LIVING TRADITIONS: FOLK AND TRIBAL ART (19-20 APRIL 2017)

4.3 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

Reserve Price

and will be sold to the highest bidder,

irrespective of the bid amount.

4.4

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.

4.5 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.

4.6 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.

4.7 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.

4.8 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

will not grant bidding access if the

bidder registration and KYC procedures are not complete.

5. Bidding

5.1 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.

5.2 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 5.4 below) for

updates on latest bids and time extensions, if any.

5.3 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.

5.4 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.

5.5 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 5.2 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

5.6 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 5.5 above in order to view

the most updated bid history and countdown clock.

5.7 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.

do not accept any liability in the unlikely

event that a bid through the

MobileApp

is not executed

or executed incorrectly.

5.8 The foreign currency exchange rate used is constant

during the auction, and has currently been set at

1:65 (USD:INR). Prior to the start of the auction,

may

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.

CONDITIONS FOR SALE

These conditions for sale set out the terms on which

offer

the

Lots

listed in this catalogue for sale on behalf of sellers, and if

you make a successful bid, will form a contract for sale between

you and the seller.

By participating in this online auction, you acknowledge that

you are bound by these conditions for sale as listed below and

on the

Website

saffronart.com

. You will find a glossary at the

end explaining the meanings of the words and expressions

which are in

bold

1. Eligibility and Compliance

1.1

have been granted a valid licence under the

Antiquities

Act

and

Rules

for conducting the auction of

Lots

which

are

Antiquities

and for dealing in

Antiquities

as a part of

the

Lots

being auctioned.

1.2

have verified the valid registration of the

Antiquities

in the name of the relevant sellers as required under the

Antiquities Act

and the

Rules

1.3

will have no ownership interest in any

Lot

which is an

Antiquity, till the receipt of full payment by

in respect

of such Antiquity from a winning bidder in accordance

with paragraph 6.7 below. Upon receipt of full payment

from the winning bidder, the ownership of the

Antiquity along with its registration (as required under the

Antiquities Act

) will be first transferred/delivered from the

seller to

, and thereafter will be transferred/delivered by

to the winning bidder in accordance with the provisions

of these conditions for sale.

1.4 The possession of the

Lots

which are

Antiquities

has

passed from the respective sellers to

within the

territory of India in accordance with the provisions of

the

Antiquities Act

and the

Rules

, and the sellers have

intimated the Archaeological Survey of India of such

transfer of possession of the concerned Antiquity from

such seller to

Our

designated premises.

Our

role as the agent of the Seller:

2.1

undertake to sell the

Lots

through this online auction

as agents for and on behalf of sellers. Unless stated

otherwise,

have no ownership interest in any

Lot

in this

online auction.

2.2 Making a bid online constitutes an irrevocable offer to

purchase the

Lot

and the acceptance of a bid as the

winning bid by

shall result in an enforceable contract of

sale between

, acting solely as the agent of the seller, and

the winning bidder.

3. Catalogue Descriptions and Condition of

Lot

3.1

offer all

Lots

for sale at the auction on an "as is" basis,

meaning that each

Lot

is sold with all existing faults and

imperfections.

encourage all potential buyers to

inspect each item carefully before bidding.

3.2 Any statements made by

, including by

Our

representatives/employees, about any

Lot

, whether orally

or in writing, concerning attribution of such

Lot

to, for

example, any school of art or craftsmanship, country

or origin, history, provenance or condition, are only

expressions of

Our

opinion or belief. Such opinions or

beliefs have been formed honestly in accordance with the

standard of care expected of an auction house, having due

regard to the estimated value of each

Lot

have not

carried out any exhaustive research or analysis on any

Lot

to be sold in this auction, and potential buyers should seek

appropriate advice on the condition of each

Lot

from their

own professional advisors.

3.3 For the convenience of bidders,

provide condition

reports on

Lots

upon request free of charge. The report

includes

Our

bona fide opinion on the condition of the

Lot

and is not an alternative to viewing and inspecting a

Lot

by a bidder, or a bidder's duty to seek independent

advice on the

Lot

, including its description, condition and

authenticity.

3.4 The bidders undertake to:

(i) inspect and satisfy themselves prior to the auction as

to the condition and description of the

Lot

;

(ii) rely on their own judgment as to whether the

Lot

matches its description; and

(iii) not rely on an illustration of any

Lot

given in the

Auction Catalogue

3.5 Size description/s of all the

Lots

featured in the

Auction

Catalogue

are approximate.

encourage all potential

buyers to inspect each item carefully before bidding.

3.6 Neither

nor any of

Our

affiliates, agents, representatives,

employees or directors shall be liable for errors or omissions

in any of the representations made in the

Auction

Catalogue

or otherwise, with respect to the authenticity,

description or condition of any

Lot

for sale through this

auction.

4. Viewing the

Lots

and Bidder Registration

4.1 All

Lots

for sale are featured in the

Auction Catalogue

The number listed next to each image is the '

Lot

number'

and should be used as a reference during bidding, or for any

information 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

4.2

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.