Contractual terms
The terms you accept when you register and when you reserve a place in an estimation round. For the step-by-step explanation, see the How it works page.
Last updated: 1 October 2026
This English version is a courtesy rendering of the Spanish original and is governed by the same Spanish-law terms. Every substantive right, amount, deadline and exception is preserved; if the two versions ever differ, the Spanish version prevails. Wording marked for review by Spanish-qualified counsel covers territorial eligibility, consumer withdrawal, private-sale protections, tie-break treatment and cross-border delivery.
Lote connects private sellers with users who reserve places in market-value estimation rounds. The sale of the product is concluded between the seller and the user who completes the purchase; Lote provides the intermediation service, the reference valuation and payment handling.
You must be over 18, reside in Spain, register with accurate details and use a payment method of your own. Each account belongs to one person only.
Each round states a limited number of places and a participation price that is identical for everyone. The participation price is charged when you reserve your place and pays for the service of taking part in the round: it is not an advance on the product's price. You can reserve as many places as you like while any remain free, each with its own estimate.
The place you buy is a right to take part in the round, not a reservation of the product. The participation price is not refunded in any circumstance: not if your estimate does not win, not if the round ends without all places being taken, and not if the person holding the option to complete the purchase decides not to exercise it. If the round closes incomplete and no eligible estimate completes the purchase, the round closes without a sale and participation prices are not refunded. Amounts are only returned in the cases set out in section 8.
Estimates are made in €0.50 multiples, remain private until the round closes and cannot be changed. The winning estimate is the one with the smallest absolute difference from the reference value, whether above or below it. If one person holds several places, only their closest estimate is taken into account.
Each product's reference value is set automatically before the listing goes live. An automated market-analysis process locates and examines comparable products on its own — real sales and listings of equivalent items — and sets the reference value from them. Neither the seller nor participants take part in that calculation or can influence its outcome.
The result is encrypted and recorded with a digital fingerprint at the moment it is calculated, before the round opens and before anyone takes part. It remains stored and unalterable for as long as the round runs: nobody can view, change or remove it. When the round ends, the recorded value is revealed together with the result, so anyone can verify that the winning estimate was the closest to that value from the very start.
If all places are taken, the closest estimate receives the product with no further payment. If the round ends with places still free, the closest estimate gets the first option to complete the purchase by paying the remaining amount (free places × participation price) within 24 hours; if the option is not exercised or the payment is declined, the option passes to the next closest estimate in order. In the event of an exact tie, an open tie-break is held between the tied participants, and only between them.
The seller must ship the product with tracking within the stated period after the buyer is confirmed. The buyer provides a valid delivery address in Spain. Risks pass in accordance with the consumer rules applicable to the transaction.
When the seller marks the shipment as delivered, the buyer has 48 hours to confirm receipt or open an issue. If the buyer does neither, the transaction is deemed accepted and the seller is paid. A tracked shipment that is not marked as delivered is considered delivered 10 days after dispatch, with the same 48-hour window to raise an issue.
For listings marked “Shipping not included · hand delivery”, the buyer receives a six-digit delivery code in their account when the seller has the product ready. The buyer inspects the product at handover and, if satisfied, gives the code to the seller, who enters it on the platform. Providing the code confirms receipt and acceptance of the product and closes the transaction with no possibility of raising a later issue. If the handover is declared without a code, the buyer has 48 hours to confirm it or complain. If the buyer does not attend the handover within 7 days, the seller may report it and Lote will decide on the transaction; the price of the places is not refundable.
Taking part in a round is a digital service that begins to be performed immediately with your express consent at the time of payment; once your estimate is recorded, the right of withdrawal over the participation price is extinguished in accordance with Article 103 of Royal Legislative Decree 1/2007. Before your estimate is recorded you can cancel at no cost.
We return amounts when the round is cancelled for reasons attributable to the platform or the seller, when a charging error occurs, when the product does not match its description, or where consumer law requires it. In purchases from private sellers there is no right of withdrawal over the product, but you are protected against undelivered products or products substantially different from what was advertised.
If the product does not arrive or is not as described, you can open an issue from your account while it is on its way and up to 48 hours after delivery. While it is reviewed, the payment to the seller is held. If it is resolved in your favour, the purchase amount (completion or tie-break and shipping) is returned; the price of the places is not refundable.
In a tie-break, the amount paid goes to the seller once the payment-processing cost and the platform's 20% commission are deducted.
The seller guarantees that they own the product, that they may lawfully sell it and that its description, condition and photographs are accurate. The platform may reject or remove listings and withhold settlements where there are signs of fraud.
The following are prohibited: manipulating results, creating multiple accounts, using payment methods that are not your own, publishing illicit or counterfeit products, and any attempt to obtain the reference value before the round closes. Breach may result in the cancellation of participation and the closure of the account.
You can raise any complaint through the support channels available on the platform. We will respond within a maximum of 30 days. These terms are governed by Spanish law and the applicable consumer regulations. See also the legal notice and the privacy policy.