Silverstein Exchange – Seller Terms & Conditions

Effective Date: 9/15/2025
Last Updated: 9/15/2025

These Seller Terms govern the listing and sale of instruments on Silverstein Exchange. By listing an instrument, you agree to the following:

1. Eligibility

• Featured Artists – Only artists approved by Silverstein Exchange may list their own instruments.

• Registered Members – Any registered member who has purchased an instrument through Silverstein Exchange may relist and sell that same instrument on our platform at any time in the future.

• All instruments must be owned outright by the seller, free of liens or third-party claims.

• Instruments that are non-playable, damaged beyond reasonable repair, or otherwise unsuitable for musicianship must not be listed.

• Silverstein Exchange reserves the right, at its sole discretion, to refuse or remove any listing or proposed price for any reason.

2. Instrument Condition & Accuracy

• All instruments must be in good, playable condition at the time of listing.

• Instruments that are broken, incomplete, or not in playable condition must not be listed.

• Sellers must provide accurate descriptions and photographs, including history and condition.

• Silverstein Exchange may edit, request changes, or reject any listing that is misleading or incomplete.

3. Pricing & Fees

A. Exchange Discretion

• Silverstein Exchange retains the right to decide whether a seller’s item is listed as a “Buy Now” or as an “Auction.”

B. Buy Now Listings

• Sellers may set their own fixed asking price.

• A 10% commission applies to the final sale price.

• The listing price must include shipping cost and full insurance for delivery to the buyer.

• Shipping and insurance terms may be discussed and confirmed with Silverstein Exchange before the listing is published.

• Asking prices are subject to review and may be discussed, adjusted, or rejected at Silverstein Exchange’s sole discretion.

C. Auction Listings

• Sellers may set a reserve price (minimum acceptable sale amount).

• Commission is calculated as:

  • 10% of the reserve price, plus

  • 50% of any amount above the reserve price achieved through bidding.

• The final sale price must include shipping cost and full insurance for delivery to the buyer.

• Shipping and insurance terms may be discussed and confirmed with Silverstein Exchange before the listing is published.

• Reserve prices are subject to review and may be discussed, adjusted, or rejected at Silverstein Exchange’s sole discretion.

  Commission Example:
  If the reserve price is $5,000 and the final winning bid is $7,000:

  • 10% of reserve = $500

  • 50% of the $2,000 above reserve = $1,000

  • Total commission = $1,500

4. Payment & Payouts

• Buyer payments are processed through Silverstein Exchange.

• Seller payouts are released 15 days after buyer confirmation of delivery (or automatically after 15 days if no dispute is raised).

• Payments are issued by bank transfer to the seller’s designated account.

5. Shipping & Delivery

• Sellers are responsible for safe packaging and shipping within 5 business days of order confirmation.

• All shipments must be trackable and fully insured.

• The cost of shipping and insurance must be included in the listing price, unless otherwise discussed and confirmed with Silverstein Exchange before the listing is published.

• Silverstein Exchange offers a shipping service with competitive rates, full traceability, and protection. We strongly recommend that sellers use this service for reliability and buyer confidence.

• A shipping invoice must be included inside the package for verification and recordkeeping.

• Silverstein Exchange reserves the right to review and approve shipping arrangements to ensure buyer protection.

6. Returns & Disputes

• Buyers may request returns under the Silverstein Exchange Buyer Terms.

• If a return is approved, the seller must accept the instrument back and inspect it upon arrival to confirm whether there is any damage or change of condition after shipping.

• If damage or condition changes are found, the seller must report this to Silverstein Exchange immediately.

• To protect the seller, Silverstein Exchange will hold the buyer’s payment until the dispute is investigated and resolved.

• Disputes are mediated by Silverstein Exchange, and our decisions are final.

7. Listing Duration & Delisting

• Instruments listed as Buy Now must remain available for at least 45 days (grace period) after listing.

• Instruments sold through Auction must remain listed until the auction closing date and cannot be delisted early.

• After the grace period (Buy Now: 45 days; Auction: 10 days after auction closing), sellers may request to delist their instrument, but must inform Silverstein Exchange in advance.

8. Authenticity & Verification

• Sellers must cooperate with Silverstein Exchange to verify authenticity and provenance.

• Instruments that cannot be verified may be removed.

9. Charitable Contributions

• Sellers are encouraged to donate part of their proceeds to the Exchange Fund, which supports musicians and communities in need.

10. Termination of Listing

• Silverstein Exchange may remove any listing or suspend seller privileges at its discretion, including violations of these Terms.

Agreement & Disclaimer

By listing an instrument on Silverstein Exchange, you confirm that you have read, understood, and agree to these Seller Terms.

Disclaimer: Silverstein Exchange retains full and final authority over all listings, pricing, commissions, shipping, listing duration, and listing format (Buy Now vs. Auction). All such decisions are binding and not subject to appeal.