EXHIBITION - Select Indian Antiquities & Collectibles (Apr 18-30, 2013) : CONDITIONS FOR SALE

1. Definitions

"Antiquities Act" means the Antiquities and Art Treasures Act, 1972 and any amendments made thereto from time to time

"Antiquity" means an antiquity as per Section 2 of the Antiquities Act and registered under the provisions of Sections 14 and 16 of the Antiquities Act.

"Exhibition" means an exhibition of Antiquity/ Lot to be conducted by Collectibles Antiques on the Website on the date indicated in the Exhibition Catalogue.

"Exhibition Catalogue" shall refer to the catalogue published by Collectibles Antiques, whether in print, on the Mobile Application or on the Website and shall include the Exhibition Catalogue, the MobileApp, the Online Catalogue and the eCatalogue in respect of an Exhibition, containing details of the Exhibition along with the Description, price and other details of Antiquities to be offered for sale at such Exhibition. In case of any discrepancy between the Print Catalogue, the MobileApp Catalogue, the Online Catalogue and/or the eCatalogue, the Online Catalogue, as modified by Collectibles Antiques from time to time, shall take precedence.

"Buyer" means the Bidder making the Winning Bid in respect of an Antiquity and who has agreed to pay/ has paid both the Sale Price payable in respect of such Antiquity.

"Collectibles Antiques" means Collectibles Antiques (India) Private Limited, a company incorporated under the Companies Act, 1956 and having its registered office at Industry Manor, 3rd Floor, Prabhadevi, Mumbai 400 025 and where applicable, includes its authorised agents/ service providers and/ or its authorised consultants.

"Collectibles Antiques Server" means the computer(s) that provides other computers with access to resources shared on computer networks including Collectibles Antiques data, application files and printers.

"Conditions for Sale" means these Terms and Conditions published in any of the Exhibition Catalogues which shall be applicable to every sale of Antiquity made through an Exhibition. In case of a conflict between the Terms and Conditions published in the Online Catalogue and in the Print Catalogue or eCatalogue, the Online Catalogue version, as modified by Collectibles Antiques from time to time, shall take precedence.

"Description" means the details of an Antiquity as set out in the ExhibitionCatalogue. Prospective Buyers using the Mobile Application are advised to refer to the Online Catalogue, the Print Catalogue or the eCatalogue for the complete Description as all details may not be made available/accessible through the MobileApp Catalogue.

"eCatalogue" refers to an electronic reproduction of the Print Catalogue that may be made available on the Website for certain auctions.  

"Mobile Application" means Collectibles Antiques software application, as updated from time to time, and available for download from the Website for the purpose of viewing the MobileApp Auction Catalogue, placing Bids, viewing Exhibition and Auction results, and accessing other information related to Collectibles Antiques and the Auction.

"MobileApp Auction Catalogue" refers to the screens within the Mobile Application relating to the Exhibition, as may be amended from time to time.

"Notices" refers to information included in the Exhibition Catalogue by Collectibles Antiques – whether in print or online or on the Mobile Application - to correct errors and omissions in the Exhibition Catalogue. These are provided for the Buyers' convenience – however the Online Catalogue, as modified by Collectibles Antiques from time to time, shall take precedence in all cases of discrepancy.

"Online Catalogue" shall refer to the web pages on the Website relating to the Exhibition, as may be amended from time to time and shall include web pages accessible via the link "Exhibition Catalogue" (including all pages providing details related to the Antiquities) as well as additional pages containing details of the Auction such as "Sale Guide", "About the Auction", "Conditions for Sale", "Notices", etc.

"Print Exhibition Catalogue" refers to the printed version of the Exhibition Catalogue.  

"Rules" means the Antiquities and Art Treasure Rules, 1973 and any amendments made thereto from time to time.

"Seller" means the owner of the Antiquity, consigning the Antiquity to Collectibles Antiques as its agent for sale through the Exhibition. However, it is hereby clarified that upon receipt of full payment by Collectibles Antiques for an Antiquity from the Buyer in accordance with the provisions of Clause 2.15, the ownership of the Antiquity along with its registration will be first transferred/ delivered from the Seller to Collectibles Antiques in accordance with the provisions of the Antiquities Act and the Rules and thereafter the ownership of such Antiquity along with its registration will be transferred/ delivered by Collectibles Antiques to the Winning Bidder/ Buyer in accordance with the provisions of the Conditions for Sale.

"Technical Downtime" means the time period during which the Collectibles Antiques Server or the Website is not in operation due to a malfunction.

"Terms of Business" means the terms of business executed between Collectibles Antiques and the Seller.

"Website" means the collection of HTML and/or internet data and media located at the URL www.saffronart.com and/or any other URL linked to the Website.

2. General Terms

By purchasing in this Exhibition, you acknowledge that you are bound, without modification, limitation or qualification by the Conditions for Sale as listed below and on the Website. Collectibles Antiques may, at its sole discretion, modify or revise the Conditions of Sale at any time by updating this page on the Website and the prospective Bidder, Bidder, Seller and any other person using the Website shall be bound by any such modification or revision and should therefore visit this page periodically to review the Conditions of Sale.

  1. 2.1 Collectibles Antiques reserves the right to withdraw any Antiquity before, during or after the Exhibition, if it has reason to believe that the authenticity of the Antiquity or the accuracy of the Description is in doubt, or if there is a breach of the Terms of Business, or if, in the opinion of Collectibles Antiques, compliance with the Antiquities Act and/ or Rules is not possible for any reason whatsoever, or if Collectibles Antiques otherwise believes, in its sole discretion, that it would be improper to include the Antiquity in the Auction.

  2. 2.2 Collectibles Antiques shall raise invoices on the Buyer for the Sale Price, applicable taxes being VAT and/or service tax on sale of Antiquities and other additional charges that may be incurred by Collectibles Antiques, if any, including shipping and handling of the Antiquities and additional levies, from time to time.

  3. 2.3 The possession of the Antiquity has passed from the Seller to Collectibles Antiques within the territory of India and as per the provisions of the Antiquities Act and the Rules, the Seller has intimated the Archaeological Survey of India of such transfer of possession of the Antiquity from the Seller to the designated premise of Collectibles Antiquities. Upon receipt of full payment by Collectibles Antiques from the Buyer in accordance with the provisions of Clause 2.15 the ownership of the Antiquity along with its registration (as required under the Antiquities Act) will be transferred from the Seller to Collectibles Antiques in accordance with the provisions of the Antiquities Act and Rules.

  4. Subject to fulfillment of all the Conditions for Sale, the title to the offered Antiquity shall pass to the Buyer upon full payment by the Buyer to Collectibles Antiques in accordance with the provisions of Clause 2.15 and such Buyer assumes full risk and responsibilities therefore. However, since Collectibles Antiques cannot deliver possession of the Antiquity to a third person prior to transferring the ownership along with valid registration to such third person as per the provisions of the Antiquities Act and the Rules, subject to receipt by Collectibles Antiques of full payment in accordance with Clause 2.15 and of the duly signed requisite forms and documents from the Buyer required for the purpose of transferring the ownership along with registration of the Antiquity to the Buyer, best endeavours shall be made by Collectibles Antiques to transfer/ deliver such Antiquity to the Buyer within 90 days from the date of the receipt of full payment as described in Clause 2.15 and transfer papers from the Buyer. The Buyers are hereby made aware that the process for transfer of ownership along with registration from one person to the another as per the provisions of the Antiquities Act and the Rules is a process administered by the Archaeological Survey of India and may take longer than the envisaged period of 90 days. Collectibles Antiques will not be responsible for any delays involved in transfer/ delivery of ownership along with registration of the Antiquity. In the event that the Registering Officer or any other employee of the Archaeological Survey of India empowered to execute the transfer of ownership along with registration of an Antiquity insists on sending the duly transferred registration certificate directly to the Buyer, Collectibles Antiques will not be responsible for any damage or loss in transit of the said registration certificate. Buyers are advised to read and abide by the provisions of the Antiquities Act and the Rules and all notifications issued thereunder from time to time, which are available with the Archaeological Survey of India and also at the website of the Archaeological Survey of India www.asi.nic.in.  

  5. 2.4 All monetary values including the Sale Price during the Collectibles Antiques Exhibition shall be calculated in INR, the lawful currency of India and no other currency. US dollar values if and where provided, are only for the sake of convenience of Bidders/Buyers who may wish to compare the values of Antiquities with international sales held outside India.

  6. 2.5 All Bidders are required to provide complete and accurate invoicing details to Collectibles Antiques at the time of the purchase, and invoicing details once registered by Buyers shall not be changed. The Buyer shall be invoiced based on details provided at the time for registering for the Auction which has to be and will be a valid invoicing address within the territory of India. The invoicing details of all Buyers should mandatorily specify an address within the territory of India where the shipment of the Antiquity has to be delivered. In the event that a party is bidding on a third person's behalf, it is the bidding party's responsibility to ensure that all paperwork explaining the transaction and relationship has been completed prior to the purchase as per the registration requirements. All registration formalities with Collectibles Antiques must be completed prior to the purchase.

  7. 2.6 The Buyer shall pay the Sale Price in full (including the applicable taxes, such as VAT and/or service tax, and other charges, if any) within 7 (seven) business days from the date of invoice. Subject to Clause 2.11, no shipment or delivery of the Antiquity will be made to the Buyer if the Sale Price (including the applicable taxes and other service charges, if any) are not received by Collectibles Antiques, and until all proper documentation in connection with the sale of the Antiquity has been completed and until the ownership along with registration of the Antiquity has not been transferred from the Collectibles Antiques to the Buyer in accordance with the provisions of the Antiquities Act and the Rules. Payments will not be accepted from any parties other than the Buyer as recorded on the invoice.

  8. 2.7 Non payment

    The Buyer shall ensure that invoices raised by Collectibles Antiques are paid in full and all remittance of amounts due under the invoice is made within 7 (seven) business days from the date of the invoice. In case payments are not received within such period, this shall be treated as a breach of contract of sale by the Buyer and in such an event Collectibles Antiques may take any steps (including the institution of legal proceedings), as it may deem to be appropriate to enforce payment by the Buyer. In addition, the Buyer will be charged demurrage @ 1% of the total value per month till the date of actual payment. In case of non-payment by the Buyer, Collectibles Antiques also has a right to re-offer the Antiquity for sale, in which case, the Buyer will have to bear any and all financial loss borne through the process of reselling the Antiquity. This includes any monetary shortfall between the original amount fetched at the exhibition and the new price obtained at resale as well as all losses related to commissions, premiums, shipping, insurance and storage charges, legal fees and all applicable taxes.

  9. 2.8 Failure to collect

    Pursuant to the ownership along with registration of the Antiquity being transferred from Collectibles Antiques to the Buyer in accordance with the provisions of the Antiquities Act and Rules, if the Buyer informs Collectibles Antiques that he wishes to collect the Antiquity from Collectibles Antiques in person and such Antiquity is not collected by the Buyer within 30 days of the registration formalities being completed, Collectibles Antiques shall arrange for storage of the Antiquity at the Buyer's expense, and shall only release the Antiquity after payment has been made, in full, of the demurrage @ 1% of the total value per month (if applicable) and the charges for storage of the Antiquity, if any.

  10. 2.9 Collectibles Antiques shall be entitled to exercise a lien on the Antiquity for payment of any sums due to it from the Buyer, including the Sale Price, Buyer's Premium or costs relating to storage and insurance where they are to be borne by the Buyer, in relation to any Antiquity purchased by the Buyer.

  11. 2.10 The Buyer, Seller and Collectibles Antiques shall at all times abide by the provisions of the Antiquities Act and Rules.
  12. 2.11 The Buyer acknowledges that all of the Antiquities whether specifically indicated in the catalogue or otherwise cannot be exported out of India without the prior consent of the Director General, Archaeological Survey of India, New Delhi. The Buyer further acknowledges that if the Buyers exports Antiquities in contravention of the Antiquities Act and the Rules, then the Buyer may be liable under the provisions of the Antiquities Act (which may include imprisonment and fine).

3. Catalogue Descriptions And Condition of Antiquity

3.1 Collectibles Antiques offers all Antiquities for sale at the Exhibition on an "as is basis", meaning that an Antiquity is sold with all existing faults, restorations and imperfections. Collectibles Antiques encourages all potential Buyers to inspect and verify each Antiquity carefully before bidding.

3.2 Any statements made by Collectibles Antiques about any Antiquity, whether orally or in writing concerning attribution to, for example, any school of art or craftsmanship, country or origin, history, authenticity or provenance, are only expressions of Collectible Antiques opinion or belief and do not constitute a representation, warranty or assumption of liability of them in any manner whatsoever. 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 estimate value of the Antiquity. However, Collectibles Antiques does not in any way represent that it has carried out exhaustive research or analysis, and it is therefore recommended, especially in cases of Antiquities of high value, that potential Buyers seek advice on such matters from their own professional advisors.

3.3. The Buyer undertakes to:

  1. to inspect and satisfy himself prior to the Auction as to the condition and Description of the Antiquity;

  2. to rely on his own judgment as to whether the Antiquity matches its Description; and

  3. to not rely on an illustration of any Antiquity given in the Exhibition Catalogue.

3.4 Conditions report are provided on request and are solely based on the information (oral and/ or in writing) provided by the Seller and is just an opinion as to the condition. In the event that Collectibles Antiques is of the view that there is a significant difference in the physical aspect relative to its appearance as displayed on the Website, an email will be sent to the Buyer regarding the difference and Collectibles Antiques will await the Buyer's decision to proceed with the order.

3.5 Neither Collectibles Antiques nor any of its affiliates, agents, representatives, employees or directors shall be liable for errors or omissions in any of the opinions made in the Exhibition Catalogue or otherwise with respect to authenticity, provenance, description, or condition of any Antiquity for sale through the Exhibition.

4. Copyright

All content of the Print Catalogue, eCatalogue and on the Website and Mobile Application are copyright protected in favour of Collectibles Antiques. All trademarks, names, brand names, etc. used in the Print Catalogue and on the Website and Mobile Application are either trademarks or registered trademarks of Collectibles Antiques. Any rights not expressly granted herein are reserved. No image, illustration or written material maybe used or required without the prior written permission of Collectibles Antiques. Collectibles Antiques and the Seller(s) make no representation or warranty that the Buyer of an Antiquity will acquire any copyright or other reproduction rights in it.

5. Legal Notices

5.1 Collectibles Antiques may validly serve the Buyer with legal notice, if required, under these Conditions of sale by:

(i) Sending an email to the email address disclosed by the Buyer to Collectibles Antiques; or

(ii) Sending a courier to the address disclosed by the Buyer to Collectibles Antiques.

5.2 Such legal notice shall be deemed to have been properly served:

(i) In the case of email transmission - on the date of the transmission; or

(ii) In case of transmission by courier - 2 business days after the dispatch of the notice by courier.

6. Waiver

No failure or delay in exercising any right, power, privilege or remedy under the Conditions for Sale shall in any way impair or affect the exercise thereof or operate as a waiver thereof in whole or in part. No single or partial exercise of any right, power, privilege or remedy under the Conditions for Sale shall prevent any further or other exercise thereof or the exercise of any other right, power, privilege or remedy.

7. Severability

If any part of the Conditions for Sale between the Buyer and Collectibles Antiques 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.

8. Law and Jurisdiction

The Conditions for Sale are subject to the laws of India. All parties are subject to the exclusive jurisdiction of courts at Mumbai, Maharashtra, India.