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FREQUENTLY ASKED QUESTIONS
How do I view the lots?
All lots for sale are featured in this 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:
(i)
Previews and Viewings – Details listed on the Sales and
Enquiries section of the printed catalogue
(ii)
The online auction catalogue available on
saffronart.com(iii)
The printed auction catalogue
(iv)
The mobile auction catalogue available for download on
your mobile device
What do you mean by ‘Condition of Lots’?
All lots will be shipped out in an ‘as is’ condition, meaning that the item
is sold with all existing faults and imperfections. Saffronart encourages
all potential buyers to inspect each item carefully before bidding and to
not rely on an illustration of any item given in the catalogue. Condition
reports for all lots are available as a free service, online or upon request
by email, fax, or telephone.
What are special lots?
Lots marked as “Art Treasures” and/or “Antiquities” under the Antiquities
and Art Treasures Act, 1972 cannot be exported outside India. Buyers
are solely responsible for meeting the requirements of the Antiquities
and Art Treasures Act, 1972 or any related state legislation.
What are Price Estimates?
Each lot has a price range listed. These estimates are based on
characteristics of the lot such as condition, quality, rarity, provenance.
These estimates are provided only as a guide for buyers and do not
include Buyer’s Premium or applicable taxes. If applicable there is a link
for pricing achieved for similar art works at auction available next to the
lot in the online catalogue. Price estimates may be subject to revision.
What is a Reserve Price?
Unless stated otherwise, all lots offered in the auction are subject to a
reserve price, which is the minimum price that the lot may be sold for.
No lot will be sold below its reserve price and the reserve price will not
exceed the low price estimate. Reserve prices are confidential and will
not be disclosed.
How do I register to bid?
Bidders are advised to register at least 24 hours in advance of the
sale. Bidders may choose to register online or send in their details to
Saffronart and we will process the details for you. Saffronart requires
the following details from a first time bidder to register and process an
approval to bid:
(i)
Name
(ii)
Address
(iii)
Telephone Number
(iv)
Email Address
(v)
Know Your Customer (KYC) documents
(vi)
Credit card information/financial references/deposits
In some cases, Saffronart may request for a bidding limit value which is
a per lot limit based on your current bid value.
If you have bid or been approved to bid with us before, please use your
Saffronart login and password to accept the conditions for sale online.
Collecting a paddle in a live auction also implies an acceptance of the
conditions for sale. Please note the invoicing details provided at the
time of registration cannot be changed after the sale.
How do I Bid?
(i) Bidding in the Room: All approved bidders, including those who
have registered online, will be handed a paddle to bid in the
auction. Please bring a proof of identity to collect your paddle.
Registrations open 30 minutes prior to the sale.
(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 bidmust 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.
What is Buyer’s Premium?
Saffronart charges the buyer a premium on the winning bid value.
The Buyer’s Premium is calculated at the rate of 20% of the winning
bid value on each lot up to and including INR 10,00,00,000; 15% of the
winning bid value in excess of INR 10,00,00,000 up to and including
INR 15,00,00,000; and 12% of the winning bid value in excess of INR
15,00,00,000. For lots being shipped from India, a GST (Goods and
Services Tax) at applicable rate on the Buyer’s Premium shall be to the
account of the Buyer. This is applicable for deliveries within India as well
as overseas.
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 Buyer’s
Premium plus 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.
(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
and an18% GST on the Buyer’s Premium. 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, an 18% GST on the Buyer’s
Premium is applicable. 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 11% 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.
An 18% GST on the Buyer’s Premium is applicable on these lots.
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