144-145 / 168
144
145
will be determined at the close of the auction and will
be sent by email to the winning bidder.
(ii) International shipments for lots originating in India
For lots originating from India, a 15% Service Tax
on the Buyer’s Premium is applicable. 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.
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.
(iii) Shipments and Deliveries for Lots originating
outside India (lots marked with the symbol )
These lots have been imported into India, and
in order to remove the lots from a Free Trade
Warehousing Zone and into Indian free circulation
for deliveries within India, a customs duty at 10.3%
will be added to the hammer price. The applicable
VAT/CST as mentioned above will be charged on
the amount inclusive of the hammer price and the
duty.
In the event that the lot is tobe shipped internationally,
additional charges for international shipments
mentioned in the above section shall apply.
A15%Service Tax on the Buyer’s Premium is applicable
on these lots.
Please Note: 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.
How do I make payment?
Buyers will be required to complete payment within a
period of 7 business days from the receipt of the invoice via
email. If you have not received your invoice within 48 hours
of the close of the sale, please contact us.
For Buyers in India
Payment can be made in INR only by the following
acceptable modes of payment:
(i) Cheque/Demand Draft: To be made in favour of
Saffron Art Private Limited
(ii) RTGS/NEFT: Details will be included with the
invoice and available upon request
(iii) Credit card: up to INR equivalent of USD 5,000
For Buyers outside India
Payment can be made in USD only by the following
acceptable modes of payment:
(i)
Cheque: To be made in favour of Saffron Art
Private Limited
(ii) Direct wire transfer: Details will be included with
the invoice and available upon request
(iii) Credit card: up to USD 5,000
(iv) Payment from an NRE account: 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
When will my purchases be delivered/can I collect my
purchases?
Purchases shipped out within 10 - 15 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.
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 10 - 15 business days of completion of all payments
anddocumentation formalities. Buyerswhohave 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 at 1% per
month on the value of the artworks.
What documentationwill I receivewithmy purchases?
Upon confirmation of delivery or receipt of shipment, we
will send you the invoices for your purchases along with
any relevant documentation for the lot that has been
mentioned in the lot details. Please note that Saffronart
does not issue any authenticity certificates and does not
provide artist authenticities either.
What if my shipment reaches damaged?
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 or
email us at any of our locations mentioned in the Sales
and Enquiries section. 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.
What are some of the symbols used next to the lots
in auction?
(i) 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.
(ii) Lots marked with have been imported into
India, and in order to remove the lots from a
Free Trade Warehousing Zone and into Indian
free circulation, a customs duty at 10.3% will
be added to the hammer price. The applicable
VAT/CST will be charged on the amount
inclusive of the hammer price and the duty.
How do I participate in your next auction?
If you would like to register to bid or consign to any of our
upcoming auctions please contact any of our locations
listed in the Sales and Enquiries section.
If you would like to stay informed of Saffronart’s upcoming
events, please register with us online at
saffronart.com