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CONDITIONS FOR SALE
These conditions for sale set out the terms on which
We
offer
the
Lots
listed in this catalogue for sale on behalf of sellers,
and if you make a successful bid, will form a contract for sale
between you and the seller.
By participating in this online auction, you acknowledge that
you are bound by these conditions for sale as listed below and
on the
Website
saffronart.com. You will find a glossary at the
end explaining the meanings of the words and expressions
which are in
bold
.
1. Eligibility and Compliance:
1.1
We
have been granted a valid licence under the
Antiquities Act
and
Rules
for conducting the auction of
Lots
which are
Antiquities
and for dealing in
Antiquities
as a part of the
Lots
being auctioned.
1.2
We
have verified the valid registration of the
Antiquities
in the name of the relevant sellers as required under the
Antiquities Act
and the
Rules
.
1.3
We
will have no ownership interest in any
Lot
which is an
Antiquity
, till the receipt of full payment by
Us
in respect
of such
Antiquity
from a winning bidder in accordance
with paragraph 6.7 below. Upon receipt of full payment
by
Us
from the winning bidder, the ownership of the
Antiquity
along with its registration (as required under
the
Antiquities Act
) will be transferred/delivered by
the seller to the winning bidder in accordance with the
provisions of these conditions for sale.
1.4 The possession of the
Lots
which are
Antiquities
has
passed from the respective sellers to
Us
within the
territory of India in accordance with the provisions of
the
Antiquities Act
and the
Rules
, and the sellers have
intimated the Archaeological Survey of India of such
transfer of possession of the concerned
Antiquity
from
such seller to
Our
designated premises.
2. Our role as the agent of the Seller:
2.1
We
undertake to sell the
Lots
through this online
auction as agents for and on behalf of sellers. Unless
stated otherwise,
We
have no ownership interest in any
Lot
in this online auction.
2.2 Making a bid online constitutes an irrevocable offer to
purchase the
Lot
and the acceptance of a bid as the
winning bid by
Us
shall result in an enforceable contract
of sale between
Us
, acting solely as the agent of the seller,
and the winning bidder.
3. Catalogue Descriptions and Condition of Lot
3.1
We
offer all
Lots
for sale at the auction on an "as is" basis,
meaning that each
Lot
is sold with all existing faults and
imperfections.
We
encourage all potential buyers to
inspect each item carefully before bidding.
3.2 Any statements made by
Us
, including by
Our
representatives/employees, about any
Lot
, whether
orally or in writing, concerning attribution of such
Lot
to, for example, any school of art or craftsmanship,
country or origin, history, provenance or condition, are
only expressions of
Our
opinion or belief. Such opinions
or beliefs have been formed honestly in accordance
with the standard of care expected of an auction
house, having due regard to the estimated value of each
Lot
.
We
have not carried out any exhaustive research
or analysis on any
Lot
to be sold in this auction, and
potential buyers should seek appropriate advice on
the condition of each
Lot
from their own professional
advisors.
3.3 For the convenience of bidders,
We
provide condition
reports on
Lots
upon request free of charge. The report
includes
Our
bona fide opinion on the condition of the
Lot
and is not an alternative to viewing and inspecting a
Lot
by a bidder, or a bidder’s duty to seek independent
advice on the
Lot
, including its description, condition
and authenticity.
3.4 The bidders undertake to:
(i) inspect and satisfy themselves prior to the auction
as to the condition and description of the
Lot
;
(ii) rely on their own judgment as to whether the
Lot
matches its description; and
(iii) not rely on an illustration of any
Lot
given in the
Auction Catalogue
.
3.5 Size description/s of all the
Lots
featured in the
Auction Catalogue
are approximate.
We
encourage
all potential buyers to inspect each item carefully
before bidding.
3.6 Neither
We
nor any of
Our Affiliates
, agents,
representatives, employees or directors shall be liable for
errors or omissions in any of the representations made in
the
Auction Catalogue
or otherwise, with respect to the
authenticity, description or condition of any
Lot
for sale
through this auction.
4. Viewing the Lots and Bidder Registration
4.1 All
Lots
for sale are featured in the
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) Viewings (details listed in the Sales and Enquiries
section);
(ii) The online
Auction Catalogue
;
(iii) The printed
Auction Catalogue
; and
(iv) The mobile
Auction Catalogue
4.2
We
maywithdrawany
Lot
before, during, or after the online
auction, if
We
have reasons to believe that the authenticity
of the
Lot
or the accuracy of the description of the
Lot
is in
doubt, or if there is a breach of
Our
terms of business, or if
We
otherwise believe, in
Our
sole discretion, that it would
be improper to include the
Lot
in the auction.
4.3 All
Lots
shall be sold subject to the
Reserve Price
. If the
winning bid is below the
Reserve Price
, the
Lot
shall
be considered unsold. The
Reserve Price
on each
Lot
shall be confidential and
We
shall have no obligation to
disclose the same to any bidder.
Lots
sold in "Absolute
Auctions" or marked as sold with "No Reserve" are not
subject to a
Reserve Price
and will be sold to the highest
bidder, irrespective of the bid amount.
4.4
We
have the sole and absolute discretion to: (i) determine
the form and content of the descriptions of
Lots
in the
Auction Catalogue
, (ii) granting bidding access to a
bidder, (iii) recording, rejecting or accepting bids, and (iv)
deciding which bid constitutes the winning bid, if any.
4.5 Online bidding access, and access to the
MobileApp
and the telephone bidding facility, shall be given at
Our
discretion and
We
may set limits on the number of bids
that may be made by a bidder and/or require payment
guarantees or deposits as a precondition to giving
bidding access to a bidder. Bidders will be informed of
their bidding limits, if any, and will not be allowed to bid
further if their bidding limit has been exhausted.
4.6 Bid updates and time extensions, if any, shall be updated
on the
Website
. On the
Website
, bidders may refresh
bidding values by clicking on the "Refresh" icon or the
re-load/refresh buttons on their browsers, to view latest
bid updates and time extensions, if any.
We
shall evaluate
the bid histories of specific
Lot
groups periodically to
preserve the efficacy of the auction process. This exercise
may be conducted by
Us
internally or through third
parties solely at
Our
discretion.
4.7 All bidders are required to provide complete and accurate
invoicing details to
Us
at the time of registration for the
auction and invoicing details once registered will not be
changed. The bidder shall be invoiced based on details
provided at the time of registering for the auction.
4.8 New bidders are advised to register at least 48 hours prior
to the bid. Know-Your-Customer (KYC) documents and/
or financial reference letters are required for individual
and corporate clients and
We
will not grant bidding
access if the bidder registration and KYC procedures are
not complete.
5. Bidding
5.1 For the convenience of bidders, in particular bidders who
are placing bids on more than one
Lot
,
Lot
groups are
scheduled to close at different times during the auction.
5.2 The bidding for various
Lot
groups shall be closed in
accordance with the bid closing schedule. However, a
bid can be recorded by
Us
in the 2 minutes prior to the
closing time of the
Lot
. The closing time for such
Lot
shall be extended to a time that is 2 minutes after the
time that the last bid was made. In the event of extension
of closing time in accordance with this paragraph,
bidding on the
Lot
shall only end if no bid is recorded
by
Us
for a continuous period of 2 minutes. Bidders are
advised to click on the "Refresh" icon on the
Website
page being viewed by them or on the "Refresh" button in
the browser at regular intervals (in accordance with the
provisions of paragraph 5.4 below) for updates on latest
bids and time extensions, if any.
5.3 The
Website
shall also contain a "My Auction" filtered
view of the
Auction Catalogue
and the bidder may click
on this link to access information on all bids made by
the bidder in respect of various
Lots
. For ease of tracking
bids, bidders are advised to assign bidding nicknames to
themselves. The
Website
shall contain the bid history for
each
Lot
, being the bid amounts that have been recorded
since the start of the auction till the current highest bid;
and a countdown clock indicating the amount of time
available for placing bids before the closing time.
5.4 The bid history, current bid and countdown clock shall
be accurate at the time of downloading of those values.
However, such information shall not reflect any changes
in the bid history, current bid and/or countdown clock
that may have occurred during the time taken for this
information to reach the bidder’s computer from
Our
server. The most updated bid values shall be shown only
when the information on bid values is refreshed, which
shall happen either automatically, or when a bidder clicks