These conditions for sale set out the terms on which We offer the Lots listed in this catalogue for sale on behalf of the
seller, and if you make a successful bid, will form a contract for sale
between you and the seller.
By participating in this auction, you acknowledge that you are bound by
these conditions for sale as listed below and on Our 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 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 our capacity as the auctioneer
working on behalf of and under directions of the seller) 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 Lots through this auction as agents for and on
behalf of sellers. Unless stated otherwise, We have no ownership interest
or any other financial interest in any of the Lots.
2.2 Making a bid by raising one's hand or paddle in the auction room,
submitting an absentee/proxy bid, communicating a bid over the telephone to
Our representative or bidding on Our Website and/or through the MobileApp
constitutes an irrevocable offer to purchase a 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 Lots
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 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.
3.3 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.
3.4 For the convenience of bidders, We provide condition reports on Lots
upon request free of charge. Bidders may please note thatWe have not carried out physical inspection of some of theLot/s, and have relied on the representations made by theSeller as to the condition of such Lots. 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.
3.5 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.
3.6 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 may withdraw any Lot before, during, or after the
auction, if We have reasons to believe that the authenticity of theLot 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.
4.4 We have the sole and absolute discretion to (i) provide bidding access,
whether in the saleroom, online, via telephone or through an absentee/proxy
bid; (ii) provide entry to the auction room and assign paddles; (iii)
disallow bidders from entering into the auction room or from bidding; and
(iv) ask bidders to surrender paddles at any time.
4.5 We may set limits on the value 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
limit, if any, and will not be allowed to bid further if their bidding
limit has been exhausted.
4.6 All bidders are required to provide complete and accurate invoicing
details to Us at the time of registration for the auction. Invoicing
details, once registered, will not be changed. Winning bidders shall be
invoiced based on details provided at the time of registering for the
auction.
4.7 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 Our auctioneer will accept bids from the bidding room, from telephone
bidders, from online/mobile bidders, and absentee/proxy bids submitted in
advance of the auction, either online or through a written form. Our
auctioneer has complete discretion on whether to accept an online/mobile
bid, a room bid, a telephone bid or an absentee/proxy bid at any given
time. Bids once placed by a bidder may not be cancelled. We reserve the
right to reject, accept and/or cancel a bid at Our sole and absolute
discretion.
5.2 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 will
be made open 30 minutes prior to bidding.
5.3 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 Our
auctioneer, it will be recorded. We do not accept any liability in the
unlikely event that an online bid is not executed or executed incorrectly.
5.4 Bidding on the Telephone: We accept requests from bidders to
place bids on the telephone with Our staff depending on availability. To
avail of this service, you must be registered as a bidder in accordance
with paragraph 3 above. Please note that the number of telephone lines
available for telephone bidding may be limited and this facility is
provided at Our sole and absolute discretion. We do not accept any
liability in the unlikely event that a telephone bid is not executed or
executed incorrectly, or in the event of faulty telephone connections or
the bidder not being reachable.
5.5 Bidding on the Mobile Application: Bidders may download Our
MobileApp onto any mobile device that supports Android and iOS, and use it
to place advance bids during the auction. To avail of this service, you
must be registered as a bidder in accordance with paragraph 4 above. We do
not accept any liability in the unlikely event that a bid through the
MobileApp is not executed or executed incorrectly.
5.6 Absentee/ Proxy Bids: Bidders may place bids prior to the sale
either online or in writing by submitting the absentee/proxy bid form.
Absentee/proxy bids may be accepted or refused at Our sole and absolute
discretion.
5.7 Currency of Bidding:
(i) Bids for Lots located in India may only be placed in Indian Rupees
(INR).
(ii) Bids for all out of India Lots, marked with the symbol , may be placed
only in Us Dollars (USD).
(iii) The foreign currency exchange rate used is constant during the
auction, and has currently been set at 1:73 (USD:INR). Prior to the start
of the auction, We may at Our discretion change the exchange rate used,
based on fluctuations in market exchange rates. The estimates for
individual Lots have been 'rounded off' for ease of reference and may not
reflect the exact exchange rate used for bid calculations.
5.8 Technical Downtime: In the unlikely event that Our Website or MobileApp
is inaccessible to bidders or partially disabled due to Technical Downtime
at any time, the auction will continue in the saleroom, unless specifically
discontinued at Our sole and absolute discretion. Bidders may contact Us
during such Technical Downtime to bid by telephone, subject to
availability. We accept no liability for any Technical Downtime. Online or
mobile bids recorded prior to or after any Technical Downtime may be
treated as valid. We shall not be liable for any loss of information due to
the Technical Downtime. The data logs of Our server will
determine the duration of the Technical Downtime. Any
determination made by Us in respect of recording of bids shall be final.
5.9 Mobile and Internet Networks: Due to the nature of mobile and
internet traffic, there may be an unpredictable time-lag between a bidder
placing a bid, and that bid being received by Us. We accept no liability
for such time lags owing to mobile and internet networks.
5.10 Bidders are advised to keep their login ID, password and paddle secure
at all times. We will hold the bidder responsible for all bids placed by
using their paddle or login ID and password, whether via Our Website,
through the MobileApp or in the sale room.
5.11 Our auctioneer may place bids on behalf of sellers either by placing
consecutive bids or by placing bids in response to other bidders, provided
such bids are less than the Reserve Price. Our auctioneer will not place
bids on behalf of the Seller for Lots that are offered with no Reserve
Price.
5.12 At the discretion of Our auctioneer, proxy bids submitted on "no
reserve" Lots will be executed at a minimum of 10% of the lower estimate of
the relevant Lot if there is no competing bid, and provided that the proxy
bid amount is greater than such minimum value.
5.13 Our employees may not bid in the auction once the auction has started.
They may, however, submit an absentee/proxy bid for an amount which may be
equal to or above the lower estimate of a Lot before the auction commences.
Once the auction has started, they may not increase their bid or alter it
in any way. Our employees may bid in charity auctions that are held on Our
auction platform.
5.14 Sellers are not allowed to bid on the particular Lot/s they have
consigned otherwise than as permitted under these conditions for sale.
5.15 A currency converter may be in operation in the saleroom for the
convenience of bidders. We accept no liability for any malfunction in the
currency converter.
5.16 We and Our auctioneer (acting on Our behalf) have the right to
exercise reasonable discretion in setting bid increments, accepting and
refusing any bid, advancing the bidding, withdrawing or dividing any Lot,
combining any two or more Lots, and in the case of error or dispute, during
or after the sale, determining the successful bidder, continuing the
bidding, cancelling the sale or reoffering and reselling the item in
dispute. If any dispute arises after the sale, then, in the absence of any
evidence to the contrary, the sale record maintained by Us and Our
auctioneer will be conclusive.
5.17 Any new bid will normally be accepted at a value greater than the
current highest bid by a minimum increment, which applies to each bid
value. The next valid bid amount is the current highest bid plus the
minimum increment value. Our auctioneer may, from time to time, allow a bid
in the saleroom at a lower or higher increment than the minimum increment.
Online and mobile bids however, are accepted only at the next valid bid
based on the minimum increment.
5.18 Subject to the discretion of Our auctioneer, the highest bidder
accepted by Our auctioneer will be the winning bidder and the fall of Our
auctioneer's gavel shall mark the close of bidding on each Lot. Our
auctioneer may, at his/her discretion, re-open bidding on a Lot after the
fall of the gavel if a higher bid placed prior to closing was inadvertently
not accepted.
5.19 We and Our auctioneer (acting on Our behalf) may, at Our sole and
absolute discretion, choose not to award the winning bid to the winning
bidder with the highest bid, if We deem it necessary to do
so.
5.20 We shall retain the right to display the results of the sale and Lot details sold by Us, including catalogue descriptions and
prices on Our Website at all times, including after the completion of the
sale. We regret that We cannot agree to requests to remove these details
from Our Website.
6. Completing the Purchase
6.1 We will raise invoices on the winning bidder for the Sale Price and
Buyer's Premium, applicable taxes on sale of Lots and other additional
charges that may be incurred by Us, if any, including shipping and handling
of the Lot and additional levies.
6.2 The title to the Lots marked with shall pass from the Seller to Us
outside the territory of the United States of America.
The title to the Lots purchased shall pass to the winning bidder at the
time that bidding is closed for each Lot and such winning bidder shall
thereafter assume full risk and responsibility for such Lots. In any event,
the Lots purchased will not be released or shipped out to the winning
bidder or his representative until the winning bidder has fulfilled his
payment and other obligations as described in these conditions for sale.
6.3 In respect of each sale at the auction, We shall charge a Buyer's
Premium calculated at the rate of (i) 20% of the winning bid value of up to
and including INR 20,00,00,000/ USD 2,700,000, (ii) 15% of the winning bid
value in excess of INR 20,00,00,000/ USD 2,700,000 up to and including INR
30,00,00,000/ USD 4,000,000, and (iii) 12% of the winning bid value in
excess of INR 30,00,00,000/ USD 4,000,000. A GST applicable on the Buyer's
Premium shall be payable by the winning bidder on Lots located and shipped
within and/or from India.
6.4 The winning bidder shall be invoiced based on details provided at the
time of registering for the auction. For Lots located in India, winning
bidders located in India will be invoiced in INR and all other winning
bidders will be invoiced in USD. For all out of India Lots, marked with the
symbol , winning bidders will be invoiced in USD. Payments must be made in
the currency on the invoice in any of the following modes of payment.
For INR payments
1. Cheque/Demand Draft
2. RTGS/NEFT
3. Credit card: up to INR equivalent of USD 5,000
For USD payments
1. Cheque
2. Direct wire transfer
3. Credit card: up to USD 5,000
NOTE: Payments in excess of USD 5,000 must be made through a wire transfer
or cheque. We and Our Affiliates will not be held responsible for any
refusal or failure to accept modes of payment not outlined above.
6.5 The winning bidder shall pay the Sale Price and Buyer's Premium in full
(including the applicable taxes and other charges, if any) within 7 (seven)
business days from the date of invoice. No shipment or delivery of the Lot
will be made if the Sale Price and Buyer's Premium (including the
applicable taxes and other service charges, if any) are not received by Us
and until all proper documentation in connection with the sale of the Lot
has been completed. We will not accept payments from any parties other than
the winning bidder as recorded on the invoice. Due to the prevailing
COVID-19 global health crisis, buyers can expect some delay in shipping and
delivery of the purchased Lot/s.
6.6 The winning bidder acknowledges that We will abide by any export
restrictions that may apply in the countries from where specific Lots will
be shipped. The winning bidder shall also be responsible to ensure that the
Lot/s is freely importable into his country or to the country where the
destination for delivery (as specified by the winning bidder) is located.
If the winning bidder or We become aware of any restrictions to such import
subsequent to the completion of the auction, the winning bidder shall
provide an alternate delivery destination to Us. All costs associated with
the process of delivery and storage (when required) of the Lot shall be borne by the winning bidder. The Lot/s shall
be handed over to the winning bidder or his nominee only upon full payment
of all such costs.
6.7 Lots marked as "Art Treasures" and/or "Antiquities" under the Antiquities Act and Rules cannot be exported outside
India, notwithstanding that the payment in lieu of such Lots may be
received from the winning bidder in USD. If you are the successful bidder
for any such Lot, you agree not to export such Lot outside of India. Each
winning bidder is solely responsible for meeting the requirements of the Antiquities Act and Rules, or any related state
legislation. Please note that the Lots are marked for your convenience
only, and We do not accept any liability for errors or for failing to mark
the Lots.
6.8 Non payment: In case payments are not received within 7 business
days of each invoice, We shall treat the same as a breach of contract of
sale by the winning bidder, and the Seller may, in such an event, authorise
Us to take any steps (including the institution of legal proceedings), as
it may deem to be appropriate to enforce payment by the winning bidder. In
addition, the winning bidder will be charged demurrage at 1% of the total
value (winning bid plus Buyer's Premium) or INR 10,000 per month, whichever
is higher, till the date of actual payment.
6.9 Failure to collect: If the winning bidder informs Us that he/she
wishes to collect the Lot from Us in person and if such Lot is not collected by the winning bidder within 30 days
of the payment formalities being completed, We shall arrange for storage of
the Lot at the winning bidder's expense, and shall only
release the Lot after payment has been made, in full, of
the Sale Price and Buyer's Premium, including storage and insurance at
applicable rates.
6.10 With respect to Lots which are Antiquities, pursuant to the ownership
along with registration of the Antiquity being transferred from the Seller
to the winning bidder in accordance with the provisions of the Antiquities Act and Rules, if the winning bidder informs Us that the
winning bidder wishes to collect the Antiquity from Us in
person and such Antiquity is not collected by the winning bidder within 30
days of the registration formalities being completed, We shall arrange for
storage of the Antiquity at the winning bidder's expense, and shall only
release the Antiquity after payment has been made, in full, of the Sale
Price and Buyer's Premium, including storage and insurance at applicable
rates.
6.11 We shall be entitled to exercise a lien on the Lot
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 Lot purchased by the winning bidder.
7. Authenticity Guarantee
7.1 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 Lot is in Our possession. We do not guarantee any other
attribute of such Lot; 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 Lot" 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 Lot is in Our possession. We do
not guarantee any other attribute of such Lot. Further,
all coloured stones, unless certified, may or may not be treated for
enhancements.
7.2 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.
7.3 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.
7.4 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.
7.5 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.
7.6 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.
7.7 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.
7.8 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.
7.9 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.
8. Privacy of Personal Information
8.1 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.
8.2 The winning bidder agrees to maintain the confidentiality of the
information about the Seller, including name and address, as mentioned in
any Antiquity related document/s.
9. Extent of Our Liability
9.1 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
7). Damages to, or losses or loss in value of any of the Lots (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
Lot in the sale, or for any mistakes in the description of the Lots, or for
any faults or defects in the Lots, 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.
9.2 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.
10. Copyright
All content of Our Auction Catalogue, the print catalogue,
eCatalogue and content on the Website and MobileApp are copyright protected
in favour of "Saffronart". All trademarks, names, brand names, etc. used in
the print Auction Catalogue and on the Website and
MobileApp are either trademarks or registered trademarks of Saffronart, or
of their respective owners. Any rights not expressly granted herein are
reserved. No image, illustration or written material maybe used or required
without Our prior written permission. We and the Seller(s) make no
representation or warranty that the winning bidder of a Lot will acquire
any copyright or other reproduction rights in it.
11. Legal Notices
11.1 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.
11.2 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.
12. Waiver
No failure or delay in exercising any right, power, privilege or remedy
under these 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
these conditions for sale shall prevent any further or other exercise
thereof or the exercise of any other right, power, privilege or remedy.
13. Severability
If any part of these conditions of sale between the winning bidder and Us
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.
14. Governing Law and Jurisdiction
14.1 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.
14.2 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.
15. 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 
are not situated in India and therefore, may only be bid
for and purchased in USD. Persons residing in India, wishing to bid in USD
must be eligible under the various foreign exchange regulations to make
payments overseas. Please contact Saffronart for further details.
GLOSSARY
Affiliates: Planet Saffron Inc., Saffron Art Private
Limited and their holding or subsidiary companies as on the date of the
auction.
Antiquities Act: The Antiquities and Art Treasures Act, 1972 and any
amendments made thereto from time to time.
Antiquity/Antiquities: An Antiquity as per Section 2 of the Antiquities Act
and registered under the provisions of Sections 14 and 16 of the
Antiquities Act.
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.
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 Lots by the winning bidder.
GST: Goods and Services Tax
Lot/Lots: A property, including an Antiquity, to be
offered at the auction, or two or more properties/ Antiquities to be offered at the auction as a group.
MobileApp: Mobile application developed by Us,
Saffronart, in Saffronart's capacity as Our service
provider providing a mobile auction platform for the auction.
Our/Us/We: Saffron Art Private Limited, acting either on
its own behalf, or as a representative of any of its Affiliates.
Reserve Price: The minimum price that a seller has communicated to Us as
being acceptable for the sale of a Lot through an auction.
Rules: The Antiquities and Art Treasure Rules, 1973 and any amendments made
thereto from time to time.
Sale Price: The price at which a Lot 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 Lot and additional levies.
Technical Downtime: The time period during which Our server or Website or
mobile application is not in operation due to a malfunction.
Website: Saffronart's website (www.saffronart.com), in Saffronart's
capacity as Our service provider providing an online auction platform for
the auction.