The vintage watch marketplace
Grey Market — grymrkt.co · Effective Date: September 24, 2026
By accessing or using Grey Market (“we,” “us,” or “our”) at grymrkt.co, including all related services, features, and content (collectively, the “Platform”), you agree to be bound by these Terms of Service (“Terms”). If you do not agree, do not use the Platform.
These Terms constitute a legally binding agreement between you and Grey Market. Certain activities on the Platform require you to accept additional agreements at the time of that action: a Seller Listing Agreement when you list a watch for sale, a Buyer Bid Agreement when you place a bid, and the Grey Market Referral Program Terms described in Section 19 when you enroll in the referral program. Those agreements are incorporated into these Terms by reference.
We may update these Terms from time to time. Continued use of the Platform after changes are posted constitutes acceptance of the revised Terms.
The updates made to these Terms on August 25, 2026 take effect on September 24, 2026 for members whose accounts were created before August 25, 2026. They apply immediately to accounts created on or after that date, and to any member who accepts the Referral Program Terms at enrollment, whose participation is governed by that acceptance.
Notwithstanding the foregoing, Section 19 (Referral Program and Referral Credit) and the Program Terms incorporated by Section 19.1 may be amended only in accordance with Section 19.8. No amendment to Section 19, and no change to the Program Terms, takes effect by posting alone or without the notice required by Section 19.8. No amendment to these Terms applies to any claim or dispute arising out of events occurring before the amendment’s effective date.
To use the Platform, you must be at least 18 years of age, a legal resident of the United States, and capable of entering into a binding legal agreement. By registering an account, you represent that you meet these requirements.
Each individual may hold only one account. Creating multiple accounts, proxy accounts, or accounts on behalf of another person without authorization is prohibited. See Section 11 (Account Enforcement) regarding the consequences of circumventing this rule.
You may register using email and password or through third-party authentication (Google). You are responsible for maintaining the confidentiality of your login credentials and for all activity that occurs under your account.
You agree to provide accurate, current, and complete information during registration and to update it as necessary. Grey Market reserves the right to suspend or terminate accounts that contain false or outdated information.
Certain Platform features, including bidding and selling, require identity verification (“KYC”) and credit card verification. You consent to providing valid government-issued identification and payment credentials as part of this process. This verification is necessary to maintain trust and prevent fraud, proxy bidding, shill accounts, and bad actors within the community.
Grey Market may use third-party services to verify your identity and payment information. By submitting verification materials, you authorize Grey Market and its verification partners to process that information for the purposes described in these Terms and in our Privacy Policy.
You understand and agree that Grey Market retains identity-match data (such as a hashed identifier derived from your government ID, name, and date of birth) beyond the life of any individual account for the purpose of enforcing suspensions, bans, and other account-level sanctions, and for determining whether a person is new to the Platform for purposes of the referral program described in Section 19. Retention of this identity-match data is time-bounded (currently seven (7) years after the later of account closure or last account activity, except where longer retention is required by law or by an active fraud investigation). The full retention schedule is described in Section 5 of our Privacy Policy, and this retention is a condition of using the Platform.
Grey Market is a platform that facilitates the sale and purchase of vintage, neo-vintage, and collectible watches between private collectors through curated, timed online auctions. Grey Market is not a party to transactions between buyers and sellers. We act as an intermediary providing escrow, curation, identity verification, logistical coordination, and access to an independent third-party verifier.
By listing a watch for sale, you (the “Seller”) represent and warrant that:
Grey Market manually reviews and curates every listing submission. Submission does not guarantee listing. We reserve the right to decline any submission at our sole discretion to maintain marketplace quality and prevent model oversaturation.
A Grey Market concierge will draft listing content based on your submission. You must review and approve the listing before it goes live. Your approval is your confirmation that the listing content is accurate and complete.
Failure to meet the seller obligations above may result in strikes, account suspension, or permanent ban, as described in Section 11. Additional seller obligations are set out in the Seller Listing Agreement you accept when creating a listing.
By placing a bid, you (the “Buyer”) are making a binding commitment to purchase the watch at your bid price if you are the winning bidder. Grey Market does not charge or place holds on your payment method at the time a bid is placed; instead, all bidders must maintain a valid, verified payment method on file. Every bid authorizes Grey Market (directly or through its payment processor) to charge that payment method when the auction closes with you as the winning bidder, for the bid amount plus the applicable buyer premium, applicable taxes, and shipping.
You further authorize Grey Market to charge the payment method on file for the value of any Referral Credit recovered under Section 19.5, after at least ten (10) days’ written notice to the email address on your account and an opportunity to dispute the recovery under Section 11.5.
Retracting a bid is not permitted except in limited circumstances determined by Grey Market in its sole discretion (for example, an obvious typographical error reported before the auction closes).
All bidders must be identity-verified and credit card-verified members. Additional buyer obligations are set out in the Buyer Bid Agreement you accept when placing your first bid.
Auctions run for seven (7) days. Any bid placed in the final 2 minutes of an auction will extend the auction clock by 2 minutes (the “anti-snipe” window). Grey Market reserves the right to cancel, extend, or modify auctions if irregularities are detected, including suspected shill bidding, technical errors, or breaches of these Terms.
Every sale on the Platform is subject to physical inspection by an independent third-party verifier selected by Grey Market (the “Verifier”). After an auction closes and escrow is funded, the Seller ships the watch to the Verifier. The Verifier inspects the watch for authenticity and compares it against the listing description and photographs, then forwards it to the Buyer if it passes.
The Verifier’s determination on authenticity and material condition is final for purposes of transaction completion. By using the Platform, you agree that:
The Verifier is an independent contractor, not an agent of the Buyer or Seller. Grey Market makes no warranty regarding the Verifier’s determinations, but reasonable steps are taken to engage qualified verifiers.
All transactions are processed through Grey Market’s escrow service. Placing a bid does not charge or hold funds on your payment method. When the auction closes with you as the winning bidder, Grey Market charges your verified payment method on file for the hammer price plus the buyer premium, applicable taxes, and shipping, and the funds are held in escrow until released to the Seller per Section 6.5. Payments made by ACH bank transfer are held in escrow upon clearing, which typically takes three (3) to five (5) business days.
If the winning bidder’s payment method cannot be charged at auction close (for example, insufficient funds, expired card, or issuer decline), Grey Market will notify the bidder and give them forty-eight (48) hours from auction close to provide a valid payment method and complete the purchase. If the bidder does not cure within that period, Grey Market may, at its discretion, cancel the sale, relist the watch, and/or offer the watch to the next-highest bidder at that bidder’s bid price, and the original winner receives a non-payment strike per Section 11.
Grey Market’s fees for completed transactions are as follows:
The Buyer premium is allocated to cover (i) the third-party Verifier’s inspection fee, (ii) fraud screening, insurance surcharges, and chargeback-reserve contributions, and (iii) Grey Market’s operating costs of coordinating the transaction on the Buyer’s behalf. The payment processing fee covers payment-processing and card-network costs. Each fee is disclosed as a percentage before each bid is placed. Shipping fees are allocated as follows:
Fees are non-refundable once a transaction has been completed. If a transaction is canceled because the watch fails Verifier inspection, the Buyer is refunded in full for all fees and shipping paid, Grey Market absorbs the Verifier fee, and Grey Market pays for the return shipment from the Verifier to the Seller.
Promotional pricing periods may temporarily reduce the Seller listing fee and Buyer premium below the rates stated above. The rates that apply to a specific auction are those displayed at the time of listing creation and are recorded against the auction; rates are not changed retroactively if a promotional period later ends.
The Verifier physically inspects the watch and confirms authenticity and material condition beforeit ships to the Buyer. Because pre-delivery authentication has already occurred, the Buyer’s post-delivery inspection rights are narrowly limited to issues arising on the final leg of shipment from the Verifier to the Buyer. The Buyer has forty-eight (48) hours from confirmed delivery (the “Inspection Window”) to notify Grey Market of:
Police report requirement for confirmed-delivery-not-received claims. If the basis for your claim is that the courier marked the shipment delivered but you did not receive it (for example, suspected theft from the delivery location), you must, within the 48-hour Inspection Window, file a police report with the appropriate local law enforcement agency and provide Grey Market with a copy of the police report (or the report number and filing agency) as part of your claim submission. Claims in this category that are not supported by a timely police report will not be eligible for remedy under Section 6.6, except where filing such a report is impossible for reasons outside your control and you promptly disclose those reasons in writing to Grey Market.
The Inspection Window does not provide a remedy for buyer’s remorse, change of mind, market-value changes between auction close and delivery, or condition, authenticity, or description disputes that were within the scope of the Verifier’s inspection and that the Verifier resolved. Claims not submitted within the Inspection Window are waived, except to the extent such waiver is prohibited by applicable law.
Seller proceeds (hammer price minus only Seller-side shipping) are released to the Seller’s payout account after the Verifier confirms the watch has passed inspection, typically within one (1) business day of Grey Market’s receipt of the Verifier’s pass determination. This release occurs beforethe Buyer receives the watch. This model mirrors the fund-release pattern used by other major authentication-gated marketplaces for high-value goods. Payout timing thereafter depends on the Seller’s payment processor and banking institution.
Because proceeds are released upon the Verifier’s pass determination, Buyer claims submitted within the Inspection Window in Section 6.4 do not automatically pause or reverse Seller payout. Valid Inspection-Window claims are remedied directly by Grey Market under Section 6.6. Grey Market reserves the right to claw back released Seller proceeds (in whole or in part) only in the following enumerated cases (each, a “Clawback Event”):
Clawback rights under this Section are limited to the released Seller proceeds plus any direct costs Grey Market incurs in connection with the Clawback Event (including return shipping, Verifier re-inspection, and reasonable investigation costs). Grey Market will provide written notice of a Clawback Event and a reasonable opportunity for the Seller to respond before executing a clawback, except where delay would prejudice Grey Market’s ability to recover or a legal order requires immediate action.
If the Buyer submits a valid Inspection-Window claim under Section 6.4 (for example, verified transit damage on the Verifier-to-Buyer leg), Grey Market will resolve the claim at Grey Market’s cost. At Grey Market’s election, remedies include refund of amounts paid by the Buyer, arrangement and payment of return shipment and re-inspection, repair, or replacement if available. Grey Market absorbs the return logistics and the cost of re-inspection.
Because the Verifier has already confirmed authenticity and material condition before shipment, a Buyer-initiated return or dispute on grounds already resolved by the Verifier is considered a frivolous claim. Frivolous claims result in a strike against the Buyer under Section 11.1; repeated or bad-faith frivolous claims are a severe offense under Section 11.2 and may result in immediate permanent ban.
All watches sold through the Platform must be shipped using Grey Market’s designated insured and tracked courier program. Sellers are responsible for packaging the watch securely in accordance with Grey Market’s packaging guidelines. Sellers must not ship directly to Buyers; all shipments first go to the Verifier.
Shipments are fully insured during transit. Loss or damage claims during transit will be handled through the courier’s and Grey Market’s insurance processes; Grey Market will facilitate these claims but is not itself the insurer.
Grey Market is not liable for delays caused by carriers, customs, or other third parties outside our control. Sellers must ship to the Verifier within two (2) business days of escrow funding; repeated late shipments may result in strikes per Section 11. If the Seller has not shipped the watch within seven (7) calendar days of escrow funding, Grey Market may cancel the transaction, refund the Buyer in full, and apply a strike to the Seller per Section 11. Grey Market will send the Seller at least one reminder before exercising this cancellation right.
Grey Market offers a watch identification feature (“Identify”) that uses image analysis to provide information about a watch’s authenticity, originality, condition, and collector-relevant traits. This feature is currently in beta.
The Identify service is provided for informational purposes only and does not constitute a professional appraisal, authentication certificate, or guarantee of value. It does not replace the independent Verifier inspection described in Section 5.4. Grey Market makes no warranties regarding the accuracy or completeness of Identify results. You should not rely solely on the Identify service when making purchasing decisions.
If you joined the Grey Market waitlist before sign-ups opened, you expressed interest in early access to the Platform. Waitlist position does not guarantee access, and any promotional benefits described (such as fee waivers or founding member recognition) remain subject to change at our discretion. New visitors should create an account to access the Platform.
You agree not to engage in any of the following. Each item is tagged with its default severity classification under Section 11 (“Severe” = immediate permanent ban; “Minor” = strike under the two-strike system). Grey Market may, in its reasonable discretion, elevate a Minor offense to Severe based on pattern, scale, intent, or impact.
Grey Market operates a high-trust marketplace for high-value goods. We maintain a low tolerance for fraud, misrepresentation, and conduct that undermines marketplace integrity. Violations are addressed through the following tiered system.
Minor offenses result in a strike. Two (2) strikes within a rolling 12-month period result in permanent ban from the Platform. Minor offenses include, without limitation:
Severe offenses result in immediate permanent ban, with no prior strike required. Severe offenses include, without limitation:
Suspensions and bans imposed under these Terms attach to the individual person behind the account, not merely to the account’s email address or login credentials. Grey Market uses the identity information collected during KYC (including hashed or tokenized derivations of your government-issued ID, legal name, and date of birth) to match accounts to individuals across registrations. Grey Market also uses this identity information to determine whether a person is new to the Platform for purposes of the referral program in Section 19.
If Grey Market determines, in its reasonable discretion, that a banned or suspended individual has created, re-registered, or is operating a new account (directly or indirectly, including through a proxy), Grey Market reserves the right to suspend or terminate the new account at any time, with or without prior notice, and without requiring any independent violation on the new account. Attempting to circumvent a ban is itself a severe offense under Section 11.2.
Identity-match data used for this enforcement is retained for seven (7) years after the later of (i) account closure or (ii) last account activity, except where longer retention is required by law or by an active fraud investigation. Retention of this data, and your rights with respect to it, are described in Section 5 of our Privacy Policy.
In addition to strikes, suspensions, and bans, Grey Market may at its discretion withhold payouts, reverse transactions, cancel pending auctions, pursue collection of non-payment fees, recover the value of Referral Credit reversed under Section 19.5 (whether or not the reversal arises from a violation of these Terms), report confirmed fraud to law enforcement and industry databases, and recover costs (including reasonable attorneys’ fees) arising from a user’s violation of these Terms.
A user may appeal a strike or ban by contacting Grey Market in writing at the email in Section 20 within fourteen (14) days of notice. Grey Market will review the appeal in good faith, but all final determinations are at Grey Market’s sole discretion. Appeals do not pause or suspend the effect of a ban.
A user may also appeal a decision to withhold, reverse, recover, or forfeit Referral Credit under Section 19 by the same process and within the same fourteen (14) day period, measured from the date Grey Market notifies the user of the decision. Referral Credit that is the subject of a timely appeal is held rather than cancelled, and its expiration date is tolled, until the appeal is decided.
All content on the Platform, including text, graphics, logos, software, and design elements, is owned by Grey Market or its licensors and is protected by copyright, trademark, and other intellectual property laws.
User-submitted content (photographs, descriptions, comments) remains the property of the submitting user. By submitting content to the Platform, you grant Grey Market a non-exclusive, worldwide, royalty-free, sublicensable (solely to Grey Market’s service providers acting on its behalf) license to use, display, reproduce, modify, and distribute that content for the specific purposes set out below.
The license described above extends to the following categorized purposes:
This license survives the termination or deletion of your account and the removal of any listings, unless you explicitly submit a request to have your data and associated content removed from our systems. Removal requests for user content are honored subject to operational requirements and, where applicable, legal retention obligations.
In the event of a dispute between a Buyer and Seller regarding a transaction, Grey Market may, at its sole discretion, mediate the dispute. Our determination in such cases is final and binding as between those parties for purposes of transaction resolution on the Platform.
For disputes between you and Grey Market, you agree to first attempt to resolve the matter informally by contacting us at the email address listed below. If informal resolution fails within thirty (30) days, any dispute, claim, or controversy arising out of or relating to these Terms or your use of the Platform shall be resolved through final and binding arbitration administered by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules, conducted in the State of California, and presided over by a single arbitrator. Judgment on the arbitral award may be entered in any court of competent jurisdiction.
Arbitration opt-out. You may opt out of this arbitration agreement by sending written notice, within thirty (30) days of first accepting these Terms (or within thirty (30) days of a material change to this Section that is adverse to you), to arbitration-opt-out@grymrkt.co. Your opt-out notice must include your full name, the email associated with your account, and a clear statement that you opt out of the arbitration agreement. A valid and timely opt-out means disputes between you and Grey Market will not be resolved through arbitration; all other provisions of these Terms (including the class action waiver and jury trial waiver, to the extent severable) remain in effect.
Small claims carveout.Notwithstanding the foregoing, either party may bring an individual action in small claims court for disputes within that court’s jurisdictional limit, so long as the action is brought only in an individual (non-class, non-representative) capacity.
Class action waiver. You agree that disputes will be resolved only on an individual basis. You waive any right to participate in a class action, collective action, consolidated arbitration, or representative action against Grey Market. If the class action waiver in this paragraph is found unenforceable with respect to a particular claim, only that class action waiver shall be severed as to that claim, and the class claim shall proceed in a court of competent jurisdiction while all other claims (and all other provisions of this Section 13, including the agreement to arbitrate individual claims) remain in full force and effect. The severance operates on a claim-by-claim basis and does not invalidate the arbitration provision as a whole.
Mass arbitration protocol.If twenty-five (25) or more arbitration demands of a substantially similar nature are filed against Grey Market within a sixty (60) day period by the same or coordinated counsel, the following bellwether process applies: (i) counsel for the claimants and Grey Market shall meet and confer and jointly select ten (10) bellwether cases to proceed to arbitration first; (ii) all other demands in the coordinated group are stayed, with applicable statutes of limitation tolled, pending the bellwether resolution; (iii) after the bellwether arbitrations conclude, Grey Market and claimants’ counsel shall meet and confer in good faith regarding global resolution of the remaining demands. This mass arbitration protocol applies in addition to, and does not supplant, the AAA Consumer Arbitration Rules.
Jury trial waiver. To the maximum extent permitted by applicable law, you and Grey Market each waive any right to a jury trial.
To the maximum extent permitted by law, and subject to the carveouts below, Grey Market and its officers, directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages arising out of or related to your use of the Platform.
Subject to the carveouts below, Grey Market’s aggregate liability for any claim arising from your use of the Platform shall not exceed the greatest of: (a) the total amounts you paid to Grey Market in the 12 months preceding the claim; (b) the aggregate transaction value of the specific Platform transaction(s) giving rise to the claim; or (c) five hundred U.S. dollars ($500 USD).
Carveouts.The exclusions and limitations in the two preceding paragraphs do not apply to, and nothing in these Terms limits or waives, liability for: (i) gross negligence or willful misconduct; (ii) fraud or fraudulent misrepresentation; (iii) infringement of intellectual property rights; (iv) a party’s indemnification obligations under these Terms; (v) a data security breach caused by Grey Market’s failure to maintain reasonable security practices; (vi) bodily injury or death; (vii) violations of applicable consumer protection, privacy, or biometric information laws that cannot be limited by contract; or (viii) any other liability that cannot be limited or excluded under applicable law. Consumers in certain jurisdictions (including California) may have additional non-waivable rights; nothing in this Section affects those rights.
Grey Market does not guarantee the authenticity, condition, or value of any watch listed on the Platform. While we curate listings and engage an independent Verifier, ultimate responsibility for the accuracy of a listing rests with the Seller.
You agree to indemnify, defend, and hold harmless Grey Market and its affiliates from any claims, damages, losses, or expenses (including reasonable attorneys’ fees) arising from your use of the Platform, your violation of these Terms, or your violation of any third party’s rights.
Grey Market may suspend or terminate your account at any time, with or without cause, and with or without notice, including as described in Section 11. Upon termination, your right to use the Platform ceases immediately. Obligations that by their nature should survive termination (including identity-based enforcement, indemnification, limitation of liability, and dispute resolution) will survive.
If you have pending transactions at the time of termination, Grey Market will make reasonable efforts to facilitate their completion or unwinding.
The Platform is provided on an “as is” and “as available” basis. Grey Market disclaims all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, and non-infringement.
We do not warrant that the Platform will be uninterrupted, error-free, or secure, or that any defects will be corrected.
These Terms are governed by the laws of the State of California, without regard to conflict of law principles.
Grey Market may offer a referral program (the “Program”) through which a member who has completed the identity and payment verification described in Section 4 (a “verified member”) may invite individuals who have never held a Grey Market account to join the Platform. Participation is voluntary and requires your separate affirmative consent at the time you enroll. You may withdraw from the Program at any time from your account settings; withdrawal does not affect Referral Credit already issued to you.
The reward amounts, the events that trigger each reward, the qualifying bid amount, and all applicable limits are set out in the Grey Market Referral Program Terms at grymrkt.co/referral-terms (the “Program Terms”), which you accept separately when you enroll and which are incorporated into these Terms by reference. The Program Terms in effect when a referral is initiated govern that referral. Grey Market will not change the Program Terms except in accordance with Section 19.8. As of the Effective Date of these Terms the rewards are:
Grey Market does not share a referred member’s identity or activity with the referring member. When a referral generates Referral Reward Credit, the referring member is told only that Referral Reward Credit has been issued and in what amount, without identifying the referred member or the event that triggered it.
Any notice Grey Market gives you under this Section 19 is given by email to the address on your account and, where available, by notice in the Platform, and takes effect when sent.
Amounts issued under the Program to a referring member are “Referral Reward Credit.” Amounts issued under the Program to a referred member on joining are a “New Member Fee Discount,” which is a reduction in the Grey Market fees that member owes and is not a reward, bonus, or payment. “Referral Credit” means both, except where a provision applies to only one by its terms.
Referral Credit is distributed by Grey Market to a member pursuant to an awards, loyalty, or promotional program, without any money or other thing of value being given in exchange for it. It is not a gift card, gift certificate, electronic gift card, store gift card, general-use prepaid card, stored value, or a deposit or account balance, and it is not issued in exchange for payment. Grey Market holds no funds and segregates no funds on your behalf in connection with Referral Credit, and Referral Credit creates no debt and no obligation to pay money. Referral Credit:
Referral Credit is not a change to the fee rates published in Section 6.3 and does not affect the rates displayed or recorded against any auction.
Sales tax, where applicable, is calculated in accordance with the rules of the jurisdiction to which your purchase is delivered, on the amounts subject to tax in that jurisdiction, and is itemized as a separate line on your invoice together with the base on which it was computed. Referral Credit is applied after sales tax is calculated and reduces the amount charged to your payment method. Referral Credit cannot be used to pay sales tax.
Eligibility. A referral qualifies only if the referred person:
Employees, officers, and individuals engaged directly by Grey Market to perform services, and members of their households, are not eligible to participate. This exclusion does not extend to employees of the Verifier or of any courier. Grey Market uses identity and payment-instrument matching to detect same-person and coordinated referrals and will withhold or deny Referral Credit where it detects them.
Attribution.A referral is attributed to the member whose referral link or code is recorded on the referred person’s account at the time that account is created. Only one member may be credited for any referred person, and Referral Credit is not divided between members. A referral link or code first used more than thirty (30) days before the referred person creates an account is not attributed. If more than one member claims the same referral, Grey Market’s record of the link or code recorded at account creation governs, and that determination may be appealed under Section 11.5. Use of a referral link by a person who already holds, or has previously held, a Grey Market account generates no Referral Credit and is not, by itself, a violation of these Terms by either person.
Limits. The following limits apply and are published in the Program Terms:
Review. Grey Market reviews referrals against the eligibility criteria in Section 19.4 and the prohibitions in Section 19.6. Grey Market may investigate any referral, including by reviewing account activity, device and network signals, payment instruments, and relationships among accounts, and may request documentation reasonably necessary to verify a referral. Grey Market may place a hold on Referral Credit that is not yet final for up to thirty (30) days from the date it notifies you in writing that a hold has been placed. If Grey Market has not reversed the Referral Credit by the end of that period, the hold lapses and the Referral Credit is released.
Finality. Referral Credit becomes final on the earliest of:
A New Member Fee Discount is final when posted.
Reversal before finality. Before Referral Credit becomes final, Grey Market may decline to issue it, or reverse it, where Grey Market reasonably believes it resulted from self-referral, duplicate or proxy accounts, a coordinated arrangement, any other abuse of the Program, your own violation of these Terms, or a technical error that Grey Market identifies and notifies to you within thirty (30) days of the grant being posted. Grey Market may also reverse Referral Credit where the transaction that triggered it is cancelled, refunded, charged back, or otherwise reversed such that Grey Market refunds the Buyer any part of the amount charged, including under Sections 5.3, 5.4, 6.2, 6.3, 6.5, 6.6, or 7, or under any other provision of these Terms.
Reversal after finality. Once Referral Credit is final, Grey Market may reverse it only where it was obtained through fraud, through your own violation of Section 19.4 or Section 19.6, or through a technical error notified to you within thirty (30) days of the grant being posted.
Conduct of the referred member.Referral Credit already issued to a referring member is not reversed on account of conduct by the referred member that is unrelated to the referral itself, including a later suspension, ban, or account closure of the referred member. Referral Credit that has not yet been issued because the triggering event has not occurred is not payable if the referred member’s account is closed, suspended, or terminated before that event occurs, and Grey Market will notify the referring member when a pending referral ceases to be capable of generating further Referral Credit.
Recovery.Where Referral Credit has already been applied to a purchase, Grey Market may recover its value by charging the payment method on file (as authorized in Section 5.2), by deducting it from Referral Credit, Seller proceeds, or other amounts Grey Market owes you, other than amounts owed to you as a refund of the purchase price of a specific transaction, or by invoicing you. Grey Market will give you at least ten (10) days’ written notice and an opportunity to respond under Section 11.5 before exercising any right under this paragraph, except where a legal order requires immediate action.
Restoration.Where a purchase to which you applied Referral Credit is cancelled, refunded in whole or in part, or otherwise unwound for any reason other than your own breach of these Terms, Grey Market will restore the Referral Credit applied to that purchase to your account within five (5) business days of the cancellation or refund. Where a purchase is refunded in part, the refunded amount is allocated between your payment method and your Referral Credit in the same proportion in which each was originally applied. Restored Referral Credit expires on the later of the original grant’s expiration date and twelve (12) months from the date of restoration.
You may share your referral link off the Platform with people you know. You may notpost your referral link, or any other member’s referral link, in your Grey Market profile, in comments, or in any other user-generated content on the Platform.
You may not distribute your referral link by mass email, by messaging people you do not know, through automated tools, by purchasing advertising against Grey Market’s name or marks, or in any manner that would violate applicable anti-spam or telemarketing law. If you share your referral link publicly, including on social media, forums, or other websites, you must clearly and conspicuously disclose that you receive Referral Reward Credit if someone signs up through it. Grey Market will provide suggested disclosure language.
Conduct prohibited by this Section 19.6 or by Section 19.4 is prohibited by Section 10 and is subject to enforcement under Section 11.
Referral Reward Credit you receive for referring another person is generally treated as taxable income to you, and Grey Market will report it where the law requires. Grey Market treats a New Member Fee Discount as a reduction in the Grey Market fees you owe rather than as income to you, and does not report it. Grey Market’s treatment reflects its own reporting position, is not tax advice, and is not binding on any tax authority. You are solely responsible for determining and satisfying your own tax obligations arising from Referral Credit.
Where required by law, Grey Market will report the value of Referral Reward Credit to the Internal Revenue Service and to applicable state tax authorities and will furnish you a corresponding statement on IRS Form 1099-MISC, Form 1099-NEC, or such other form as applicable law requires. Referral Reward Credit is reported for the calendar year in which it is redeemed. Where Referral Credit is reversed or its value recovered after it has been reported, Grey Market will furnish a corrected information return for the year of report.
Grey Market may require you to provide a completed and signed IRS Form W-9, a valid taxpayer identification number, and any other information reasonably necessary for Grey Market to meet its reporting obligations. A request under this Section is made by email to the address on your account, and any period stated in the request runs from the date Grey Market sends that email. Until Grey Market receives the requested documentation it may suspend the issuance of further Referral Reward Credit to you and may decline to issue Referral Reward Credit that would otherwise be triggered. Grey Market will not cancel Referral Credit already issued to you, will not suspend redemption of Referral Credit already issued to you, and will not require tax documentation as a condition of a New Member Fee Discount. Where backup withholding under Internal Revenue Code section 3406 would apply and cannot be satisfied, Grey Market may decline to issue Referral Reward Credit.
Grey Market may modify or discontinue the Program. Grey Market will give at least thirty (30) days’ advance notice of any change to the reward amounts, the events that trigger a reward, the qualifying bid amount, any limit, the expiration period, or the eligibility criteria, and of any discontinuation of the Program, by email to the address on your account and, where available, by notice in the Platform.
A referral is initiated when the referred person creates a Grey Market account carrying your referral link or code. Changes apply only to referrals initiated on or after the effective date of the change and do not apply retroactively. A referral initiated before the effective date of a change or discontinuation continues to be governed by the Program Terms in effect when it was initiated, through all of its reward stages, for twelve (12) months after initiation.
Referral Credit already issued to your account at the time of a change or discontinuation remains available for redemption, in accordance with its terms, for the remainder of its original twelve-month term, subject only to reversal of Referral Credit that is not yet final under Section 19.5.
No amendment to these Terms or to the Program Terms applies to any claim or dispute arising out of events occurring before the amendment’s effective date.
If Grey Market terminates your account or permanently bans you under Section 11.1 or Section 11.2, unredeemed Referral Credit is forfeited, except that (i) a New Member Fee Discount is not forfeited unless the conduct giving rise to termination relates to the referral through which it was issued, and (ii) Referral Credit that is the subject of a timely appeal under Section 11.5 is held rather than forfeited, its expiration date is tolled for the duration of the appeal, and it is restored in full if the appeal succeeds.
If Grey Market suspends your account, unredeemed Referral Credit is held and its expiration date is tolled for the duration of the suspension. If Grey Market terminates your account other than under Section 11.1 or Section 11.2, unredeemed Referral Credit is not forfeited, and Grey Market will, at your election, restore your access solely to redeem it during the remainder of its term or extend its term by ninety (90) days from the date access is restored. If you close your account voluntarily, unredeemed Referral Credit remains redeemable for thirty (30) days after closure and is forfeited thereafter. Where your account is closed as a result of your request to delete personal information, Grey Market will give you at least twenty-four (24) hours’ notice before your Referral Credit ceases to be redeemable.
The Program is offered only in the United States. Grey Market publishes on the Program page a current list of any states in which the Program, or any feature of it, is not offered, and does not present the Program to members in those states. Grey Market will not deny Referral Credit to a member on the basis of that member’s state where the Program was presented to that member as available in that state.
These Terms apply to the Program and to any dispute arising from it, including Sections 13 (Dispute Resolution), 14 (Limitation of Liability), 15 (Indemnification), 16 (Termination), 17 (Disclaimers), and 18 (Governing Law). The limitation in Section 14 does not apply to a claim for the value of Referral Credit issued to you; Grey Market’s liability for such a claim is the face value of the Referral Credit at issue. Nothing in this Section limits any right you have that cannot be limited or waived by contract.
For questions about these Terms, contact us at:
Grey Market
Email: hello@grymrkt.co
Website: grymrkt.co
These Terms of Service were last updated on August 25, 2026.