About
the Auction
Price
- Estimates
Each
lot has a listed price range. These estimates are provided only as a guide
for buyers. You may check the comparable prices of similar works of art through
a link, called 'comparables' which is listed next to each lot in the online
catalogue. Please note that the estimates for individual lots have been
'rounded off' for easy reference and do not necessarily reflect the exact
exchange rate used for bid calculations. Price-estimates for each lot are
prepared well in advance of the sale and may be subject to revision. Estimates
do not include the buyer's premium or any applicable additional charges such as
shipping, insurance and taxes.
How
to Bid
Pre-registration
and Verification
You
must be registered and verified for the AstaGuru auction in order to bid. If
you are already a registered user, you will still have to pre-register for the
auction and accept the conditions for sale, but you may participate using your
AstaGuru login id. In order to pre-register fill up the pre-registration
form online or call AstaGuru. Once you pre-register and accept the conditions
for sale, an AstaGuru representative will call to verify your details and
request additional information prior to giving you bidding access. In the event
the AstaGuru representative cannot reach you on the phone, an email will
be sent to you, asking for additional information and providing you with
phone numbers to get in touch with AstaGuru. Please note that if we do not
receive a response from you to the additional information request, bidding
access may not be available to you. Please also note that the verification
process might take time in some cases and so bidders are advised to
pre-register at least 24 hours prior to the start of the auction so that
bidding access is available to them at the start of the auction.
Once
your pre-registration has been accepted you will be sent an email confirming
your bidding authorization along with your login id and password.
Bidding access shall be given at AstaGuru's discretion and AstaGuru may set
limits on bidders and/or require payment guarantees or deposits prior to giving
bidding access. You will be informed of the limits if any and will not be
allowed to bid further if your bidding limit is exhausted across all lots in
the auction. If you are informed of limits, please feel free to request
additional information or assistance if you have doubts.
Entering an Online Bid
Once you have identified the lot that you would like to bid
on, click on "Bid Now" and enter either the bid amount for regular online
bidding, or a maximum price for proxy/automatic bidding (for more information,
please see the section on proxy/automatic bidding).
Regular online bidding is essential when you actively participate in the
bidding process by entering the next available bid (or one of a higher value)
each time you are outbid. Your screen will display the next (minimum) valid
bid, based on a predetermined increment. You may enter a bid at that value or a
value higher than the next valid bid. You may also view the entire bid history
prior to making your decision. After you enter your bid it is advisable to view
the bid history to verify that your bid has been recorded. Please note that
bidders may be contacted during the auction for bid verification in order to
protect all bidders and maintain the efficacy of the process.
Entering an Offline/Written bid
You can also place offline bids, by faxing
the written bid form available in the online and printed catalogue)
Bid
Cancellation
Once
recorded, neither regular online bids nor proxy/automatic bids may be cancelled
by the bidder.
AstaGuru
reserves the right to cancel a bid at its discretion if it considers it
necessary to do so in order to protect the efficacy of the bidding process.
Bid
Increments
Any new bid must be higher
than the current highest bid by a minimum increment, which applies to each bid
value. The next valid bid amount is the current highest bid plus the minimum
increment value. This minimum increment will be indicated on the detail page
(on the website) for each
Lot The bidder may enter a value at the next valid bid amount or an amount
higher than that.
Minimum
increments are 10% of the current valid bid.
Personalized
Bid Notifications
You
may choose how frequently you would like to be notified of a change on your bid
status. After you have entered your bid, you can specify the types of automatic
email bid notifications that you would like to receive, by clicking on 'My Bid
Summary', which is your personalized bid page.
For example, you can specify that you would like notifications: (i) when you
are outbid and (ii) 24 hours before the close of bidding. 'My Bid Summary' will
display the lots that you have bid for as well as give you the status of your
bids at any time during the auction. It will also give you an option of
choosing a nickname for yourself that displays in the bid history when you
enter your bid.
Reserve
Price
All
lots in this auction are subject to a reserve price, which is confidential. The
reserve price is the minimum price that the lot may be sold for. No
lot can be sold below its reserve price and the reserve price will not
exceed the low price-estimate (see the price-estimate section for more
information). Reserve prices will not be disclosed
Opening
Bid
Bidding on all lots begins at the
opening bid value. The opening bid is the value at which the auction house
starts the bidding on a particular lot. Offline/written bids received before
the start of the auction will be recorded as follows:
-
If the offline/written
bid is less than the opening bid value it will be recorded and displayed below
the opening bid value at the time of the start of the auction in the bid
history for that particular lot.
-
If the offline/written
bid is greater than the opening bid value and is less than the next valid bid
for that lot (based on the minimum increments) it will be recorded and
displayed as the current highest bid above the opening bid value at the time of
the start of the auction in the bid history for that particular lot. The next
valid bid in this case will be higher than the current highest bid by a
minimum increment, which applies to that bid value.
-
Multiple offline/written
bids received on a particular lot before the start of the auction will be
recorded and displayed in the bid history of the lot according to the values
with the highest bid being the current valid bid at the time of the start of
the auction. Offline/written bids received at the same value will be
prioritized based on the time of receiving the bids and will be shown in the
bid history of the lot.
Closing
and Winning Bids
The
closing bid for a lot is the highest bid at the time at which a particular
lot's bidding has ended. No further bids can be made after the close of the
bidding for that particular lot. The closing bid is considered a winning bid,
only if the bid equals or exceeds the reserve price. If the closing bid on a
particular lot is below the reserve price, it will not be considered a winning
bid and the lot will be deemed unsold. However, if the closing bid belongs to a
proxy bidder and is below the reserve price, but the proxy bidders' maximum bid
price exceeds or equals the reserve price, then the lot will be sold to the
proxy bidder at the reserve price. The winning bids for all sold lots will be
posted on the website after the close of the bidding.
Tracking
Bids
The
bid history provided on the website page for each lot will indicate the values
that have been recorded since the start of the auction to the current highest
bid. You may also view 'My Bid Summary' for bidding information on all the lots
that you have bid for in this auction. Note: for ease of tracking, bidders are
advised to assign bidding nicknames to themselves in 'My Bid Summary'. They are
also requested to refresh their page frequently to get latest bid updates.
Currency
of Bidding and Special Lots
Bids will be placed in US Dollars
(USD) or Indian Rupees (INR). However, only buyers in
Indiamay pay for their purchases in INR at
the close of the auction. All other buyers must complete payment in USD.
Condition
of Lots
All lots will be shipped out in
an 'as is' condition. Condition reports for all lots are available upon request
by email, fax, or telephone. AstaGuru shall not be responsible for, or shall
not be liable for any lot in respect of its condition to the extent that such
condition has been recorded in the condition report or provided by the
consignor for the condition report. Failure by a bidder to request a condition
report shall further prevent AstaGuru from being liable in this respect.
Buyers
Premium
AstaGuru will
charge the buyer a premium on the winning bid value. The buyers' premium
is calculated at 10% of the winning bid value on each lot. There will be a
service tax applicable on the Buyers' Premium for deliveries within
India which will be included in the invoice.
Completing
the purchase
If
you win a bid, you will be informed on email immediately upon closing of
bidding on that particular lot. You will be sent a subsequent email after the
close of the auction, which will contain an invoice for the winning bid and an
invoice for the Buyer's Premium (with payment options specified). 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 AstaGuru.
Please note that purchases will not be shipped out until full payment has been
received and cleared.
Invoicing
Bidders are required to provide all invoicing details to AstaGuru prior to the
sale at the time of registering for the auction as no invoices will be
changed after the sale and the bidder will be as registered with
AstaGuru invoiced. After the sale, the Buyer is required to pay the
amounts as invoiced in full (including the additional charges). No
shipment or delivery will be made if this amount is not received or until all
proper documentation is completed. No payments will be accepted from any other
party/parties other than the Buyer mentioned on the invoice.
Shipping
and Insurance
Price-estimates do not include any packing, insurance, shipping or handling
charges, all of which will be borne by the buyer. Shipping will be charged on
courier rates and determined by the size, weight and destination of the
package. Bidders may, review on the website, an estimate of
applicable additional charges for the lots during the auction. The additional
charges for the current as well as the next highest bid may be reviewed, to
help bidders make bid value decisions. Buyers may request reframing,
restoration or cleaning of works, or may leave specific packing or shipping
instructions. Any additional expenses in such cases shall be borne by the
buyer.
Duties
& Taxes
All
duties and taxes applicable on the purchase of the art work shall be borne by
the buyer. An estimate of applicable charges for each lot and buyer destination
may be viewed online.
Sales in
India
:
Any
sale that takes place within
India
is subject to a 12.5% VAT on the winning bid value and a
12.36% Service Tax on the buyers' premium. A CST of 3% instead of the 12.5% VAT
will be applicable on the winning bid value only if the delivery location of
the lot is outside the state of
Maharashtra, and the buyer provides the necessary
documentation required by the Sales Tax authorities. The Service Tax on the
buyers' premium will still apply at 12.36%.
Payment
Buyers will be required to complete
payment within a period of 7 working days from the receipt
of the invoice via email.
Delivery/collection
of purchases
Purchases are typically shipped out within 7 working days of the payment
being cleared, however, there may be a delay in the shipping if the buyer
requests a work to be reframed or unstretched (the costs of which will be borne
by the buyer). 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. The artworks are packed according to carrier
standards and are fully insured (without the frames) for international
destinations. If the Buyer wants to appoint a logistics agent (on their behalf)
for shipment then the documentation supporting the shipment will be generated
by AstaGuru. If the documentation is not completed to the specified
requirements then the Buyer will be liable for any duties or taxes that might
be levied by the authorities on the transaction.
Buyers may choose to collect their purchases from the AstaGuru office in
Mumbai. In such cases, buyers are requested to make an appointment to collect
purchases within 7 working days of completion of all payments and
documentation formalities.
Storage
and Demurrage
The
Buyer shall ensure that all payment formalities are completed within
seven working days of the receipt of the invoice. In case payment is not
received within such period, this shall be treated as a breach of contract and
AstaGuru may take any steps (including the instituting of legal proceedings),
which appear to AstaGuru to be appropriate to enforce payment by the Buyer. The
Buyer will also be charged demurrage @ 1% per month on the value of the
artworks.
Buyers
who have completed payment formalities and have not taken delivery of their art
works from AstaGuru within 30 days of the completion of payment formalities
will be charged demurrage @ 1% per month on the value of the artworks.
Receipt
of
Purchases
All
purchases from this sale are final. If an artwork has been damaged during
shipping, please contact us at:
contact@astaguru.com
and we will process your case as expeditiously as possible. In the remote
event of your receiving a damaged product, please make note of the damage on
the courier's copy of the airway bill, and a copy of the airway bill which
you retain. Also, appropriate remarks should be made on the delivery sheet
(if applicable) of the courier making the delivery. Buyers must notify
AstaGuru directly within five days of receipt of the artwork if there is
any damage. This will help in processing claims in time.
Participate
in our next auction
If
you are interested in consigning works from your collection to our next sale,
please contact us at
contact@astaguru.com
or at the auction help desk #91 22 22075232
If you would like to keep informed of AstaGuru's upcoming events, please
register with us online.