Last Updated: 1/8/25

1. DEFINITIONS

• "Known Source" / "We" / "Us" / "Our" – Known Source Ltd., acting as an agent for the resale of your items.

• "You" / "Seller" / "Owner" – The individual consigning items for sale through Known Source.

• "Agreement" – The contract created when you consign items under these Terms.

• "Items" – Goods you submit to Known Source for sale.

2. CONSIGNMENT TERMS

(a) Ownership & Agency

• You retain full legal ownership of the Items until they are sold, lost, stolen, or otherwise disposed of in accordance with these Terms.

• Known Source acts solely as your agent for the resale of the Items and does not take title to or ownership of them.

• You represent that you have full legal right, title, and authority to consign and sell each Item.

(b) Delivery, Risk of Loss, and Approval

• You may deliver Items to Known Source by:

  • In-person drop-off at our London location (35 Brook Street, W1K 4HQ), or

  • Shipping via a tracked and insured service.

• You are responsible for the Item until we confirm receipt and inspection. We are not liable for:

  • Damage during shipment due to inadequate packaging

  • Customs fees or unpaid duties on international shipments

• Once received, Items are subject to inspection and evaluation. If the actual condition differs from the original description, we may update the listing price accordingly or reject the Item.

(c) Acceptance Criteria

• Known Source reserves the right to accept or reject any item in our sole discretion.

• We only accept Items that are:

  • Authentic

  • Clean

  • In resale-ready condition

• If Items require cleaning, authentication services, or minor repairs, you may be charged for such services at cost.

• Items suspected to be counterfeit, altered, or stolen may be rejected, returned at your cost, or destroyed if not collected within 30 days of notification.

(d) Consignment Period & Unsold Items

• The standard consignment period is 6 months from the date we accept the Item (the “Consignment Period”).

• You may request return of any unsold Item at any time. If the request is made within 30 days of listing, an early return fee applies:

  • £15 per clothing item

  • £30 per handbag

• After the Consignment Period, we will contact you to discuss:

  • Returning the Item (shipping fee: £12)

  • Continuing resale at a reduced price (with your written consent)

  • Donation or responsible disposal after 12 months of inactivity

(e) Efforts to Sell & Pricing

• Known Source will make commercially reasonable efforts to market and sell your Item in-store, online, or through approved third-party partners.

• Pricing is mutually agreed upon before listing.

• Any further price reductions within the 6-month period require your written confirmation via email.

• Known Source may, at its discretion, promote your Item via sales or editorial content but will not discount the price without consent during the initial Consignment Period.

(f) Commission and Payment

• We sell Items on a commission basis, retaining an agreed percentage of the final selling price.

• Your net payout will be confirmed when we accept the Item and before it is listed.

• Payouts are made via bank transfer, processed weekly after the buyer’s return window closes.

• Commission structures and applicable deductions are published at:[Insert Commission Policy Link]

(g) Title Transfer & Sale Completion

An Item is considered “Sold” when:

1. It is purchased by a buyer and not returned within the applicable return period; or

2. It is lost, stolen, or damaged while in Known Source’s possession or at partner locations.

In the event of loss or damage after acceptance, Known Source will treat the Item as Sold and pay you based on the last agreed price.

(h) Return Requests & Fees

To request a return, email [email protected]. Returns will be processed within 7 business days.

Return Fees:

• Store collection (by appointment): Free

• Shipping: £12 (paid in advance)

• Early return (within 30 days of listing): £15 (clothing) / £30 (handbags)

(i) Unauthenticated or Counterfeit Items

• You warrant that all Items are genuine and free of any legal encumbrances.

• If Known Source, in its sole discretion, cannot authenticate an Item:

  • You will be notified and may retrieve the Item within 30 days.

  • If not retrieved, the Item will be destroyed or disposed of, and no proceeds will be issued.

• Known Source reserves the right to report suspicious or allegedly stolen goods to law enforcement.

(j) Dispute Resolution & Limitation of Liability

i. Informal Resolution First

If you have any concerns, complaints, or disputes relating to your consignment experience, we encourage you to first contact us directly at [email protected]. We will aim to resolve issues amicably and promptly within 14 business days.

ii. Liability

To the fullest extent permitted by applicable law:

• Known Source shall not be liable for any indirect, incidental, special, punitive, or consequential losses, including but not limited to loss of revenue, profits, or business opportunities arising out of or in connection with your use of our services.

• Our total aggregate liability under or in connection with this Agreement (whether in contract, tort, negligence, breach of statutory duty, or otherwise) shall be limited to the amount payable to you for the affected Item(s) as outlined in Section (f).

iii. Risk Acknowledgement

• You acknowledge that resale markets fluctuate, and Known Source makes no guarantees regarding time to sale, final price, or market demand.

• Known Source is not liable for any delays, failures, or damages arising from third-party platforms, couriers, payment providers, or unforeseen events beyond our reasonable control.

iv. No Waiver

Our failure to enforce any provision of these Terms shall not constitute a waiver of that or any other provision.

(k) Governing Law

These Terms are governed by the laws of England and Wales.

(l) Changes to These Terms

We may update these Terms periodically. The latest version will always be available on our website, and the "Last Updated" date will reflect any changes.