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the 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.
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 4 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
MobileApp
: Bidders may download
the
MobileApp
onto their eligible mobile device
and use it to place 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
is not executed or executed incorrectly through
the
MobileApp
.
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: All bids may only be placed in
Indian Rupees (INR). The foreign currency exchange
rate used on the
Website
for invoicing of non-India
based bidders is United States Dollars (USD), and for
all other auction-related purposes, has currently been
set at 1:66 (USD:INR), and will be constant during
the auction. Before the start of the auction,
We
may,
at
Our
sole and absolute discretion, change the
exchange rate used, based on fluctuations in market
exchange rates.The estimates for individual properties
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
the
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
TechnicalDowntime
. Online ormobile 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 the
Website
,
through the
MobileApp
or in the sale room.
5.11
Our
auctioneer may place bids on behalf of seller
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 the 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 or exchange rates.
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 andmobile 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 the
Website
at all times,
including 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 The title to all
Lots
shall pass from the seller to the
winning bidder outside the territory of the United
States of America.
6.3 The title to all
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,
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 In relation to
Lots
that are
Antiquities
, 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,