Page 7 - Heirloom Collectibles Antiques & Silver

BUYING AT ASTAGURU BUYING AT ASTAGURU

Bid History Invoicing
• Bid history indicates the value recorded for each lot since the start • All details for the invoice are to be provided prior to the auction
of the auction. accurately, in the online registration form.
• The bid history, current bid and countdown shall be accurate at the • After the sale, the Buyer as invoiced is required to pay the final purchase
price in full (including additional charges as may be applicable).
time of downloading/refreshing the page. • No lots shall be dispatched to the Buyer without receipt of payment
Estimates Absentee Bids • However, such information shall not reflect during the data in full by AstaGuru.
• Estimates are based on an average market value of the lot, • You may place an absentee bid, by faxing the written bid form transmission/processing period as to when the information is being
determined at AstaGuru’s discretion. available online and in the printed catalogue. relayed from the bidder’s computer to our server and vice versa. Shipping and Insurance
• These are provided only as a guide for Buyers. • All bids must come in 24 hours before the auction. • The most recent/updated bid values will reflect only when the • All packing, insurance, shipping or handling charges will be borne by
• Buyers should not rely on estimates as a prediction of actual price. Proxy Bids information on bid values is refreshed, which shall happen either the buyer.
Buyers are advised to carry out independent research. • You may place proxy bids on the website once the auction catalogue automatically, or when a bidder clicks on the “Refresh” icon on the • Unless the description of the lot stipulates otherwise, all purchased
• Estimates do not include margin, packing, insurance, shipping, goes live and will be available until the end of the auction. website/mobile App page. lots are framed and dispatched. However if the buyer prefers an
handling charges and any other taxes. • After the values on the page have been refreshed, any further alternative, the same may be implemented, at AstaGuru’s discretion
• Once you have identified the lot that you would like to bid on, click and at the buyers cost. AstaGuru will invoice the buyer for costs
Reserves on "Proxy bid" and enter desired amount (10% more than the “next progress with regards to the bid will reflect on the bid history page incurred in relation to the foregoing.
only once the bidder refreshes the page again.
• The Reserve price is the minimum price at which the lot shall valid” bid) and confirm your bid at the value submitted. • The page may also refresh automatically on the website. • Shipping charges are charged on courier rates and are determined
be sold. • Proxy bid placed on a lot before an auction cannot be resubmitted on basis of the size, weight and destination of the package.
• The Reserve price is confidential and will not be disclosed. online. Bidders can update such proxy bids by submitting a duly • Bid History will not be displayed once the auction has closed. • In case of international shipments the additional charges calculated
Margin signed written bid form provided on the website. Bid Extension are only till the destination port. Import-related duties, taxes delivery
• In addition to the hammer price, the buyer agrees to pay AstaGuru a • In case a bidder is outbid on their proxy bid, they will be intimated of • Bidding terminates for the specified lot groups in accordance with and any other charges, wherever applicable, will be directly paid by
the buyer.
margin calculated at [18%] of the winning bid value on each lot. the same and can update the proxy online if they wish to so. the bid closing schedule.
• For all lots, taxes are payable on the final price which includes the • AstaGuru reserves the right to reject any proxy bid at its discretion • In the event a bid is placed under three minutes from the closing Duties & Taxes
Auction House Margin at the applicable rate, included in the invoice. without having to provide any explanation. schedule of the lot, the closing time for that lot will be reset to three • All duties and taxes shall be borne by the buyer.
minutes. This process shall continue until there are no further bids
BIDDING Opening Bid placed under three minutes remaining for the end of the auction. • All sales in India shall attract the applicable GST on the winning bid,
including margin.
Pre-Registration and Verification • Opening Bid is the value at which the auction house starts the • Under such circumstances of closing extension, bidding on the • There shall be no GST on International sales.
• Prospective buyers should be registered and verified by AstaGuru in bidding of each lot. lot shall only end if no bid is recorded during the duration of the
order to bid. • Opening bid is 10% lower than value of the lower estimate. granted extension. Payment
• If you have already registered before, you will still need to login and Bidding Online • Bidders are advised to click on the ‘Refresh’ button icon on • Buyers will be required to complete payment of the final purchase
accept the terms and conditions for the sale. (Use your previous • Once you have identified the lot that you would like to bid on, click AstaGuru’s website page. price within a period of 7 business days from the receipt of the
Login ID). on "Bid" to confirm your bid at the value listed. • It is of utmost importance to ‘Refresh’ the website page at regular invoice via e-mail.
• Fill the form online in order to pre-register, or call AstaGuru. • You may participate in the bidding process, by entering the next intervals in order to ensure updates on the latest bids and time • Any delay in payment will be liable for a 2% interest charged
• Once you have pre-registered, a representative will call you to verify valid bid each time you are out-bid. extensions get corresponded effectively. per month.
your details. Currency of Bidding Refund Policy
• If the representative cannot reach you, an email will be sent. • In the event a bid is placed under three minutes from the closing • Bids can be placed in US Dollars ($) or Indian Rupees (H). • Security Deposit - If there has been no acquisition during the auction
• AstaGuru may (i) request a security deposit to be made in H or schedule of the lot, the closing time for that particular lot will be • Buyers in India must pay for their purchase in H and all other buyers a refund of the entire deposit amount is issued to the relevant
its equivalent in $ (in the event the buyer is a non-resident). The extended by three minutes. The extension will continue until such must pay in $. account within 15 working days.
tier based bidding limit corresponding to security deposit are as time that the last bid is not placed under three minutes from the • Security Deposit Adjustment - In case there has been an acquisition,
the following: closing time. Closing and Winning Bid the deposit amount will be adjusted with the total amount payable
• All lots bid history will be made available to be viewed for • Winning bid is the last and highest bid at which the lot has closed.
Security Deposit Bidding Limit valid bidders. • No new bids can be placed after the Winning Bid for the purchase.
` 2,00,000 ` 20,00,000 • The closing bid is considered the winning bid only if such bid exceeds • Please note once a lot(s) has/have been acquired the refund policy
Modes of Bidding is not applicable, furthermore there is no provision for cancelling
` 3,00,000 ` 30,00,000 the reserve price. the transaction.
• Online bidding access, access to bid through AstaGuru’s Mobile App • All winning bids shall be posted on the website after the close of
` 5,00,000 ` 50,00,000 and telephone bidding facility, shall be given at our discretion. the auction. Delivery / collection of purchase
` 10,00,000 ` 1,00,00,000 • We may set limits on the number of bids that may be made by • Purchased lots will be shipped within 7 days of the payment being
a bidder. Bid Cancellation cleared. Buyers may choose to collect their purchase from AstaGuru
(ii) please note if there has been no acquisition during the auction a • Bidders/Participants shall be informed of their bidding limits, • Once a bid / proxy bid has been placed, the Bidder cannot cancel in Mumbai within 7 days from date of the payment being cleared.
refund of the entire deposit amount is issued to the relevant account if applicable. it. AstaGuru reserves the rights to cancel any bid, as determined in • Buyers who have duly completed payment formalities, but have not
within 15 working days; (iii) in case there has been an acquisition, • Upon exhausting the respective bidding limit any further bid will be its discretion. taken delivery of their purchased lots from AstaGuru within 30 days
the deposit amount will be adjusted with the total amount payable restricted at AstaGuru’s behest. Margin of the date of payment will be charged interest @ 2% per month on
for the purchase; (iv) request additional information from the • In addition to the hammer price, a margin calculated at 18% of the the value of the lot.
bidders, including PAN and Aadhar details to verify any information Bid Increments winning bid value is added on each lot and is payable by the buyer,
in the registration form; (v) request any additional bank references • All bids will have an increment of 10% of the current valid bid. Once exclusive of packing, insurance, shipping, handling charges and any
or guarantees. the bid value exceeds the Rupees five crores (equivalent value $) the
• In case pre-registration has been applied on behalf of a corporate increment will be of 5%. taxes as may be payable.
entity upon the completion of verification all first time corporate After the Sale
users will require to update the relevant ‘Articles of Incorporation’ Personalized Bid Notifications • If you have won a lot you shall be informed via email after the auction
and ‘Memorandum of Association’. • By clicking on ‘My Bid Summary’, which is your personalized bid has closed.
• All bidders should obtain bidding access at least 24 hours before page, you may choose how frequent you would like to be notified of • You shall thereafter receive an email with the invoice stating the final
the auction. a change on your bid status. purchase price payable for the lot. PARTICIPATE IN OUR NEXT AUCTION
• Once your application for bidding access has been accepted you • You may also be notified on your registered email address and • If you are the winning bidder, you are legally bound to purchase the • If you are interested in selling works from your collection with
shall receive an email confirming your bidding access along with mobile number, if: lot from AstaGuru. AstaGuru, please contact us at contact@astaguru.com or at the
your login Id and password. • You are outbid on a particular lot; • No purchased lots will be shipped out until full payment has been auction help desk +91 22 22048139.
• AstaGuru reserves the right to give bidding access at its discretion. • You have won a particular lot in an auction. received and cleared by AstaGuru.