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CONDITIONS FOR SALE
These conditions for sale set out the terms on which
We
offer
the
Lots
listed in this catalogue for sale on behalf of the seller,
and if you make a successful bid, will form a contract for sale
between you and the seller.
By participating in this auction, you acknowledge that you
are bound by these conditions for sale as listed below and
on
Our
website
saffronart.com. You will find a glossary at the
end explaining the meanings of the words and expressions
which have been capitalised.
1.
Our
role as the agent of the Seller:
1.1
We
undertake to sell properties through this auction
as agents for and on behalf of sellers. Unless stated
otherwise,
We
have no ownership interest or any other
financial interest in any of the
Lots
.
1.2 Making a bid by raising one’s hand or paddle in the
auction room, submitting an absentee/proxy bid,
communicating a bid over the telephone to
Our
representative or bidding on
Our
website and/or
through the
MobileApp
constitutes an irrevocable
offer to purchase a property, and the acceptance of a bid
as the winning bid by
Us
shall result in an enforceable
contract of sale between
Us
, acting solely as the agent
of the seller, and the winning bidder.
2. Catalogue Descriptions and Condition of Property
2.1
We
offer all properties for sale at the auction on an
“as is” basis, meaning that each property is sold with
all existing faults and imperfections.
We
encourage all
potential buyers to inspect each item carefully before
bidding.
2.2 Size description/s of all the
Lots
featured in the
Auction
Catalogue
are approximate.
We
encourage all potential
buyers to inspect each item carefully before bidding.
2.3 Any statements made by
Us
, including by
Our
representatives/employees, about any property,
whether orally or in writing, concerning attribution
of such property to, for example, any school of art or
craftsmanship, country or origin, history, provenance or
condition, are only expressions of
Our
opinion or belief.
Such opinions or beliefs have been formed honestly
in accordance with the standard of care expected of
an auction house, having due regard to the estimated
value of each property.
We
have not carried out any
exhaustive research or analysis on any property to be
sold in this auction, and potential buyers should seek
appropriate advice on the condition of each property
from their own professional advisors.
2.4 For the convenience of bidders,
We
provide condition
reports on properties upon request free of charge. The
report includes
Our
bona fide opinion on the condition
of the property and is not an alternative to viewing
and inspecting a
Lot
by a bidder, or a bidder’s duty to
seek independent advice on the property, including its
description, condition and authenticity.
2.5 The bidders undertake to:
(i) inspect and satisfy themselves prior to the
auction as to the condition and description of the
property;
(ii) rely on their own judgment as to whether the
property matches its description; and
(iii) not rely on an illustration of any property given in
the
Auction Catalogue
.
2.6 Neither
We
nor any of
Our Affiliates
, agents,
representatives, employees or directors shall be liable
for errors or omissions in any of the representations
made in the
Auction Catalogue
or otherwise, with
respect to the authenticity, description or condition of
any property for sale through this auction.
3. Viewing the
Lots
and Bidder Registration
3.1 All
Lots
for sale are featured in the
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;
(ii) the online
Auction Catalogue
;
(iii) the printed
Auction Catalogue
; and
(iv) the mobile
Auction Catalogue
.
3.2
We
may withdraw any property before, during, or
after the auction, if
We
have reasons to believe that
the authenticity of the property or the accuracy of the
description of the property 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 property in the auction.
3.3 All properties shall be sold subject to the
Reserve
Price
. If the winning bid is below the
Reserve Price
, the
property shall be considered unsold. The
Reserve Price
on each property shall be confidential and
We
shall
have no obligation to disclose the same to any bidder.
3.4
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.
3.5
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.
3.6 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.
3.7 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.
4. Bidding
4.1
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.
4.2 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.
4.3 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.
4.4 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 3 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.
4.5 Bidding on the Mobile Application: Bidders may
download
Our
software application 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 3 above.
We
do not accept any liability in the unlikely event that a
mobile bid is not executed or executed incorrectly.
4.6 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.
4.7 Currency of Bidding: All bids may only be placed in
Indian Rupees (INR). The foreign currency exchange
rate used on
Our
website for invoicing of non-India
based bidders in United States Dollars (USD), and for
all other auction-related purposes, has currently been
set at 1:67 (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.
4.8
Technical Downtime
: In the unlikely event that
Our
website or mobile application 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
Technical
Downtime
. Online or mobile 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.
4.9 Mobile and Internet Networks: Due to the nature
of mobile and internet traffic, there may be an