SPRING ONLINE AUCTION (3-4 MARCH 2020)

CONDITIONS FOR SALE

These conditions for sale set out the terms on which

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 the conditions for sale listed below and on

Our Website,

saffronart.com,

and that the auction is being

conducted on behalf of the

Seller

in accordance with the

Order

You will find a glossary at the end explaining the meanings of

the words and expressions which are in

bold

Eligibility and Compliance

1.1

have been granted a valid licence under the

Antiquities

Act

and

Rules

for conducting the auction of

Lots

which

are

Antiquities

and for dealing in

Antiquities

as a part of

the

Lots

being auctioned.

1.2

will have no ownership interest in any

Lot

(including

in any

Antiquity)

. Upon receipt of full payment by

from the winning bidder, the ownership of the

Lot

along

with its registration, where applicable, (as required under

the

Antiquities Act

) will be transferred/delivered by

the Seller

to the winning bidder in accordance with the

provisions of these conditions for sale.

1.3 The possession of the

Lots

has passed from the

Seller

within the territory of India.

Our role as the agent of the Seller:

1.1

are conducting this auction on the direction of the

Seller

in accordance with

the

Order

. This auction is

being held on behalf of

Seller

to recover the proceeds

of crime set out in the

Order

from the

Original Owner

in accordance with the provisions of the Prevention of

Money laundering Act 2002 and Rules made thereunder.

1.2

undertake to sell

Lots

through this auction as agents

for and on behalf of

Seller

have no ownership interest

or any other financial interest in any of the

Lots

1.3 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

Our Website

and/or through the

MobileApp

constitutes an irrevocable offer to purchase a

Lot

, and the

acceptance of a bid as the winning bid by

shall result in

an enforceable contract of sale between

, acting solely

as the agent of the

Seller

, and the winning bidder.

Catalogue Descriptions and Condition of Lot

3.1

offer all

Lots

for sale at the auction on an “as is” basis,

meaning that each

Lot

is sold with all existing faults and

imperfections.

encourage all potential buyers to

inspect each item carefully before bidding.

3.2 Size description/s of all the

Lots

featured in the

Auction

Catalogue

are approximate.

encourage all potential

buyers to inspect each item carefully before bidding.

3.3 Any statements made by

, including by

Our

representatives/employees, about any

Lot

, whether orally

or in writing, concerning attribution of such

Lots

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

Lot

have not

carried out any exhaustive research or analysis on any

Lot

to be sold in this auction, and potential buyers should seek

appropriate advice on the condition of each

Lot

from their

own professional advisors.

3.4 We take no responsibility as to the nature of title of the

Original Owner

and have relied on the representations

made by the

Seller

as to the good and marketable title

of the

Original Owner

over the

Lots

. That said, any

statements made about any

Lot

, whether orally or in

writing, concerning the validity of the title over the

Lots

only an expression of

Our

opinion or belief and has been

formed basis the representations of the

Seller

have

not carried out any exhaustive research or analysis on any

Lot

to be sold in this auction, and potential buyers should

seek appropriate advice on the title of each

Lot

from their

own professional advisors.

3.5 For handbags and accessories, the condition of

Lots

sold

Our

auctions can vary widely due to factors such as age,

previous damage, restoration, repair and wear and tear.

Condition reports and grades are provided to bidder upon

request free of charge as a courtesy and convenience and

are for guidance only. They offer

Our

bona fide opinion,

but they may not refer to all faults, restoration, alteration

or adaptation. They are not an alternative to examining a

Lot

in person or taking independent professional advice.

recommend the bidders examine the

Lot

in person or

take independent professional advice prior to bidding on

such

Lot/s

Lots

are sold “as is,” in the condition they are

in at the time of the sale, without any representation or

warranty as to condition by

or by the

Seller

3.6 Grades for handbags as indicated in the condition reports:

3.7 For the convenience of bidders,

provide condition

reports on

Lots

upon request free of charge. The report

includes

Our

bona fide opinion on the condition of the

Lot

and is not an alternative to viewing and inspecting a

Grade Corresponding condition of handbag

As new. Appears never to have been used. It

exhibits no signs of wear.

In excellent to pristine condition. To the untrained

eye, it may appear brand new. There may be a

slight condition note, but overall the condition of

the bag is nearly perfect.

In excellent condition. This is a piece that has

seldom been used and shows little to no wear.

There may be small condition issues to note.

Overall, the piece is in excellent condition.

In very good condition. This piece may show signs

of light wear. It is in very good condition but the

corners may show signs of light scuffing, the base

may show light scratches, and the hardware may

exhibit light marks.

In good condition. This is a piece that shows wear.

There are condition issues that will be noted in the

condition report.

In fair condition. This piece shows significant

wear and/ or damage. It may require repair or

refurbishment in order to be used. Condition

issues will be noted in the condition report. Any

reference to condition in a catalogue entry will

not amount to a full description of condition,

and images may not show the condition of a

Lot

clearly. Colours and shades may look different in

print or on screen to how they look in real life. It

is the bidder’s responsibility to ensure that he/she

has received and considered any condition report

and grading.

Lot

by a bidder, or a bidder's duty to seek independent

advice on the

Lot

, including its description, condition and

authenticity.

3.8 The bidders undertake to:

(i) inspect and satisfy themselves prior to the auction as

to the condition and description of the

Lot

;

(ii) rely on their own judgment as to whether the

Lot

matches its description; and

(iii) not rely on an illustration of any

Lot

given in the

Auction Catalogue

3.9 Neither

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

Lot

for sale

through this auction.

Viewing the Lots and Bidder Registration

4.1 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

4.2

may withdraw any

Lot

before, during, or after the

auction, if

have reasons to believe that the authenticity

of the

Lot

or the accuracy of the description of the

Lot

in doubt, or if there is a breach of

Our

terms of business,

or if

otherwise believe, in

Our

sole discretion, that it

would be improper to include the

Lot

in the auction.

4.3 All

Lots

shall be sold subject to the

Reserve Price

. If the

winning bid is below the

Reserve Price

, the

Lot

shall be

considered unsold. The

Reserve Price

on each

Lot

shall be

confidential and

shall have no obligation to disclose

the same to any bidder.

4.4

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