1. DEFINITIONS
"Affiliates" means Saffron Art Private Limited, Planet
Saffron Inc., Planet Saffron Management Co., LLC and their holding or subsidiary
companies as on the date of the Auction.
"Auction" means an auction of
Property/Lot to be conducted by Saffronart on the Website on the date indicated
in the Auction Catalogue.
"Auction Catalogue" shall refer to the
catalogue published by Saffronart, whether in print, on the Mobile Application
or on the Website and shall include the Print Auction Catalogue, the MobileApp
Auction Catalogue the Online Auction Catalogue and the eCatalogue in respect of
an Auction, containing details of the Auction along with the Description, price
and other details of Properties to be offered for sale at such Auction. In case
of any discrepancy between the Print Auction Catalogue, the MobileApp Auction
Catalogue, the Online Auction Catalogue and/or the eCatalogue, the Online
Auction Catalogue, as modified by Saffronart from time to time, shall take
precedence.
"Bid" means the price offered by a Bidder to purchase a
particular Property offered for sale at an Auction.
"Bidder" means a
person making a Bid for the purchase of one or more Properties offered for sale
at an Auction in accordance with the terms and conditions set out in the
Conditions for Sale and such person shall be required to be entitled to enter
into contracts under applicable law.
"Bid Closing Schedule" shall be the
schedule specifying the closing times for bids for each Lot to be sold through
the Auction as specified in the Auction Catalogue
"Buyer" means the
Bidder making the Winning Bid in respect of a Property(ies) and who has agreed
to pay/ has paid both the Sale Price and the Buyers' Premium payable in respect
of such Property(ies).
"Buyers' Premium" means the amount charged by
Saffronart from a Buyer for services rendered by it, in accordance with the
Conditions of Sale, in connection with the purchase of Property by the
Buyer.
"Closing Date" means the date specified in the Bid Closing
Schedule on which the Auction closes.
"Closing Time" means the time at
which the Auction for any of the Lot Groups listed in the Bid Closing Schedule
closes.
"Conditions for Sale" means these Terms and Conditions published
in any of the Auction Catalogues which shall be applicable to every Bid and
every sale of Property made through an Auction. In case of a conflict between
the Terms and Conditions published in the Online Auction Catalogue and in the
Print Auction Catalogue or eCatalogue, the Online Auction Catalogue version, as
modified by Saffronart from time to time, shall take
precedence.
"Description" means all the details of a Property as set out
in the Auction Catalogue and may include, without limitation, the name of the
artist, author, designer or manufacturer, the title of the Property, and the
following additional details:
For artworks: the signature of the artist/
date of the Property (if any), the surface, medium, edition number wherever
applicable)and dimensions of the Property.
For Precious Objects and other
properties: any other features or characteristics of the Property mentioned in
the Auction Catalogue.
Prospective Bidders using the Mobile Application
are advised to refer to the Online Auction Catalogue, the Print Auction
Catalogue or the eCatalogue for the complete Description as all details may not
be made available/accessible through the Mobile App Auction
Catalogue.
eCatalogue refers to an electronic reproduction of the Print
Auction Catalogue that may be made available on the Website for certain
auctions.
"Lot Groups" means the Properties grouped together for Auction
closing at a particular time.
"Mobile Application" means Saffronart's
proprietary software application, as updated from time to time, and available
for download from the Website for the purpose of viewing the MobileApp Auction
Catalogue, placing Bids, viewing Auction results, and accessing other
information related to Saffronart and the Auction.
"MobileApp Auction
Catalogue" refers to the screens within the Mobile Application relating to the
Auction, as may be amended from time to time.
Notices refers to
information included in the Auction Catalogue by Saffronart whether in print or
online or on the Mobile Application - to correct errors and omissions in the
Auction Catalogue. These are provided for the bidders convenience however the,
the Online Auction Catalogue as modified by Saffronart from time to time, shall
take precedence in all cases of discrepancy.
Online Auction Catalogue
shall refer to the web pages on the Website relating to the Auction, as may be
amended from time to time and shall include web pages accessible via the link
Auction Catalogue (including all pages providing details related to the
Properties) as well as additional pages containing details of the Auction such
as Sale Guide, About the Auction, Conditions for Sale, Notices,
etc.
Precious Objects means jewelry, watches, loose precious stones and
any other objects offered for sale within the context of an Auction comprising
jewelry as the majority of Lots
Print Auction Catalogue refers to the
printed version of the Auction Catalogue.
"Property/Lot" means the
artwork, Precious Objects and any other objects offered by Saffronart for sale
either individually or collectively (as a single unit) through the
Auction.
"Reserve Price" means the minimum price that the Seller has
communicated to Saffronart as being acceptable for the sale of the Property
through an Auction.
"Saffronart" means Saffronart Management Corporation
acting either on its own behalf or as a representative of any of its
Affiliates.
"Saffronart Server" means the computer(s) that provides other
computers with access to resources shared on computer networks including
Saffronart data, application files and printers.
"Seller" means the party
consigning the Property to Saffronart as its agent for sale through
Auction.
"Technical Downtime" means the time period during which the
Saffronart Server or the Website is not in operation due to a
malfunction.
"Terms of Business" means the terms of business executed
between Saffronart and the Seller.
"Website" means the collection of HTML
and/or internet data and media located at the URL www.saffronart.com and/or any
other URL linked to the Website.
"Winning Bid / Sale Price" means the
highest Bid offered in respect of a Property at the Closing Time, which Bid
shall be either be equal to or higher than the Reserve Price.
2. GENERAL
TERMS
By participating in this Auction, you acknowledge that you are
bound by the Conditions for Sale as listed below and on the Website.
2.1.
Saffronart's role as the agent of the Seller: Saffronart undertakes to sell the
Properties through the Auction as the agent for and on behalf of the Seller.
2.1.1 All lots in this auction are offered without a Reserve
Price.
2.2. Making a Bid constitutes an irrevocable offer to purchase the
Property and the acceptance of a Bid as the Winning Bid by Saffronart shall
result in an enforceable contract of sale between Saffronart, acting solely as
the agent of the Seller, and the Winning Bidder.
2.3 Saffronart is
authorised by the Seller to exercise its complete discretion in: (i) determining
the form and content of the Descriptions in the Auction Catalogue, (ii) granting
bidding access to a Bidder, (iii) recording, rejecting or accepting Bids, and
(iv) deciding which Bid constitutes the Winning Bid, if any.
Bidding
access shall be given at Saffronart's discretion and Saffronart may set limits
on the number of Bids that may be made by a Bidder and/or require payment
guarantees or deposits as a condition precedent to giving bidding access to a
Bidder. Bidders will be informed of the limits on the number of Bids they may
make, if any, and will not be allowed to bid further if their bidding limit has
been exhausted. Bid updates and time extensions, if any, shall be updated on the
Website and Mobile Application. On the Website, Bidders may refresh their
bidding pages by clicking on the click to refresh immediately link or the
re-load/refresh buttons on their browsers, to view latest bid updates and time
extensions, if any. On the Mobile Application, Bidders may select the Refresh
menu item to view latest bid updates and time extensions. Saffronart shall
evaluate the bid histories of specific Lot Groups periodically to preserve the
efficacy of the Auction process. This exercise may be conducted by Saffronart
internally or through third parties solely at the discretion of
Saffronart.
2.4. For the convenience of Bidders, in particular Bidders
who are placing Bids on more than one Lot, Lot Groups are scheduled to close at
different times during the Auction. Lot Groups will close at 20 minute time
intervals.
The Bidding for various Lot Groups shall be closed in
accordance with the Bid Closing Schedule. However, in the event that a Bid is
recorded by Saffronart in the 2 minutes prior to the Closing Time of the Lot,
the Closing Time for such Lot shall be extended to a time that is 2 minutes
after the time that the last Bid was made. In the event of extension of Closing
Time in accordance with this Clause, bidding on the Lot shall only end if no Bid
is recorded by Saffronart for a continuous period of 2 minutes. Bidders are
advised to click on the click to refresh immediately link on the Website page
being viewed by them or on the Refresh menu item in the Mobile Application at
regular intervals in accordance with the provisions of Clause 2.5 for updates on
latest Bids and time extensions if any.
2.5 Tracking Bids
a. The
Website shall also contain a link titled "My Bids " within the page My Auction
and the Bidder may click on this link to access information on all Bids made by
the Bidder in respect of various Lots. For ease of tracking Bids, Bidders are
advised to assign bidding nicknames to themselves.
b. The Website and
Mobile Application shall contain:
i. the Bid history for each Lot, being
the Bid amounts that have been recorded since the start of the Auction till the
current highest Bid; and
ii. a countdown clock indicating the amount of
time available for placing Bids before the Closing Time.
c. The Bid
history, current Bid and countdown clock shall be accurate at the time of
downloading of those values, provided however that such information shall not
reflect any changes in the Bid history, current Bid and/or countdown clock that
may have occurred during the time taken for this information to reach the
Bidder's computer or mobile device from the Saffronart Server. The most updated
Bid values shall be shown only when the page on the Website containing the
information on Bid values is refreshed, which shall happen either automatically
at regular intervals on the Website (indicated at the top of the page), or when
a Bidder clicks on the click to refresh immediately link on the Website page, or
on the "refresh" or "reload" button on his/her internet browser, or on the
Refresh menu item in the Mobile Application. After the values on the page have
been refreshed, any changes in the Bid history shall not be visible to the
Bidder until the values are refreshed again whether automatically on the Website
or by the Bidder. Note that there is no automatic refreshing of values in the
Mobile Application and the Bidder must use the Refresh menu item to obtain
current values.
d. When the countdown clock counts down to zero, in the
case where the Closing Time in respect of a particular Lot has been extended by
a further two minutes pursuant to Clause 2.4 above, the countdown clock may not
reflect such extension. The Bidder may wait for the values on the page to
refresh automatically on the Website, or click on the click to refresh
immediately link on the page, or on the refresh or reload button on his/her
internet browser, or on the Refresh menu item in the Mobile Application after
the countdown clock has counted down to zero to determine whether the Closing
Time has been extended for that lot.
e. The countdown clock combined with
the current highest Bid as shown on the Bid history on the Website shall only be
an indication of the highest Bid amount at the time when the values on the
Website or Mobile Application were refreshed in the manner set out in Clause 2.5
(c) above. Should bidders want more frequent updates, they are advised to
refresh values as described in Clause 2.5(c) in order to view the most updated
Bid history and countdown clock.
f. Due to the nature of internet and/or
mobile traffic, there may be an unpredictable time-lag between a Bidder placing
a Bid, and that Bid being received by Saffronart. Therefore, although a Bidder
may have placed his/her Bid prior to Closing Time, the Bid may be received by
Saffronart after the Closing Time for the Lot in respect of which the Bid has
been placed and shall, in such an event, be rejected. In order to prevent Bids
being rejected in such a manner, Bidders may set proxy Bids/automatic Bids on
Lots which the Bidder wishes to Bid for. Proxy Bids may be recorded with
Saffronart 12 hours prior to Closing Time, subject to the other provisions of
these Conditions for Sale, including any limits imposed by Saffronart on the
number of Bids that a Bidder may place.
2.6. Bidders are advised to keep
their login ID and password secure at all times. Saffronart will hold the Bidder
responsible for all bids placed using their login ID and password, whether via
the Website or a mobile device. Bidders using the Mobile Bidding Application are
advised to keep their mobile devices secure and set passwords for them to
prevent unauthorized use.
2.7. Saffronart reserves the right to withdraw
any Property before, during or after the Auction, if it has reason to believe
that the authenticity of the Property or the accuracy of the Description is in
doubt, or if there is a breach of the Terms of Business, or if Saffronart
otherwise believes, in its sole discretion, that it would be improper to include
the Property in the Auction.
2.8. 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. However, in this auction, Lots are not subject to
Reserve Prices.
2.9. Saffronart will raise invoices on the Buyer for the
Sale Price and Buyer's Premium, applicable taxes on sale of Properties and other
additional charges that may be incurred by Saffronart, if any, including
shipping and handling of the Property and additional levies.
2.10. The
title to the Property shall pass from the Seller to Saffronart outside the
territory of the United States of America.
2.11 In respect of each sale
at the Auction, Saffronart shall charge a Buyers’ Premium calculated at the rate
of 20% of the Winning Bid up to and including USD 200,000/-, 15% of the winning
bid value in excess of USD 200,000/- up to and including USD 500,000/- and 12%
of the Winning Bid in excess of USD 500,000/-. Service tax applicable on the
Buyers’ Premium for deliveries, if within India, shall be to the account of the
Buyer.
2.12. The foreign currency exchange rate used is constant during
the Auction, and has currently been set at 1:52 (USD: INR). Prior to the start
of the Auction, Saffronart may at its discretion change the exchange rate used,
based on fluctuations in market exchange rates. Please refer to the Conditions
for Sale for this Auction posted in the Online Auction Catalogue for the most
current exchange rate. 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.
2.13. All Bidders are required to provide
complete and accurate invoicing details to Saffronart at the time of
registration for the Auction and invoicing details once registered will not be
changed. The Bidder shall be invoiced based on details provided at the time for
registering for the Auction.
2.14. The Winning Bidder shall pay the Sale
Price and Buyers Premium in full (including the applicable taxes and other
charges, if any) within seven business days from the Closing Date. No shipment
or delivery of the Property will be made to the Winning Bidder if the Sale Price
and Buyers Premium (including the applicable taxes and other service charges, if
any) are not received by Saffronart and until all proper documentation in
connection with the sale of the Property has been completed. Payments will not
be accepted from any parties other than the Winning Bidder as recorded on the
invoice.
2.15. Non payment: The Winning Bidder shall ensure that invoices
raised by Saffronart are paid in full and all remittance of amounts due under
the invoice is made within seven business days from the date of the invoice. In
case payments are not received within such period, this shall be treated as a
breach of contract of sale by the Buyer and the Seller may, in such an event,
authorize Saffronart to take any steps (including the institution of legal
proceedings), as it may deem to be appropriate to enforce payment by the Buyer.
In addition, the Buyer will be charged demurrage @ 1% of the total value
(Winning Bid plus Buyers Premium) per month till the date of actual
payment.
2.16. Failure to collect: If the Buyer informs Saffronart that
he wishes to collect the Property from Saffronart in person and such Property is
not collected by the Buyer within 30 days of the payment formalities being
completed, Saffronart shall arrange for storage of the Property at the Buyers
expense, and shall only release the Property after payment has been made, in
full, of the Sale Price and Buyers Premium including demurrage @ 1% of the total
value (Winning Bid plus Buyers Premium) per month (if applicable) and the
charges for storage of the Property, if any.
2.17. Saffronart shall be
entitled to exercise a lien on the Property for payment of any sums due to it
from the Buyer, including the Sale Price, Buyer's Premium or costs relating to
storage and insurance where they are to be borne by the Buyer, in relation to
any Property purchased by the Buyer.
2.18. Saffronart reserves the right
not to award the Winning Bid to the Bidder with the highest Bid at the Closing
Date if it deems it necessary to do so.
2.19 The Buyer acknowledges that
Saffronart will abide by any export requirements that may apply in the countries
from where specific Properties will be shipped. The Buyer shall also be
responsible to ensure that the Property(s) is freely importable into his country
or to the country where the destination for delivery (as specified by the Buyer)
is located. In the event of the Buyer or Saffronart becoming aware of any
restrictions to such import subsequent to the completion of the Auction the
Buyer may provide an alternate delivery destination to Saffronart. All costs
associated with the process of delivery and storage (when required) of the
Property shall be borne by the Buyer. The Property(s) shall be handed over to
the Buyer or his nominee only upon full payment of all such costs.
2.20.
Saffronart has the right to exercise reasonable discretion in setting bid
increments, refusing any bid, advancing the bidding, withdrawing or dividing any
lot, combining any two or more lots; and in the case of error or dispute, during
or after the sale, determining the successful bidder, continuing the bidding,
cancelling the sale or reoffering and reselling the item in dispute. If any
dispute arises after the sale, then, in the absence of any evidence to the
contrary the sale record maintained by the auctioneer will be
conclusive.
2.21. Written Bids are accepted from Bidders once they have
been given bidding access for the Auction. These are entered as proxy Bids, and
may be stopped or altered by the Bidder once the Auction has commenced. Written
Bids are accepted until twelve hours prior to the first Closing
Time
2.22. Saffronart employees may not bid in the Auction once the
Auction has started. They may however submit a written Bid for a Lot before the
Auction commences and have a proxy Bid placed on their behalf. Once the Auction
has begun, they may not increase their proxy Bid or alter it in any
way.
2.23. Saffronart employees may bid in charity auctions that are held
on the Saffronart Auction platform.
2.24. Sellers are automatically
blocked from bidding on the particular Lot(s) they have consigned.
2.25.
The Saffronart Auction platform does not allow any Bids to be placed by
Saffronart on behalf of the Seller. All of the Bids recorded at Saffronart are
from registered Bidders.
2.26. Once a Bid is registered in our system,
whether placed by an active Bidder or by proxy, it is immediately and
automatically displayed for all registered users to see.
2.27. Technical
Downtime - In the unlikely event that the Website is inaccessible to Bidders
worldwide due to Technical Downtime at any time during the half an hour prior to
the scheduled Closing Time of the Auction for any of the Lot Groups, the Closing
Time of that Lot Group and subsequent Lot Groups will be extended by the
duration of the Technical Downtime. In case the Technical Downtime extends
beyond the Closing Time for a particular Lot Group, the Website shall, after the
Technical Downtime, show the Auction for the particular Lot Group as closed.
However, the Closing Time for such Lot Group and subsequent Lot Groups shall be
extended by the duration of the Technical Downtime and appropriate details of
the extension shall be published on the Website shortly after recovery from the
Technical Downtime. Note that any malfunction in the Mobile Application does not
constitute Technical Downtime. In the event of such malfunction, Bidders should
use the Website to place Bids.
2.28. Bids recorded prior to any
Technical Downtime will be treated as valid according to the Conditions for
Sale. Saffronart shall not be liable for any loss of information due to the
Technical Downtime. The data logs of the Saffronart Server will determine the
duration of the Technical Downtime and any determination made by Saffronart in
respect of extension of the Closing Time shall be final.
3. CATALOGUE
DESCRIPTIONS AND CONDITION OF PROPERTY
3.1 Saffronart offers all
Properties for sale at the Auction "as is", meaning that Property is sold with
all existing faults and imperfections.
3.2 Any statements made by
Saffronart about any Property, whether orally or in writing concerning
attribution to, for example, any school of art or craftsmanship, country or
origin, history or provenance, are only expressions of our opinion or belief.
Such opinions or beliefs have been formed honestly and solely based on
representations/information made/provided by the Seller. The condition report of
the Property shall be made available to the prospective Buyer upon written
request and such condition report of the Property will be based solely on
representations/information made/provided by the Seller. Further, Saffronart
will issue the condition report of the Property solely based on images and
details of the artwork(s) provided by the Seller and Saffronart may or may not
have physically inspected the Property. Saffronart does not in any way represent
that it has carried out any research or analysis with respect to any Property,
and it is therefore recommended, especially in cases of Properties of high
value, that potential Buyers seek advice on such matters from their own
professional advisors. Saffronart shall not be liable/responsible towards any
person for any losses arising/resulting from (i) the statements of Saffronart
about the condition of any Property and/or (ii) opinion or belief of Saffronart
in any condition report of any Property.
3.3 The Buyer undertakes
to:
(i) rely on his own judgment as to whether the Property matches its
description; and
(ii) not solely rely on an illustration of any Property
given in the Catalogue.
(iii) to inspect the Lot(s) and satisfy himself prior to the Auction as to
the condition and Description of the property.
3.4 Neither
Saffronart nor any of its 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 authenticity,
description, or condition of any Property for sale through the Auction.
4. AUTHENTICITY GUARANTEE
4.1 Guarantee of Properties (other than
Precious Objects or Books): With respect to the property (not including Precious
Objects or Books) Saffronart guarantees the authenticity of the Property for a
period of one year, and will provide a Saffronart authenticity certificate in
relation to this guarantee (please note Saffronart does not provide authenticity
certificates from artists). Authenticity in relation to artworks shall mean
compliance of the artwork with Description provided in the Auction Catalogue,
particularly with reference to the name of the Artist, title (if any) of the
artwork or date, the school of art (if mentioned), dimensions, medium,
etc.
In the unlikely event that within one year from the sale of the
Property through Auction, it is proved by the Buyer, to the reasonable
satisfaction of Saffronart that the Property was not authentic and if, in
Saffronarts opinion, Bidders being aware of such error or omission would have
bid significantly less than the actual Sale Price, Saffronart shall be entitled
to rescind the sale and the Seller will be liable to refund to the Buyer the
Sale Price paid for the Property. The Buyer shall return the Property to
Saffronart and Saffronart shall hand over the Property to the Seller upon refund
of the Sale Price paid to him for the Property. Once Saffronart obtains the
refunded amount from the Seller, it shall forward the same along with the amount
charged by Saffronart as the Buyer's Premium to the Buyer.
All such
claims will be handled on a case-by-case basis, and in the case of an
authenticity claim will require that examinable proof, which clearly
demonstrates that the Property is not authentic, is provided by an established
and acknowledged authority. The decision of Saffronart in respect of such claims
shall be final and binding. The authenticity guarantee under this clause 4.1
does not apply to jewellery, watches , books or precious stones.
4.2 The
above guarantee given in clause 4.1 shall be subject to the following
conditions:
i. The claim is made by the Buyer as registered with
Saffronart (the benefit of the claim is not assignable to any subsequent owners
or others who may acquire or have an interest in any of the
Properties)
ii. The Property is returned in the same condition that it
was in at the time of delivery of the Property to the Buyer.
iii. The
Property was indisputably purchased through the Auction.
4.3 Guarantee in
relation to Precious Objects: In the case of Properties which have been
categorised by Saffronart as Precious Objects, Saffronart guarantees that the
Property shall comply with characteristics or features mentioned in all capital
letters in the heading of the Description of the Property in the Auction
Catalogue (with the exception however that in the case of the MobileApp Auction
Catalogue, the characteristics or features mentioned in all capital letters may
be displayed in a position other than the heading) till such time that the
Property is in the possession of Saffronart. All colored stones unless certified
may or may not be treated for enhancements. It is therefore advisable for Buyers
or potential Buyers of such Properties, to inspect the Property prior to bidding
or prior to shipment or Buyer pickup from Saffronart. This guarantee will not be
applicable once the Property has been shipped to the Buyer by Saffronart.
In the unlikely event that during such inspection, the Buyer is able to
prove to the reasonable satisfaction of Saffronart that the Property does not
match the details given in the (capitalised) heading to the Description, and if,
in Saffronarts opinion, Bidders being aware of such error or omission would have
bid significantly less than the actual Sale Price, Saffronart shall be entitled
to rescind the sale and the Seller will be liable to refund to the Buyer the
Sale Price paid for the Property. The Buyer shall return the Property to
Saffronart and Saffronart shall hand over the Property to the Seller upon refund
of the Sale Price paid to him for the Property. Once Saffronart obtains the
refunded amount from the Seller, it shall forward the same along with the amount
charged by Saffronart as the Buyer's Premium to the Buyer.
4.4 In all
cases Saffronart retains the right to consult with, at the expense of the Buyer,
two recognized experts in the field, (such experts being mutually acceptable to
Saffronart and the Buyer), to examine the Property under question before
deciding to rescind the sale and offer the refund under the above guarantee. The
opinion of the experts shall not be binding on Saffronart.
4.5 In the
event of the Seller's failure to refund the proceeds as stated in this clause,
the Buyer shall return the Property to Saffronart and authorize Saffronart as
its agent to initiate legal proceedings against the Seller. Any such steps taken
or legal proceedings instituted by Saffronart against the Seller shall be to the
cost of the Buyer.
5. EXTENT OF SAFFRONART'S LIABILITY
5.1.
Saffronart has an obligation to refund the Sale Price and Buyers Premium to the
Buyer only in the circumstances described in Clause 4 above (Authenticity
Guarantee). Damages, losses or loss in value if any to the artwork (excluding
frames) or books incurred during shipping and transit are covered as per the
insurance policy taken by Saffronart. In case the Buyer opts out of insurance
coverage arranged for by Saffronart, Saffronart shall not entertain any claims
for damage or loss during shipping and transit. Subject to the authenticity
guarantee above, neither Saffronart's suppliers nor Saffronart, nor any of
Saffronart's employees or agents, shall be responsible, either for the
correctness of any statements as to the authorship, origin, date, age,
attributes or genuineness of any Property in the sale, or for any mistakes in
the Description, or for any faults or defects in the Properties, or for any
other act or omission, whatsoever. Saffronart offers no guarantee or warranty
other than the limited assurance contained in the authenticity guarantee
above.
5.2 It is stated and agreed that the rescission of the sale and
the refund of the total Sale Price paid by the Buyer is the sole remedy that may
be sought by a Buyer, nd such remedy is exclusive and in lieu of any other
remedy which may otherwise be available under law. Saffronart shall not be
liable for any incidental or consequential damages incurred or claimed.
6. COPYRIGHT
All content of the Print Auction Catalogue,
eCatalogue and on the Website and Mobile Application are copyright protected in
favour of Saffronart. All trademarks, names, brand names, etc. used in the Print
Auction Catalogue and on the Website and Mobile Application are either
trademarks or registered trademarks of Saffronart. Any rights not expressly
granted herein are reserved. No image, illustration or written material maybe
used or required without the prior written permission of Saffronart. Saffronart
and the Seller(s) make no representation or warranty that the Buyer of a
Property will acquire any copyright or other reproduction rights in
it.
7. LEGAL NOTICES
7.1. Saffronart may validly serve the Bidder/
Buyer with legal notice, if required, under these Conditions of sale
by
i. Sending an email to the email address disclosed by the Bidder/
Buyer to Saffronart; or
ii. Sending a courier to the address disclosed by
the Bidder/ Buyer to Saffronart.
7.2. Such legal notice shall be deemed
to have been properly served:
i. In the case of email transmission - on
the date of the transmission; or
ii. In case of transmission by courier -
2 business days after the dispatch of the notice by courier.
8.
SEVERABILITY
If any part of the Conditions for Sale between the Buyer and
Saffronart is found by any court of law to be invalid, illegal or unenforceable,
that part may be discounted and the rest of the conditions shall be enforceable
to the fullest extent permissible by law.
9. LAW AND
JURISDICTION
The Conditions for Sale are subject to the laws
of:
i. India, in the event that the Seller is located in India;
and
ii. the United States of America, in the event that the Seller is
located in any jurisdiction other than in India, and such laws shall apply to
the construction of the Conditions for Sale and to the effect of the provisions
thereof.
All parties are subject to the exclusive jurisdiction of courts
at:
i. Mumbai, Maharashtra, India, in the event that the Seller is
located in India; and
ii. New York in the event that the Seller is
located in any jurisdiction other than in
India.