Page 120 - Heirloom Collectibles Antiques & Silver

GENERAL TERMS EXTENT OF ASTAGURU’S LIABILITY

• By participating in this auction, you acknowledge that you are • The Auction House Margin shall be calculated at 18% on the • AstaGuru has to obtain the money from the source and refund the same is limited for a period of one month from the date
bound by the Conditions for Sale listed below and on the website hammer price. to the buyer the amount of purchase value in case the work is of the auction of the lots.
www.astaguru.com • Foreign currency exchange rates during the auction are not authentic. • AstaGuru is not liable for any claims on insurance.
• Securing the Winning Bid results in an enforceable contract made on a constant of $ as per converted in the catalogue. • All damages and loss during transit must be covered by the • AstaGuru is not liable in case the website has any technical
of sale. • All invoicing details should be provided by the buyer prior to insurance policy, AstaGuru will not be liable. problems.
• AstaGuru is authorized by source to display at AstaGuru's the auction. • AstaGuru or any member of its team is not liable for any • If any part of the Conditions for Sale between the Buyer
discretion images and description of all lots in the catalogue • All payments shall be made within 7 days from the date of mistakes made in the catalogue. and AstaGuru is found by any court to be invalid, illegal or
and on the website. the invoice. • The description and additional information provided by unenforceable, that part may be discounted and the rest
• AstaGuru can grant, record and reject any bid. • In case payment is not made within the stated time period, it AstaGuru in the catalogue is to our best opinion, however of the conditions shall be enforceable to the fullest extent
• Bidding access shall be given at AstaGuru's discretion. shall be treated as a breach of contract, AstaGuru shall take we have not undertaken a comprehensive research exercise permissible by law.
• AstaGuru may request a security deposit to be made in H or any steps including the institution of legal proceedings. and therefore potential buyers are encouraged to gauge and • The said named Owner being the principal is the sole,
consult with professional advisors of their preference.
its equivalent in $ (in the event the buyer is a non-resident). • AstaGuru will charge a 2% late payment fine per month. absolute and rightful owner of the ARTWORK(S) and is
The tier based bidding limit corresponding to security deposit • If the buyer wishes to collect the property from AstaGuru, • If any discrepancy with regards to description and additional able to transfer good and marketable title over the
are as the following: it must be collected within 30 Days from the date of the information occurs AstaGuru/AstaGuru Team Members are ARTWORK(S) to AstaGuru, free from any liens,
not liable for the same.
Security Deposit Bidding Limit auction. The buyer shall be charged a 2% storage fee if the • AstaGuru’s liability with regards to authenticity is limited to encumbrances, unpaid taxes or dues or charges. There
are no legal proceedings pending in respect of the
` 2,00,000 ` 20,00,000 property is not collectedon time. the values mentioned in Capital letters in the title heading ARTWORK(S) and the ARTWORK(S)is not the subject
` 3,00,000 ` 30,00,000 • AstaGuru is the sole authority to award theWinning Bid to the section of the Lot. Furthermore the AstaGuru’s liability for matter of any dispute.
` 5,00,000 ` 50,00,000 Bidder with the highest Bid at the end of the auction, and
` 10,00,000 ` 1,00,00,000 AstaGuru is also the sole authority to nullify the same if it
deems it necessary.
• AstaGuru may review bid history of specific lots periodically • In an unlikely event of any technical failure and the website
to preserve the efficacy of the auction process. is inaccessible, the lot closing time shall be extended.
• AstaGuru has the right to withdraw a lot before, during or after EXTENT OF THE BIDDER’S LIABILITY
the bidding, if it has reason to believe that the authenticity of • Bids recorded prior to the technical problem shall stand
the Property or accuracy of description is in doubt. valid according to the terms of sale.
• Reserve price on lots are confidential. • All Lots are offered during the auction in its ‘present/current • The bidder must take the onus of inspecting the condition of the bidder placing the bid and it being received/registered
condition’, this implies and encompasses all existing faults
• AstaGuru shall raise all invoices including Auction House and imperfections. We encourage all potential buyers to and cross checking the descriptive information with regards by AstaGuru’s server. Although the bidder may have placed
Margin and related taxes. inspect each item carefully before bidding. to the lots prior to the auction schedule. a bid within the stipulated closing schedule, none the less
• The bidder must assert their decision based on their own AstaGuru receives the transmitted bid, post the closing
schedule the bid will be rejected under such circumstances.
judgment.
Therefore bidders are requested to update their account with
AUTHENTICITY GUARANTEE • In parity with the unpredictable nature of internet/Mobile the relevant Proxy Bid in order to safeguard any lag oriented
delays while placing individual bids.
App data network there may be a lag period between the time

• AstaGuru assures on behalf of source that all properties on the website are genuine works of the artists listed.
• However, in an unlikely event if a property is proved to be unauthentic to AstaGuru’s satisfaction within a period of 1 month from LAW AND JURISDICTION
the collection date, the seller shall be liable to pay back the full amount to the buyer. These claims will be handled on a case-by-
case basis, and will require that examinable proof which clearly demonstrates that the property is unauthentic is provided by an
established and acknowledged authority. Only the actual buyer (as registered with AstaGuru) can make the claim.
• The property when returned, should be in the same condition as when it was purchased. • The terms and conditions of this Auction are subject to the laws of India, which will apply to the construction and to the
• AstaGuru shall charge the buyer in case any steps are to be taken for special expenses that shall take place in order to prove the effect of the clauses. All parties are subject to the exclusive jurisdiction of the courts at Mumbai, Maharashtra, India.
authenticity of the property. • Under the circumstances that a legal notice has to be issued by AstaGuru, the modes to do so are as follows:
• In case the source fails to refund the amount, AstaGuru shall be authorized by the buyer to take legal action on behalf of the • I: Via an email to the registered email ID as per AstaGuru’s records.
buyer to recover the money at the expense of the buyer. • II: Via dispatch of a courier to the registered address as per AstaGuru’s records.