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any) are not received by
Us
and until all proper
documentation in connection with the sale of
the property has been completed.
We
will not
accept payments from any parties other than
the winning bidder as recorded on the invoice.
5.5 The winning bidder acknowledges that
We
will
abide by any export restrictions that may apply
in the countries from where specific properties
will be shipped. The winning bidder shall also
be responsible to ensure that the property(ies)
is freely importable into his 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
property shall be borne by the winning bidder.
The property(ies) shall be handed over to the
winning bidder or his nominee only upon full
payment of all such costs.
5.6
Lots
marked as “Art Treasures” and/or
“Antiquities” under the Antiquities and Art
Treasures Act, 1972 cannot be exported outside
India. 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 and Art Treasures Act, 1972 and/
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
.
5.7 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 or
INR 10,000 per month, whichever is higher, till
the date of actual payment.
5.8 Failure to collect: If the winning bidder informs
Us
that he/she wishes to collect the property
from
Us
in person and if such property is not
collected by the winning bidder within 30 days
of the payment formalities being completed,
We
shall arrange for storage of the property
at the winning bidder’s expense, and shall
only release the property after payment has
been made, in full, of the
Sale Price
, including
storage and insurance at applicable rates.
5.9
We
shall be entitled to exercise a lien on
the property for payment of any sums due
to
Us
from the winning bidder, including the
Sale Price
or costs relating to storage and
insurance where they are to be borne by the
winning bidder, in relation to any property
purchased by the winning bidder.
6. Authenticity Guarantee
6.1
We
provide a limited guarantee on the
authenticity of the
Lots
for a period of one year
from the date of the auction of such
Lots
.
We
only guarantee, subject to the qualifications
below, the information mentioned in all
capital letters in the title heading of the
Lot
in
the
Auction Catalogue
.
We
do not guarantee
any other attribute of such
Lot
even if such
other attribute is in all capital letters.
(i) For properties characterised as “art work”,
We
guarantee only the authorship with reference
to the name of the artist till such time that
the property is in
Our
possession.
We
do
not guarantee any other attribute of such
property; and
(ii) For properties characterised as “precious
objects (other than artworks)”,
We
guarantee
characteristics or features mentioned in
all capital letters in the heading of the
“Description of the Property” in the
Auction
Catalogue
(in the case of the
MobileApp
Auction Catalogue
, the characteristics or
features mentioned in all capital letters may
be displayed in a position other than the
heading) till such time that the property is
in
Our
possession.
We
do not guarantee any
other attribute of such property. Further, all
coloured stones, unless certified, may or may
not be treated for enhancements.
6.2 The authenticity guarantee does not apply to
title heading or part of a title heading which
4.16
We
and
Our
auctioneer (acting on
Our
behalf) have the right to exercise reasonable
discretion in setting bid increments, accepting
and 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
and
Our
auctioneer will be conclusive.
4.17 Any new bid will normally be accepted at a
value greater than the current highest bid
by a minimum increment, which applies to
each bid value. The next valid bid amount
is the current highest bid plus the minimum
increment value.
Our
auctioneer may, from
time to time, allow a bid in the saleroom at a
lower or higher increment than the minimum
increment. Online and mobile bids however,
are accepted only at the next valid bid based
on the minimum increment.
4.18 Subject to the discretion of
Our
auctioneer,
the highest bidder accepted by
Our
auctioneer
will be the winning bidder and the fall of
Our
auctioneer’s gavel shall mark the close of
bidding on each
Lot
.
Our
auctioneer may,
at his/her discretion, re-open bidding on a
Lot
after the fall of the gavel if a higher bid
placed prior to closing was inadvertently not
accepted.
4.19
We
and
Our
auctioneer (acting on
Our
behalf)
may, at
Our
sole and absolute discretion,
choose not to award the winning bid to the
winning bidder with the highest bid, if
We
deem it necessary to do so.
4.20
We
shall retain the right to display the
results of the sale and
Lot
details sold by
Us
,
including catalogue descriptions and prices
on
Our
website at all times, including after
the completion of the sale.
We
regret that
We
cannot agree to requests to remove these
details from
Our
website.
5. Completing the Purchase
5.1
We
will raise invoices on the winning bidder
for the
Sale Price
, applicable taxes on sale
of properties and other additional charges
that may be incurred by
Us
, if any, including
shipping and handling of the property and
additional levies.
5.2 The title to the property shall pass from the
seller to
Us
outside the territory of the United
States of America.
The title to the properties purchased shall
pass to the winning bidder at the time that
bidding is closed for each property and such
winning bidder shall thereafter assume full
risk and responsibility for such properties. In
any event, the properties purchased will not
be released or shipped out to the winning
bidder or his representative until the winning
bidder has fulfilled his payment and other
obligations as described in these conditions
for sale.
5.3 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 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.
5.4 No shipment or delivery of the property
will be made if the
Sale Price
(including the
applicable taxes and other service charges, if