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Terms and conditions

 

About us

We are PRAGMA LLC, a company registered in the Republic of Latvia under company number 40203136893, VAT number: LV40203136893, with legal address    Babites nov., Babites pag., Brivkalni, Dambju iela 2, LV-2107 and address of correspondence Riga, Grecinieku street 30-702, LV-1050 ("we", "our", "us" or "pragmavaluables.com"). If you wish to contact us, you can contact us by e-mailing us at legal@pragmavaluables.com or calling +37127014233.

 

These Terms&Conditions sipulate also consignment terms, whereas you can consign your valuables for the sale of them on the auction platform (see below section “CONSIGNMENT - SELL WITH US”)!

 

Payment Terms

Please take note that your credit card may be charged 4 days after the auction. All major credit cards accepted, Pay Pal also. Please note that we will not accept Credit/Debit Card payments for any transaction for an Invoice that exceeds EUR 10’000,00 - such transactions are only accepted by Bank Wire Transfers. Please be informed that for any transactions exceeding EUR 10’000,00 our team will ask you to provide additional information in connection with the section these terms “Anti-money laundering and terrorism and proliferation financing”. Total charges for the lot won at an auction are set out in the confirmation e-mail.

Shipping

PRAGMA LLC provides handling, packing and shipping services solely as a convenience for our bidders. International shipments are EUR150 – EUR1500 (shipping cost may differ and could increase based on the value and the specifics of the package, for example, for bulky, large cargo and highly valuable items). Shipping cost is included in the bidder post sale invoice. We ship within 7-10 business days after receiving payment if the lot won at an auction is located in the Republic of Latvia. In case if the lot is located in a different country, PRAGMA will receive the lot from its owner, conduct additional expertise if needed and send it to the winning bidder (this process might take 4 - 8 weeks). Every shipment will be packed professionally and we ship worldwide. Tracking numbers are also emailed as soon as packages get shipped. The items are shipped using our logistic partners and each package is fully insured. All shipments are insured at the total bid amount contained in the shipment (other add-on charges are not covered by insurance). We pay for insurance services at our own expense as a security for both our bidders and PRAGMA LLC. We also require a Direct Signature from the Bidder once the merchandise is received.

In the unusual event of a shipment exceeding ten business days, we will notify recipient of delay and offer an estimate for delivery. Occasionally delivery to a Buyer of the lot may be affected by an Event Outside Our Control, please see section “Events Outside Our Control” for further details of Events Outside Our Control. However, the lot being insured, shall give us the opportunity to send money back to the winning bidder in case the lot is not delivered to the winning bidder. Dates and times given for delivery are estimates only and we shall not be liable for any delay in delivery.


Taxes

VAT may be applicable to each sale.

For International customers the shipping fee will be included in your invoice. Customs and duties are the sole responsibility of the buyers. We have no control over these charges and we cannot predict their amount. Customers should check whether they are liable to pay import or export duties and taxes prior receiving the lot. The tracking number will be emailed as soon as it becomes available.

Buyer's Premium

A Buyer's premium amounting to 25% of the winning bid amount will be added to the purchase price of each lot. The winning bidders acknowledge and agree to pay a total of 25%

premium on top of the winning bid price.


**Note to bidders: Please be advised of the following:


**All Jewelry is new, unless stated differently

**All watches are pre-owned, unless stated differently


** All Diamonds and colored stones have been submitted to valuation by an independent jeweler while being set in mountings and the specification of the stones is a professionals’ opinion unless the diamonds or colored stones have a certificate.

**All Antiques, porcelain, silverware, art and other valuables are sold as seen in combination with a brief description unless provided with a condition report and other specific documentation

**All loose diamonds are new and GIA certified

**Each piece of jewelry will be submitted to Latvian assay office for certification and additional valuation after been fully paid for by the highest bidder and before being shipped.

**An estimate price range will be given to our clients for reference. These estimates are only for educational purposes. Bidding normally begins at about one half of the low estimate.

**Please note that the description and composition of the Valuables listed on our website are compliant with the opinion of our experts, as concluded during the authentication and screening process before placing the Valuables in the auction.


Remedies
On the fall of the Auctioneer's hammer, or upon the statement of "sold," the highest bidder or authorized agent shall be deemed to have purchased the offered lot, in accordance with all of the conditions set forth herein and will pay the purchase price in full plus buyer’s premium, any applicable taxes, shipping & handling fees (if applicable). They payment shall be executed within 3 (three) business days. If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to us and the Consignor by the law of the Republic of Latvia, including but without limitation to the right to hold the Purchaser liable for the purchase price, we, at our option, may either:

  • Cancel the sale;
  • Resell the property and notify the Purchaser within 3 days.

**Failure to complete the purchase in accordance with the terms provided herein and in the listing will cause the Bidder to be faced with all, or any combination of the following measures: elimination of all future bidding privileges on the hosting site; credit agency reporting; legal and/or collection action.

Anti-money laundering and terrorism and proliferation financing

PRAGMA reserves the right to request from the winning bidder additional information regarding enhanced identification methods, provenance of funds involved in the transaction, including, but not limited to original identification hard copies, bank and financial statements, employment documents, documents regarding revenue and source of funds in order to prevent money laundering and terrorism and proliferation financing. In case of non-compliance with PRAGMA’s requests in regard of these terms, any transaction may be suspended and cooperation terminated permanently without additional explanations.

Events Outside Our Control

We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these terms that is caused by an Event Outside Our Control. An Event Outside Our Control is defined below.

An "Event Outside Our Control" means any act or event beyond our reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, snow, flood, earthquake, subsidence, epidemic or other natural disaster, failure of public or private telecommunications networks, impossibility of the use of motor transport or other means of public or private transport, road traffic accidents, road closures or mechanical failure.

 

Special cases for damaged goods

We hope your valuables reach you in perfect condition, however if the items are damaged in transit, or are faulty please contact us on same day of receiving the item so we can advise you what to do. Please retain the original packaging as you may be asked to return this with the valuables to us.

 

Please pack returned goods with care and send them by a trusted logistics company or which provides adequate insurance to cover the value of the item and requires a signature on receipt. It is imperative that you use the correct logistics service when returning goods to us, as we cannot be held responsible for any items returned to us that are lost in transit. Please contact us so we can advise you what to do so we can help you with the necessary instructions.

You may return items in a new and unused state, in perfect condition, with all tags and stickers attached to them. PRAGMA LLC will not accept any return and will not compensate the price for the items if any item that was purchased new shows signs of wear, has been used, or has been altered from its original condition in any way.

You may return the item won on a PRAGMA LLC held auction only if a certified professional has issued a proof (the original of the document or it’s authorized copy must be sent to PRAGMA LLC legal address) that the item does not in any way match the description provided by PRAGMA LLC (unless there is a certificate or other paperwork that confirms the information stated in description of an item) within 3-5 days following delivery, for exchange or for refund to your credit card or PayPal account. PRAGMA will then assess the situation and in case of our prior approval you will be eligible to return the lot back to us.

If returning items from overseas outside the European Union please clearly write on your customs declaration 'RETURNED GOODS/FAILED SALE'. If it is not clear that the lot is a return and we incur customs charges, we will pass these on to you.

Also please write the item description as 'Fashion Accessory' as not to raise awareness to the contents enclosed.

*The rules for Fashion Accessory items do not apply to furniture, paintings and sculptures.

Restrictions on your use of the auction

You must be at least 18 years old and legally capable of entering into binding contracts in order to take part into the auction.

Risk and title

The title to any lot won on an auction shall transfer to a Buyer upon our receipt of full payment for such lot. Risk in the lot shall remain with the Buyer from the time of delivery.

Limitation of liability

We have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity;

If we fail to comply with these terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breach of these terms or our negligence, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if it was an obvious consequence of our breach or if it as contemplated by you and us at the time we entered into these terms;

Subject to previous section, our total liability in respect of the lot won on an auction or any breach of these terms, whether in contract, tort (including negligence), breach of statutory duty or otherwise, including loss or damage during collection, storage or return, shall not in any event exceed the value of the relevant lot won on an auction;

Except as set out in these terms, all warranties, conditions and other terms implied by statute or law are, to the fullest extent permitted by law, excluded from these terms. In particular, we will not be responsible for ensuring that the lot won on an auction are suitable for your purposes.
This section shall survive termination of these terms;

We are in no way liable for any off-site transactions, negotiated and completed outside our terms and conditions.

 

How we use your personal information

We process your personal data as stated in our Privacy policy on our website “www.pragmavaluables.com”.

 

Our right to vary these terms

We may revise these Terms from time to time.

Every time you place a bid, the Terms in force at that time will apply to any corresponding bid.

 

Obligations

You shall:

-ensure that the information you include in your use of the website is complete and accurate; and
-ensure that you only take part into any auctions if you are at least 18 years old.

 

Termination

We may terminate relationships with you with immediate effect by notice in writing to you if:
-you fail to pay any amount due under these terms, including any interest accrued, by the date due; or

-you are in breach of any term of these terms.

 

Consequences of termination

Upon termination of relationships with you for any reason:

-you shall immediately pay to us all of our outstanding unpaid invoices and interest;

-the accrued rights, remedies, obligations and liabilities of each party as at expiry or termination shall not be affected, including the right to claim damages in respect of any breach of these terms which existed at or before the date of termination or expiry; and

-sections which expressly or by implication have effect after termination shall continue in full force and effect.

 

Confidentiality

Each party shall keep in strict confidence all information which is of a confidential nature and which has been disclosed by one party to the other party. This section shall survive termination of relationships with you.

 

Notices

Notices to you

-Any notice given by us to you under these terms must be in writing and may be served by e-mail, by personal delivery to the person notified or its address, or by prepaid post.
-Your address for service of notices shall be your e-mail and/or postal address specified in your application or any other address which you have previously notified to us in writing.
Notices to us

-Any notice given by you to us must be in writing and maybe served by personal delivery, by pre-paid post or by e-mail.

-Our address for service of notices shall be our correspondence address set out in these terms.
-A notice will be served at the time of personal delivery or at the time the e-mail was sent by the sender, provided that the sender of the email does not receive an e-mail message stating that the email message has not been received by the intended recipient.

-You will inform us in writing of any changes to your billing details, contact details, alternative contact details, authorized persons, insurance details or access details stated in your application.

 

Assignment and sub-contracting

We may at any time assign, transfer, mortgage, charge, subcontract or deal in any other manner with all or any of its rights under these terms and may subcontract or delegate in any manner any or all of our obligations under these terms to any third party or agent.
You shall not, without our prior written consent, assign, transfer, mortgage, charge, subcontract, declare a trust over or deal in any other manner with any or all of its rights or obligations under these terms.

 

Other important terms

All intellectual property rights in or arising out of or in connection with the lot shall, as between you and us, be owned by us.

These Terms are only available in the English language.

If any of these Terms conflict with any terms of the actual auction process, the auction process will take priority.

If you are a consumer, you have legal rights in relation to the lot. Advice about your legal rights is available from our local Consumer’s rights protection authority. Nothing in these Terms will affect these legal rights.

If you are a consumer, please note that these terms are governed by the laws and regulations of the Republic of Latvia. This means the purchase of the lot and any dispute or claim arising out of or in connection with it will be governed by the law of the Republic of Latvia. You and we both agree that the courts of the Republic of Latvia will have exclusive jurisdiction in connection with any such dispute or claim.

If you are a business, these terms and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of the Republic of Latvia. You and we both irrevocably agree that the courts of the Republic of Latvia shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these terms or its subject matter or formation (including non-contractual disputes or claims).

 

Authenticity of the lot

All listings are screened by PRAGMA Approval team prior to being set live on the auction platform. Buyers are always encouraged to ask any questions prior to registering for an auction by contacting PRAGMA. All payments for the lot won, are made directly to PRAGMA.

 

CONSIGNMENT - SELL WITH US

 

Registration process, communication and acceptance of Valuables

 

  • We offer to sell with us your Valuables, to which you are either a legal owner or a representative to sell valuables on behalf of their owner. Such sale shall be performed on a consignment basis.
  • Notwithstanding the registration process, you as a Seller shall be asked to provide certain information to us prior the Valuables will be delivered to us, including, but not only – title and description of the Valuables, legal ownership rights, provenance of the Valuables (including receipts), pictures, etc. If you represent a legal person, then additionally documents evidencing legal representation rights and articles of the association shall be provided to us.
  • Please note that in case any of the Valuables and our relationships are subject to any of laws and regulations of anti-money laundering and terrorism and proliferation financing, additional information might be requested electronically and in original hard copy form.
  • After provision of the information requested, our authentication team will process, assess and evaluate information provided and either Accept, either Reject Valuables for further processing. Desirable price provided by you will be at all times additionally communicated in case the PRAGMA’s authentication team considers that the desirable price provided by you is unreasonably below or above the market price.
  • When you will receive an acceptance notice from PRAGMA, you shall send the Valuables to the address provided to you and with the requirements for shipment explained to you. This shall be done after a successful sale of the Valuables (see subpoint 17) under this section of these Terms). Any costs for the shipment of the Valuables to us and for the authentication process of those Valuables shall be paid by the Seller priorly, however the PRAGMA shall repay shipping costs together with the final transferrable price to the Seller only if the PRAGMA determines that subpoints 6) and 7) under this section of these Terms are fulfilled and the Valuables have been sold. The seller will be issued additionally with authentication procedure invoice. The authentication procedure costs are non-refundable and their costs are as follows: Diamond authentication 30EUR, Jewelry 45EUR, Watches 45EUR, Handbags: Hermes 230EUR, other brands 45EUR.
  • All Valuables received from you shall be screened by PRAGMA’s authentication team prior to being set live on the platform. Our team shall evaluate, in its sole discretion, authenticity, quality, and value. This process shall take up to 14 (fourteen) business days or longer depending on the number of items and complexity of the item and additional exchange of information between PRAGMA and you. We shall not store Valuables on our website prior performance of our duties set in this section.

Note: Please note that the pictures of Valuables you send to us (see subpoint 2) under this section of these Terms), shall reflect the same condition, form, composition, color and other described positions of the Valuables at your application, as when we will receive the Valuables physically. Thus, the Valuables shall be in the same and exact condition, form, composition, color and other related positions, as they were shown in the Pictures sent to us previously. In this regard, please at all times make sure to review the pictures you send to us, especially if they were post-processed before uploading them on our website.

a) if the PRAGMA cannot confirm the authenticity of any item of Valuables you have provided.

b) if the Valuables do not comply with subpoint 6) under this section of these Terms (including the Note under that subpoint 6)) of these Terms;

  • In the event of paragraph a) and b) of the subpoint 9) of these Terms, the PRAGMA will issue an invoice to the Seller covering the shipping costs and (if applicable) costs to receive an additional export permit for the return. Only when the Seller has paid the shipping costs and (if applicable) costs regarding the export permit, and when the PRAGMA has received the money in the bank account, PRAGMA shall send the Valuables back to the Seller.

Note: You acknowledge and agree that any item the PRAGMA finally determines to be counterfeit will not be returned to you and will be destroyed or provided further to investigation and law enforcement authorities.

  • You acknowledge and understand that the PRAGMA is subject to laws and regulations relating to claims that consigned items are counterfeit, have been stolen, or otherwise violate applicable law. The PRAGMA takes such reports seriously and will cooperate with law enforcement in all investigations.
  • You are responsible to provide to the PRAGMA not later than in 2 (two) weeks after a succesful sale fact (subpoint 5) of these Terms) any and all export permits regarding the Valuables to be delivered outside your country or the country where those Valuables are currently located. Such export permits will be asked to be sent, firstly, by e-mail and afterwards to be attached to the Valuables when we will organise shipping of those valuables.

Consignment and return

 

  • At any time you may request in writing that the PRAGMA returns the Valuables, so long as the items have not already been sold. Once the PRAGMA receives your return request, it will use commercially reasonable efforts to remove the item from www.auction.pragmavaluables.com and from any of our retail store locations, if applicable, before it is sold. It is your responsibility to ensure that the PRAGMA has your most current contact information and mailing address. In case Valuables are subject of return from the Buyer, the PRAGMA will let you know and you agree that such valuables shall be subject of return in accordance with Return policy for consumers of these Terms.
  • Return of Valuables according to the subpoint 12) of these Terms shall usually take up to 4-8 weeks. In case of delays the PRAGMA will notify you, but will perform all reasonable steps to comply with the term set in this section.
  • There are no additional fees to be charged to you upon the return of any of Valuables, except shipping and handling costs, which shall be paid by you prior such shipment. The PRAGMA shall have no obligation to return the Valuables to you unless and until you pay the PRAGMA the costs of shipment and handling prior to shipment.

Sale and reserve price

  • Below are the following fees and commissions applied to you as the seller:

a) Reserved price – the initial mutually, between PRAGMA and you, agreed price of the Valuables, which will be displayed in the auction (excluding shipping price and excluding any applicable taxes and payment commissions).

b) Pragma shall deduct 5% from the difference between the Reserve price and the actual hammer price, in case the hammer price is higher. For the sake of clarity, if the Reserved price initially agreed by you is EUR 100,00 (one hundred euros) and the valuables were sold for EUR 150,00 (one hundred fifty euros) (hammer price), PRAGMA has the right to deduct its commission in amount of additional EUR 2,5.

  • After a successful sale, the PRAGMA will transfer to the Seller the final transferable price (taking into consideration our commission) to the Seller’s bank account in 14 (fourteen) business days, but not earlier than prior receival of the sold Valuables from the Seller himself/herself and performance of the duties mentioned in the subpoint 6) under this section of these Terms.

Special rules for Sellers – Consignors in case of a return subject to Return policy for consumers of these Terms

If any of the Valuables are a subject of return according to Return policy for consumers of these Terms, the PRAGMA shall not transfer to the Seller the final transferable price. Instead, the PRAGMA will transfer back to the Seller the Valuables subject to such return.

In case the Valuables are subject to the above-mentioned return, the PRAGMA will inform the Seller accordingly and perform every reasonable step to deliver the Valuables back to the Seller. Such return shall in total take up to 5-9 weeks, or less, if the return from the side of the Buyer and further shipment to the Seller is without any delays and is, for example, not subject to any export permits. In case of delays the PRAGMA will notify you, but will perform all reasonable steps to comply with the term set in this section.

There are no additional fees to be charged to you upon the return of any of Valuables.

The Seller hereby acknowledges that he/she shall at all times comply with the terms set in this section, and understands that the PRAGMA is legally subject to return policy for consumers in case a valuable has been bought by a consumer – natural person.

Title of the Property, ownership

  • You will continue to own and have title to each item of the Valuables until that item is Sold by the PRAGMA to a customer (Buyer).

Representations and warranties, indemnification

  • By submitting your request to sell Valuables with us, you represent that you are the owner of the Valuables that you are inquiring about, that you own the Valuables free and clear of any claims, liens, encumbrances or interests of others and that the Valuables can be offered freely in the international valuable’s market. If you are interested in consigning your Valuables to the PRAGMA, please be aware that you are responsible for complying with any local export or import laws, including obtaining at your own expense any and all certificates/rights to export such Valuables outside from country where Valuables are stored.

Transfers to private sale agreement due to large amounts

  • We might ask Sellers at our sole discretion to transfer to private sale agreements due to large amount of Valuables or in cases of a large value of an item. Such private sale agreement shall also give you opportunity to use additional authentication, certification and legal services.

 

Information regarding Export permits and valuable subject to these permits

 

Antiques and art older than 100 years

* Articles of antiques, art, furniture, old musical instruments more than one hundred years old. Please see Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property 1970

 

Endangered species

*CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora). The aim of CITES is to ensure that international trade in wild animals and plants including live and dead specimens (whole), parts (such as animal skins) and derivatives (such as food/medicine made from such animal and plants) does not threaten their survival. All imports, exports, and re-exports of species covered by the Convention have to be authorized through a system of permits and certificates issued by corresponding local governmental authorities.

 

Returns policy for consumers

 

If you are a consumer, you are entitled to withdraw from this agreement within 14 days without giving any reason for doing so.

The withdrawal period will expire after 14 days from the day on which you have acquired physical possession of the Valuables.

To exercise the right of withdrawal, you must inform us of your decision to withdraw from this agreement by an unequivocal statement – LLC “PRAGMA”, a company registered in the Republic of Latvia under company number 40203136893 with legal address Babites nov., Babites pag., Brivkalni, Dambju iela 2, LV-2107 and address of correspondence Riga, Grecinieku street 30-702, LV-1050 – to our e-mail address - legal@pragmavaluables.com, or by post to our address of correspondence. The withdrawal sample is below:

Addressee – LLC “PRAGMA” a company registered in the Republic of Latvia under company number 40203136893 with legal address Babites nov., Babites pag., Brivkalni, Dambju iela 2, LV-2107 and address of correspondence Riga, Grecinieku street 30-702, LV-1050.

I/We hereby give notice that I/We withdraw from my/our contract of sale of the following Valuables [……………………………………………..].

Received the item on [……………………………………………..].

Name of consumer.

Address of consumer.

Signature of consumer [only if this form is notified on paper by post].

Date.

To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.

Effects of Withdrawal

If you withdraw from this agreement, we shall return all payments received from you, including delivery costs (except for the additional costs incurred due to the fact that you have chosen a mode of delivery which is not our proposed least expensive standard delivery mode), without undue delay, and in any case no later than within 14 days from the day when we were made aware of your decision to withdraw from the contract. Refunding will be done using the same payment instrument that you used for the original transaction, unless you have clearly agreed otherwise. In any case, you will not be charged any fee in connection with any such refunding. We may withhold reimbursement until we have received the Valuables back or you have supplied evidence of having sent back the Valuables, whichever is the earliest.

You shall hand over the Valuables to our trusted logistics partner confirmed by us without undue delay and in any event not later than 14 days from the day on which you communicate your withdrawal from this agreement to us. The deadline is met if you hand the Valuables back to our trusted logistics partners before the period of 14 days has expired. You will have to bear the direct cost of returning the Valuables. The cost is estimated at a maximum of approximately EUR 1’500 (for bulky, large cargo and highly valuable items the price may vary depending on the actual hammer price). You are only liable for any diminished value of the Valuables resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the Valuables.

The process of return, in particular, shall have the following steps:

If you have withdrawn from the agreement in the set term, we will send you an invoice regarding costs of returning the Valuables;

When we have received the payment, we will send our logistics partners to take the Valuables from you. Appropriate date shall be communicated in-between us and you.

In case the Valuables are subject to an export permit, you shall obtain such export permit on your own cost. Such export permit will be asked to be sent, firstly, by e-mail together with the notification on withdrawal. Afterwards such export permit shall be attached to the Valuables when the products will be shipped out to us.

You have to prepare the Valuables to be taken by our logistics partners. They will take care of the packaging and safe return of the Valuables back to us.

PLEASE NOTE: We will contact you to safely receive back the Valuables from you from your address. Please at all times follow our instructions and do not perform the return by yourself due to the high value and specifics of the Valuables.

All Valuables should be returned to us unworn and unused, in their original packaging and in the same condition as shown and described in the photographs and description of the listings in the website.

Please also note that in case the Buyer is not a consumer, the Buyer has no rights of withdrawal from this agreement.

PLEASE CONTACT US SO WE CAN ADVISE YOU WHAT TO DO SO WE CAN HELP YOU WITH THE NECESSARY INSTRUCTIONS.