164-165 / 176
164
165
which are available with the Archaeological Survey of
India and also at the
Website
of the Archaeological
Survey of India
(www.asi.nic.in).
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 INR
7,00,00,000, (ii) 15% of the winning bid value in excess
of INR 7,00,00,000 up to and including INR 12,00,00,000,
and (iii) 12% of the winning bid value in excess of INR
12,00,00,000. Service tax applicable on the
Buyer’s
Premium
shall be payable by the winning bidder.
6.6 The winning bidder shall be invoiced based on 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 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 Thewinning bidder shall pay the sale price and
Buyer’s
Premium
in full (including the applicable taxes, such
as VAT and/or service tax, and other charges, if any)
within 7 (seven) business days fromthe date of invoice.
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.
6.8 The winning bidder acknowledges that
We
will abide
by any export restrictions that may apply in the
countries from where specific
Lot(s)
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(s)
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.
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 the
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 (seven) 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
) per month till the date of
actual payment.
6.11 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 demurrage @ 1% of the total
value (sum of winning bid and
Buyer’s Premium
) per
month (if applicable) and the charges for storage of
the
Antiquity
, if any.
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
Lot
even if such
other attribute is in all capital letters.
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 scientificmeans 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 the winning
bidder’s 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