Terms of Service

These Terms of Service (“Terms”) govern your use of the Watches & Family (“W&F”) platform, including our website, marketplace, and related services. By creating an account or using W&F, you agree to these Terms.

1. Eligibility

You must be at least 18 years old and legally able to enter into binding contracts in your jurisdiction. By using W&F, you represent that you meet these requirements. If you are using W&F on behalf of a business or entity, you represent that you have authority to bind that entity to these Terms.

2. Accounts

You are responsible for maintaining the confidentiality of your account credentials and for all activity under your account. You agree to provide accurate, current, and complete information during registration and to update it as necessary.

We may suspend or terminate accounts that violate these Terms, contain false information, or engage in fraudulent activity.

3. Listing Watches

When you list a watch on W&F, you represent and warrant that:

• You are the legal owner of the watch or authorized to sell it
• The watch description, condition, and provenance information are accurate and truthful
• The watch is authentic and not counterfeit
• You have the right to share the provenance story associated with the listing

By listing a watch, you grant W&F a perpetual, non-exclusive license to display the watch's provenance story and associated family name as part of the watch's digital passport. This license survives the sale of the watch — provenance stories travel with watches permanently.

4. Buying

When you purchase a watch through W&F, you agree to pay the listed price plus any applicable fees and taxes. All sales are subject to authentication verification before the watch is shipped. Upon completing a purchase, you become the next link in the watch's provenance chain and are encouraged (but not required) to add your own family story.

W&F acts as a marketplace facilitator, not a party to the transaction between buyer and seller. However, we hold funds in escrow until both parties confirm the transaction is complete.

5. Royalty Terms

W&F's perpetual royalty model distributes a percentage of appreciation to all families in a watch's provenance chain whenever the watch is resold on the platform at a higher price than its previous sale. Key terms:

• Royalties are calculated on appreciation only — the difference between the current sale price and the previous sale price
• Base royalty rate starts at 15% of appreciation, increasing to 33% at the Legacy tier based on total appreciation amount
• Royalties are split among all families in the provenance chain, weighted by their position
• Royalties are only triggered when a watch resells on W&F at a price higher than its last recorded sale
• W&F reserves the right to modify royalty rates with 90 days notice; existing provenance chains are grandfathered at their original rates

Royalty payments are processed within 14 business days of a completed transaction.

6. Fees

W&F charges a 5% platform fee on all completed transactions, calculated on the total sale price. This fee is deducted from the seller's proceeds at the time of sale.

7. Authentication

Every watch sold through W&F undergoes authentication by our team of horological experts. W&F makes commercially reasonable efforts to verify the authenticity of every timepiece, but does not guarantee that all counterfeits will be detected. In the event that a watch is found to be inauthentic after purchase, the buyer is entitled to a full refund and the seller's account will be reviewed for potential suspension.

8. Disputes

If a dispute arises between a buyer and seller, W&F will facilitate resolution through our internal mediation process. Both parties agree to participate in good faith. If mediation fails, disputes will be resolved through binding arbitration under the rules of the American Arbitration Association, with proceedings conducted in Los Angeles County, California.

You agree to waive any right to participate in a class action lawsuit or class-wide arbitration against W&F.

9. Limitation of Liability

To the maximum extent permitted by law, W&F and its officers, directors, employees, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the platform, including but not limited to loss of profits, data, or goodwill.

W&F's total liability for any claim arising from these Terms or your use of the platform shall not exceed the greater of (a) the fees you paid to W&F in the 12 months preceding the claim, or (b) $500.

W&F does not guarantee the accuracy of watch valuations, the performance of any investment in watches, or the availability of royalty payments. Past appreciation does not guarantee future results.

10. General

These Terms constitute the entire agreement between you and W&F. They are governed by the laws of the State of California. If any provision is found unenforceable, the remaining provisions continue in effect. Our failure to enforce any right does not waive it.

We may update these Terms from time to time. Material changes will be communicated at least 30 days in advance. Continued use of W&F after changes take effect constitutes acceptance.

Questions

For questions about these Terms, contact us at legal@watchesandfamily.com.