diff --git a/src/storage/version/put.js b/src/storage/version/put.js
index 978cd140..0150383c 100644
--- a/src/storage/version/put.js
+++ b/src/storage/version/put.js
@@ -295,18 +295,15 @@ export async function putObjectWithVersion(
   } catch (e) {
     const status = e.$metadata?.httpStatusCode || 500;
     if (status === 412) {
-      // Only retry if no client conditionals (internal operation) and under retry limit
-      if (!effectiveConditionals?.ifMatch) {
-        return putObjectWithVersion(
-          env,
-          daCtx,
-          update,
-          body,
-          guid,
-          clientConditionals,
-        );
+      // Retry when no client conditional (internal operation) or when the client sent
+      // If-Match: * (wildcard — asserts existence only, already verified above; a concurrent
+      // write changed the ETag, so re-fetch and retry like the no-conditional path).
+      // A specific ETag means the client explicitly requires that version, so propagate 412.
+      const shouldRetry = !effectiveConditionals?.ifMatch
+        || effectiveConditionals.ifMatch === '*';
+      if (shouldRetry) {
+        return putObjectWithVersion(env, daCtx, update, body, guid, clientConditionals);
       }
-      // Client conditional failed or max retries exceeded, return 412
       return { status: 412, metadata: { id: ID } };
     }
 
diff --git a/test/storage/version/put.test.js b/test/storage/version/put.test.js
index 4e184509..9583826c 100644
--- a/test/storage/version/put.test.js
+++ b/test/storage/version/put.test.js
@@ -231,6 +231,86 @@ describe('Version Put', () => {
     assert.strictEqual(resp.error, 'testing 123');
   });
 
+  it('putObjectWithVersion retries on ETag mismatch when If-Match: * is sent (existing document, concurrent write)', async () => {
+    let getObjectCallCount = 0;
+    const mockGetObject = async () => {
+      getObjectCallCount += 1;
+      return { status: 200, metadata: { id: 'existing-id' }, etag: `etag-${getObjectCallCount}` };
+    };
+
+    let firstWrite = true;
+    const sendCalls = [];
+    const mockIfMatchClient = {
+      async send(cmd) {
+        sendCalls.push(cmd);
+        if (firstWrite) {
+          firstWrite = false;
+          const err = { $metadata: { httpStatusCode: 412 } };
+          throw err;
+        }
+        return { $metadata: { httpStatusCode: 200 } };
+      },
+    };
+
+    const { putObjectWithVersion } = await esmock('../../../src/storage/version/put.js', {
+      '../../../src/storage/object/get.js': { default: mockGetObject },
+      '../../../src/storage/utils/version.js': {
+        ifMatch: () => mockIfMatchClient,
+        ifNoneMatch: () => mockIfMatchClient,
+      },
+    });
+
+    const resp = await putObjectWithVersion(
+      { env: true },
+      { users: [{ email: 'a@b.com' }] },
+      { org: 'org', key: 'doc.html', type: 'text/html' },
+      null,
+      null,
+      { ifMatch: '*' },
+    );
+
+    assert.equal(200, resp.status, 'Should succeed after retry');
+    assert.equal(2, getObjectCallCount, 'Should have fetched current state twice (initial + retry)');
+    assert.equal(2, sendCalls.length, 'Should have attempted R2 write twice');
+  });
+
+  it('putObjectWithVersion returns 412 without retry when client sends specific ETag and R2 rejects it', async () => {
+    const mockGetObject = async () => ({
+      status: 200,
+      metadata: { id: 'existing-id' },
+      etag: '"server-etag"',
+    });
+
+    const sendCalls = [];
+    const mockIfMatchClient = {
+      async send(cmd) {
+        sendCalls.push(cmd);
+        const err = { $metadata: { httpStatusCode: 412 } };
+        throw err;
+      },
+    };
+
+    const { putObjectWithVersion } = await esmock('../../../src/storage/version/put.js', {
+      '../../../src/storage/object/get.js': { default: mockGetObject },
+      '../../../src/storage/utils/version.js': {
+        ifMatch: () => mockIfMatchClient,
+        ifNoneMatch: () => mockIfMatchClient,
+      },
+    });
+
+    const resp = await putObjectWithVersion(
+      { env: true },
+      { users: [{ email: 'a@b.com' }] },
+      { org: 'org', key: 'doc.html', type: 'text/html' },
+      null,
+      null,
+      { ifMatch: '"client-specific-etag"' },
+    );
+
+    assert.equal(412, resp.status, 'Should propagate 412 when client sent a specific ETag');
+    assert.equal(1, sendCalls.length, 'Should not retry when client sent a specific ETag');
+  });
+
   it('Put Object With Version store content', async () => {
     // eslint-disable-next-line consistent-return
     const mockGetObject = async (e, u, h) => {