142-143 / 160
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 USD5,000 (or its INR equivalent)
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.
5.5 The winning bidder shall pay the sale price and
Buyer’s
Premium
in full (including applicable taxes and other
charges, if any) within 7 business days from the closing
date of the auction. No shipment or delivery of the
Lots
will be made to the winning bidder if the sale price
and
Buyer’s Premium
(including applicable taxes and
other service charges, if any) are not received by
Us
and
until all proper documentation in connection with the
sale of the
Lot
has been completed. Payments will not
be accepted from any parties other than the winning
bidder as recorded on the invoice.
5.6 The winning bidder acknowledges that
We
will abide by
any export restrictions that may apply in the countries
from where specific
Lots
will be shipped. The winning
bidder shall also be responsible to ensure that the
concerned
Lot
is freely importable into his/her 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
Lot
shall be borne by the winning bidder. The
Lot(s)
shall be handed over to the winning bidder or
his nominee only upon full payment of all such costs.
5.7
Lots
marked as “Art Treasures” under theAntiquities and
Art Treasures Act of 1972 cannot be exported outside
India. If you are the successful bidder for any such
Lot
,
you agree not to export such
Lot
outside India. Each
winning bidder is solely responsible for meeting the
requirements of the Antiquities and Art Treasures Act
of 1972 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
.
5.8 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 (winning bid plus
Buyer’s Premium
), or INR
10,000 per month, whichever is higher, till the date of
actual payment.
5.9 Failure to collect: If the winning bidder informs
Us
that
he/she wishes to collect the
Lot
from
Us
in person and
if such
Lot
is not collected by the winning bidder within
30 days of the payment formalities being completed,
We
shall arrange for storage of the
Lot
at the winning
bidder’s expense, and shall only release the
Lot
after
payment has been made, in full, of the sale price and
Buyer’s Premium
, including storage and insurance at
applicable rates.
5.10
We
shall be entitled to exercise a lien on the
Lot
for
payment of any sums due to
Us
from the winning
bidder, including the sale price,
Buyer’s Premium
or
costs relating to storage and insurance where they are
to be borne by the winning bidder, in relation to any
Lot
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.
6.2 The authenticity guarantee does not apply to title
heading or part of a title heading which is qualified.
A title heading is qualified when it is limited by a
clarification or limitation in all capital letters in the title
heading of the
Lot
in the
Auction Catalogue
.
6.3 The authenticity guarantee does not apply if the title
heading of the
Lot
in the
Auction Catalogue
, as on
the date of auction or as amended by any saleroom
notice, either is in accordance with the generally
accepted opinion of experts, or indicates that there is a
conflict of opinion of such experts.
6.4 The authenticity guarantee does not apply if it is proved
that the title heading of the
Lot
in all capital letters in the
Auction Catalogue
, is not authentic only by scientific
means or processes which, on the date
We
published
the
Auction Catalogue
, was not generally available
or accepted, or which was unreasonably expensive or
impractical to use, or which was likely to have caused
damage to the
Lot
, or which was likely to have caused
loss of value to the
Lot
.
6.5 In the unlikely event that within one year from the sale
of the Lot through auction, it is proved by the winning
bidder, to
Our
reasonable satisfaction, that the Lot was
not authentic and if, in
Our
opinion, bidders being aware
of such error or omission would have bid significantly
less than the actual sale price,
We
shall be entitled to
rescind the sale, and the seller will be liable to refund to
the winning bidder the sale price paid for the Lot.
6.6 The guarantee above shall be subject to the following
conditions:
(i) the claim is made by the winning bidder as
registered with
Us
and if the winning bidder has
owned the
Lot
continuously between the date of
auction and the date of claim (the benefit of the
claim is not assignable to any subsequent owners
or others who may acquire or have an interest in
any of the
Lots
);
(ii) the concerned property in the Lot is returned
to
Us
in the same condition that it was in at the
time of delivery of such property in the Lot to the
winning bidder; and
(iii) the concerned property in the Lot is indisputably
the same as purchased through the auction.
Once
We
obtain the refunded amount from the seller,
We
shall forward the same along with the amount
charged by
Us
as the Buyer’s Premium to the winning
bidder.
We
shall not be accountable to the winning
bidder for any taxes, shipping, handling or any other
charges that may have been applicable at any time from
the sale of the Lot till the claim.
6.7 All such claims will be handled on a case-by-case basis,
and in the case of an authenticity claim,
We
will require
that examinable proof, which clearly demonstrates that
the
Lot
is not authentic, is provided by an established
and acknowledged authority.
Our
decision in respect
of such claims shall be final and binding.
6.8 In all cases,
We
retain the right to consult with, at the
expense of the winning bidder, two recognised experts
in the field (such experts being mutually acceptable to
Us
and the winning bidder), to examine the Lot under
question before deciding to rescind the sale and offer
the refund under the guarantee set out above. The
opinion of the experts shall not be binding on us.
6.9 In the event of the seller’s failure to refund the proceeds
as stated in this paragraph, the winning bidder shall
return the concerned property in the Lot to
Us
and
authorise
Us
as its agent to initiate legal proceedings
against the seller. Any such steps taken or legal
proceedings instituted by
Us
against the seller shall be
to the cost of the winning bidder.
7. Privacy of Personal Information
We
will maintain the confidentiality of your personal
information as disclosed to
Us
and undertake to not disclose
such information to any third party, unless otherwise required
by law or a governmental authority.
8. Extent of Our Liability
8.1
We
have an obligation to refund the sale price and
Buyer’s Premium
to the winning bidder only in the
circumstances described above (in paragraph 6).
Damages to, or losses or loss in value of any of the
Lots
(excluding frames) incurred during shipping and transit
are covered as per the insurance policy obtained by
Us
. In case the winning bidder opts out of insurance
coverage arranged for by
Us
,
We
shall not entertain any
claims for damage or loss during shipping and transit.
142
143