FROM CLASSICAL TO CONTEMPORARY (6-7 DECEMBER 2017)

168

169

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

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 by

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.

2. 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

this sale may be viewed through any of the following:

(i) Viewings – details listed in the 'Sales and Enquiries' section;

(ii) The Online

Auction Catalogue

; and

(iii) 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

Our

terms of business, or if

otherwise believe,

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

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

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

bidupdates 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 themor 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