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 on 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 sold with 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?
Lots marked 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 Premium or 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. Shipping will 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 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 to be shipped internationally, additional
charges for international shipments mentioned in the above section shall
apply.
A 15% 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 and documentation formalities. Buyers who have 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 documentation will I receive with my 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