Auction Terms

1. Definitions & Interpretation

In these Auction Terms, the following definitions apply:

2. Registration & Eligibility

• Be at least 18 years old
• Be a resident of the United Kingdom
• Have a verified Cyclesite account
• Have a valid payment card registered to your account
• Accept these Auction Terms

2.2 Verification Requirements

For bids exceeding £5,000, we may require additional verification:

• Government-issued photo ID
• Proof of address (utility bill, bank statement dated within 3 months)
• Enhanced payment card verification

2.3 Seller Registration

To sell via Auction, you must meet all requirements in our Listing Terms and submit your Lot through our Auction consignment process.

3. Auction Listing Requirements

All Auction Lots must meet enhanced listing standards:

3.1 Photography

• Minimum 15 high-resolution photographs
• Required angles: drive side, non-drive side, front, rear, frame detail, components
• Close-ups of any damage, wear, or imperfections
• Frame number photograph (clearly visible)
• For e-bikes: display showing mileage/battery status

3.2 Description

• Complete specification (frame material, size, groupset, wheels, etc.)
• Service history and maintenance records
• Any modifications from original specification
• Known defects, damage, or issues (mandatory disclosure)
• Reason for selling (optional but encouraged)

3.3 BikeCheck Verification

All Auction Lots undergo BikeCheck verification before listing. Lots flagged as stolen, scrapped, or with undisclosed issues will not be accepted.

4. Bidding Rules

4.2 Bid Increments

4.3 Proxy Bidding (Maximum Bid)

You may enter a maximum bid. The system will automatically bid on your behalf up to your maximum, using the minimum increments necessary to remain the highest bidder.

• Your maximum bid is kept confidential
• The displayed current bid may be lower than your maximum
• If two bidders have the same maximum, the earlier bid wins

4.4 Bid Retraction

Bids cannot be retracted except in exceptional circumstances at our sole discretion (e.g., clear typographical error such as £10,000 instead of £1,000). Contact us immediately if you believe you made an error.

5. Anti-Sniping Policy

5.2 How It Works

• Auction scheduled to close at 20:00
• Bid placed at 19:59 → Auction extended to 20:01
• Another bid at 20:00 → Auction extended to 20:02
• No bids in final 2 minutes → Auction closes

This process repeats until no bids are placed in the final 2 minutes. There is no maximum extension limit.

6. Fees & Pricing

6.2 Seller Fees

Sellers pay a transparent listing fee to list an Auction Lot. A seller success fee applies on completed auctions — the exact rates are disclosed to you before you publish your auction listing. Buyer fees, including the buyer premium, are disclosed at the point of purchase before any bid is placed.

6.3 Additional Costs (Not Charged by Cyclesite)

• Delivery/shipping (arranged separately with Seller or courier)
• Insurance (recommended for transit)

7. Pre-Authorisation & Payment Hold

7.1 Bidding Pre-Authorisation

When you place a bid, a temporary pre-authorisation hold is placed on your registered payment card:

• Hold amount equals your maximum bid
• No money is taken - only a temporary hold reducing available credit
• Hold is adjusted as you increase your maximum bid
• If outbid, the hold is released within 24 hours (bank processing may take longer)

7.2 Winning Bidder

If you are the Winning Bidder:

• The pre-authorisation remains in place
• You receive immediate email notification with Seller contact details
• You have 7 Working Days to complete payment and collection
• The hold is released once you confirm purchase completion with the Seller

8. Winning Bidder Obligations

As the Winning Bidder, you are legally obligated to:

8.1 Contact the Seller

Within 24 hours of Auction close, contact the Seller using the details provided to arrange payment and collection.

8.2 Complete Payment

Pay the full Hammer Price to the Seller within 7 Working Days via:

• Bank transfer (recommended for audit trail)
• Cash on collection (bring exact amount; obtain a receipt)
• Other method agreed with Seller

8.3 Arrange Collection/Delivery

Within the 7 Working Day Completion Window, arrange collection of the Lot or agree delivery terms with the Seller.

8.4 Confirm Completion

Once you have received and are satisfied with the Lot, confirm completion through your Cyclesite account. This releases the pre-authorisation hold.

9. Payment Terms

9.1 Direct Payment

Payment is made directly from Buyer to Seller. Cyclesite does not handle transaction funds, act as an intermediary, or provide escrow services.

9.2 Recommended Payment Methods

• Bank transfer - Provides clear audit trail; verify Seller details before sending
• Cash on collection - Only hand over cash after inspecting the Lot in person

9.3 Cyclesite Liability

Cyclesite is not a party to payment arrangements and accepts no liability for payment disputes, fraud, or non-receipt of funds between Buyers and Sellers.

10. Collection & Delivery

The Lot remains with the Seller throughout the Auction. After winning:

10.1 Collection

The preferred method. Arrange a mutually convenient time to:

• Inspect the Lot in person
• Verify frame number matches listing and BikeCheck
• Complete payment (if not already done)
• Take possession of the Lot

10.2 Delivery

If delivery is agreed:

• Seller may offer delivery (terms to be agreed directly)
• Buyer may arrange third-party courier
• Ensure appropriate transit insurance is in place
• Risk passes to Buyer upon dispatch/collection

10.3 Cyclesite Responsibility

Cyclesite is not responsible for delivery arrangements, delays, damage in transit, or any delivery-related disputes.

11. Inspection Rights

11.2 Post-Auction Inspection

Upon collection, you should:

• Verify the Lot matches the listing description and photographs
• Check for undisclosed damage or issues
• Verify the frame number
• Test functionality where possible

11.3 Discrepancies

If the Lot materially differs from the listing:

1. Document the discrepancy with photos and written description
2. Raise the issue with the Seller immediately
3. Contact Cyclesite if unable to resolve
4. You may have consumer rights if buying from a Trade Seller

12. Seller Warranties

By listing a Lot for Auction, the Seller warrants that:

• They have legal ownership and authority to sell
• The Lot is free from security interests, finance, or liens
• The description is accurate, complete, and not misleading
• All defects, damage, and issues are disclosed
• Photographs accurately represent the Lot
• The frame number is genuine and has not been altered
• The Lot is not stolen, scrapped, or subject to insurance claims

12.1 Trade Seller Additional Warranties

Trade Sellers additionally warrant compliance with:

• Consumer Rights Act 2015 (goods as described, satisfactory quality)
• Consumer Protection from Unfair Trading Regulations 2008
• All applicable consumer protection legislation

13. Non-Paying Bidders

• Formal warning on your account
• Suspension of bidding privileges (temporary or permanent)
• Negative feedback visible to future Sellers
• Recovery of any losses incurred by the Seller
• Account termination for repeat offenders

13.2 Relisting

If a Winning Bidder fails to complete, the Seller may:

• Offer the Lot to the second-highest Bidder
• Relist the Lot in a new Auction
• List the Lot as a standard sale

13.3 Exceptions

Non-payment penalties may be waived if:

• The Lot materially differs from the listing description
• BikeCheck reveals undisclosed issues
• The Seller is unresponsive or unwilling to complete
• Other exceptional circumstances (at our discretion)

14. Withdrawn & Cancelled Auctions

14.1 Seller Withdrawal

Sellers may withdraw a Lot before the first bid is placed. After bidding begins:

• Withdrawal requires Cyclesite approval
• Valid reasons include: sale elsewhere, damage to Lot, material listing error
• Unjustified withdrawal may result in fees and account restrictions

14.2 Cyclesite Cancellation

Cyclesite may cancel an Auction at any time if:

• Evidence of fraud or misrepresentation
• BikeCheck reveals the Lot is stolen or has undisclosed issues
• Shill bidding (fake bids to inflate price) is suspected
• Technical errors affecting the Auction integrity
• Legal or regulatory requirements

If an Auction is cancelled, all bids are void and pre-authorisations released.

15. Platform Rights

Cyclesite reserves the right to:

• Refuse, remove, or cancel any Auction listing
• Void any bid suspected of being fraudulent or in bad faith
• Suspend or terminate user accounts
• Modify Auction timing, format, or rules with notice
• Investigate suspected violations and cooperate with law enforcement
• Amend these Auction Terms (changes apply to future Auctions only)

16. Disputes

16.1 Between Buyer and Seller

The Sale Contract is between Buyer and Seller. Cyclesite cannot resolve disputes about:

• Lot condition, quality, or fitness for purpose
• Delivery or collection arrangements
• Payment disputes (except pre-authorisation releases)
• Refund requests

16.2 Escalation Path

1. Direct communication between parties
2. For Trade Sellers: Citizens Advice, Trading Standards
3. For payment disputes: Your bank/card provider
4. For suspected fraud: Action Fraud (0300 123 2040)
5. Small Claims Court (for claims up to £10,000)

16.3 Cyclesite Assistance

We can help with:

• Providing transaction records
• Releasing pre-authorisation holds
• BikeCheck Data Guarantee claims
• Reporting fraudulent users

17. Liability Limitations

17.1 Platform Role

Cyclesite provides the Auction platform only. We are not:

• The seller or owner of any Lot
• A party to the Sale Contract
• Responsible for the condition, quality, or authenticity of Lots
• Responsible for Seller or Buyer conduct

17.2 Exclusions

To the maximum extent permitted by law, Cyclesite disclaims liability for:

• The Lot, its description, condition, or value
• Transaction completion or failure
• Delivery, collection, or transit damage
• Bid errors (including proxy bidding)
• Technical failures, outages, or timing issues
• Indirect, consequential, or unforeseeable losses
• Loss of profit, business, or opportunity

17.3 Liability Cap

Our total liability for any Auction is limited to the lower of:

• Any listing fees paid by the Seller, or
• £100

17.4 Exceptions

Nothing excludes or limits our liability for:

• Death or personal injury from our negligence
• Fraud or fraudulent misrepresentation
• Any matter which cannot be excluded by law
• BikeCheck Data Guarantee claims (subject to those terms)

18. Governing Law

These Auction Terms are governed by English law. The courts of England and Wales have non-exclusive jurisdiction.

If you reside in Scotland or Northern Ireland, you may bring proceedings in your local courts, but English law will still apply.

19. Contact Information

Cyclesite

Company Registration: 13238473

Email: support@cyclesite.co.uk

For auction-related queries, email support@cyclesite.co.uk