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(i) Deliveries in India for lots originating in India
Any sale of lots originating from India to an
address in India is subject to a GST at applicable
rates on the winning bid value. The final charges
will be determined at the close of the auction
and will be sent by email to the winning bidder.
(ii) International shipments for lots originating in
India
For lots originating from India, there may be
duties and taxes levied depending on the
delivery destination which typically will be on
the total of the winning bid and shipping and
handling values. Depending on the shipping
address, these duties and taxes vary according
to customs regulations in the destination
country. Any shipments to EU countries will be
charged an additional VAT as applicable. Please
contact Saffronart for further details.
For imports, the terms of sale are Delivered Duty
Unpaid (DDU). It is the Buyer’s responsibility to
pay all international duties, customs charges,
taxes and tariffs to the respective authorities.
Normally, the couriers we contract will pay
import duties on behalf of the buyer and get
reimbursed at the time of delivery.
(iii) Shipments and Deliveries for Lots originating
outside India (lots marked with the symbol )
These lots have been imported into India,
and in order to remove the lots from a Free
Trade Warehousing Zone and into Indian free
circulation for deliveries within India, a customs
duty at 10.3% will be added to the hammer price.
The applicable GST as mentioned above will be
charged on the amount inclusive of the hammer
price and the duty.
In the event that the lot is to be shipped
internationally,
additional
charges
for
international shipments mentioned in the above
section shall apply.
Please Note: Lots may require permits for import
or be subject to import restrictions to certain
countries. Potential buyers are advised to
check import regulations prior to making a bid
decision.
How do I make payment?
Buyers will be required to complete payment within
a period of 7 business days from the receipt of the
invoice via email. If you have not received your
invoice within 48 hours of the close of the sale,
please contact us.
For Buyers in India
Payment can be made in INR only by the
following acceptable modes of payment:
(i) Cheque/Demand Draft: To be made in favour of
Saffron Art Private Limited
(ii) RTGS/NEFT: Details will be included with the
invoice and available upon request
(iii) Credit card: up to INR equivalent of USD 5,000
For Buyers outside India
Payment can be made in USD only by the
following acceptable modes of payment:
(i) Cheque: To be made in favour of Saffron Art
Private Limited
(ii) Direct wire transfer: Details will be included with
the invoice and available upon request
(iii) Credit card: up to USD 5,000
(iv) Payment from an NRE account: The invoice will
be raised in USD based on the winning bid value,
and the buyer will have to transfer an equivalent
INR amount at the bank exchange rate
When will my purchases be delivered/can I collect
my purchases?
Purchases shipped out within 10 - 15 business
days of the payment being cleared and are insured
under the terms of Saffronart’s insurance policy
(please note that frames are not insured). If there
is an expected delay in dispatch, the buyer will be
informed of the delay via email, unless the buyer
has indicated an alternative preferred mode of
communication.
Buyers may choose to collect their purchases from
the Saffronart office in Mumbai. In such cases,
buyers are requested to make an appointment to
collect purchases within 10 - 15 business days of
completion of all payments and documentation
(ii) Bidding Online: Bidders may view and hear
the auction on their PC or Mac with our real-
time online video feed from the auction room.
Online bidders may place a bid by clicking on
the “Bid Now” button when their lot of interest
is open for bidding. If their bid is accepted by the
auctioneer, it will be recorded.
(iii) Bidding on the Phone: Saffronart accepts
requests from bidders to place bids on the
phone with our staff depending on availability.
To avail of this service, you must be registered
as a bidder. Please note that the number of
telephone lines available for telephone bidding
may be limited and this facility is provided at
Saffronart’s discretion.
(iv) Bidding on the Mobile: Bidders may download a
software application from Saffronart onto their
eligible mobile device and use it to place bids
during the sale. To avail of this service, you must
be registered as a bidder.
(v) Absentee/Proxy Bids: Bidders may place bids prior
to the sale either online or in writing by submitting
the absentee/proxy bid form. See the Absentee/
Proxy Bid Form available at the back of the printed
catalogue, or on the website. Absentee/proxy bids
shall be accepted up to a certain time prior to the
sale which will be listed online.
What are bid increments?
Any new bid must be greater than the current
highest bid by a minimum increment. The next
valid bid amount is the current highest bid plus
the minimum increment value. The auctioneer
may vary the increments during the course of the
auction at his or her discretion. Online bids however,
are accepted only at the next valid bid based on
the minimum increment. Please refer to the bid
increments printed at the back of the catalogue (on
the reverse of the Absentee/Proxy Bid Form).
Can a bid be cancelled?
No bid may be cancelled by a bidder. Saffronart
reserves the right to cancel a bid at its discretion if it
considers it necessary to do so.
What is the currency of bidding?
In a live auction in India, the currency of bidding
is INR. However, buyers with an invoicing address
outside India are invoiced in USD at the exchange
rate fixed for the sale. Please see the exchange rate
section in our Conditions for Sale online.
What is an Opening/Start Bid?
The opening/start bid is the value at which the
auction house starts the bidding on a particular lot.
When does a lot sell?
The fall of the auctioneer’s gavel shall mark the
close of bidding on each lot. The final bid announced
by the auctioneer is considered a winning bid in the
sale, if the auctioneer announces the lot as sold.
How will I be invoiced?
If you win a bid, you will be sent an email after
the close of the auction, containing an invoice for
the winning bid plus additional charges (shipping,
handling, duties and taxes as applicable) and
the GST at applicable rates. The invoicing details
provided at the time of registration will be used to
raise the invoice and no changes will be accepted
after the sale.
You may review acceptable modes of payment
described in the section below. If you are the winning
bidder, you are legally bound to purchase the item
from Saffronart. Please note that purchases will not
be shipped out until payment has been received and
cleared.
What are additional charges?
All post-sales expenses, including packing,
insurance, shipping or handling charges, are borne
by the buyer. Shipping will be charged on courier
rates and are determined by the value, origin and
destination of the package. Local deliveries will be
charged at actuals.
You may choose to make your own arrangements for
shipping and handling. However, all documentation
requirements must be complied with. Please contact
us for further details.
What are the Duties and Taxes applicable on my
purchase?
All duties and taxes applicable shall be borne by
the buyer and will depend on the value, origin and
destination of the package.