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These conditions for sale set out the terms on which
We
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
We
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
We
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
We
will have no ownership interest in any
Lot
which is an
Antiquity
, till the receipt of full payment by
Us
in respect
of such
Antiquity
from a winning bidder in accordance
with paragraph 6.7 below. Upon receipt of full payment
by
Us
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
Us
, and thereafter will be transferred/
delivered by
Us
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
Us
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.
2. Our role as the agent of the Seller:
2.1
We
undertake to sell the
Lots
through this online auction as
agents for and on behalf of sellers. Unless stated otherwise,
We
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
Us
shall result in an enforceable contract of
sale between
Us
, acting solely as the agent of the seller, and
the winning bidder.
3. Catalogue Descriptions and Condition of Lot
3.1
We
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.
We
encourage all potential buyers to inspect
each item carefully before bidding.
Any statements made by
Us
, 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
.
We
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,
We
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.
We
encourage all potential
buyers to inspect each item carefully before bidding.
3.6 Neither
We
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:
CONDITIONS FOR SALE
(i)
Viewings – details listed in the ‘Sales and Enquiries’
section;
(ii) The Online
Auction Catalogue
; and
(iii) The Mobile
Auction Catalogue
4.2 We
may withdraw any
Lot
before, during, or after the
online auction, if
We
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
We
otherwise believe, in
Our
sole
discretion, that it would be improper to include the
Lot
in
the auction.
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
We
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.
4.4
We
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
We
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.
We
shall evaluate the
bid histories of specific
Lot
groups periodically to preserve
the efficacy of the auction process. This exercise may be
conducted by
Us
internally or through third parties solely
at
Our
discretion.
4.7 All bidders are required to provide complete and accurate
invoicing details to
Us
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
We
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
,
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
Us
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
Us
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.