100-101 / 108
98
99
6.4 Subject to fulfilment of all these conditions for sale, the title
to the
Lots
which are
Antiquities
shall pass to the winning
bidder upon full payment by the winning bidder to
Us
, and
such winning bidder assumes full risk and responsibilities
thereafter. However, since
We
cannot deliver possession
of the Antiquity to a third person prior to transferring the
ownership along with valid registration to such third person
in accordance with the provisions of the
Antiquities Act
and the
Rules
, subject to receipt by
Us
of full payment and
of the duly signed requisite forms and documents from the
winning bidder required for the purpose of transferring the
ownership along with registration of the Antiquity to the
winning bidder,
We
shall make best endeavours to transfer/
deliver such Antiquity to the winning bidder within 90 days
from the date of the receipt of full payment, and transfer
papers from the winning bidder. The winning bidders are
herebymade aware that the process for transfer of ownership
along with registration from one person to the other in
accordance with the provisions of the
Antiquities Act
and
the
Rules
is a process administered by the Archaeological
Survey of India and may take longer than the envisaged
period of 90 days.
We
will not be responsible for any delays
involved in transfer/delivery of ownership along with
registration of any Antiquity. In the event that the registering
officer or any other employee of the Archaeological Survey
of India empowered to execute the transfer of ownership
along with registration of an Antiquity insists on sending
the duly transferred registration certificate directly to the
winning bidder,
We
will not be responsible for any damage
or loss in transit of the said registration certificate. Winning
bidders are advised to read and abide by the provisions of the
Antiquities Act
and the
Rules
and all notifications issued
thereunder from time to time, which are available with the
Archaeological Survey of India and also at the website of the
Archaeological Survey of India
(www.asi.nic.in).
6.5 In respect of each sale at the auction,
We
shall charge a
Buyer’s
Premium
calculated at the rate of (i) 20% of the winning
bid value of up to and including USD 1,000,000 (ii) 15% of
the winning bid value in excess of USD 1,000,000 up to and
including USD 1,600,000 and (iii) 12% of the winning bid value
in excess of USD1,600,000. Service tax applicable on the
Buyer’s
Premium
shall be payable by the winning bidder.
6.6 The winning bidder shall be invoiced based on details
provided at the time of registering for the auction. Winning
bidders located in India will be invoiced in INR and all other
winning bidders will be invoiced in USD. Payments must be
made in the currency on the invoice in any of the following
modes of payment.
For INR payments
1. Cheque/Demand Draft
2. RTGS/NEFT
3. Credit card: up to INR equivalent of USD 5,000
For USD payments
1. Cheque
2. Direct wire transfer
3. Credit card: up to USD 5,000
NOTE: Payments in excess of USD 5,000, or its INR
equivalent, must be made through a wire transfer or
cheque.
We
and
Our
affiliates will not be held responsible
for any refusal or failure to accept modes of payment not
outlined above.
6.7 The winning bidder shall pay the sale price and Buyer's
Premium in full (including the applicable taxes, such as
VAT and/or service tax, and other charges, if any) within 7
(seven) business days from the date of invoice. Subject to
paragraph 6.4 above, no shipment or delivery of the
Lot
will
be made to the winning bidder if the sale price and Buyer's
Premium (including the applicable taxes and other service
charges, if any) are not received by
Us
and until all proper
documentation in connection with the sale of the
Lot
has been completed, and until the ownership along with
registration of the
Lot
has not been transferred from
Us
to
the winning bidder (in case of
Lots
which are
Antiquities
,
such transfer being in accordance with the provisions of
the
Antiquities Act
and the
Rules
). Payments will not be
accepted from any parties other than the winning bidder
as recorded on the invoice.
6.8 The winning bidder acknowledges that
We
will abide by
any export restrictions that may apply in the countries
from where specific
Lots
will be shipped. The winning
bidder shall also be responsible to ensure that the
Lot(s)
are freely importable into his/her country or to the
country where the destination for delivery (as specified
by the winning bidder) is located. If the winning bidder
or
We
become aware of any restrictions to such import
subsequent to the completion of the auction, the winning
bidder shall provide an alternate delivery destination
to
Us
. All costs associated with the process of delivery
and storage (when required) of the
Lot
shall be borne
by the winning bidder. The
Lot(s)
shall be handed over
to the winning bidder or his/her nominee only upon full
payment of all such costs.
6.9
Lots
marked as "Art Treasures" and/or "
Antiquities
"
under the
Antiquities Act
and
Rules
cannot be exported
outside India, notwithstanding that the payment in lieu of
such
Lots
may be received from the winning bidder in USD.
If you are the successful bidder for any such
Lot
, you agree
not to export such
Lot
outside of India. Each winning
bidder is solely responsible for meeting the requirements
of the
Antiquities Act
and
Rules
, or any related state
legislation. Please note that the
Lots
are marked for your
convenience only, and
We
do not accept any liability for
errors or for failing to mark the
Lots
.
6.10 Non payment: In case payments are not received within
7 business days of each invoice,
We
shall treat the same
as a breach of contract of sale by the winning bidder, and
the seller may, in such an event, authorise
Us
to take any
steps (including the institution of legal proceedings), as
it may deem to be appropriate to enforce payment by
the winning bidder. In addition, the winning bidder will
be charged demurrage at 1% of the total value (winning
bid plus
Buyer’s Premium
) or INR 10,000 per month,
whichever is higher, till the date of actual payment.
5.9
Technical Downtime
: In the unlikely event that the
Website
or
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.
We
shall not be liable for
any loss of information due to the
Technical Downtime
.
The data logs of
Our
server will determine the duration of
the
Technical Downtime
and any determination made by
Us
in respect of extension of the closing time shall be final.
5.10 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 bid being received by
Us
. Therefore,
although a bidder may have placed his/her bid prior
to the closing time, the bid may be received by
Us
after
the closing time for the
Lot
in respect of which the bid
has been placed and shall, in such an event, be rejected.
In order to prevent bids being rejected in such a manner,
bidders may set proxy bids/automatic bids on
Lots
which
the bidder wishes to bid for.
5.11 Proxy bids may be recorded with
Us
12 hours prior to
the closing time, subject to the other provisions of these
conditions for sale, including any limits imposed by
Us
on
the number of bids that a bidder may place. Proxy Bids are
accepted from bidders once they have been given bidding
access for the auction and may be entered prior to auction
start and up until the auction closes.
Once a bid is registered in
Our
system, whether placed
by an active bidder or by proxy, it is immediately and
automatically displayed for all registered users to see.
5.12 Bidders are advised to keep their login ID and password
secure at all times.
We
will hold the bidder responsible for
all bids placed using their login ID and password, whether
via the
Website
or through the
MobileApp
. Bidders
choosing to bid via telephone are advised to re‒set their
passwords at the close of the auction.
5.13
Our
employees may not bid in the auction once the auction
has started. They may, however, submit an absentee/proxy
bid for an amount which may be equal to or above the
lower estimate of a
Lot
before the auction commences.
Once the auction has started, they may not increase their
bid or alter it in any way.
Our
employees may also bid in
charity auctions that are held on the
Auction Platform
.
5.14
Our
auction platform does not allow any bids to be placed
by
Us
on behalf of a seller. All bids recorded are from
registered bidders.
5.15
We
have the right to exercise reasonable discretion in
setting bid increments, refusing any bid, advancing the
bidding, withdrawing or dividing any
Lot
, combining any
two or more
Lots
, and in the case of error or dispute,
during or after the sale, determining the successful bidder,
continuing the bidding, cancelling the sale or reoffering and
reselling the item in dispute. If any dispute arises after the
sale, then, in the absence of any evidence to the contrary,
the sale record maintained by
Us
will be conclusive.
5.16
We
reserve the right not to award the winning bid to the
bidder with the highest bid at the closing date if
We
deem
it necessary to do so.
5.17
We
shall retain the right to display the results of the sale
and
Lot
details sold by
Us
, including catalogue descriptions
and prices on the
Website
at all times, including after the
completion of the sale.
We
regret that
We
cannot agree to
requests to remove these details from the
Website
.
5.18 At
Our
discretion, proxy bids submitted on "no reserve"
Lots
will be executed at a minimum of 10% of the lower
estimate of the relevant
Lot
if there is no competing bid,
and provided that the proxy bid amount is greater than
such minimum value. Notwithstanding the above, in the
event that there is a bid lower than such minimum value
and there is no competing higher bid, then
We
may, at
Our
discretion, execute the
Lot
at such lower value.
5.19
We
shall retain the right to display the results of the sale
and
Lot
details sold by
Us
, including catalogue descriptions
and prices on the
Website
at all times, including after the
completion of the sale.
We
regret that
We
cannot agree to
requests to remove these details from the
Website
.
6. Completing the Purchase
6.1
We
will raise invoices on the winning bidder for the sale
price and
Buyer’s Premium
, applicable taxes on sale of the
Lots
and other additional charges that may be incurred by
Us
, if any, including shipping and handling of the
Lots
and
additional levies.
6.2 The title to all
Lots
shall pass from the seller to
Us
outside
the territory of the United States of America.
The title to the
Lots
purchased shall pass to the winning
bidder at the time that bidding is closed for each
Lot
and
such winning bidder shall thereafter assume full risk and
responsibility for such
Lot
. In any event, the
Lots
purchased
will not be released or shipped out to the winning bidder
or his/her representative until the winning bidder has
fulfilled his payment and other obligations as described in
these conditions for sale.
6.3 For
Lots
which are not
Antiquities
, the title to the
Lots
purchased shall pass to the winning bidder at the time
that bidding is closed for each
Lot
and such winning
bidder shall thereafter assume full risk and responsibility
for such
Lot(s)
. In any event,
Lots
purchased will not be
released or shipped out to the winning bidder or his/her
representative until the winning bidder has fulfilled his/
her payment and other obligations as described in these
conditions for sale.