130-131 / 144
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 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
and
Buyer’s Premium
, including storage and
insurance at applicable rates.
5.10
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
,
Buyer’s Premium
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 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 artwork (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. Subject to the
authenticity guarantee above, neither
Our
suppliers nor
Us
, nor
any of
Our
employees or agents, shall be responsible, either for
the correctness of any statements as to the authorship, origin,
date, age, attributes or genuineness of any property in the sale,
or for any mistakes in the description of the properties, or for any
faults or defects in the properties, or for any other act or omission
whatsoever.
We
offer no guarantee or warranty other than the
limited guarantee set out in Clause 6 above.
8.2 The rescission of the sale and the refund of the total
Sale Price
paid by the winning bidder is the sole remedy that may be sought
by a winning bidder, and such remedy is exclusive and in lieu of
any other remedy which may otherwise be available under law.
We
shall not be liable for any incidental or consequential damages
incurred or claimed.
9. Legal Notices
9.1
We
may validly serve a bidder with a legal notice, if required, by
the following means:
(i)
sending an email to the email address disclosed by the
bidder to
Us
; or
(ii)
sending a courier to the address disclosed by the bidder to
Us
.
9.2 Such legal notice shall be deemed to have been properly served:
(i)
in the case of email transmission: on the date of the
transmission; and
(ii)
in case of transmission by courier: 2 business days after
the dispatch of the notice by courier.
10. Severability
If any part of these conditions for sale is found by any court of law to
be invalid, illegal or unenforceable, that part may be discounted and
the rest of the conditions shall be enforceable to the fullest extent
permissible by law.
11. Governing Law and Jurisdiction
11.1 These conditions for sale are subject to the laws of:
(i)
India, in the event that the seller is located in India; and
(ii)
The United States of America, in the event that the seller is
located in any jurisdiction other than in India.
Such laws shall apply to the construction of the conditions for
sale and to the effect of the provisions thereof.
11.2 All parties are subject to the exclusive jurisdiction of courts at:
(i)
Mumbai, Maharashtra, India, in the event that the seller is
located in India; and
(ii)
New York, USA, in the event that the seller is located in any
jurisdiction other than in India.
12. Symbols used in this catalogue
Lots marked with indicate that Saffronart owns the
Lot
in
whole or in part or has an economic interest in the
Lot
equivalent
to an ownership interest.
Lots
marked with have been imported into India, and in order
to remove the
lots
from a Free Trade Warehousing Zone and
into Indian free circulation, a customs duty at 11% will be added
to the hammer price. The applicable GST will be charged on the
amount inclusive of the hammer price and the duty.
GLOSSARY
1.
Affiliates
: Saffron Art Private Limited, Planet Saffron Inc., Planet
Saffron Management Co. LLC, and their holding or subsidiary
companies as on the date of the online auction.
2.
Auction Catalogue
: The catalogue published by
Us
, whether in
print, on the
MobileApp
or on the website, containing details of
the auction along with the description, price and other details of
Lots
to be offered for sale at such auction.
In case of any discrepancy between the print
Auction
Catalogue
, the
MobileApp Auction Catalogue
, the online
Auction Catalogue
and/or the eCatalogue, the online
Auction
Catalogue
, as modified by
Us
from time to time, shall take
precedence.
3.
Buyer’s Premium
: The amount charged by
Us
from a winning
bidder for services rendered by
Us
, in accordance with these
conditions of sale, in connection with the purchase of products
by the winning bidder.
4.
GST
: Goods and Services Tax
5.
Lot/Lots
: An item to be offered at the auction, including two or
more items to be offered at the auction as a group.
6.
Our/Us/We
: Saffronart Management Corporation, acting either
on its own behalf, or as a representative of any of its
Affiliates
.
7.
MobileApp:
Mobile application developed by
Us
, providing a
mobile auction platform for the auction.
8.
ReservePrice
:Theminimumprice that a seller has communicated
to
Us
as being acceptable for the sale of a
Lot
through an auction.
9.
Sale Price
: The price at which a property is sold to the winning
bidder, exclusive of the
Buyer’s Premium
, 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.
10.
Technical Downtime
: The time period during which
Our
server
or website or mobile application is not in operation due to a
malfunction.