Terms & Conditions of Sale (Buyers & Sellers) Updated: July 22, 2025

Overview

“We”, “us”, or “Verse” refers to Art Technologies Limited, a private limited company registered in the UK with its principal office at Arquen House, 4–6 Spicer Street, St Albans, Hertfordshire, AL3 4PQ. “You” refers to buyers, sellers, and their agents.

Verse may act as agent for the seller, or in some cases as principal. A binding sale contract is formed directly between buyer and seller when a Lot is sold. Auctions may include physical artworks, NFTs, experiences, and other digital or tangible property, as described in sale.

Definitions

• Buyer’s Premium: No buyer’s premium is charged.
• Platform Fee: Verse deducts a platform commission from the sale price (the hammer price) before proceeds are distributed.
• Purchase Price (paid by buyer): The hammer price only.
• Proceeds (paid to seller): Net sale amount after deduction of platform fee and artist royalties (if applicable).
• NFT: A non-fungible token recorded on a blockchain, possibly linked to digital or physical content ("Referenced Content").
• Reserve: The confidential minimum sale price agreed between the seller and Verse.
• Lot: Any item offered for sale, including digital and physical works.

Auction Terms & Conditions of Sale

Property & Lot Descriptions

All Lots are offered “as is.” Verse does not provide warranties and disclaims responsibility for the condition, functionality, or authenticity of any Lot, except where explicitly guaranteed.

Sellers must provide accurate information about their Lots. Buyers are responsible for conducting their own due diligence prior to bidding. NFT Lots may carry unique technological, regulatory, and market risks.

Bidding & Sale

Bidding is binding. Verse may refuse, revoke, or cancel bids at its sole discretion. The highest accepted bid at close constitutes a binding sale. Sellers agree not to bid on their own Lots.

Verse may offer timed, live, or hybrid auctions, and may facilitate post-auction sales under these Conditions. Lots may be held for up to 30 days following the close of the auction to allow the Verse team to explore private sales to potential buyers for unsold lots at or above the reserve price, unless otherwise agreed in writing.