All lots for sale are featured in this auction catalogue.
The lots in this catalogue have been acquired from the collection
of Keren Souza Kohn and imported into India by the present owner.
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:
1. The Auction Previews and Viewings
Please see the Sale
Guide for more information on the previews and viewings
2. The online Auction Catalogue
All lots are featured on the
website. You may search for lots by lot number, artist, medium, style, and price
range.
3. The mobile Auction Catalogue
Saffronart has developed a
downloadable software application for bidding on mobile devices, which will
include abbreviated information on each lot.
4. The Printed Auction Catalogue
All lots are published in the
printed auction catalogue. You can order this catalogue by calling Saffronart at
+91 (0) 22 2436 4113 or emailing us at [email protected]
India: Rs.
2000 (inclusive of shipping and handling charges)
International: US $ 50
(inclusive of shipping and handling charges)
Price Estimates
Each lot has a price range listed. These estimates are provided
only as a guide for buyers. You may check the comparable prices
of similar works of art through a link, called ‘comparables’
which is listed next to each lot in the online catalogue. Please
note that the estimates for individual lots have been ‘rounded
off’ for ease of reference and do not necessarily reflect the exact
exchange rate used for bid calculations. Price estimates for each
lot are prepared well in advance of the sale and may be subject
to revision. Estimates do not include the buyer’s premium or
any applicable additional charges such as shipping, insurance and
taxes.
How to Bid
Registering to Bid
You must be pre-registered and approved for the Saffronart
auction in order to bid.
All bidders, whether submitting written bids or bidding online,
in the saleroom, or over the phone, are strongly encouraged to
pre-register online on the Saffronart website in advance of the
auction date, to ensure there is sufficient time to process your
registration.
Online Registration
If you already have a Saffronart login id and password, you will
still have to pre-register for each auction using your existing
login id, and accept the conditions for sale for that auction. In
order to pre-register, fill out the pre-registration form online or
call Saffronart. Once you pre-register and accept the conditions
for sale, a Saffronart representative may call to verify your
details and request additional information prior to giving you
bidding access. In the event the Saffronart representative cannot
reach you on the phone, an email will sent to you, asking for
additional information and providing you with phone numbers
to get in touch with Saffronart. Please note that if we do not
receive your response to the additional information request,
bidding access may not be available. Please also note that the
verification process might take time and bidders are advised to
pre-register at least 24 hours prior to the start of the auction so
that bidding access is available at the start of the auction.
Once your pre-registration has been accepted you will be sent
an email confirming your bidding authorization along with your
login ID and password.
Registration at the Auction
On the day of the auction, bidders can also register up to an
hour prior to the start of the auction at the registration desk in
the saleroom. Bidders must have a proof of identity and address.
We may also require credit card authorisation, bank details such
as a recent bank statements and/or a letter of reference from
your bank, and/or trade references to grant bidding access.
Once approved, you will be assigned a paddle number for room
bidding, as well as a Saffronart login id and password for online
access.
Bidding Limits
Bidding access shall be given at Saffronart’s discretion and
Saffronart may set limits on bidders and/or require payment
guarantees or deposits prior to giving bidding access. You will
be informed of the limits if any and will not be allowed to bid
further if your bidding limit is exhausted. If you are informed
of limits, please feel free to request additional information or
assistance if you are unclear.
The auctioneer accepts bids from the room, from phone
bidders, based on written bids submitted in advance of the
auction and from online bidders. The auctioneer may also place
bids on behalf of the seller up to the amount of the reserve.
These bids will not be specifically identified as placed on behalf
of the seller.
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.
You may view and hear the auction on your 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, their bid will be recorded.
Please note the following differences when bidding online in
this auction (a Saffronart Live Auction) versus Saffronart Online
Auctions:
• Bidding on lots is sequential i.e., at any given time a single
lot is open for bidding. When that lot is closed by the
auctioneer in the room, bidding will be opened on the next
lot by the auctioneer.
• A bid is not recorded until the auctioneer in the auction
room accepts the bid.
• Proxy bids may not be placed online. Please see below for
how to enter a written bid in advance of the auction start.
Bid histories are not available in Live Auctions.
• Saffronart’s mobile applications for the iPad, iPhone and
Blackberry may be used to view the Live Auction catalogue,
but may not be used for bidding.
Entering a Written Bid
You can also place written bids by faxing the written bid form
(available online) to +91 (0) 22 2432 1187. A written bid
indicates a maximum bid amount, and authorizes the Saffronart
auctioneer to place bids on your behalf.
Telephone Bids
As an approved bidder, you may also bid via the telephone by
contacting any of the Saffronart locations in the Sale Guide. The
number of telephone lines available for telephone bidding may
be limited, hence interested bidders are urged to register at
least a day before the auction. This facility will be granted solely
at Saffronart’s discretion. Please note that telephone bids are
accepted and recorded at Saffronart’s discretion.
Bid Cancellation
No bid may be cancelled by a bidder. Saffronart reserves the
right to cancel a bid at its discretion if it considers it necessary
to do so in order to protect the efficacy of the bidding process.
Bid Increments
Any new bid will normally be 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. This minimum increment is called
out by the auctioneer and also determines the next valid bid for
online bidders.
The auctioneer may from time to time allow a bid in the room
at a lower or higher increment than the minimum increment.
Online bids however, are accepted only at the next valid bid
based on the minimum increment.
Reserve Price
All lots in the auctions are subject to a reserve price, which is
confidential. The reserve price 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 (see the
price estimate section for more information). Reserve prices
will not be disclosed.
Opening Bid
Bidding on all lots begins at the opening bid value. The opening
bid is the value at which the auction house starts the bidding on
a particular lot.
Winning Bids
The final bid announced by the auctioneer is considered a
winning bid, only if the bid equals or exceeds the reserve price.
If the final bid on a particular lot is below the reserve price, it
will not be considered a winning bid and the lot will be deemed
unsold.
Tracking Bids Online
The current bid and next valid bid shall be accurate at the time
of updating of those values from the auction room, provided
however that such information shall not reflect any changes that
may have occurred during the time taken for this information
to reach the bidder’s computer over the Internet. Due to the
nature of internet traffic, there is an unpredictable time-lag
between a bidder placing a bid, and that bid being received by
Saffronart. As a result, a user may have placed his/her bid prior
to the lot being closed by the auctioneer in the saleroom, but
the bid is received by Saffronart after the closing of that lot - and
would therefore be rejected. An online bid from a bidder will
be prioritized against other online bids at the same bid level in
chronological order with the earliest bid received by Saffronart
being considered for acceptance by the auctioneer. Please note
that the auctioneer has complete discretion on whether to
accept an online bid or a room or telephone or written bid at
any given time.
Currency of Bidding and Special Lots
All bids in this auction must be placed in Indian Rupees (INR). However, only buyers located in India may pay for their purchases in INR at the close of the auction. All other buyers will be invoiced in USD based on the exchange rate set by Saffronart for this auction, and must complete payment in USD.
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.
Saffronart 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 upon request by email, fax, or telephone.
Buyers’ Premium
Saffronart charges the buyer a premium on the winning bid
value. The buyers’ premium is calculated at 20% of the winning
bid value on each lot up to and including US$ 200,000/-, 15%
of the winning bid value in excess of USD 200,000/- up to and
including USD 500,000/- and 12% of the winning bid value in
excess of USD 500,000. As an example: For a winning bid value
of US$ 200,000, the buyer’s premium applicable will be US$
40,000; for a winning bid value for US$ 500,000, the buyer’s
premium applicable will be US$ 85,000 – calculated as US$
40,000 (20% of US$ 200,000) plus US$ 45,000 (15% of US$
300,000); for a winning bid value of US$ 600,000, the buyer’s
premium applicable will be US$ 97,000 – calculated as US$
40,000 (20% of US$ 200,000) plus US$ 45,000 (15% of US$
300,000) plus US$ 12,000 (12% of US$ 100,000).
Completing the Purchase
If you win a bid, you will be sent an email after the close of
the auction, which will contain an invoice for the winning bid
and an invoice for the Buyer’s Premium (with payment options
specified). 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 Saffronart.
Please note that purchases will not be shipped out until payment
has been received and cleared
Invoicing
Bidders are required to provide all invoicing details to
Saffronart prior to the sale at the time of registering for the
auction as no invoices will be changed after the sale and the
bidder as registered with Saffronart will be invoiced. After the
sale, the Buyer as invoiced is required to pay the amounts in
full (including the additional charges). No shipment or delivery
will be made if this amount is not received or until all proper
documentation is completed. No payments will be accepted
from any other parties other than the Buyer mentioned on the
invoices.
Shipping and Insurance
Price estimates do not include any packing, insurance, shipping
or handling charges, all of which will be borne by the buyer.
Shipping will be charged on courier rates and are determined
by the value, origin and destination of the package.
Origin of Shipments
Please note that all lots in the auction will be shipped to the
buyer from Mumbai.
Duties & Taxes
All duties and taxes, wherever applicable, shall be borne by the
buyer.
Domestic Deliveries in India
Any sale of lots originating from Saffronart Mumbai to an
address in India is subject to a 12.5% VAT on the winning bid
value and a 12.36% Service Tax on the buyer’s premium (e.g.
a 20% buyer’s premium would attract Service Tax amounting
to 2.472% of the winning bid value). A CST of 2% instead of
the 12.5% 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 Maharashtra, and the buyer
provides the necessary documentation required by the Sales Tax
authorities. The Service Tax on the buyers’ premium will still
apply at 12.36%. The final charges will be determined at the
close of the auction and will be sent by email to the winning
bidder.
International Shipments (other than to India)
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 Saffronart for further details.
International duties
Please read below for a recent change in Saffronart policy with
regard to International duties: 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.
Import Restrictions
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.
Payment
Buyers will be required to complete payment within a period of
7 business days from the receipt of the invoice via email.
Payments may be made in INR, or for non-Indian buyers, in
USD
For payments from NRE accounts 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.
The service tax at 12.36% on buyers’ premium would apply in
this case.
Cheque/Demand Draft to be made in favour of:
Saffron Art Private Limited
Payable at: Mumbai
Please send the draft/cheque to the address below, or at
your convenience, to the Saffronart New York address listed in this catalogue:
Saffron Art Private Limited
Industry Manor, 3rd floor
Prabhadevi, Mumbai 400 025
India
Wire Transfer:
Details available upon request.
Delivery/Collection of Purchases
Purchases are typically shipped out within 7 business days of
the payment being cleared and are insured under the terms of
Saffronart’s 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. If
the Buyer wants to appoint a logistics agent (on their behalf)
for shipment then the documentation supporting the shipment
will be generated by Saffronart. If the documentation is not
completed to the specified requirements then the buyer will
be liable for any duties or taxes that might be levied by the
authorities on the transaction.
Buyers may choose to collect their purchases from the Saffronart
office in Mumbai. In such cases, buyers are requested to make
an appointment to collect purchases within 7 business days of
completion of all payments and documentation formalities.
Storage and Demurrage
The buyer shall ensure that all payment formalities are
completed within seven business days of the receipt of the
invoice. In case payment is not received within such period, this
shall be treated as a breach of contract and Saffronart may take
any steps (including the institution of legal proceedings), which
appear to Saffronart to be appropriate to enforce payment by
the buyer. The Buyer will also be charged demurrage @ 1% per
month on the value of the lots.
Buyers who have completed payment formalities and have not
taken delivery of their lots from Saffronart within 30 days of the
completion of payment formalities will be charged demurrage
@ 1% per month on the value of the artworks.
Receipt of Purchases
All purchases from this sale are final. In the unlikely event of
your receiving a damaged product, please notify Saffronart
directly within five days of receipt of the lot. Please call us at
+91 (0) 22 2432 2898, to report the damage or send a fax to
+91 (0) 22 2432 1187 or email us at [email protected].
If Saffronart 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.
Participate in our next auction
If you are interested in consigning works from your collection to our next
sale, please contact us at [email protected] or at the
auction help desk +91 (0) 22 2432 2898.
If you would like to stay informed of Saffronart's upcoming events, please
register with us online at www.saffronart.com