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 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 clause 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 Rules, and the sellers have
intimated the Archaeological Survey of India (ASI) of such a 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. Due to
the prevailing COVID-19 global health crisis, some of the Lots for sale may
not be available for viewing or physical inspection until further notice.
We encourage all potential buyers to check the condition report of 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. Bidders may please note that We have not
carried out physical inspection of some of the Lot/s and have relied on the
representations made by the seller 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.
3.4 The bidders undertake to:
(i) Inspect the condition report and/or seek an independent professional
advice on the Lot, 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 MobileApp Auction Catalogue
4.2 We may withdraw any 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) grant
bidding access to a bidder, (iii) record, reject or accept bids, and (iv)
decide 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 reload/refresh buttons on their browsers, to view
the 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. Invoicing
details once registered will not be changed. The bidder shall be invoiced
based on the 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 an extension of closing time in accordance
with this clause, 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 clause 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 with respect to 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 on the "Refresh"
icon on the Website page, or on the "Refresh" or "Reload" button on his/her
internet browser. After the values on the page have been refreshed, any
changes in the bid history shall not be visible to the bidder until the
values are refreshed again, whether automatically on the Website , or by the bidder.
5.5 When the countdown clock counts down to zero, in the case where the
closing time in respect of a particular Lot has been extended by a further
2 minutes pursuant to clause 5.2 above, the countdown clock may not reflect
such an extension. The bidder may wait for the values on the page to
refresh automatically on the Website or click on the "Refresh" icon on the
page, or on the "Refresh" or "Reload" button on his/her internet browser
after the countdown clock has counted down to zero to determine whether the
closing time has been extended for that Lot.
5.6 The countdown clock combined with the current highest bid as shown on
the bid history on the Website shall only be an indication of the highest
bid amount at the time when the values on the Website were refreshed in the
manner set out in clause 5.4 above. Should bidders want more frequent
updates, they are advised to refresh values as described in clause 5.5
above in order to view the most updated bid history and countdown clock.
5.7 Bidders may download the MobileApp onto any mobile device that supports
Android and iOS and use it to place advance bids. To avail of this service,
you must be registered as a bidder. We do not accept any liability in the
unlikely event that a bid made through the MobileApp is not executed or
executed incorrectly.
5.8 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.
5.9 Technical Downtime: In the unlikely event that the
Website or MobileApp is inaccessible to bidders or partially disabled due
to Technical Downtime at any time during the half an hour prior to the
scheduled closing time of the auction for any of the Lot groups, the
closing time of that Lot group and subsequent Lot groups will be extended
by a duration of thirty (30) minutes. In case the Technical Downtime
extends beyond the closing time for a particular Lot group, the Website and
the MobileApp, as the case may be, shall, after the Technical Downtime,
show the auction for the particular Lot group as closed. However, the
closing time for such Lot group and subsequent Lot groups shall be extended
by a duration of thirty (30) minutes and appropriate details of the
extension shall be published on the Website shortly after recovery from the
Technical Downtime. Bids recorded prior to any Technical Downtime will be
treated as valid. We may, however, reopen some or all of the closed Lots in
a particular closed Lot group for bidding in the event bidding access to
such Lots was unavailable/ unresponsive/restricted during the Technical
Downtime, and appropriate details regarding the reopening
of such Lots shall be published on the Website shortly after recovery from
the Technical Downtime.
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 and any determination made by Us in respect of extension
of the closing time shall be final.
5.10 Due to the nature of internet and/or mobile traffic, there may be an
unpredictable time-lag between a bidder placing a bid, and that bid being
received by Us. Therefore, although a bidder may have placed his/her bid
prior to the closing time, the bid may be received by Us after the closing
time for the Lot in respect of which the bid has been placed and shall, in
such an event, be rejected. In order to prevent bids from being rejected in
such a manner, bidders may set proxy bids/automatic bids on Lots which the
bidder wishes to bid for.
5.11 Proxy bids may be recorded with Us 12 hours prior to the closing time,
subject to the other provisions of these conditions for sale, including any
limits imposed by Us on the number of bids that a bidder may place. Proxy
bids are accepted from bidders once they have been given bidding access for
the auction and may be entered prior to auction start and up until the
auction closes.
Once a bid is registered in Our system, whether placed by an active bidder
or by proxy, it is immediately and automatically displayed for all
registered users to see.
5.12 Bidders are advised to keep their login ID and password secure at all
times. We will hold the bidder responsible for all bids placed using their
login ID and password, whether via the Website or through the MobileApp.
Bidders choosing to bid via telephone are advised to re-set their passwords
at the close of the auction.
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 also bid in charity auctions that are held on
the Auction Platform.
5.14 Our Auction Platform does not allow any bids to be placed by Us on
behalf of a seller. All bids recorded are from registered bidders.
5.15 We have the right to exercise reasonable discretion in setting bid
increments, 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
will be conclusive.
5.16 We reserve the right not to award the winning bid to the bidder with
the highest bid at the closing date if We deem it necessary to do so.
5.17 At Our discretion, 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. Notwithstanding the above, in the event that there
is a bid lower than such minimum value and there is no competing higher
bid, then We may, at Our discretion, execute the Lot at such lower value.
5.18 We shall retain the right to display the results of the sale and Lot details sold by Us, including catalogue descriptions and
prices on the Website at all times, after the completion of the sale. We
regret that We cannot agree to requests to remove these details from the
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 the Lots and
other additional charges that may be incurred by Us, if any, including
shipping and handling of the Lots and additional levies.
6.2 (i) The title to all Lots marked with 
shall pass from the seller to Us outside the territory of the United States
of America.
6.2 (ii) The title to the Lots other than mentioned in 6.2(i) above 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 Lot. In any event, the Lots purchased will not be
released or shipped out to the winning bidder or his/her representative
until the winning bidder has fulfilled his payment and other obligations as
described in these conditions for sale.
6.3 For Lots which are not Antiquities, 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 Lot(s). In any event, Lots purchased will not be
released or shipped out to the winning bidder or his/her representative
until the winning bidder has fulfilled his/her payment and other
obligations as described in these conditions for sale.
6.4 (i) Subject to fulfilment of all these conditions for sale, the title
to the Lots which are Antiquities shall pass to the winning bidder upon
full payment by the winning bidder to Us, and such winning bidder assumes
full risk and responsibilities thereafter. However, since We cannot deliver
possession of the Antiquity to a third person prior to transferring the
ownership along with valid registration to such third person in accordance
with the provisions of the Antiquities Act and the Rules,
subject to receipt by Us of full payment and of the duly signed requisite
forms and documents from the winning bidder required for the purpose of
transferring the ownership along with registration of the Antiquity to the
winning bidder, We shall make best endeavours to transfer/deliver such
Antiquity to the winning bidder within 90 days from the date of the receipt
of full payment, and transfer papers from the winning bidder. The winning
bidders are hereby made aware that the process for transfer of ownership
along with registration from one person to the other in accordance with the
provisions of the Antiquities Act and the Rules is a
process administered by the ASI and may take longer than the envisaged
period of 90 days. We will not be responsible for any delays involved in
transfer/delivery of ownership along with the registration of any
Antiquity. In the event that the registering officer or any other employee
of the ASI empowered to execute the transfer of ownership along with
registration of an Antiquity insists on sending the duly transferred
registration certificate directly to the winning bidder, We will not be
responsible for any damage or loss in transit of the said registration
certificate. Winning bidders 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 ASI and also at the Website of the ASI ( www.asi.nic.in).
6.4 (ii) Lots over a hundred years old, whether registered with the ASI or
otherwise,
or deemed National Treasures, are NON-EXPORTABLE as per the Antiquities Act and the Rulesand cannot be exported
out of India.
6.5 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 USD 2,000,000 and (ii) 15% of the winning bid value in excess
of USD 2,000,000. GST applicable on the Buyer's Premium shall be payable by
the winning bidder.
6.6 The winning bidder shall be invoiced based on the details provided at
the time of registering for the auction. Winning bidders located in India
will be invoiced in INR and all other 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 the 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, or its INR equivalent, 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.
6.7 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.
Subject to clause 6.4 above, no shipment or delivery of the Lot will be
made to the winning bidder 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, and until the
ownership along with registration of the Lot has not been transferred from
the seller to the winning bidder (in case of Lots which are Antiquities,
such transfer being in accordance with the provisions of the Antiquities Act and the Rules). Payments will not be
accepted 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 a delay in shipping and delivery of the purchased Lot/s.
6.8 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) are freely importable into his/her 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/her nominee only upon full payment of all such costs,
subject to clause 6.7 above.
6.9 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.
6.10 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.
6.11 With respect to Lots which are Antiquities, pursuant to the ownership
along with the registration of the Antiquity being transferred 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 Usin
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.
6.12 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
Lots even if such other attribute is in all capital letters.
7.2 The authenticity guarantee does not apply to a 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 clause 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 7 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, e-Catalogue, 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 legal notice, if required, under
these conditions for sale by:
(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; or
(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 for 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
These conditions for sale are subject to the laws of India. All parties are
subject to the exclusive jurisdiction of courts at Mumbai, Maharashtra,
India.
15. Symbols used in this catalogue
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.
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.
GLOSSARY
Affiliates: Saffron Art Private Limited, Planet Saffron
Inc., and their holding or subsidiary companies as on the date of the
online 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 Antiquities 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 e-Catalogue, the online Auction Catalogue, as modified by Us
from time to time, shall take precedence.
Buyer's Premium: The amount charged by Us from the winning bidder for
services rendered by Us, in accordance with these conditions for sale, in
connection with the purchase of the 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 Saffronart, in Saffronart's
capacity as Ourservice provider providing a mobile
Auction Platform for the auction.
Our/Us/We: Saffronart Management Corporation, 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 the auction.
Rules: The Antiquities and Art Treasure Rules, 1973 and any amendments made
thereto from time to time.
Technical Downtime: The time period during which the
Website or its server 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.