Terms of Service

Welcome to Luxury Stock Exchange ("LSE," "we," "us," or "our"), a service operated by LSM o/s Luxury Stock Exchange, a corporation organized under the laws of the Province of Alberta, Canada, with its principal place of business in Calgary, Alberta, Canada (the "Company").

These Terms of Service, together with our Privacy Policy and any policies or supplemental terms referenced here (collectively, the "Terms"), form a binding agreement between you ("you," "your," or "Member") and the Company, and govern your access to and use of the LSE website, applications, content, tools, data, and services (collectively, the "Platform").

By accessing or using the Platform, creating an account, or clicking to accept these Terms, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree, you may not access or use the Platform.

Bag means a physical, pre-owned or new luxury handbag or accessory made available for purchase through the Platform.

Listing Partner means the third-party resale platform through which a Member's owned Bag is listed and sold, and which remits sale proceeds directly to the Member. The current Listing Partner is Luxe Du Jour (ldj.com). LSE may add, change, or remove Listing Partners at its discretion.

Member means any person who registers for, accesses, or uses the Platform.

Membership means a Member's right to access the Platform and its features, subject to any applicable fees and these Terms.

Opportunity means a curated Bag made available on the Platform, together with related descriptive and historical data.

Payment Processor means a third-party service that processes payments in connection with a purchase.

Proceeds means the amount remitted to a Member by a Listing Partner following the resale of the Member's Bag, net of applicable fees.

Seller means the party that sells a Bag to a Member in the initial purchase (which may be the Company, a Listing Partner, or a third-party consignor, as identified at the point of sale).

Please read this Section carefully. It defines what the Platform is and is not.

3.1 A Marketplace for Physical Goods

LSE is a technology, curation, and data platform that connects Members with opportunities to purchase authenticated physical luxury goods and to have those goods listed for resale through a Listing Partner. The Platform facilitates the purchase and resale of real, tangible personal property. It is a marketplace for goods.

3.2 Not a Securities Exchange or Investment Platform

The Platform is not a securities exchange, alternative trading system, broker, dealer, broker-dealer, investment adviser, investment platform, crowdfunding portal, or financial market of any kind. LSE is not registered with, and is not regulated by, the U.S. Securities and Exchange Commission, the Alberta Securities Commission, or any other securities or financial regulator, and no such registration is required for the purchase and sale of physical goods.

Nothing offered, listed, or made available on the Platform is a security, investment contract, share, stock, bond, note, derivative, fund interest, or other financial instrument or investment product. When you purchase a Bag, you are buying a physical good, not a security or an investment.

3.3 Not a Bank; No Custody of Funds

LSE is not a bank, money services business, money transmitter, payment institution, or custodian. LSE does not hold, custody, control, pool, invest, lend, or transmit Member funds at any time. All payments for purchases are handled by third-party Payment Processors and/or Sellers, and all Proceeds from resales are remitted directly to Members by the Listing Partner. LSE never takes possession or control of your money.

3.4 Branding and Terminology

The name "Luxury Stock Exchange" and terms used on the Platform such as "exchange," "market," "index," "portfolio," "opportunity," "trade," and similar words are used solely as descriptive branding to convey a data-driven marketplace experience. These terms are used in their ordinary, colloquial sense and do not denote or create a securities exchange, financial market, brokerage, investment account, or any regulated financial service, and do not imply that any product is a security or investment.

3.5 No Advice; No Fiduciary Relationship

LSE does not provide investment, financial, legal, tax, or accounting advice. Historical data, estimates, demand indicators, and other information provided on the Platform are for general informational purposes only, are not advice or recommendations, and should not be relied upon as such. No fiduciary, advisory, agency, trust, partnership, or joint venture relationship is created between you and LSE by these Terms or your use of the Platform, except as expressly stated.

3.6 No Guarantees; Assumption of Risk

LSE does not guarantee that any Bag will resell, will resell within any period of time, or will resell at any particular price or at a profit. Resale prices and demand fluctuate and are affected by many factors outside anyone's control. You may receive Proceeds that are less than the amount you paid for a Bag, and you may lose money. You purchase each Bag at your own risk and you assume all risks of ownership, including the risk that the Bag does not resell or resells at a loss. Past performance and historical data are not a prediction or guarantee of future outcomes.

To use the Platform, you must be at least 18 years of age (or the age of majority in your jurisdiction, if higher), have the legal capacity to enter into a binding contract, and not be barred from using the Platform under applicable law. By using the Platform, you represent and warrant that you meet these requirements. The Platform is intended for use in Calgary, Alberta, Canada. You are responsible for compliance with all laws applicable to you.

5.1 Registration

You may need to create an account and, where applicable, purchase a Membership to access certain features. You agree to provide accurate, current, and complete information and to keep it updated.

5.2 Account Security

You are responsible for maintaining the confidentiality of your account credentials and for all activity under your account. Notify us promptly of any unauthorized use. We are not liable for losses arising from unauthorized use of your account.

5.3 Membership Fees

Membership and certain features may require payment of fees as described at the point of purchase or in an applicable fee schedule. Fees are non-refundable and are subject to change on notice. Applicable taxes may apply.

6.1 Purchase

When you claim and pay for a Bag through the Platform, you enter into a purchase of that physical good from the applicable Seller, processed through a Payment Processor. The identity of the Seller of record will be made available at or before the point of sale.

6.2 Ownership

Upon completion of your purchase and payment in full, title to and ownership of the Bag passes to you, subject to any applicable terms disclosed at purchase. You own the Bag. You are the sole owner of a specific, identifiable physical item, and not the owner of a share, interest, pool, or instrument.

6.3 Possession and Control

As the owner, subject to any listing arrangement you elect, you may (a) have the Bag listed for resale through a Listing Partner, (b) request delivery of physical possession of the Bag, or (c) otherwise deal with the Bag as its owner, in each case as and to the extent described on the Platform and permitted by applicable Listing Partner terms.

6.4 Authentication and Condition

Bags are professionally authenticated and quality-checked before being offered. Descriptions, images, and condition notes are provided in good faith. Except as expressly stated and to the fullest extent permitted by law, Bags are sold "as is," and the disclaimers and limitations in Sections 13 and 14 apply.

7.1 Listing Arrangement

If you elect to resell your Bag, you authorize the listing of your owned Bag for resale through the applicable Listing Partner (currently ldj.com). The resale of your Bag is a transaction between you (as owner) and the eventual buyer, facilitated by the Listing Partner. Such resale may be governed by the Listing Partner's own terms, consignment terms, and policies, which you agree to review and accept as applicable.

7.2 LSE's Role

In connection with resale, LSE acts as a curation, technology, and tracking service. LSE is not the seller, buyer, principal, agent, guarantor, or escrow holder in the resale of your Bag, and does not warrant or guarantee any resale outcome, price, timing, or the performance of any Listing Partner.

7.3 Payouts

Upon a completed resale, the Listing Partner remits the Proceeds directly to you, net of applicable Listing Partner fees, LSE platform fees (if any and as disclosed), and any taxes or amounts required to be withheld. LSE does not receive, hold, or disburse your Proceeds. Payout timing and methods are determined by the Listing Partner and Payment Processor.

Applicable fees, including any Membership fee, platform fee, or transaction fee, will be disclosed to you before you incur them, in these Terms, at the point of sale, or in a published fee schedule. You authorize the applicable Payment Processor, Seller, or Listing Partner to charge or deduct disclosed fees. Except as required by law or expressly stated, fees are non-refundable.

All payments and payouts are handled by third-party Payment Processors, Sellers, and Listing Partners. By using the Platform, you agree to the applicable third parties' terms and authorize them to process the relevant transactions. LSE does not hold, custody, or transmit your funds and is not responsible for the acts, omissions, delays, errors, or insolvency of any Payment Processor, Seller, or Listing Partner, except to the extent such exclusion is not permitted by law.

You are solely responsible for determining and paying any taxes applicable to your purchases, ownership, and resale of Bags, and to any Proceeds you receive. Where required by law, the Company, a Seller, or a Listing Partner may collect tax, withhold amounts, or report transactions or Proceeds to tax authorities (for example, applicable IRS or Canada Revenue Agency reporting).

You agree not to:

• Use the Platform for any unlawful, fraudulent, or unauthorized purpose
• Misrepresent your identity or provide false information
• Engage in money laundering or use the Platform to disguise the origin of funds
• Scrape, harvest, copy, reverse engineer, or extract the Platform's data, analytics, pricing intelligence, or content, except as expressly permitted
• Interfere with or disrupt the Platform's operation or security
• Resell, sublicense, or commercially exploit access to the Platform except as expressly permitted
• Violate any applicable law or third-party right

We may suspend or terminate access for violations.

12.1 Ownership

The Platform, including its software, design, text, graphics, logos, trademarks, trade names (including "Luxury Stock Exchange" and "LSE"), data, databases, analytics, pricing intelligence, methodologies, and all related intellectual property, is owned by the Company or its licensors and is protected by intellectual property laws. All rights not expressly granted are reserved.

12.2 Limited License

Subject to these Terms, the Company grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to access and use the Platform for your personal, non-commercial use as a Member. This license does not include any right to the Company's data, analytics, or content beyond ordinary permitted use.

12.3 Feedback

Any feedback or suggestions you provide may be used by the Company without restriction or obligation to you.

To the fullest extent permitted by law, the Platform, all Bags, all data, and all services are provided "as is" and "as available," without warranties of any kind, whether express, implied, or statutory, including implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement.

Without limiting the foregoing, the Company does not warrant that: (a) any Bag will resell or resell at a profit or within any time; (b) any data, estimate, or historical information is accurate, complete, or predictive; or (c) the Platform will be uninterrupted, secure, or error-free. Some jurisdictions do not allow certain warranty exclusions, so some of the above may not apply to you.

To the fullest extent permitted by law, the Company and its officers, directors, employees, agents, affiliates, licensors, and service providers will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for any loss of profits, revenue, data, goodwill, resale value, or anticipated returns, arising out of or relating to the Platform, any Bag, any Listing Partner, any Payment Processor, or these Terms, whether based in contract, tort (including negligence), strict liability, or otherwise, and even if advised of the possibility of such damages.

TO THE FULLEST EXTENT PERMITTED BY LAW, THE COMPANY'S TOTAL AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO THE PLATFORM OR THESE TERMS WILL NOT EXCEED THE GREATER OF (A) THE TOTAL FEES YOU PAID TO THE COMPANY IN THE SIX (6) MONTHS PRECEDING THE CLAIM, OR (B) CAD $100. SOME JURISDICTIONS DO NOT ALLOW CERTAIN LIMITATIONS, SO SOME OF THE ABOVE MAY NOT APPLY TO YOU.

You acknowledge that the fees (if any) paid by you to the Company reflect the allocation of risk in these Terms, and that these limitations are an essential basis of the bargain between you and the Company.

You expressly acknowledge and agree that:

• The purchase, ownership, and resale of physical luxury goods involves risk, including risk of loss of value, damage, delay, non-resale, unsuccessful authentication challenges by third parties, changes in market demand, and changes in condition over time.
• The Company does not guarantee any resale, resale timing, resale price, profit, return, liquidity, or market for any Bag.
• Historical data, estimates, projected margins, demand indicators, and portfolio figures shown on the Platform are informational only, may be inaccurate or incomplete, and are not a promise or prediction of future results.
• The Company is not responsible for the acts, omissions, delays, errors, insolvency, or breach of any Listing Partner, Payment Processor, shipping carrier, authenticator, or other third party.
• You are solely responsible for your decisions to purchase, hold, list, or sell any Bag.

To the fullest extent permitted by law, you hereby release, waive, and forever discharge the Company and its officers, directors, employees, agents, affiliates, licensors, and service providers from any and all claims, demands, causes of action, damages, losses, and expenses (whether known or unknown, suspected or unsuspected) arising out of or relating to (a) your purchase, ownership, use, storage, listing, or resale of any Bag, (b) the performance or non-performance of any Listing Partner or Payment Processor, (c) any market, resale, valuation, or authentication outcome, or (d) any content, data, estimate, or projection displayed on the Platform.

You agree to indemnify, defend, and hold harmless the Company and its officers, directors, employees, agents, affiliates, licensors, and service providers from and against any and all claims, liabilities, damages, losses, judgments, fines, penalties, costs, and expenses (including reasonable legal fees and expenses) arising out of or related to: (a) your access to or use of the Platform; (b) your purchase, ownership, listing, or resale of any Bag; (c) your breach or alleged breach of these Terms; (d) your violation of any law, regulation, or third-party right; (e) any content or information you submit or transmit through the Platform; or (f) any dispute between you and any Listing Partner, Payment Processor, buyer, seller, or other third party. The Company reserves the right, at your expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which case you agree to cooperate with the Company's defense.

The Platform integrates with and links to third-party services, including Payment Processors and Listing Partners. Your use of those services is governed by their own terms and policies. The Company is not responsible for third-party services and does not endorse or assume liability for them.

These Terms apply while you access or use the Platform. We may suspend or terminate your access at any time, with or without cause or notice, including for violation of these Terms. You may stop using the Platform at any time. Provisions that by their nature should survive termination (including Sections 3, 6.2, 10, 12, 13, 14, 15, 16, 19, and 20) will survive.

18.1 Governing Law

These Terms are governed by the laws of the Province of Alberta, Canada, and the federal laws of Canada applicable therein, without regard to conflict-of-laws principles. The courts located in Calgary, Alberta, Canada will have exclusive jurisdiction over any dispute not subject to arbitration.

18.2 Informal Resolution

Before starting any formal proceeding, you agree to contact us at info@luxurystockmarket.com and attempt to resolve the dispute informally for at least 30 days.

18.3 Arbitration

Any dispute not resolved informally will be resolved by binding arbitration administered by the ADR Institute of Canada (ADRIC) under its Arbitration Rules, seated in Calgary, Alberta, Canada, except that either party may bring an individual claim in small claims court.

18.4 Class Action Waiver; Jury Trial Waiver

To the extent permitted by law, disputes will be resolved only on an individual basis, and you and the Company waive any right to participate in a class, collective, or representative action, and, where applicable, waive any right to a jury trial.

We may update these Terms from time to time. Material changes will be communicated by posting the updated Terms with a new "Last Updated" date and, where required, by additional notice. Your continued use of the Platform after changes take effect constitutes acceptance.

Your use of the Platform is subject to our Privacy Policy, which is incorporated into these Terms.

Entire Agreement. These Terms, together with referenced policies, constitute the entire agreement between you and the Company regarding the Platform and supersede prior agreements.

Severability. If any provision is found unenforceable, the remaining provisions remain in effect.

No Waiver. Failure to enforce any provision is not a waiver.

Assignment. You may not assign these Terms without our consent. We may assign them in connection with a merger, acquisition, or sale of assets.

Force Majeure. The Company is not liable for delays or failures caused by events beyond its reasonable control.

Notices. We may provide notices to you electronically. You may contact us at info@luxurystockmarket.com.

Relationship. The parties are independent contractors; nothing creates a partnership, agency, or employment relationship.

24.1 Overview

This Cookie Policy explains how the Company uses cookies and similar technologies (such as pixels, tags, and local storage) on the Platform. It should be read with our Privacy Policy.

24.2 What Cookies Are

Cookies are small text files placed on your device when you visit a website. They allow the Platform to recognize your device, remember your preferences, keep you signed in, and understand how the Platform is used.

24.3 Categories We Use

• Strictly Necessary. Required for the Platform to function, including security, sign-in, and checkout. These cannot be switched off.
• Functional. Remember your preferences and settings.
• Analytics and Performance. Help us understand usage and improve the Platform.
• Advertising and Targeting. Used to deliver and measure relevant marketing, where enabled.

Analytics and performance providers currently include [Google Analytics], [Shopify], and [Klaviyo]. Whether advertising and targeting cookies are used: [Confirm whether used]. Cookies may be set by us (first-party) or by third parties whose services we use (third-party).

24.4 Legal Basis and Consent

Where required by law (for example, in the EU/UK), we place non-essential cookies only with your consent, obtained through our cookie banner or preference tool. You may withdraw consent at any time.

24.5 Managing Cookies

You can manage cookies through our [cookie preference tool] and through your browser settings, including deleting or blocking cookies. Blocking some cookies may affect Platform functionality. We [do / do not] respond to browser "Do Not Track" signals.

24.6 Changes and Contact

We may update this Cookie Policy from time to time. Questions may be sent to info@luxurystockmarket.com.

25.1 Scope

This Acceptable Use Policy applies to every person who accesses or uses the Platform. Violation may result in suspension or termination and referral to authorities.

25.2 Prohibited Conduct

You may not:

• use the Platform for any unlawful, fraudulent, deceptive, or unauthorized purpose;
• engage in or facilitate money laundering, terrorist financing, sanctions evasion, or the disguising of the source of funds;
• provide false information, impersonate any person or entity, or misrepresent your identity or affiliation;
• create multiple or fake accounts, or use bots, scripts, or automated means to access, claim, or transact;
• scrape, crawl, harvest, index, copy, mine, reverse engineer, decompile, or extract the Platform's data, analytics, pricing intelligence, methodologies, code, or content, except as expressly permitted in writing;
• circumvent, disable, or interfere with security features, fees, transaction flows, or access controls;
• introduce malware or attempt to gain unauthorized access to the Platform, accounts, or systems;
• infringe the intellectual property or other rights of any person;
• resell, sublicense, rent, or commercially exploit access to the Platform except as expressly permitted;
• manipulate, disrupt, or abuse the marketplace, pricing, listings, or any Member or Listing Partner; or
• harass, threaten, defame, or harm any person, or post unlawful, obscene, or infringing content.

25.3 Content Standards

Any content you submit must be accurate, lawful, and yours to submit, and must not be misleading or infringing.

25.4 Enforcement

We may investigate, remove content, suspend or terminate access, reverse transactions where permitted, and cooperate with law enforcement. We may act with or without notice.

25.5 Reporting

Report suspected violations to info@luxurystockmarket.com.

26.1 Ownership

All content and materials on the Platform, including software, source code, user interfaces, design, "look and feel," text, graphics, images, logos, trademarks and trade names (including "Luxury Stock Exchange" and "LSE"), databases, data compilations, analytics, pricing intelligence, models, methodologies, and documentation (collectively, "Company IP"), are owned by the Company or its licensors and protected by copyright, trademark, trade secret, and other laws. The selection, arrangement, and compilation of data on the Platform are themselves protected.

26.2 Limited License to Members

Subject to the Terms, the Company grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to access and use the Platform for your personal, non-commercial use as a Member. No other rights are granted.

26.3 Restrictions

You may not copy, reproduce, distribute, publicly display, modify, create derivative works from, scrape, data-mine, reverse engineer, or otherwise exploit any Company IP, and you may not remove or alter any proprietary notices, except as expressly permitted in writing.

26.4 Member Content

If you submit content to the Platform, you retain ownership but grant the Company a worldwide, royalty-free, sublicensable, transferable license to use, host, store, reproduce, modify, and display that content to operate, promote, and improve the Platform. You represent that you have the rights to grant this license.

26.5 Feedback

Any feedback or suggestions you provide may be used by the Company freely and without obligation to you.

26.6 Reservation

All rights not expressly granted are reserved.

27.1 Company Marks

"Luxury Stock Exchange," "LSE," associated logos, and other Company brand elements are trademarks or trade dress of the Company. You may not use them without prior written permission.

27.2 Third-Party Brands

Brand names, model names, logos, and trademarks of handbag manufacturers and other third parties (for example, Hermès, Chanel, Dior, Louis Vuitton, and others) are the property of their respective owners. The Company and the Platform are not affiliated with, authorized by, sponsored by, or endorsed by any such brand. Such marks are used only for the descriptive, nominative purpose of identifying authentic pre-owned or new physical goods offered for resale. All goods are independently sourced and authenticated.

27.3 Respect for Copyright

The Company respects intellectual property rights and expects Members to do the same. Infringing content is prohibited and may be removed.

27.4 Notice of Alleged Infringement

If you believe content on the Platform infringes your copyright, send a notice to our designated agent at info@luxurystockmarket.com including: (a) your contact information; (b) identification of the copyrighted work; (c) identification of the allegedly infringing material and its location; (d) a statement of good-faith belief that the use is unauthorized; (e) a statement, under penalty of perjury where applicable, that the information is accurate and you are authorized to act; and (f) your signature.

27.5 Notice-and-Notice and Notice-and-Takedown

The Company will respond to valid notices consistent with applicable law, including the U.S. Digital Millennium Copyright Act (notice-and-takedown, counter-notice) and the Canadian notice-and-notice regime, as applicable. [Counsel to confirm DMCA agent registration and process].

27.6 Counter-Notice and Repeat Infringers

Where applicable, affected users may submit a counter-notice. The Company maintains a policy of terminating, in appropriate circumstances, the accounts of repeat infringers.

28.1 What an Opportunity Is

An "Opportunity" is the curated ability to purchase a specific, identifiable physical Bag through the Platform. An Opportunity is not a security, share, unit, fraction, token, pool, fund interest, or financial instrument, and it does not represent any interest in the Company or any Listing Partner.

28.2 Ownership and Title

When you claim an Opportunity and complete payment in full, full legal title to and ownership of that specific physical Bag passes to you, subject to any terms disclosed at purchase. You individually and solely own one identifiable physical item. You do not own a share of a bag, a basket of bags, or a right to a payment stream.

28.3 Rights of Ownership

As owner, you may, subject to the Terms and any applicable Listing Partner terms: (a) authorize the listing of your Bag for resale through a Listing Partner; (b) request delivery of physical possession of your Bag; or (c) otherwise deal with your Bag as its lawful owner.

28.4 Custody During Listing

While your Bag is listed for resale, it may be held in the physical custody of a Listing Partner or its logistics provider for the limited purpose of authentication, photography, storage, and fulfillment. Physical custody for these purposes does not transfer ownership; you remain the owner. Terms relating to custody, care, insurance, and loss during this period are governed by the applicable Listing Partner terms. [Counsel and Listing Partner to confirm bailment, insurance, and risk-of-loss allocation].

28.5 Risks of Ownership

As owner, you bear the ordinary risks of owning a physical good, including that its market value may fall, that it may not resell, that it may resell for less than you paid, and that resale timing is uncertain. Ownership is not a promise of resale or profit. See the Risk Disclosure in Section 30.

28.6 No Company Interest

Once you own a Bag, the Company holds no ownership interest in it and does not guarantee its resale or value. The Company's role is curation, technology, and facilitation, as described in Section 29.

29.1 Listing Partners

A "Listing Partner" is a third-party resale platform through which a Member's owned Bag is listed and sold and which remits Proceeds directly to the Member. The current Listing Partner is Luxe Du Jour (ldj.com). The Company may add, change, or remove Listing Partners at its discretion, with notice where required.

29.2 Authorization to List

By electing to resell a Bag you own, you authorize the listing and sale of that Bag through the applicable Listing Partner and agree to the Listing Partner's applicable terms, consignment terms, and policies.

29.3 The Company's Role

In connection with resale, the Company provides curation, technology, tracking, and facilitation services only. The Company is not the seller, buyer, principal, agent, consignee, escrow holder, or guarantor in the resale of your Bag, and does not guarantee any resale, price, timing, or the performance, solvency, or conduct of any Listing Partner.

29.4 Payouts

Upon a completed resale, the Listing Partner remits the Proceeds directly to you, net of applicable Listing Partner fees, any disclosed Company platform fee, and any taxes or amounts required to be withheld. The Company does not receive, hold, or disburse your Proceeds. Payout method and timing are set by the Listing Partner and Payment Processor.

29.5 Fees

Fees applicable to resale, including any Listing Partner fee and any Company platform fee, will be disclosed before you incur them.

29.6 Disputes with Listing Partners

Issues concerning the physical handling, sale, or payout of your Bag are between you and the Listing Partner and are governed by the Listing Partner's terms. The Company will make commercially reasonable efforts to assist but is not responsible for the acts or omissions of any Listing Partner, except to the extent such exclusion is not permitted by law.

Please read this disclosure carefully. By using the Platform, you acknowledge and accept it.

30.1 You Are Buying Physical Goods, Not Investing

Purchasing a Bag through the Platform is the purchase of a physical good. It is not an investment, and a Bag is not a security, investment contract, share, fund interest, or financial instrument.

30.2 No Guarantees

The Company does not guarantee that any Bag will resell, will resell within any time, or will resell at any price or at a profit. You may lose money. You may receive Proceeds that are less than what you paid, or your Bag may not resell at all.

30.3 Not a Securities Exchange, Broker, or Adviser

The Platform is not a securities exchange, broker, dealer, or investment adviser, is not registered with any securities or financial regulator, and provides no brokerage, advisory, or investment services. The Company owes you no fiduciary duty.

30.4 No Advice

Nothing on the Platform is investment, financial, legal, tax, or accounting advice or a recommendation to buy, hold, or sell anything. You are solely responsible for your decisions and should consult your own advisors.

30.5 Informational Data Only

Historical data, estimated resale ranges, sell-through estimates, demand indicators, and index-style metrics are informational and illustrative only. They are not predictions, guarantees, or advice, and past results do not indicate future outcomes.

30.6 Categories of Risk

Risks include, without limitation: market and price risk (values fluctuate); liquidity risk (a Bag may not sell quickly or at all); condition and authenticity risk; counterparty and Listing Partner risk; platform and technology risk; regulatory and legal risk; and tax risk. You are responsible for your own taxes.

30.7 Branding

Terms such as "exchange," "market," "index," "portfolio," "opportunity," and "trade" are descriptive branding used in their ordinary sense and do not denote a securities exchange, regulated market, brokerage account, or investment product.

30.8 Acknowledgment

By using the Platform, you acknowledge that you have read and understood this disclosure, that you are acquiring physical goods at your own risk, and that you accept the terms and limitations set out in these Terms.

31.1 Purpose

This policy protects the trust, authenticity, and fairness of the Platform for all Members and Listing Partners.

31.2 Authenticity

Every Bag offered is professionally authenticated and quality-checked. Counterfeit, stolen, or misrepresented goods are strictly prohibited. The Company may remove listings and take action where authenticity or provenance is in doubt.

31.3 Prohibited Conduct

The following are prohibited: fraud or misrepresentation; fake, duplicate, or misleading listings; price manipulation, wash transactions, shill activity, or collusion designed to create false impressions of demand, price, or velocity; circumventing the Platform to avoid fees; chargeback abuse; and any conduct that distorts or abuses the marketplace or its data.

31.4 No Manipulation

The Company presents information based on real, historical resale activity. Any attempt to manipulate listings, metrics, leaderboards, or perceived market activity is prohibited and may result in immediate removal, reversal, forfeiture, and referral to authorities.

31.5 Verification

The Company or its Payment Processors and Listing Partners may verify Member identity and screen transactions as reasonably necessary, including for fraud prevention and applicable anti-money-laundering purposes.

31.6 Enforcement and Cooperation

The Company may investigate suspected violations, suspend or terminate accounts, cancel or reverse transactions where permitted, withhold or forfeit amounts tied to prohibited conduct, and cooperate with and report to law enforcement and regulators.

32.1 What We Provide

The Platform presents data and metrics relating to luxury handbags, which may include historical sale prices, estimated resale ranges, estimated sell-through times, demand indicators, and aggregate metrics or index-style figures (collectively, "Market Information").

32.2 Sources

Market Information is derived primarily from the historical transaction data of the Company and its affiliates and Listing Partners, accumulated over more than a decade of luxury resale activity, together with other data the Company may use.

32.3 Methodology and Nature of Estimates

Market Information is generated using the Company's proprietary methodologies and models. Estimates, ranges, and projected figures are illustrative and are based on historical data and assumptions that may not hold in the future. Figures may be rounded, aggregated, modeled, or presented for illustration.

32.4 Informational Only; No Advice or Guarantee

Market Information is provided for general informational purposes only. It is not investment, financial, or other advice, not a recommendation, and not a prediction or guarantee of any outcome. Past performance and historical data do not indicate or guarantee future results. You are solely responsible for your own decisions.

32.5 Not a Regulated Benchmark

Any market activity indicator, inventory flow signal, resale trend, opportunity trend, or similar metric presented on the Platform is a proprietary, illustrative brand feature describing activity on the Platform and among participating Listing Partners. It is not a financial benchmark, securities index, or regulated market indicator, is not administered as such, and must not be relied upon as one.

32.6 Accuracy and Availability

The Company strives for accuracy but does not warrant that Market Information is accurate, complete, current, or error-free. Market Information may change without notice and may be incomplete or unavailable.

32.7 Ownership and Restrictions

All Market Information, data compilations, methodologies, and models are Company IP and may be confidential or trade secret. You may not scrape, extract, redistribute, resell, or use Market Information except for your ordinary personal use of the Platform as a Member. Unauthorized use is prohibited and may be unlawful.

32.8 Changes

The Company may change its data, metrics, and methodologies at any time.

33.1 Overview

Luxury Stock Exchange may display informational metrics, analytics, charts, summaries, rankings, activity indicators, historical resale information, inventory trends, opportunity trends, portfolio summaries, or similar data (collectively, "Market Metrics").

33.2 Purpose

Market Metrics are provided solely to help users understand activity occurring on the Platform and among participating partner marketplaces. They are intended for informational and educational purposes only.

33.3 Not Financial Instruments or Advice

Market Metrics do not constitute financial benchmarks, securities indices, investment ratings, valuations, guarantees, forecasts, recommendations, or professional advice. They should not be relied upon as the sole basis for making purchasing, financial, tax, legal, accounting, or business decisions.

33.4 Methodology and Sources

Luxury Stock Exchange may calculate Market Metrics using proprietary methodologies, historical resale information, partner platform activity, publicly available market information, user activity, or other data sources. These methodologies may change over time without notice.

33.5 No Guarantee of Accuracy or Future Performance

Because Market Metrics are based on available information, estimates, assumptions, and historical observations, they may contain delays, inaccuracies, omissions, or revisions and should not be interpreted as guarantees of future performance, resale timing, pricing, or demand.

33.6 Terminology

Terms such as "market activity," "inventory flow," "opportunity trend," "resale trend," "market pulse," "snapshot," "portfolio," and similar labels used on the Platform are descriptive branding referring to activity within the Platform and participating partner marketplaces. They do not denote a securities exchange, regulated market, financial benchmark, brokerage account, or investment product.