1. AUCTION ACCOUNT OPENING

An auction account will be created under your personal or company name. This will be used for billing purposes, and cannot be changed after account creation.

2. FEES (with effect from 1 February 2024)

a. ANNUAL MEMBERSHIP FEE

There will be two regular auctions (i.e. Real-Time Auction & Time-Limited Auction) held in a week.

• For members, an Annual Membership Fee of S$250* (equivalent to S$4.80 per week, for 52 weeks in a year) applies. Members will also have access to monthly special discounted auctions with bids starting from S$0 - S$5.
• For non-members, each auction week participated is subject to a basic fee of S$10*.

*For local customers in Singapore, the prevailing GST rate will be charged on top of the S$250/year or S$10/auction fee, depending on the plan chosen.

b. TRANSACTION FEE

A tiered-based Transaction Fee* will be applied to each item, calculated based on the final winning price:

Example
If Participant A has won a S$500 bag and a S$80 wallet in an auction, the following applies:

*For avoidance of doubt, EcoRing will absorb the GST on the winning price of your item.

For the Transaction Fee, the prevailing GST rate will apply if collection is done at our Singapore store or if the items are shipped locally. No GST will apply if the items are shipped to an overseas address.

3. PAYMENT FOR ITEMS WON

1. Payment is only accepted by Cash, PayNow or Bank Transfer.
2. Please verify the details of your items won as stated in your won list before making payment.
3. A 10% security deposit payment, calculated on the total amount payable, is required on the same day the list of won items is shared with you.
4. The following must be completed within seven (7) days starting from the date of the auction:
   • Balance payment of 90% (including shipping fee, if applicable), and
   • Item collection from our store (if you did not opt for delivery)
5. If you have opted for delivery, items will only be shipped out once full payment (including shipping fee) has been received.
6. Failure to meet the stipulated deadlines outlined in 3(c) and 3(d) will result in the automatic release of your items to public sale. Additionally, a penalty of S$100 will be levied before your participation can resume for subsequent auctions.

4. CANCELLATION & RETURNS

1. Item cancellation will be subject to a penalty of S$20 or 10% of the winning bid price for the item, whichever amount is greater. Payment for the penalty must be made within 7 days of your cancellation, or your auction account will be suspended.
2. Item returns are considered on a case-by-case basis and typically apply only in situations where there are significant defects not disclosed in an item’s description and pictures. In the event of any of such defects, kindly inform us within seven (7) days of receiving the item(s).
   
   Please note that minor defects resulting from normal usage are not considered as significant. The conditions of all auction items are categorised based on the ranks outlined in Annex A.
3. Shipping and import fees (if applicable) are charged at your own expense for all item returns, unless stated otherwise.
4. All auction items undergo thorough inspection and authentication by our in-house team of luxury appraisers. If you have concerns regarding the authenticity of your purchase, kindly furnish the following evidence within twenty-one (21) days of receiving the item(s):
   • Written rejection from the authorised brand boutique, refusing to accept the item(s) for any reason, including cleaning, polishing, or repair; and
   • Detailed photographs and/or video recordings of the item(s) highlighting any inconsistencies or markings that raise suspicion of inauthenticity.
5. Authentication results from third-party services such as Entrupy or similar services will not be accepted as sole evidence of inauthenticity. However, such results may be considered supplementary evidence when combined with the above-mentioned proof.

5. SHARING OF ACCOUNT

Account sharing in any form is strictly prohibited. Violations will result in suspension.

1. AUCTION ACCOUNT OPENING

An auction account will be created under your personal or company name. This will be used for billing purposes, and cannot be changed after account creation.

*Please note that overseas based clients are only eligible for RTA, TLA and MBR auctions.

2. FEES (with effect from 1 February 2024)

a. ANNUAL MEMBERSHIP FEE

There will be two regular auctions (i.e. Real-Time Auction & Time-Limited Auction) held in a week.

• For members, an Premium Membership Fee of S$272.50 (equivalent to S$4.80 per week, for 52 weeks in a year) applies. Members will also have access to monthly special discounted auctions with bids starting from S$0 - S$5.
• For Basic membership, each auction week participated is subject to a fee of S$10.90.

b. TRANSACTION FEE

A tiered-based Transaction Fee* will be applied to each item, calculated based on the final winning price:

Example
If Participant A has won a S$500 bag and a S$80 wallet in an auction, the following applies:

PAYMENT FOR ITEMS WON

1. Payment is only accepted by Cash, PayNow or Bank Transfer.
2. Please verify the details of your items won as stated in your won list before making payment.
3. A 10% security deposit payment, calculated on the total amount payable, is required on the same day the list of won items is shared with you.
4. The following must be completed within seven (7) days starting from the date of the auction:
   • Balance payment of 90% (including shipping fee, if applicable), and
   • Item collection from our store (if you did not opt for delivery)
5. If you have opted for delivery, items will only be shipped out once full payment (including shipping fee) has been received.
6. *Failure to meet the stipulated deadlines outlined in 2(d) and 3(a) will result in the automatic release of your items to public sale. Additionally, a penalty of S$100 will be levied before your participation can resume for subsequent auctions.
7. We reserve all rights to enforce limits on the number of items a bidder may bid on and to require an advance deposit in the event of non-compliance with payment requirements.

3. CANCELLATION & RETURNS

1. Item cancellation will be subject to a penalty of S$20 or 10% of the winning bid price for the item, whichever amount is greater. Payment for the penalty must be made within 7 days of your cancellation, or your auction account will be suspended.
2. *Cancellations are only permitted if the item has not yet been shipped from EcoRing Singapore. Once an item has been shipped, it will be deemed sold, and no cancellations will be accepted, regardless of any undisclosed defects or condition discrepancies.
   
   The conditions of all auction items are categorised based on the ranks outlined in Annex A.
3. Shipping and import fees (if applicable) are charged at your own expense for all item returns, unless stated otherwise.
4. *Regardless of any discrepancies or authenticity issues — there will be ZERO reimbursement for shipping fees and taxes back to Singapore.
5. All auction items undergo thorough inspection and authentication by our in-house team of luxury appraisers. If you have concerns regarding the authenticity of your purchase, kindly furnish the following evidence within twenty-one (21) days of receiving the item(s):
   • Written rejection from the authorised brand boutique, refusing to accept the item(s) for any reason, including cleaning, polishing, or repair; and
   • Detailed photographs and/or video recordings of the item(s) highlighting any inconsistencies or markings that raise suspicion of inauthenticity.
6. Authentication results from third-party services such as Entrupy or similar services will not be accepted as sole evidence of inauthenticity. However, such results may be considered supplementary evidence when combined with the above-mentioned proof.

4. SHIPPING FEES/SHIPMENT METHODS

1. All shipping fees and custom taxes will be borne by the buyer. EcoRing Singapore only uses FedEx for overseas shipping, final shipping rate will be determined based on the final box size, weight and destination.
2. An additional $2 packing fee applies to each item won, capped at $200 per auction week.
3. Alternatively, you may arrange a courier service at your own expense to collect the item from EcoRing Singapore and ship it back to you. Please note that all pickups are subject to EcoRing Singapore’s availability and prior approval. Any courier arriving without our confirmation will be declined and not accommodated.
4. *Unfortunately, due to ongoing tariff instability in the United States, we are unable to arrange shipments to the US at this time. US-based customers will be required to independently arrange a courier service to collect their items.

5. SHARING OF ACCOUNT

Account sharing in any form is strictly prohibited. Violations will result in suspension.