Luxury Exchange Consignment Terms and Conditions

By creating an account on our consignment platform ("The Platform" or "The Consignment Platform"), you ("Consignor" or "You") agree to the following Terms and Conditions with Luxury Exchange ("We," "Us," or "Our"), located at South Bank, Crosses Green, Cork, Ireland.

These terms serve as a master agreement and will govern all items you submit to us for consignment, now and in the future. Please read them carefully. If these terms change we will contact you by email informing you of the change.

1. How The Consignment Platform Works

When you submit an item to Luxury Exchange through your account, we operate on a Fixed Quote system:

  • The Quote: After reviewing your digital submission or physical item, we will issue a fixed quote through the platform detailing the amount you will be paid upon a successful sale (the "Quoted Amount").
  • Acceptance: By accepting the quote within your account and sending/leaving the item with us, you lock in that Quoted Amount for that specific item.
  • The Sale Price: We control the final retail price of your item at our sole discretion.
  • Your Payout: You are entitled strictly to the agreed Quoted Amount. Any difference between the final retail sale price and your Quoted Amount belongs solely to Luxury Exchange. In some cases, a deduction may be agreed upon in advance of a payout to cover shipping fees, item cleaning, or other varied costs.

2. Consignment Timeframes and Fees

To ensure we have adequate time to market and sell your luxury goods, we enforce the following timelines for each accepted item:

  • Minimum Term (3 Months): Your item must remain with us for a minimum of three (3) months from the date we physically receive it. If you request your item back before this period ends, you are responsible for all return shipping costs plus a €100 early-withdrawal fee per item.
  • Maximum Term (12 Months): If your item remains unsold after twelve (12) months, a six (6) month reclamation period begins. We will attempt to contact you to arrange the return of your item at your expense.
  • Unclaimed Items: If you do not reclaim your item by the end of the six-month reclamation period, ownership transfers entirely to Luxury Exchange, and we may sell, donate, or dispose of the item without further liability to you.

3. Getting Paid

When your item successfully sells (meaning the buyer has paid, received the item, and no returns or disputes are pending), we will process your payment.

  • Payout Timeline: You will receive your Quoted Amount within thirty (30) days of the completed sale (Net 30).
  • Payment Method: Payments are issued in Euros (€) via bank transfer (IBAN) to the details provided in your account, or another mutually agreed-upon digital method. It is your sole responsibility to ensure that payment details are accurate and up-to-date.
  • Deductions: We reserve the right to deduct any outstanding platform fees (such as early-withdrawal fees or return shipping costs) from your final payout. We handle all applicable sales taxes or VAT related to the retail sale.

4. Price Adjustments

Sometimes, the market requires us to adjust pricing to secure a sale.

  • If we need to reduce your Quoted Amount to facilitate a sale, we will request your approval via the platform or email.
  • If we cannot agree on a new Quoted Amount within seven (7) days of our request, you may choose to have your item returned (subject to the early withdrawal fee if within the first 3 months, and standard return shipping costs).
  • Once a new Quoted Amount is accepted, it permanently replaces the previous quote for that item.

5. Shipping, Insurance, and Risk

  • Sending Items to Us: You are responsible for all shipping and insurance costs when sending items to Luxury Exchange. We are not liable for any loss or damage that occurs during inbound transit. If we send you a shipping label to expedite the process, you remain liable for the item until we confirm receipt.
  • While in Our Care: Once we confirm physical receipt of your item at our premises, we maintain reasonable insurance coverage for loss or damage (excluding normal wear and tear) and assume the risk of loss.
  • Returning Items: You are responsible for all outbound shipping and insurance costs if an item is returned to you for any reason, unless otherwise stated.

6. Authenticity and Condition

Trust is the foundation of our business. By submitting an item, you legally warrant that you are the rightful owner, that the item is 100% authentic, and that all provided descriptions are accurate.

  • Upon receipt, our experts will meticulously inspect and authenticate your item.
  • If an item fails authentication, is found to be counterfeit, or differs significantly from your digital submission, we will reject it. It will be returned to you (where permitted) entirely at your expense, and your account may be suspended.

7. Marketing and Ownership

  • Marketing Rights: During the consignment term, Luxury Exchange has the exclusive right to photograph, market, display, and sell your item across all our physical and digital channels. You agree not to interfere with our listings or communicate with potential buyers regarding consigned items.
  • Title Transfer: You retain legal ownership of your item until it is sold. Once a sale is complete, ownership transfers directly to the buyer. We do not take ownership of your item at any point.

8. General Legal Terms

  • Termination: We may terminate this agreement and suspend your account if you breach any of these terms. You may terminate this agreement for any specific item after its 3-month Minimum Term has expired.
  • Force Majeure: Neither party is liable for delays or failures caused by events outside their reasonable control (e.g., natural disasters, pandemics, postal strikes).
  • Governing Law: These terms are governed by the laws of Ireland. Any disputes will be subject to the exclusive jurisdiction of the Irish courts.