FINE JEWELS AND OBJETS (18-19 OCTOBER 2016)

FINE JEWELS AND OBJETS | Online Auction

requests. The

Lots

in this sale may be viewed

through any of the following:

i. Previews and Viewings – details listed in the “Sales

and Enquiries” section;

ii. The Online

Auction Catalogue

;

iii. The Printed

Auction Catalogue

; and

iv. The Mobile

Auction Catalogue

3.2

may withdraw any

Lot

before, during, or after

the online auction, if

have reasons to believe

that the authenticity of the

Lot

or the accuracy

of the description of the

Lot

is in doubt, or if

there is a breach of

Our

terms of business, or if

otherwise believe, in

Our

sole discretion, that

it would be improper to include the

Lot

in the

auction.

3.3 All

Lots

shall be sold subject to the

Reserve Price

If the winning bid is below the

Reserve Price

the

Lot

shall be considered unsold. The

Reserve

Price

on each

Lot

shall be confidential and

shall have no obligation to disclose the same to

any bidder.

Lots

sold in “Absolute Auctions” or

marked as sold with “No Reserve” are not subject

to a

Reserve Price

and will be sold to the highest

bidder, irrespective of the bid amount.

3.4

have the sole and absolute discretion to:

(i) determine the form and content of the

descriptions of

Lots

in the

Auction Catalogue

(ii) granting bidding access to a bidder, (iii)

recording, rejecting or accepting bids, and (iv)

deciding which bid constitutes the winning bid, if

any.

3.5 Online bidding access, and access to the

MobileApp

and the telephone bidding facility,

shall be given at

Our

discretion and

may set

limits on the number of bids that may be made

by a bidder and/or require payment guarantees

or deposits as a precondition to giving bidding

access to a bidder. Bidders will be informed of

their bidding limits, if any, and will not be allowed

to bid further if their bidding limit has been

exhausted.

3.6 Bid updates and time extensions, if any, shall

be updated on the

Website

. On the

Website

bidders may refresh bidding values by clicking on

the “Refresh” icon or the re-load/refresh buttons

on their browsers, to view latest bid updates and

time extensions, if any.

shall evaluate the bid

histories of specific

Lot

groups periodically to

preserve the efficacy of the auction process. This

exercise may be conducted by

internally or

through third parties solely at

Our

discretion.

3.7 All bidders are required to provide complete and

accurate invoicing details to

at the time of

registration for the auction and invoicing details

once registered will not be changed. The bidder

shall be invoiced based on details provided at the

time of registering for the auction. New bidders

are advised to register at least 48 hours prior to

the bid. Know-Your-Customer (KYC) documents

and/or financial reference letters are required for

individual and corporate clients and we will not

grant bidding access if the bidder registration and

KYC procedures are not complete.

Bidding

4.1 For the convenience of bidders, in particular

bidders who are placing bids on more than one

Lot

groups are scheduled to close at different

times during the auction.

4.2 The bidding for various

Lot

groups shall be closed

in accordance with the bid closing schedule.

However, a bid can be recorded by

in the 2

minutes prior to the closing time of the

Lot

. The

closing time for such

Lot

shall be extended to a

time that is 2 minutes after the time that the last

bid was made. In the event of extension of closing

time in accordance with this paragraph, bidding

on the

Lot

shall only end if no bid is recorded by

for a continuous period of 2 minutes. Bidders

are advised to click on the “Refresh” icon on the

Website

page being viewed by them or on the

“Refresh” button in the browser at regular intervals

(in accordance with the provisions of paragraph

4.4 below) for updates on latest bids and time

extensions, if any.

4.3 The

Website

shall also contain a “My Auction”

filtered view of the

Auction Catalogue

and the

bidder may click on this link to access information

on all bids made by the bidder in respect of various

Lots

. For ease of tracking bids, bidders are advised

to assign bidding nicknames to themselves. The

Website

shall contain the bid history for each

Lot

being the bid amounts that have been recorded

since the start of the auction till the current

highest bid; and a countdown clock indicating

the amount of time available for placing bids

before the closing time.

4.4 The bid history, current bid and countdown clock

shall be accurate at the time of downloading of

those values. However, such information shall not

reflect any changes in the bid history, current bid

and/or countdown clock that may have occurred

during the time taken for this information to reach

the bidder’s computer from

Our

server. The most

updated bid values shall be shown only when the

information on bid values is refreshed, which shall

happen either automatically, or when a bidder

clicks on the “Refresh” icon on the

Website

page, or on the “Refresh” or “Reload” button on

his/her internet browser. After the values on the

page have been refreshed, any changes in the bid

history shall not be visible to the bidder until the

values are refreshed again, whether automatically

on the

Website

, or by the bidder.

4.5 When the countdown clock counts down to zero,

in the case where the closing time in respect of

a particular

Lot

has been extended by a further

2 minutes pursuant to paragraph 4.2 above, the

countdown clock may not reflect such extension.

The bidder may wait for the values on the page to

refresh automatically on the

Website

, or click on

the “Refresh” icon on the page, or on the “Refresh”

or “Reload” button on his/her internet browser

after the countdown clock has counted down to

zero to determine whether the closing time has

been extended for that

Lot

4.6 The countdown clock combined with the current

highest bid as shown on the bid history on the

Website

shall only be an indication of the highest

bid amount at the time when the values on the

Website

were refreshed in the manner set out in

paragraph 4.5 above. Should bidders want more

frequent updates, they are advised to refresh

values as described in paragraph 4.5 above in

order to view the most updated bid history and

countdown clock.

4.7 Bidders may download the

MobileApp

onto any

mobile device that supports Android and iOS,

and use it to place advance bids. To avail of this

service, you must be registered as a bidder.

not accept any liability in the unlikely event that

a bid through the

MobileApp

is not executed or

executed incorrectly.

4.8 The foreign currency exchange rate used is

constant during the auction, and has currently

been set at 1:66 (USD:INR). Prior to the start of

the auction,

may at

Our

discretion change

the exchange rate used, based on fluctuations

in market exchange rates. The estimates for

individual

Lots

have been ‘rounded off’ for ease of

reference and may not reflect the exact exchange

rate used for bid calculations.

4.9

Technical Downtime

: In the unlikely event that

the

Website

MobileApp

is inaccessible to

bidders or partially disabled due to

Technical

Downtime

at any time during the half an hour

prior to the scheduled closing time of the

auction for any of the Lot groups, the closing

time of that

Lot

group and subsequent

Lot

groups will be extended by the duration of such

Technical Downtime

. In case the

Technical

Downtime

extends beyond the closing time

for a particular

Lot

group, the

Website

and the

MobileApp

, as the case may be, shall, after the

Technical Downtime

, show the auction for

the particular

Lot

group as closed. However, the

closing time for such

Lot

group and subsequent

Lot

groups shall be extended by the duration

of the

Technical Downtime

and appropriate

details of the extension shall be published on

the

Website

shortly after recovery from the

Technical Downtime

. Bids recorded prior to any

Technical Downtime

will be treated as valid.

shall not be liable for any loss of information

due to the

Technical Downtime

. The data logs

Our

server will determine the duration of the

Technical Downtime

and any determination

made by

in respect of extension of the closing

time shall be final.

4.10 Due to the nature of internet and/or mobile

traffic, there may be an unpredictable time-

lag between a bidder placing a bid, and that