Effective Date: 1 September 2025
Last Updated: 1 September 2025

This Refund & Cancellation Policy (“Policy”) forms an integral part of the Terms & Conditions of Car Addicts Cyprus (“the Platform”, “we”, “us”, “our”) and governs the circumstances under which refunds or cancellations may be granted.

By accessing or using the www.caraddicts.com.cy platform (“the Platform”), Users acknowledge and accept the terms of this Policy.

1. Scope

1.1 This Policy applies to all transactions conducted through the Platform.

1.2 Due to the nature of auction sales, certain statutory consumer rights, including the right of withdrawal under the EU Consumer Rights Directive, do not apply to auction transactions concluded via the Platform.

2. Buyer’s Premium

2.1 The Buyer’s Premium, calculated at five percent (5%) of the final auction sale price (subject to applicable minimum and maximum limits), is non-refundable once an auction has closed, irrespective of whether the purchase is completed.

2.2 The Buyer’s Premium is payable directly to the Platform and is separate from the vehicle purchase price.

3. Security Deposit

3.1 To participate in bidding, Buyers must provide a refundable security deposit of €100 via pre-authorisation on a registered payment card.

3.2 Where the Buyer is not the winning bidder, the Platform will release the pre-authorisation promptly after the auction closes If the Buyer is the winning bidder, the deposit will be released within fourteen (14) days of the auction end date unless the Buyer fails to complete the purchase in accordance with the Terms and Conditions in which case the deposit will be forfeited. The deposit funds will become available after the release depending on the Buyer’s Bank’s policies..

4. Payments Between Buyers and Sellers

4.1 Payments of the vehicle purchase price are made directly between Buyer and Seller, via payments to the Seller’s designated bank account unless an escrow arrangement is expressly facilitated by the Platform.

4.2 The Platform shall bear no responsibility for refunds of the vehicle purchase price and shall not be liable for any non-payment or disputes arising therefrom.

4.3 Any dispute concerning a refund of the purchase price shall be resolved directly between Buyer and Seller, without the Platform’s involvement, except as may be provided in the Disputes & Limitation of Liability section of the Terms & Conditions.

5. Cancellation of Listings

5.1 By Sellers:
(a) A Seller may withdraw a listing before the auction start date; however, if the mechanical inspection or photoshoot has already been completed, the Seller is responsible for covering those costs.

b) Withdrawal of a listing after the auction has commenced is prohibited.

5.2 By the Platform:
(a) The Platform reserves the right to cancel any listing at its discretion, including for suspected fraud, provision of false or misleading information, or breach of the Terms & Conditions.
(b) Where a listing is cancelled by the Platform before the auction closes, any Buyer’s Premium already collected in respect of that listing shall be refunded.

6. Optional Services

6.1 Fees paid for optional services (including, but not limited to, professional photography, concierge services, and enhanced listings) are non-refundable once the service has been delivered.

6.2 Where an optional service is cancelled prior to commencement, a refund may be issued at the Platform’s sole discretion.

7. No Cooling-Off Period for Auction Sales

7.1 Users acknowledge that, pursuant to Article 16(m) of the EU Consumer Rights Directive (2011/83/EU) as transposed into Cypriot law, no statutory right of withdrawal applies to auction transactions.

7.2 By placing a bid, a Buyer enters into a legally binding agreement with the Seller to purchase the vehicle if the bid meets or exceeds the reserve price and into a legally binding agreement with the Platform to pay the Buyer’s Premium.

8. Refund Requests

8.1 Refund requests relating to amounts paid to the Platform (including Buyer’s Premium or fees for optional services) must be submitted in writing to info@caraddicts.com.cy within seven (7) calendar days of the relevant transaction.

8.2 Requests must include:
(a) Full name and account email address;
(b) Auction lot number;
(c) Proof of payment; and
(d) Detailed reason for the request.

8.3 Approved refunds shall be processed to the original payment method within fourteen (14) working days of approval.

9. Amendments

The Platform reserves the right to amend or update this Policy at any time. Material changes shall be notified to Users via email, account notification, or a notice on the Platform. Continued use of the Platform following such notification shall constitute acceptance of the amended Policy.