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Saffronart | Evening Sale
year from the date of the auction of such property, in
the manner detailed below:
(i)
For properties characterised as “art work”,
We
guarantee only the authorshipwith reference to the
name of the artist till such time that the property is
in
Our
possession.
We
do not guarantee any other
attribute of such property; and
(ii) For properties characterised as “precious
objects (other than artworks)”,
We
guarantee
characteristics or features mentioned in all capital
letters in the heading of the “Description of the
Property” in the
Auction Catalogue
(in the
case of the
MobileApp Auction Catalogue
, the
characteristics or features mentioned in all capital
letters may be displayed in a position other than
the heading) till such time that the property is in
Our
possession.
We
do not guarantee any other
attribute of such property. Further, all coloured
stones, unless certified, may or may not be treated
for enhancements.
6.2 In the unlikely event that within one year from the sale
of the property through auction, it is proved by the
winning bidder, to
Our
reasonable satisfaction, that
the property was not authentic and if, in
Our
opinion,
bidders being aware of such error or omission would
have bid significantly less than the actual
Sale Price
,
We
shall be entitled to rescind the sale, and the seller will be
liable to refund to the winning bidder the
Sale Price
paid for the property.
6.3 The guarantee above shall be subject to the following
conditions:
(i)
the claim ismadeby thewinningbidder as registered
with
Us
(the benefit of the claim is not assignable to
any subsequent owners or others who may acquire
or have an interest in any of the properties);
(ii) the property is returned to
Us
in the same
condition that it was in at the time of delivery of
the property to the winning bidder; and
(iii) the property is indisputably the same as purchased
through the auction;
Once
We
obtain the refunded amount from the seller,
We
shall forward the same along with the amount
charged by
Us
as the
Buyer’s Premium
to the winning
bidder.
We
shall not be accountable to the winning
bidder for any taxes, shipping, handling or any other
charges that may have been applicable at any time from
the sale of the artwork till the claim.
6.4 All such claims will be handled on a case-by-case basis,
and in the case of an authenticity claim, will require that
examinable proof, which clearly demonstrates that the
property is not authentic, is provided by an established
and acknowledged authority.
Our
decision in respect of
such claims shall be final and binding.
6.5 In all cases,
We
retain the right to consult with, at the
expense of the winning bidder, two recognised experts
in the field (such experts being mutually acceptable to
Us
and the winning bidder), to examine the property
under question before deciding to rescind the sale and
offer the refund under the guarantee set out above. The
opinion of the experts shall not be binding on
Us
.
6.6 In the event of the seller’s failure to refund the proceeds
as stated in this paragraph, the winning bidder shall
return the property to
Us
and authorise
Us
as its agent
to initiate legal proceedings against the seller. Any such
steps taken or legal proceedings instituted by
Us
against
the seller shall be to the cost of the winning bidder.
7. Privacy of Personal Information
We
will maintain the confidentiality of your personal
information as disclosed to
Us
and undertake to not
disclose such information to any third party, unless
otherwise required by law or a governmental authority.
8. Extent of
Our
Liability
8.1
We
have an obligation to refund the
Sale Price
and
Buyer’s Premium
to the winning bidder only in the
circumstances described above (in paragraph 6).
Damages to, or losses or loss in value of any of the
artwork (excluding frames) incurred during shipping
and transit are covered as per the insurance policy
obtained by
Us
. In case the winning bidder opts out
of insurance coverage arranged for by
Us
,
We
shall not
entertain any claims for damage or loss during shipping
and transit. Subject to the authenticity guarantee above,
neither
Our
suppliers nor
Us
, nor any of
Our
employees
or agents, shall be responsible, either for the correctness
of any statements as to the authorship, origin, date, age,
attributes or genuineness of any property in the sale, or
for any mistakes in the description of the properties,
or for any faults or defects in the properties, or for
any other act or omission whatsoever.
We
offer no
guarantee or warranty other than the limited guarantee
set out in Clause 6 above.
8.2 The rescission of the sale and the refund of the total
Sale
Price
paid by the winning bidder is the sole remedy that
may be sought by a winning bidder, and such remedy is
exclusive and in lieu of any other remedy which may
otherwise be available under law.
We
shall not be liable
239
for any incidental or consequential damages incurred or
claimed.
9. Legal Notices
9.1
We
may validly serve a bidder with a legal notice, if
required, by the following means:
(i)
sending an email to the email address disclosed by
the bidder to
Us
; or
(ii) sending a courier to the address disclosed by the
bidder to
Us
.
9.2 Such legal notice shall be deemed to have been properly
served:
(i)
in the case of email transmission: on the date of
the transmission; and
(ii) in case of transmission by courier: 2 business days
after the dispatch of the notice by courier.
10. Severability
If any part of these conditions for sale is found by any court
of law to be invalid, illegal or unenforceable, that part may be
discounted and the rest of the conditions shall be enforceable
to the fullest extent permissible by law.
11. Governing Law and Jurisdiction
11.1 These conditions for sale are subject to the laws of:
(i)
India, in the event that the seller is located in India;
and
(ii) The United States of America, in the event that
the seller is located in any jurisdiction other than
in India.
Such laws shall apply to the construction of the conditions for
sale and to the effect of the provisions thereof.
11.2 All parties are subject to the exclusive jurisdiction of
courts at:
(i)
Mumbai, Maharashtra, India, in the event that the
seller is located in India; and
(ii) New York, USA, in the event that the seller is
located in any jurisdiction other than in India.
12. Symbols used in this catalogue
Lots
marked with indicate that Saffronart owns the
lot
in whole or in part or has an economic interest in
the
lot
equivalent to an ownership interest.
Lots
marked with have been imported into India,
and in order to remove the
lots
from a Free Trade
Warehousing Zone and into Indian free circulation, a
customs duty at 10.3% will be added to the hammer
price. The applicable VAT/CST will be charged on the
amount inclusive of the hammer price and the duty.
GLOSSARY
1.
Affiliates:
Saffron Art Private Limited, Planet Saffron
Inc., Planet Saffron Management Co. LLC, and their
holding or subsidiary companies as on the date of the
online auction.
2.
Auction Catalogue
: The catalogue published by
Us
, whether in print, on the
MobileApp
or on the
Website, containing details of the auction along with
the description, price and other details of
Lots
to be
offered for sale at such auction.
In case of any discrepancy between the print
Auction
Catalogue
, the
MobileApp Auction Catalogue
, the
online
Auction Catalogue
and/or the eCatalogue, the
online
Auction Catalogue
, as modified by
Us
from
time to time, shall take precedence.
3.
Buyer’s Premium
: The amount charged by
Us
from
a winning bidder for services rendered by
Us
, in
accordance with these conditions of sale, in connection
with the purchase of products by the winning bidder.
4.
Lot
/
Lots
: An item to be offered at the auction, including
two or more items to be offered at the auction as a
group.
5.
Our
/
Us
/
We
: Saffronart Management Corporation,
acting either on its own behalf, or as a representative of
any of its Affiliates.
6.
MobileApp
: Mobile application developed by
Us
,
providing a mobile auction platform for the auction.
7.
Reserve Price
: The minimum price that a seller has
communicated to
Us
as being acceptable for the sale of
a
Lot
through an auction.
8.
Sale Price
: The price at which a property is sold to the
winning bidder, exclusive of the
Buyer’s Premium
,
applicable taxes on sale of properties and other
additional charges that may be incurred by
Us
, if any,
including shipping and handling of the property and
additional levies.
9.
Technical Downtime
: The time period during which
Our
server or website or mobile application is not in
operation due to a malfunction.