THE COLLECTOR`S EYE (27-28 MAY 2020)

with the ASI or otherwise, or deemed National Treasures,

are NON‒EXPORTABLE as per the

Antiquities Act

and

the

Rules

, and cannot be exported out of India.

6.5 In respect of each sale at the auction, We shall charge

a Buyer’s Premium calculated at the rate of (i) 20% of the

winning bid value of up to and including USD 2,000,000

(ii) 15% of the winning bid value in excess of USD

2,000,000 up to and including USD 3,000,000 and (iii) 12%

of the winning bid value in excess of USD 3,000,000. GST

applicable on the Buyer’s Premium shall be payable by

the winning bidder.

6.6 The winning bidder shall be invoiced based on details

provided at the time of registering for the auction.

Winning bidders located in India will be invoiced in INR

and all other winning bidders will be invoiced in USD.

Payments must be made in the currency on the invoice

in any of the following modes of payment.

For INR payments

(i) Cheque/Demand Draft

(iii) RTGS/NEFT

(iii) Credit card: up to INR equivalent of USD 5,000

For USD payments

(i) Cheque

(ii) Direct wire transfer

(iii) Credit card: up to USD 5,000

NOTE: Payments in excess of USD 5,000, or its INR

equivalent, must be made through a wire transfer

or cheque.

and

Our Affiliates

will not be held

responsible for any refusal or failure to accept modes of

payment not outlined above.

6.7 The winning bidder shall pay the Sale Price and Buyer’s

Premium in full (including the applicable taxes and

other charges, if any) within 7 (seven) business days from

the date of invoice. Subject to paragraph 6.4 above, no

shipment or deliveryof theLotwill bemade to thewinning

bidder if the Sale Price and Buyer’s Premium (including

the applicable taxes and other service charges, if any) are

not received by Us and until all proper documentation in

connection with the sale of the Lot has been completed,

and until the ownership along with registration of

the Lot has not been transferred from the seller to the

winning bidder (in case of Lots which are Antiquities,

such transfer being in accordance with the provisions

of the Antiquities Act and the Rules). Payments will not

be accepted from any parties other than the winning

bidder as recorded on the invoice. Due to the prevailing

COVID‒19 global health crisis, buyers can expect a delay

in shipping and delivery of the purchased Lot/s. Buyers

will receive a notification from Us as and when the

restrictions imposed by several countries around the

world are relaxed or lifted and shipments resume.

6.8 The winning bidder acknowledges that

will abide by

any export restrictions that may apply in the countries

from where specific

Lots

will be shipped. The winning

bidder shall also be responsible to ensure that the

Lot(s)

are freely importable into his/her country or to the

country where the destination for delivery (as specified

by the winning bidder) is located. If the winning bidder

become aware of any restrictions to such import

subsequent to the completion of the auction, thewinning

bidder shall provide an alternate delivery destination

. All costs associated with the process of delivery

and storage (when required) of the

Lot

shall be borne

by the winning bidder. The

Lot(s)

shall be handed over

to the winning bidder or his/her nominee only upon full

payment of all such costs, subject to clause 6.7 above

6.9

Lots

marked as “Art Treasures” and/or “Antiquities” under

the

Antiquities Act

and

Rules

cannot be exported

outside India, notwithstanding that the payment in lieu

of such

Lots

may be received from the winning bidder

in USD. If you are the successful bidder for any such

Lot

, you agree not to export such

Lot

outside of India.

Each winning bidder is solely responsible for meeting

the requirements of the

Antiquities Act

and

Rules

, or

any related state legislation. Please note that the

Lots

are marked for your convenience only, and

do not

accept any liability for errors or for failing to mark the

Lots

6.10 Non payment: In case payments are not received within

7 business days of each invoice, We shall treat the same

as a breach of contract of sale by the winning bidder, and

the seller may, in such an event, authorise Us to take any

steps (including the institution of legal proceedings), as

it may deem to be appropriate to enforce payment by

the winning bidder. In addition, the winning bidder will

be charged demurrage at 1% of the total value (winning

bid plus Buyer’s Premium) or INR 10,000 per month,

whichever is higher, till the date of actual payment.

6.11 With respect to

Lots

which are

Antiquities

, pursuant to

the ownership along with registration of the

Antiquity

being transferred to the winning bidder in accordance

with the provisions of the

Antiquities Act

and

Rules

, if

the winning bidder informs

that the winning bidder

wishes to collect the

Antiquity

from

in person and

such

Antiquity

is not collected by the winning bidder

within 30 days of the registration formalities being

completed,

shall arrange for storage of the

Antiquity

at the winning bidder’s expense, and shall only release the

Antiquity

after payment has been made, in full, of the

Sale Price

including storage and insurance at applicable

rates.

6.12

shall be entitled to exercise a lien on the Lot for

payment of any sums due to Us from the winning bidder,

including the Sale Price, Buyer’s Premium or costs relating

to storage and insurance where they are to be borne by

the winning bidder, in relation to any Lot purchased by

the winning bidder.

7. Authenticity Guarantee

7.1

provide a limited guarantee on the authenticity of

the

Lots

for a period of one year from the date of the

auction of such

Lots

only guarantee, subject to

the qualifications below, the information mentioned in

all capital letters in the title heading of the

Lot

in the

Auction Catalogue

do not guarantee any other

attribute of such

Lot

even if such other attribute is in all

capital letters.

7.2 The authenticity guarantee does not apply to title

heading or part of a title heading which is qualified. A title

heading is qualified when it is limited by a clarification or

limitation in all capital letters in the title heading of the

Lot

in the

Auction Catalogue

7.3 The authenticity guarantee does not apply if the title

heading of the

Lot

in the

Auction Catalogue

, as on the

date of auction or as amended by any saleroom notice,

either is in accordance with the generally accepted

opinion of experts, or indicates that there is a conflict of

opinion of such experts.

7.4 The authenticity guarantee does not apply if it is proved

that the title heading of the

Lot

in all capital letters in the

Auction Catalogue

, is not authentic only by scientific

means or processes which, on the date

published

the

Auction Catalogue

, was not generally available

or accepted, or which was unreasonably expensive or

impractical to use, or which was likely to have caused

damage to the

Lot

, or which was likely to have caused

loss of value to the

Lot

7.5 In the unlikely event that within one year from the sale

of the

Lot

through auction, it is proved by the winning

bidder, to

Our

reasonable satisfaction, that the

Lot

was

not authentic and if, in

Our

opinion, bidders being aware

of such error or omission would have bid significantly

less than the actual

Sale Price

shall be entitled to

rescind the sale, and the seller will be liable to refund to

the winning bidder the

Sale Price

paid for the

Lot

7.6 The guarantee above shall be subject to the following

conditions:

(i) the claim is made by the winning bidder as

registered with

and if the winning bidder has

owned the

Lot

continuously between the date of

auction and the date of claim (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

Lots

);

(ii) the concerned property in the

Lot

is returned to

in the same condition that it was in at the time of

delivery of such property in the

Lot

to the winning

bidder; and

(iii) the concerned property in the

Lot

is indisputably

the same as purchased through the auction.

Once

obtain the refunded amount from the

seller, We shall forward the same along with the

amount charged by Us as the Buyer’s Premium to

the winning bidder. We shall not be accountable to

the winning bidder for any taxes, shipping, handling

or any other charges that may have been applicable

at any time from the sale of the Lot till the claim.

7.7 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

Lot

is not authentic, is provided by an established

and acknowledged authority.

Our

decision in respect of

such claims shall be final and binding.

7.8 In all cases,

retain the right to consult with, at the

expense of the winning bidder, two recognised experts

in the field (such experts being mutually acceptable to

and the winning bidder), to examine the

Lot

under

question before deciding to rescind the sale and offer the

refund under the guarantee set out above. The opinion

of the experts shall not be binding on

7.9 In the event of the seller’s failure to refund the proceeds as

stated in this paragraph, the winning bidder shall return

the concerned property in the

Lot

and authorise

as its agent to initiate legal proceedings against the seller.

Any such steps taken or legal proceedings instituted by

against the seller shall be to the cost of the winning

bidder.

8. Privacy of Personal Information

8.1

will maintain the confidentiality of your personal

information as disclosed to

and undertake to not

disclose such information to any third party, unless

otherwise required by law or a governmental authority.

8.2 The winning bidder agrees tomaintain the confidentiality

of the information about the seller, including name

and address, as mentioned in any

Antiquity

document/s.

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