Terms of Service

Version 1.0 · Effective April 10, 2026 · Last updated April 10, 2026

Please read these Terms of Service carefully before using SBOit.com. By creating an account or using our platform, you agree to be bound by these terms.

1. Acceptance of Terms

By accessing or using the SBOit.com website and services (the "Platform"), operated by SBOit LLC ("SBOit," "we," "us," or "our"), you agree to be bound by these Terms of Service ("Terms"), our Privacy Policy, and our Cookie Policy. If you do not agree to these Terms, you may not use the Platform.

We may modify these Terms at any time. Material changes will be communicated to registered users by email at least 30 days before they take effect. Your continued use of the Platform after changes become effective constitutes acceptance. For critical changes affecting your rights or obligations, we may require re-acceptance before you can continue using certain features.

2. Account Responsibilities

To use certain features, you must create an account. You agree to:

  • Provide accurate, current, and complete information during registration.
  • Maintain the security of your password and account credentials.
  • Notify us immediately of any unauthorized use of your account.
  • Accept responsibility for all activities that occur under your account.

You must be at least 18 years of age to create an account. Accounts are for individual use and may not be shared or transferred.

3. Permitted Use and Prohibited Conduct

You may use the Platform to list assets for sale, place bids or offers, browse listings, and engage in related transactions as described in our service documentation.

You agree not to:

  • Submit false, misleading, or fraudulent listings or bids.
  • Manipulate bidding through shill bidding, bid shielding, or collusion.
  • List items you do not own or are not authorized to sell.
  • List stolen, counterfeit, or illegal items.
  • Interfere with the operation of the Platform or circumvent security measures.
  • Harvest data, scrape content, or use automated tools without authorization.
  • Harass, threaten, or discriminate against other users.
  • Use the Platform for money laundering or other illegal financial activities.

We reserve the right to suspend or terminate accounts that violate these terms without prior notice.

4. Listings, Sales, and Fees

Agent Verification

All listings on SBOit must be verified by an independent agent before they go live. The verification fee starts at $50 per item and is non-refundable. Volume discounts may be available for multiple items at a single location.

Sale Types

SBOit supports three sale formats: Live Auction, Sealed Bid, and Fixed Price (Buy Now). Each format has its own rules as described on its respective page.

Commission

Commission is charged only on successful sales and varies by sale type:

  • Live Auction: Sliding-scale commission based on final sale price.
  • Sealed Bid: 4–6% commission scaled by number of items.
  • Fixed Price: 3% flat commission on the accepted price.

No commission is charged if an item does not sell.

Binding Bids and Offers

All bids placed in auctions and sealed bid events are binding commitments to purchase. Buy Now purchases are immediately binding. Failure to complete a transaction may result in account suspension.

5. Intellectual Property

The Platform, including its design, code, branding, logos, and documentation, is owned by SBOit LLC and protected by applicable intellectual property laws. You may not copy, modify, distribute, or create derivative works from any part of the Platform without our express written consent.

6. User Content

You retain ownership of content you submit to the Platform (listing descriptions, photos uploaded by agents on your behalf, messages, etc.). By submitting content, you grant SBOit a worldwide, non-exclusive, royalty-free license to use, display, reproduce, and distribute that content solely in connection with operating and promoting the Platform.

Agent-captured photos and verification reports are owned by SBOit and licensed to the listing owner for personal use in connection with the sale of the verified item.

7. Termination

You may close your account at any time by contacting support@sboit.com. We may suspend or terminate your account for violation of these Terms, inactivity, or at our discretion with reasonable notice.

Upon termination, your right to use the Platform ceases. Any outstanding obligations (unpaid fees, pending transactions) survive termination.

8. Disclaimers

THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE." TO THE MAXIMUM EXTENT PERMITTED BY LAW, SBOIT DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

SBOit does not guarantee the accuracy of listing descriptions, agent verification reports, or the condition of any item. We are a marketplace platform and are not a party to transactions between buyers and sellers.

9. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, SBOIT'S TOTAL LIABILITY TO YOU FOR ALL CLAIMS ARISING FROM OR RELATED TO THE PLATFORM SHALL NOT EXCEED THE GREATER OF (A) THE FEES YOU PAID TO SBOIT IN THE TWELVE MONTHS PRECEDING THE CLAIM, OR (B) ONE HUNDRED DOLLARS ($100).

IN NO EVENT SHALL SBOIT BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING LOSS OF PROFITS, DATA, OR GOODWILL.

10. Indemnification

You agree to indemnify, defend, and hold harmless SBOit, its officers, directors, employees, and agents from any claims, damages, losses, and expenses (including reasonable attorney fees) arising from your use of the Platform, your content, your transactions, or your violation of these Terms.

11. Governing Law and Dispute Resolution

These Terms are governed by the laws of the State of Florida, United States, without regard to conflict of laws principles.

Any dispute arising from these Terms or your use of the Platform shall first be submitted to good-faith mediation. If mediation fails, disputes shall be resolved by binding arbitration administered under the rules of the American Arbitration Association. You agree to waive any right to participate in class actions.

Notwithstanding the above, either party may seek injunctive relief in any court of competent jurisdiction.

12. Changes to These Terms

We may update these Terms from time to time. The "Last updated" date at the top reflects the most recent revision. Material changes will be communicated via email to registered users. We encourage you to review these Terms periodically.

13. Contact

For questions about these Terms, contact us at:

SBOit LLC
Email: support@sboit.com
Web: sboit.com/contact