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FREQUENTLY ASKED QUESTIONS
How do I view the lots?
All lots for sale are featured in this 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)
Previews and Viewings – Details listed in the
Sales and Enquiries section of the printed
catalogue
(ii) The online auction catalogue available on
saffronart.com(iii) The printed auction catalogue
(iv) The mobile auction catalogue available for
download on your mobile device
What do you mean by ‘Condition of Lots’?
All lots will be shipped out in an ‘as is’ condition, meaning
that the item is soldwith 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 as a free service, online or
upon request by email, fax, or telephone.
What are special lots?
Lotsmarked as “Art Treasures” and/or “Antiquities” under the
Antiquities and Art Treasures Act, 1972 cannot be exported
outside India. Buyers are solely responsible for meeting the
requirements of the Antiquities and Art Treasures Act, 1972
or any related state legislation.
What are Price Estimates?
Each lot has a price range listed. These estimates are based
on characteristics of the lot such as condition, quality, rarity,
provenance. These estimates are provided only as a guide
for buyers and do not include Buyer’s Premiumor applicable
taxes. If applicable there is a link for pricing achieved for
similar art works at auction available next to the lot in the
online catalogue. Price estimates may be subject to revision.
What is a Reserve Price?
Unless stated otherwise, all lots offered in the auction are
subject to a reserve price, which 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. Reserve prices are confidential and will not be
disclosed.
How do I register to bid?
Bidders are advised to register at least 24 hours in advance
of the sale. Bidders may choose to register online or send
in their details to Saffronart and we will process the details
for you. Saffronart requires the following details from a first
time bidder to register and process an approval to bid:
(i) Name
(ii) Address
(iii) Telephone Number
(iv) Email Address
(v) Know Your Customer (KYC) documents
(vi) Credit card information/financial references/
deposits
In some cases, Saffronart may request for a bidding limit
value which is a per lot limit based on your current bid value.
If you have bid or been approved to bid with us before,
please use your Saffronart login and password to accept
the conditions for sale online. Collecting a paddle in a live
auction also implies an acceptance of the conditions for
sale. Please note the invoicing details provided at the time
of registration cannot be changed after the sale.
How do I Bid?
(i) 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 open 30
minutes prior to the sale.
(ii) 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 the auctioneer, it will be recorded.
(iii) Bidding on the Phone: Saffronart accepts requests
from bidders to place bids on the phone with our
staff depending on availability. To avail of this service,
you must be registered as a bidder. Please note that
the number of telephone lines available for telephone
bidding may be limited and this facility is provided at
Saffronart’s discretion.
(iv) Bidding on the Mobile: Bidders may download a
software application from Saffronart onto their
eligible mobile device and use it to place bids during
the sale. To avail of this service, you must be registered
as a bidder.
(v) Absentee/Proxy Bids: Bidders may place bids prior to
the sale either online or in writing by submitting the
absentee/proxy bid form. See the Absentee/Proxy Bid
Form available at the back of the printed catalogue,
or on the website. Absentee/proxy bids shall be
accepted up to a certain time prior to the sale which
will be listed online.
What are bid increments?
Any new bid must be greater than the current highest bid
by a minimum increment. The next valid bid amount is the
current highest bid plus the minimum increment value. The
auctioneer may vary the increments during the course of
the auction at his or her discretion. Online bids however, are
accepted only at the next valid bid based on the minimum
increment. Please refer to the bid increments printed at
the back of the catalogue (on the reverse of the Absentee/
Proxy Bid Form).
Can a bid be cancelled?
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.
What is the currency of bidding?
In a live auction in India, the currency of bidding is INR.
However, buyers with an invoicing address outside India
are invoiced in USD at the exchange rate fixed for the sale.
Please see the exchange rate section in our Conditions for
Sale online.
What is an Opening/Start Bid?
The opening/start bid is the value at which the auction
house starts the bidding on a particular lot.
When does a lot sell?
The fall of the auctioneer’s gavel shall mark the close
of bidding on each lot. The final bid announced by the
auctioneer is considered a winning bid in the sale, if the
auctioneer announces the lot as sold.
What is Buyer’s Premium?
Saffronart charges the buyer a premium on the winning bid
value. The Buyer’s Premium is calculated at the rate of 20%
of the winning bid value on each lot up to and including
INR 7,00,00,000; 15% of the winning bid value in excess of
INR 7,00,00,000 up to and including INR 12,00,00,000; and
12% of the winning bid value in excess of INR 12,00,00,000.
How will I be invoiced?
If you win a bid, you will be sent an email after the close
of the auction, containing an invoice for the winning bid
plus additional charges (shipping, handling, duties and
taxes as applicable) and the Buyer’s Premium plus service
tax at applicable rates. The invoicing details provided at the
time of registration will be used to raise the invoice and no
changes will be accepted after the sale.
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.
What are additional charges?
All post-sales expenses, including packing, insurance,
shipping or handling charges, are borne by the buyer.
Shippingwill be charged on courier rates and are determined
by the value, origin and destination of the package. Local
deliveries will be charged at actuals.
You may choose to make your own arrangements for
shipping and handling. However, all documentation
requirements must be complied with. Please contact us for
further details.
What are the Duties and Taxes applicable on my
purchase?
All duties and taxes applicable shall be borne by the buyer
and will depend on the value, origin and destination of the
package.
(i) Deliveries in India for lots originating in India
Any sale of lots originating from India to an address
in India is subject to a 13.5% VAT on the winning bid
value and a 15% Service Tax on the Buyer’s Premium. A
CST of 2% instead of the 13.5% 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 the location of the sale as mentioned in
the Sales and Enquiries section of the catalogue and
the buyer provides the necessary documentation
required by the Sales Tax authorities. The final charges