Terms and Conditions

This is a courtesy translation of the German Terms and Conditions. The German version is legally binding.

§ 1 Scope and provider

(1) These Terms and Conditions (T&C) apply to all contracts concluded between Studierenden-Kunstmarkt GmbH, Turnerstraße 5, 04103 Leipzig (hereinafter "theartwallet" or "we") and users of the platform theartwallet.com (hereinafter "user").

(2) Conflicting or deviating terms of the user are not accepted unless we have expressly agreed to their validity in writing.

(3) The platform theartwallet.com is aimed at both consumers within the meaning of § 13 BGB (German Civil Code) and entrepreneurs within the meaning of § 14 BGB. Where a distinction is made between these groups, this is expressly noted.

§ 2 Description of services

(1) theartwallet is a digital platform for managing and tracking the value of art collections. The platform offers the following functions:

• Recording and managing artworks in a digital collection
• Display of value indications based on statistical market data (Kunstfaktor, KF)
• Display of artist scores and activity tiers
• Visualisation of historical value developments
• Optional embedding of the collection as a widget on external websites (paid plans)
• Export of collection data (e.g. for insurance purposes)

(2) theartwallet is exclusively an information and management service. The platform provides no financial services, no investment advice and no binding art valuation.

(3) The specific scope of services depends on the respective plan booked (Free, Basic, Pro) as described on the website at theartwallet.com/en. We reserve the right to modify the scope of individual plans with reasonable prior notice.

§ 3 Registration and conclusion of contract

(1) Use of the platform requires registration. The user is obliged to provide truthful and complete information during registration and to keep it up to date.

(2) By submitting the registration form, the user makes an offer to conclude a usage contract. The contract is concluded upon confirmation of the registration by email from theartwallet.

(3) The user is obliged to treat their access credentials confidentially and not to make them accessible to unauthorised third parties. If misuse is suspected, theartwallet must be informed immediately.

(4) Only one user account per person is permitted.

§ 4 Subscriptions, pricing and payment

(1) Available plans

theartwallet offers the following usage models:

• Free: Free of charge, limited features (up to 20 artworks, no KF/Score)
• Basic: Free during the introductory phase, extended features
• Pro: Paid, full features including embed widget and expert consultation

The current prices and features are published on the website and are part of the contract.

(2) Payment terms

(a) Paid subscriptions are due in advance — at the beginning of the respective billing month for monthly billing, at the beginning of the contract year for annual billing.

(b) The booked plan is activated immediately after receipt of payment or successful authorisation of the chosen payment method.

(c) Accepted payment methods are shown during the order process. Payment is processed via external payment service providers.

(d) In the event of default, we reserve the right to block access to paid features until the outstanding amount has been settled.

§ 5 Term, cancellation and right of withdrawal

(1) Contract term

Paid subscriptions are concluded for the chosen term:

• Monthly subscription: Term of one month, automatically renewing
• Annual subscription: Term of twelve months, automatically renewing

(2) Cancellation periods

(a) The monthly subscription can be cancelled with a notice period of one (1) month to the end of the current billing period.

(b) The annual subscription can be cancelled with a notice period of one (1) month to the end of the current contract year.

(c) Cancellation can be made at any time via the user dashboard under "Account & Subscription" or in writing by email to hello@studierenden-kunstmarkt.de. Cancellation takes effect with a confirmation email from us.

(d) The right to extraordinary termination for good cause remains unaffected for both parties. A good cause on our side exists in particular if the user violates these T&C or uses the platform abusively.

(3) Consequences of cancellation

After expiry of the contract term, the account will be downgraded to the Free plan. Collection data remains accessible for a period of 30 days after cancellation and can be exported during this time. Afterwards, it will be deleted.

(4) Right of withdrawal for consumers

Right of withdrawal notice

Consumers have the right to withdraw from this contract within fourteen (14) days without giving any reason. The withdrawal period is fourteen days from the day of conclusion of the contract.

To exercise the right of withdrawal, you must inform us (Studierenden-Kunstmarkt GmbH, Turnerstraße 5, 04103 Leipzig, email: hello@studierenden-kunstmarkt.de) by means of a clear statement of your decision to withdraw from this contract.

Expiry of the right of withdrawal: The right of withdrawal expires prematurely if we have begun providing the service and the user has expressly agreed that we may begin providing the service before the end of the withdrawal period, and the user has at the same time confirmed their knowledge that they will lose their right of withdrawal upon full performance of the contract by us. By concluding the paid subscription and immediate activation of the plan, the user expressly gives this consent.

In the event of an effective withdrawal before expiry of the right of withdrawal, we will refund all payments made by you, less a proportionate amount for the services already provided up to the withdrawal, immediately and at the latest within fourteen days.

§ 6 Disclaimer for valuations and market data

This section is an essential part of the contract. By concluding the contract, the user confirms that they have taken note of this section.

(1) The valuations, Kunstfaktor (KF) figures, artist scores, activity tiers and value developments displayed on theartwallet (hereinafter jointly: "value indications") are statistical reference values. They are calculated on the basis of historical sales data from Studierenden-Kunstmarkt (SKM) and additional market data.

(2) The value indications expressly do not constitute:

• Investment advice within the meaning of the German Securities Trading Act (WpHG) or other financial market laws
• A binding art valuation or expert opinion
• A purchase or sale recommendation
• A guarantee for an achievable market price

(3) The user expressly acknowledges that the art market is subject to substantial fluctuations and that past performance is not a reliable basis for future developments.

(4) theartwallet is not liable for:

• Financial losses arising from purchase or sale decisions made on the basis of the displayed value indications
• Deviations between the displayed value and the actually achievable price when selling a work
• Loss of value of artworks, regardless of the displayed trends
• Errors or omissions in the underlying market data

(5) The disclaimer in para. 4 does not apply insofar as theartwallet intentionally or grossly negligently shows incorrect value indications or manipulates data. It also does not apply to damages resulting from injury to life, body or health.

(6) The disclaimer in para. 4 does not unreasonably disadvantage the user within the meaning of § 307 BGB, since the value indications merely represent supplementary statistical reference values, the decision responsibility remains with the user and the user can consult professional appraisers or art advisors at any time.

§ 7 Use of collection data — art market index

(1) The user grants theartwallet the right to use the collection data entered by them (in particular purchase prices, work data, collection structure) in anonymised and aggregated form for the following purposes:

• Calculation and updating of the Kunstfaktor (KF) and artist score
• Improvement of the statistical models for value indication
• Provision of aggregated market data within the platform
• Transfer of aggregated, non-personal market data to Studierenden-Kunstmarkt (SKM) within the framework of an existing cooperation agreement

(2) Data that would allow conclusions to be drawn about the identity of individual users or their specific collection is not shared. All data used for external purposes is fully anonymised before use.

(3) The user can object to the use of their data for the purposes mentioned in para. 1 at any time by contacting hello@studierenden-kunstmarkt.de. An objection does not affect theartwallet's right to continue using already aggregated and anonymised evaluations, provided that attributability to the objecting user is excluded.

§ 8 User obligations

(1) The user is obliged to comply with applicable law and to respect the rights of third parties when using the platform.

(2) The user is in particular not permitted to use the platform:

• for unlawful purposes
• by automated means (bots, scrapers)
• in a way that disproportionately burdens the infrastructure of theartwallet
• to inject malware or to circumvent security mechanisms

(3) The user is themselves responsible for the accuracy of the data they enter.

§ 9 Availability of the platform

(1) We strive to provide the platform with high availability. Outages due to maintenance work, force majeure or events beyond our control are excepted.

(2) We are not liable for damages caused by temporary unavailability of the platform, unless these are due to intent or gross negligence.

§ 10 General limitation of liability

(1) theartwallet is unlimitedly liable for damages resulting from injury to life, body or health, as well as for damages caused intentionally or by gross negligence.

(2) Otherwise, theartwallet's liability is limited to the typical and foreseeable contractual damage. Liability for ordinary negligence is excluded unless a fundamental contractual obligation (cardinal obligation) is violated.

(3) The limitation of liability under para. 2 does not apply insofar as mandatory statutory provisions stand in the way.

§ 11 Amendments to the T&C

(1) We reserve the right to amend these T&C with effect for the future. We will inform users of substantial changes by email at least 30 days before the changes take effect.

(2) If the user does not object to the amended T&C within 30 days of receiving the notification, the new T&C are deemed accepted. The notification will expressly point out this consequence.

(3) If the user objects in time, both parties have the right to extraordinary termination at the time the changes take effect.

§ 12 Final provisions

(1) The law of the Federal Republic of Germany applies, excluding the UN Convention on Contracts for the International Sale of Goods (CISG). For consumers, this choice of law only applies insofar as the consumer is not thereby deprived of the protection of mandatory provisions of the law of their habitual country of residence.

(2) Place of jurisdiction for all disputes with entrepreneurs is Leipzig. For consumers, the statutory place of jurisdiction applies.

(3) Should individual provisions of these T&C be or become invalid, the validity of the remaining provisions remains unaffected.

(4) These T&C apply to theartwallet.com, operated by Studierenden-Kunstmarkt GmbH, HRB 42194, Leipzig Local Court.