CLASSICAL INDIAN ART | LIVE AUCTION, MUMBAI (9 MARCH 2017) : 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 www.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. SAPL 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, upon request.

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. 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 SAPL and we will process the details for you. SAPL 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, SAPL 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 Saffronart 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: SAPL 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 the discretion of SAPL.

(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. Visit the Mobile Bidding page under the “Services” section on saffronart.com to download the app for devices supported by iOS and Android.

(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 bid must 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. SAPL 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?

SAPL 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 7,00,00,000; 15% of the winning bid value in excess of INR 7,00,00,000, up to and including INR 12,00,00,000; and 12% of the winning bid value in excess of INR 12,00,00,000.

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 service tax 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 SAPL. 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.

Any sale of lots originating from India to an address in India is subject to a 13.5% VAT on the winning bid value and a 15% Service Tax on the Buyer’s Premium. A CST of 2% instead of the 13.5% VAT will be applicable on the winning bid value only if the purchasing entity is a business; the delivery location of the lot is outside the state of the location of the sale as mentioned in the Sales and Enquiries section of the catalogue and the buyer provides the necessary documentation required by the Sales Tax authorities. The final charges will be determined at the close of the auction and will be sent by email to the winning bidder.

International Shipping for Lots not marked as Special Lots

For lots originating from India, a 15% Service Tax 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 SAPL 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.

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 received your invoice within 48 hours of the close of the sale, please contact us.

For Buyers in India

Payment can be made in INR only by the following acceptable modes of payment:

(i) Cheque/Demand Draft: To be made in favour of Saffronart Pvt. Ltd.

(i) RTGS/NEFT: Details will be included with the invoice and available upon request

(ii) Credit card: up to INR equivalent of USD 5,000

For Buyers outside India

Payment can be made in USD only by the following acceptable modes of payment:

(i) Cheque: To be made in favour of Saffronart Pvt. Ltd.

(ii) Direct wire transfer: Details will be included with the invoice and available upon request

(iii) Credit card: up to USD 5,000

(iv) Payment from an NRE account: The invoice will be raised in USD based on the winning bid value, and the buyer will have to transfer an equivalent INR amount at the bank exchange rate. Please note that while USD payments are accepted for Special Lots, we require an Indian address for shipment.

When will my purchases be delivered/can I collect my purchases?

Upon receipt of payment from the buyer, SAPL will apply to the ASI (Archaeological Survey of India) for transfer of ownership of the Antiquity and we estimate that the process will take between 60- 90 days. We will be able to deliver your purchase as soon as we have completed all formalities with the ASI and the antiquity has been transferred to your name.

Purchases are shipped out within 7 - 10 business days after completion of the ASI transfer, and are insured under the terms of SAPL insurance policy (please note that frames are not insured). If there is an expected delay in dispatch, the buyer will be informed of the delay via email, unless the buyer has indicated an alternative preferred mode of communication.

What documentation will I receive with my purchases?

Upon confirmation of delivery or receipt of shipment, we will send you the invoices for your purchases along with the ASI registration certificate any relevant documentation for the lot that has been mentioned in the lot details. Please note that SAPL does not issue any authenticity certificates.

What if my shipment reaches damaged?

All purchases from this sale are final. In the unlikely event of your receiving a damaged product, please notify SAPL directly within five days of receipt of the lot. Please call or email us at any of our locations mentioned in the Sales and Enquiries section. If SAPL does not receive any notification within 7 business days of delivery, it shall be assumed that the lot has been received in good condition, and no claims will be entertained.

How do I participate in your next auction?

If you would like to register to bid or consign to any of our upcoming auctions please contact any of our locations listed in the Sales and Enquiries section.

If you would like to stay informed of Saffronart’s upcoming events, please register with us online at saffronart.com


Need help? Please check our guides on How to Bid. Auction Tips and FAQs.Email auction@saffronart.com, newyork@saffronart.com, london@saffronart.com, delhi@saffronart.com Tel: (91 22) 2432 2898/2436 4113 (Mumbai), (212) 627 5006 (New York), 44 (0) 20 7409 7974 (london), (91 11) 24304458 (New Delhi)