Seller terms and conditions.

These Seller Terms apply when you request a quote, provide a watch to us for assessment or agree to sell a watch to Lost Watches. They are designed for a direct purchase by Lost Watches from you. Our Privacy Policy also applies to the personal information, identification, documents and photographs involved.

Company details

01. Definitions

In these terms:

“Company”, “Lost Watches”, “we”, “us” or “our”

Lost Designer Pty Ltd trading under the registered business name Lost Watches.

“Seller”, “you” or “your”

The person who submits a quote enquiry, provides a watch for assessment or sells a watch to us, including an authorised representative where we accept that authority.

“Watch” or “Item”

The watch and all accessories, links, straps, boxes, papers, receipts, service records and other items provided with it.

“Purchase Offer”

The stated price we offer to pay based on the photographs, information and documents supplied by you.

“Accepted Offer”

A Purchase Offer you have clearly accepted before handover. Routine verification confirms that the Item matches the submitted identity and description; a Material Difference is handled under section 04.

“Material Difference”

A significant difference between the Item received and the information or photographs supplied, including a different reference, undisclosed counterfeit status, substantial undisclosed damage, missing agreed inclusions or another fact that would reasonably change the agreed transaction.

“Direct Purchase”

An outright purchase of the Item by Lost Watches as principal. It is not a consignment, agency arrangement, pawn, secured loan or promise to sell the Item for you.

“Website”

lostwatches.com.au and the forms, pages and services made available through it.

02. Eligibility, enquiry and onboarding

Eligibility

You must be at least 18 years old, legally capable of entering into the transaction, and the lawful owner of the Item or a person with clear written authority from its lawful owner. We currently buy from sellers in Australia.

We buy watches from the brands listed on our website. Because each watch is different, you must submit its details and photographs to receive a Purchase Offer.

Quote enquiry

To begin, you may complete our quote form or contact us by telephone, email, WhatsApp or in person. We may ask for your name, contact details, location, brand, model, reference, approximate age, condition, service history, inclusions and clear photographs. Reference numbers may be omitted if genuinely unknown, but you must not deliberately conceal them.

No obligation at enquiry stage

Submitting an enquiry does not require you to sell and does not require us to make a Purchase Offer. We may decline an enquiry because of brand, reference, authenticity, provenance, demand, legal requirements or commercial considerations.

Further information and verification

We may request more photographs, documents, identification or information before making a Purchase Offer or arranging handover. You agree to respond honestly and provide reasonable evidence requested to verify the Item, your identity, ownership and payment instructions.

03. Seller obligations, representations and warranties

By submitting an Item and, again, when accepting a Purchase Offer, you represent and warrant that:

• you are the lawful owner or have valid authority from the lawful owner to sell the Item;
• the Item is not stolen, unlawfully obtained, counterfeit, a replica or the proceeds of crime;
• the Item is free from undisclosed finance, security interests, liens, insurance claims and competing ownership rights;
• all information, photographs, receipts, certificates, identification and documents supplied by you are genuine, accurate, complete and not misleading;
• you have disclosed known damage, operational faults, water exposure, engraving, polishing, restoration, repairs and service history;
• you have disclosed all aftermarket, modified, replacement or non-genuine parts known to you;
• you have accurately described the box, papers, links, straps, receipts and other accessories included;
• you will comply with reasonable identification, ownership, packaging, collection and transaction instructions; and
• your sale of the Item does not infringe any law or third-party right.

If you act for another owner, you must tell us before sending or bringing in the Item and provide evidence of the authority. We may require the owner to participate directly in identification, acceptance and payment arrangements.

04. Purchase Offers and verification

Your Purchase Offer

A Purchase Offer is based on the information, photographs and documents then available. It is a direct-purchase price, not a retail, insurance or investment appraisal. You may accept or reject it before the stated expiry time.

Market movement and expiry

Luxury-watch values and demand can change. A Purchase Offer may be withdrawn before acceptance. If we state an expiry time, the Purchase Offer ends at that time; acceptance after expiry requires a new offer from us.

Routine verification and Material Differences

After receiving an Item under an Accepted Offer, we complete routine intake, authentication, function and ownership checks. The accepted price applies to the Item as described in your submission. Normal wear or a detail already disclosed does not allow us to reduce that price merely because the watch has arrived.

If the Item differs materially from the information and photographs submitted, we will contact you, explain the Material Difference and discuss the available options before making any change. We will not substitute a lower price without your clear agreement. If no agreement is reached, the Item remains yours and will be returned or made available for collection under section 09.

Your choice

You are free to accept or reject the Purchase Offer. If you do not accept, keep the Item with you. If the Item is already with us and no purchase completes, it remains yours and will be returned or made available for collection under section 09.

05. Delivery, DHL collection and appointments

Do not send an Item without instructions

You must not send a watch until our team has confirmed the next step. Depending on your location and the Item, we may arrange a DHL collection, agree another carrier, or invite you to our Toorak premises.

Toorak appointments

Walk-ins are welcome during published business hours. For valuable watches, multiple Items or specialist references, we recommend calling ahead so an appropriate team member is available. Where possible, submit the watch first so you can receive a Purchase Offer before attending. Specialist authentication may mean completion is not possible during the same visit.

Packaging

You must use a sturdy outer box, adequate internal protection and all packaging instructions we provide. Do not identify the package as containing a luxury watch on its exterior. You are responsible for loss or damage caused by inadequate packing, prohibited contents, inaccurate declarations or failure to follow agreed carrier instructions, to the extent permitted by law.

Collection records

Keep your lodgement receipt and tracking information. A label being issued does not by itself mean the package has entered the carrier’s custody or that a particular insurance limit applies.

06. Receipt, inspection and authentication

Receipt

When physically received, we may record the date, time, package condition, contents, identifying numbers and the person handling the Item. We may photograph or video the package opening and the Item’s condition for security and transaction records.

Inspection

You authorise us to visually inspect, photograph, handle, test and authenticate the Item and its accessories. We may examine the case, dial, movement, serial and reference markings, bracelet, clasp, timekeeping, functions, documents and provenance. We may consult an independent watchmaker, authentication provider, manufacturer or other specialist.

Opening the case and invasive work

We may open a caseback where reasonably required for authentication or condition assessment and where this can ordinarily be performed without damage. We will seek your approval before destructive testing, permanent alteration or other invasive work that could reasonably affect the Item. Routine careful opening for inspection is not treated as an alteration.

Timeframes

We aim to assess Items promptly, but complex references, third-party opinions, security checks or missing information may extend the process. Any timeframe communicated is an estimate unless we expressly agree otherwise in writing.

Purpose of verification

Our review and verification are performed solely for the proposed Direct Purchase. They are not a certificate, insurance valuation, investment opinion or warranty that another person can rely on.

07. Custody, risk and insurance

While the Item is physically with us

Lost Watches maintains insurance coverage for watches while they are in our physical possession, subject to the terms, limits, excesses, exclusions and acceptance of any claim under the applicable insurance policy. This is intended to include protection against insured events such as theft while an Item is stored, handled or inspected at our premises.

Insurance is not an unconditional guarantee

Insurance coverage does not mean every loss, cause of damage or amount will be accepted by the insurer. If an insured event occurs, we will notify you within a reasonable time, take reasonable steps to protect the Item and cooperate with our insurer in making and progressing a claim.

Amount of compensation

Where an insurance claim is accepted before title has transferred to us, compensation relating to the Item will be limited to the lower of:

• the Accepted Offer for the Item, if one had been agreed;
• the value reasonably established from the transaction records and available market evidence where no Purchase Offer had been accepted; and
• the amount actually recovered under the applicable insurance policy for that Item after any policy limits, excesses and adjustments.

We are not required to pay more than the amount recovered for the Item under the policy, except to the extent liability cannot lawfully be limited or the loss was caused by our fraud, wilful misconduct or failure to take reasonable care.

Transit to and from Lost Watches

Our premises insurance applies only while the Item is physically in our possession. Transit risk and any transit insurance are separate. Unless we expressly confirm in writing that a particular journey is insured by us, you remain responsible for the Item while it is in transit to or from Lost Watches.

If we arrange a DHL or other carrier collection and expressly confirm transit cover, that cover is limited to the route, declared value, carrier conditions and insurance terms stated in our written collection instructions. Delays, unattended collection, incorrect packaging, rerouting or a seller-provided alternative address may affect that cover.

When risk changes

Before a Direct Purchase is completed, ownership remains with you even while we hold the Item for assessment. Once the purchase is completed and title transfers under section 08, the Item belongs to Lost Watches and we bear the risk as owner.

08. Direct purchase, payment, title and taxes

When a binding sale is formed

Submitting an enquiry or receiving a Purchase Offer does not itself transfer ownership. Accepting a Purchase Offer records the price and the agreed next step, subject to the routine verification described in section 04. A binding Direct Purchase is formed when:

1. we communicate a Purchase Offer and any transaction-specific conditions;
2. you clearly accept that Purchase Offer;
3. the Item is handed over and routine verification confirms it matches the submitted identity and description;
4. required identity, ownership, bank and dealer-record checks are completed; and
5. both parties complete any required acquisition record, receipt or written confirmation.

Payment

After your Accepted Offer watch arrives, we complete routine intake, authentication and paperwork, then ordinarily initiate payment by electronic transfer to a verified account in the Seller’s name. We aim to initiate payment promptly, including same-day or instant transfer where the banking system permits. Your bank’s processing, transaction limits, security reviews, weekends and public holidays can affect when funds appear.

We may pause payment if identity, account ownership, authority, fraud or transaction information cannot be verified. We will not knowingly pay an unrelated third party. A payment screenshot, remittance message or pending bank status is not the same as cleared funds.

Transfer of title

Unless the written acquisition record states otherwise, legal and beneficial title transfers to Lost Watches when we initiate the agreed payment after completion of the required transaction records. From that point, Lost Watches owns the Item outright and may retain, repair, photograph, advertise, sell or otherwise deal with it.

No consignment or later adjustment

We buy as principal for our own account. There is no consignment period, seller commission, listing price, lay-by dependency, resale-price adjustment, withdrawal fee or later payout. You have no interest in our eventual resale price or profit, and we cannot reduce your agreed purchase price merely because we later sell the Item for less.

Taxes

You are responsible for obtaining advice about any income tax, capital gains tax, GST or other tax consequences of selling your Item. Unless expressly stated otherwise in writing, the Accepted Offer is the total amount payable to you and includes any GST you are legally required to charge. If you sell in the course of an enterprise and are registered or required to be registered for GST, you must tell us before accepting the Purchase Offer and provide any valid tax invoice or information reasonably required.

09. Declined Items, returns and uncollected property

If we do not purchase the Item

If you reject the Purchase Offer, or if a Direct Purchase does not complete after a Material Difference is identified, we will arrange return or make the Item available for collection. Any return method, address, cost, transit cover and responsibility will follow the arrangements confirmed before dispatch or separately agreed in writing.

Condition on return

We will take reasonable care of the Item and return the Item and recorded accessories provided to us, subject to any lawful retention by police or another authority. Normal careful handling, testing and approved inspection do not constitute damage. We will not clean, polish, repair or permanently alter your Item without consent.

Failure to collect or provide return instructions

You must collect the Item or cooperate with reasonable delivery arrangements. We will make reasonable attempts to contact you using the details supplied. If goods remain uncollected, we may recover reasonable transport, storage, maintenance and insurance costs where the law permits.

We will deal with uncollected goods under applicable Victorian law, including required notices, waiting periods, disposal methods, records and treatment of any surplus proceeds. Nothing in these terms gives us an unrestricted right to keep or destroy a valuable watch.

10. Counterfeit, replica, stolen or suspicious Items

Disclosure

You must disclose before sending an Item if you know or suspect it is counterfeit, a replica, stolen, unlawfully obtained or fitted with undisclosed non-genuine parts. We will not knowingly purchase counterfeit or stolen goods.

Authentication and handling fee

If an Item received by us is determined to be counterfeit or a replica, a $280 authentication and handling fee applies. The fee covers authentication by a watchmaker or specialist, return shipping, processing, administration and secure handling. We will provide written notice of the finding and fee, and the Item may be held pending payment to the extent permitted by law.

Return, retention and authorities

Subject to legal or police requirements, a rejected Item will be returned after any lawful and properly disclosed fee is paid. If we reasonably suspect theft, fraud, forged documentation or other unlawful activity, we may retain the Item or information and notify or provide it to Victoria Police or another authority where permitted or required. Any Item not collected following release by an authority remains subject to section 09.

11. Lost Watches’ responsibilities

While an Item is being assessed or a Direct Purchase is being completed, we will:

• handle and store it with reasonable care and appropriate security;
• use reasonable efforts to assess and authenticate it professionally;
• communicate a clear Purchase Offer before handover;
• contact you before any change if a Material Difference is found;
• not complete a purchase without your clear acceptance of the Purchase Offer;
• keep transaction and Seller information confidential except as described in our Privacy Policy or required by law;
• complete the second-hand dealer records required for a purchase;
• initiate the agreed payment after completion requirements are satisfied; and
• cooperate reasonably with you and any relevant insurer or authority if an Item is lost, stolen or materially damaged while in our custody.

12. Photographs, documents and intellectual property

Material you provide

You retain ownership of photographs, video and other original material you submit. You grant us a non-exclusive, royalty-free licence to copy, store, crop and use that material for valuation, authentication, fraud prevention, security, record keeping, internal training, contacting you and completing the proposed transaction. You confirm that you are entitled to give us that permission.

Material we create

Photographs, video, assessment notes and other original material created by Lost Watches remain our intellectual property, subject to your rights in any personal information shown. If we complete a Direct Purchase, we may use our photographs and information about the Item for our business, advertising and resale. We will not publicly identify you as the former owner or use your identity as an endorsement without consent.

Website ownership

The Website, Lost Watches name and logo, design, copy, features and original media are owned by or licensed to us. Personal, lawful use is permitted. You must not copy or republish substantial parts, interfere with the Website, introduce malicious code, attempt unauthorised access or unreasonably scrape our content.

Third-party brands

Watchmaker names, model names and trademarks belong to their respective owners and are used for identification and informational purposes. Lost Watches is independent and is not affiliated with, authorised by or endorsed by those brands unless expressly stated.

13. Confidentiality and privacy

Each party must keep genuinely confidential information received solely for the proposed transaction confidential, except where disclosure is required to staff, professional advisers, authenticators, carriers, insurers, payment providers or authorities for a legitimate transaction or legal purpose.

Our Privacy Policy explains how we collect, hold, use, disclose, protect and retain personal information, including identification, bank information, photographs, dealer records and information managed through Lost Cloud.

14. Website information, complaints and service availability

General information

We take reasonable care with the Website but cannot promise that it will always be uninterrupted or that every page is complete and current. Guide articles and market commentary are general information only and are not financial, investment, tax, insurance or legal advice.

Complaints

If you have a concern about an assessment, Item, payment, privacy matter or our service, contact us promptly with the relevant enquiry or transaction reference. We will review the available records and seek to resolve the matter reasonably. Both parties agree to cooperate and provide relevant information.

Events outside reasonable control

Neither party is responsible for delay caused by events outside its reasonable control, including carrier disruption, banking outages, natural disasters, power or communications failures, government action, industrial action, civil disturbance, epidemic or war. This does not remove an obligation to protect an Item, account for money already received or perform once the preventing event ends.

15. Liability, indemnity and rights that cannot be excluded

Non-excludable rights

Nothing in these terms excludes, restricts or modifies any right, guarantee, remedy or liability that cannot lawfully be excluded, including under the Australian Consumer Law where it applies.

Reasonable limits

To the extent permitted by law, neither party is liable to the other for indirect, special or consequential loss that was not reasonably foreseeable when the relevant arrangement was made. Any insurance-related compensation remains subject to section 07. These limits do not apply to fraud, wilful misconduct, breach of the Seller’s title and authenticity warranties, or loss caused by a failure to take reasonable care while an Item is in a party’s custody.

Seller indemnity

To the extent permitted by law, you indemnify Lost Watches and its personnel against reasonably incurred loss, claims and costs arising directly from your material breach of these terms, lack of title or authority, fraudulent or misleading information, undisclosed counterfeit status, forged documents, or infringement caused by material you supplied. This indemnity is reduced to the extent our own negligence, breach or wrongful conduct caused or contributed to the loss.

16. Governing law and miscellaneous terms

Governing law

These terms and any Direct Purchase are governed by the laws of Victoria, Australia. The parties submit to the courts and tribunals with jurisdiction in Victoria, without limiting any right that applicable law gives a party to use another forum.

Transaction-specific terms

A purchase receipt, acquisition form, email or other written confirmation may contain terms specific to an Item. If it conflicts with these general terms, the transaction-specific document applies to that purchase to the extent of the conflict.

Severability

If a provision is invalid or unenforceable, it is to be read down to the minimum extent necessary or severed, and the remaining provisions continue.

No waiver

A delay or failure to exercise a right is not a waiver. A waiver must be clear and applies only to the particular circumstance for which it is given.

Assignment

You may not assign your rights or obligations under a proposed or completed transaction without our written consent. We may assign rights as part of a genuine sale or restructure of our business, provided this does not reduce your accrued rights.

Entire agreement

These terms, our Privacy Policy and the relevant transaction-specific records form the agreement concerning the proposed or completed Direct Purchase and replace earlier discussions about that transaction, except for fraudulent statements or rights that cannot be excluded.

Updates

We may update these terms from time to time. The version displayed when you use the Website applies to that use. The version accepted or incorporated when a binding purchase is formed continues to govern that purchase unless both parties agree otherwise.

17. Contact and grievances

Related: Privacy Policy · Security and ownership