the order of arrival;
   2. We will not accept any cancellation of bids or any negotiations after you have made a bid. Please make sure to check the confirmation screen before placing a bid;
   3. After successful bid of the goods, payment must be made by bank transfer or cash to our designated bank account or our office within three (3) business days of the day when the results of the Auction are posted to the website. For all the cash payment, member must provide the following documents in advance for us to conduct customer due diligence and record keeping, failure to provide any of the following documents are not allowed to settle the payment by cash,
      1. Payer’s identity document
      STAR BUYERS HK AUCTION reserves all the right to adjust above requirements or decline any cash transactions and cash payments.
4. We will not accept any cancellation after successful bid.
   1. Condition of goods depends on the description (including images).
   2. We will not guarantee anything other than the contents listed in the description, and we do not accept any claims about the contents that can be confirmed from description.
   3. If you purchase without preview, we will not give any guarantee.
   4. We will not accept any claims about the goods that has been physically examined at the preview event.

Auction Goods

1. We will provide those who wish to participate in the Auction with information on the goods that are scheduled to be put up at the Auction through the website.
2. Pictures, description and conditions of the auction goods (hereinafter referred to as “Goods Information”) will be upload on the website.
3. We will place accurate Goods Information on the website in accordance with our standard. Should there be any mistakes in the Goods Information, we will discuss separately and determine how to handle such mistakes.
4. We will not accept any claims relating to the Goods Information provided, however, that we will discuss separately the matters not stipulated in the Goods Information.
5. Member may purchase pictures on the GSBA site only for goods which he had won, for the price shown in Appendix 2. Once purchased, no refund for the pictures for any reason unless the winning item is entitled for refund at Seller’s fault. The copyright of the picture remains on STAR BUYERS HK AUCTION, and the Buyer may only use the purchased picture for reselling the particular goods.
6. About sale of auction item’s photo and video
   1. Buyers can purchase the auction item’s photos and videos posted on the STAR BUYERS HK AUCTION for their winning items only.
   2. Price for video and photo (1 set): USD 5* per purchase item (subject to change)
   3. The usage of the pictures and videos are only for re-selling of the particular product.
   4. An additional document will be provided and required to sign as an acknowledgement to restrain the re-selling of particular product. STAR BUYERS HK AUCTION reserves the copyright of all pictures and videos.
   5. We will refund of the pictures and videos only when the purchased items are returned. Buyers are required to destroy the images data upon the returning of the purchased items.
   6. If a valid receipt cannot be provided and such return does not comply with our terms and conditions, STAR BUYERS HK AUCTION reserves the right to decline such return request.
   7. Except for the above, once purchased videos and photos cannot be returned or refunded.

Payment

The purchaser's commission fee payable to us is as specified below.

1. For Diamond: 5% of the successful bid price.
2. Payment of the total successful bid price should be made within three (3) business days after the results of the Auction are posted to the website. Once we confirm your payment, we will ship the goods.
   *In case we cannot confirm your payment after three (3) business days, we have the right to void the transaction and we also have the right to revoke your membership.
3. The purchaser needs to register the name of person who will make the bank transfer on the website before payment.
4. If there is discrepancy in the registered name and the name of the person who actually makes the bank transfer, we will, at the cost of the person making the payment, return the full amount of such payment back to such person’s account. The registered person will still be required to make the bank transfer of such amount.
5. The purchaser will bear the bank transfer fee for the transfer of fund for payment of the successful bid price.
6. The purchaser will bear the shipping fee (goods insurance, when necessary), customs duty, bank transfer fee and other charges relating to goods purchased by the successful bid in the Auction.
7. Currency that may be used for payment: USD only.
8. Custom duties or other import tax and custom clearance fee may be imposed on your purchased goods at the customs clearance of the country you receive the Goods. As policies relating to tax or custom clearance fee differs country from country, please check with the country where you intend to receive the goods for more details.
9. If buyer fails to settle full amount of invoice within the payment deadline, STAR BUYERS HK AUCTION will record and issue a warning.
10. For buyer with overdue payment record, STAR BUYERS HK AUCTION reserves the right to charge that buyer a deposit payment
    * before allowing him / her to participate the next auction.
    * The deposit charge will be decided according to the buyer's previous invoice amount, STAR BUYERS HK AUCTION will contact buyer individually.

Others

1. Goods placed on the website may be changed without advance notice, due to various reasons. Such as info discrepancy (including diamond details, close date and time or starting price), photo missing or mismatch photos.
2. No shipment of goods violating the Washington Convention will be made.

Notes for the Seller

Basic Matters

1. The Auction is by bidding where each of the participants as potential purchasers is required to register as a member.
2. For participating in the Auction, the purchaser is required to consent to this Special Agreement.
3. The seller agrees to this Special Agreement by sending us the designated application form. This Special Agreement applies to the sale of goods to be carried out on a consignment basis. The sales commission agreements between the seller and Auction will be finalized only if we find the contents of such application appropriate.

Auction Goods

1. When you wish to put up goods for auction, please apply from the website by stating the category and number of items.
2. Please send or bring the goods that you wish to put up for auction to our office after contacting us in advance. The seller will bear the transportation costs. In regard to consignments items, the seller is required to enter the required information to the “Consignment Seller List” prescribed by us, and send such data to the staff member by email.
3. We will not accept any goods without advance notice.
4. We will not be responsible for any failure or delay or damage or loss or any other incidents that is beyond our reasonable control that occur during delivery.
5. Goods are required to have a name tag to enable us to match it with the “Consignment Seller List”. Please take necessary steps to ensure that the goods arrive within the period stated in Appendix 2. If the delivery goods are delayed or the goods are unidentifiable from the List, we may refuse to put them in the Auction.
6. After arrival of the goods, we will inspect such goods and if we judge that the goods delivered are below our standard or the estimated successful bid price is below the standard for the Auction, or is deemed not appropriate to put to the Auction, we may cancel them from being put to the Auction and arrange returning the goods back to you within seven (7) business days after the close of the Action.
7. There is no limit on the number of goods you may put to the Auction; provided, however, that we may refuse to accept further goods if the number of goods to be put to the Auction at each auction reaches the scheduled number.
8. If you wish to cancel your goods from being put to the Auction for certain reasons, please contact our office staff member prior to the start of each tournament of the Auction in which such goods are scheduled to appear. We will not accept any request of withdrawal after the start of the Auction. Please note that such cancelled goods will only be returned within three (3) business days after the close of the Auction. A listing fee of 5 USD and an unsuccessful bid fee will be charged even if the goods are cancelled as stipulated in Appendix 2.
9. The successful bid price of goods will be determined by “market value” in which the evaluation of the goods and market making will be left to the discretion of the Auction participants; provided, however, that if you have any request in the reserved price (hereinafter referred to as the “Reserve Price “), please enter the Reserve Price in the amount column of the “Consignment Seller List”. The Reserve Price for each category will be specified in Appendix 2.
   Any goods without the Reserve Price will be deemed purchased at the maximum bid price at the Auction.
10. If we determine that the Reserve Price will significantly exceed an expected successful bid price, we may ask the seller to change such the Reserve Price prior to the Auction. If the seller refuses to change such Reserve Price, we may cancel the goods from being put to the Auction.
11. The seller will be responsible for shipping costs, import duties and other similar charges relating to the returning of cancelled goods, unsold goods, etc.

Instruction by Goods Category

[Diamond]

1. Please make sure to enter the details of goods (including the item Carat, Color, Clarity, and Cut etc.) in the “Consignment Seller List”. If there is discrepancy between the actual goods and the information in the “Consignment Seller List”, the seller shall be responsible for such discrepancy.
2. Once we received the items from the consigner, we will inspect the items before list the items on our platform.
3. As regards the standard of goods to be put to the Auction and the standard of Reserve Price, please check the contents specified in Appendix 2.

Others

1. Rules and regulation of Auction consignments
   All consigned products shall follow our company standards to determine whether it is suitable for the Auction, and the company standards are shown below.
   1. Products which are prohibited by the laws;
   2. Products which are inappropriate according to the common morals;
   3. Products which are obtained through illegal means such as stolen products, lost products etc.;
   4. Products which are out of our defined categories or cannot be classified;
   5. Products which do not fit for our Auction concept;
   6. Other products which we consider inappropriate and unsuitable.
2. For Unsuccessful bid products
   1. All unsuccessful bid products will be shipped out after closing of the Auction within 30 business days.
   2. All charges including shipping fee, insurance and customs tax shall be borne by the Seller.

Appendix 1[Auction outline]

■ Entry fee

Free.

■ Bidding commission

Diamond:5%

■ Item’s photo and video

Price for video and photo (1 set): USD 5* for each (*may subject to change)

Appendix 2 [Guidance to put up Goods for the Auction]

1. Please apply for the category and number of items on the website. Due date for application at our website is 30 days before auction date.
2. Please send us an email with the description of the item listed for the Auction and include the following:
   ■ Application Period
   ■ Reservation Period
   ■ Reserve Price
3. Submission due date of Consignment item is 20 days before the first day of preview.
4. Please create a simple tag and attach it to the product so that we are able to verify the product with the listing.

■ Application Period(Goods)

Due date of goods delivery (i.e... the date on or before which the product shall arrive at the Valuence International Ltd. Hong Kong office) is 14 days before the first day of preview date.
* Please write month, week, genre of the auction on the shipping slip.
* The shipping cost will be borne by the seller.

■ Exhibition rules

1. We will accept only items which come with sorting OR certificate. As for type of certification, please contact us for further clarification if required.
2. Items clarification for consignment
   0.500CT～0.999CT SI UP
   1.000CT and above I1 UP
   
If seller wants to keep a reserve price, that will be the start price of auction.
*** We don’t accept melee as consignment items.
We will return the goods that we consider not meeting the above requirements. We do not bear/refund any shipping charges for such return.

■ Selling fee

Selling fee: 5 % will be charged based on the winning bid amount.
Listing fee: 5USD per items.
Unsuccessful bid fee: 0.5％USD will be charged based on your Reserve price.

Update Date: 2024/1/11