Page 6 - Southeast Asian Contemporary Art Auction June 2018
P. 6

TEAM ASTAGURU                                                                                                         BUYING AT ASTAGURU

                                                                                                                                          Estimates                                       Currency of Bidding
                                                                                                                                           Estimates are based on an average market value of the lot.   Bids can be placed in US Dollars (US$) or Indian Rupees (INR).
                                                                                                                                           These are provided only as a guide for buyers.   Buyers in India must pay for their purchase in INR and all other
                                                                                                                                           Buyers should not rely on estimates as a prediction of actual price.  buyers must pay in US$.
                                                                                                                                           Estimates do not include Auction House Margin.
                                                                                                                                                                                          Closing and Winning Bid
                                                                                                                                                                                           Winning bid is the last and highest bid at which the lot has closed.
                                                                                                                                                                                           No new bids can be placed after the close of a lot.
                                                                                                                                           TheReservepriceis the minimumprice at whichthelotshall besold.
                                                                                                                                           The reserve price is confidential and will not be disclosed.   The closing bid is considered the winning bid only if the bid
                                                                                                                                                                                           exceeds the reserve price.
                                                                                                                                          Auction House Margin                             All winning bids shall be posted on the website after the close of
                                     VICKRAM SETHI       TUSHAR SETHI       DIGAMBER SETHI                                                 There will be a 15% Margin calculated on the hammer price at the
                                       CHAIRMAN              CEO                COO                                                                                                        the auction.
                                                                                                                                           close of the auction.
                                                                                                                                                                                          Bid Cancellation
                                                                                                                                           For all lots taxes are payable on the final price which includes the
                                                                                                                                                                                           Once any bid has been placed, it cannot be cancelled.
                                                                                                                                           AuctionHouseMargin at the applicablerate,includedin the invoice.
                                                      SPECIALISTS                                                                                                                          AstaGuru reserves the right to cancel any bid in order to protect
                                                                                                                                          Bidding                                          the efficacy of the bidding process.
                                                       CLIENT RELATIONS                                                                   Pre –Registration and Verification.
                                                                                                                                           Prospective buyers shouldbe registered and verified in order to bid.  Auction House Margin
                                                                                                                                           If you have registered before, you do not need to pre-register,   In addition to the hammer price, the buyer agrees to pay AstaGuru
                                                                                                                                           your bidding account is active (Use your previous Login Id).  the Margin calculated at 15% of the winning bid value (hammer
                                                                                                                                                                                           price) on each lot.
                                                                                                                                           Fill the form online in order to pre-register, or call AstaGuru.
                                                                                                                                           Once you have pre-registered a representative will call you to verify  After the Sale
                                                                                                                                           your details.                                   If you have won a lot you shall be informed via email after the
                                                                                                                                           If the representative cannot reach you, an email will be sent.  auction has closed.
                                                                                                                                           Please note that if this process has not taken place you shall not   You shall there after receive an email stating hammer price &
                                                                                                                                           be given bidding access.                        Buyer’s Premium along with the related taxes.
                                                                                                                                           In case AstaGuru deems that it has not been provided with   If you are the winning bidder, you are legally bound to purchase
                            satisfactory information to give access for bidding, it will request  the item from AstaGuru. Please note, that purchases will not be
                                                                                                                                           a deposit of INR 5,00,000/- or the US$ equivalent in order to give  shipped out until full payment has been received and cleared.
                   STRATEGY         ADMINISTRATOR          EDITOR             CONTENT             RESEARCH                                 bidding access.                                Invoicing
                                                                                                                                  reserves the right to give bidding access and can
                                                                                                                                                                                           All details for the invoice are to be provided prior to the auction.
                                                                                                                                           refuse bidding access as well.
                                                                                                                                                                                           After the auction, the buyer as invoiced is required to pay the
                                                                                                                                           All registrations should take place 24 hours before the auction.
                                                                                                                                                                                           amounts in full (including the additional charges).
                                                                                                                                           Once your registration and verification is completed you shall
                                                                                                                                                                                           No lot shall be sent without payment being made in full.
                                                                                                                                           receive an email confirming your bidding access along with your
                                                                                                                                           Login Id and password.                         Shipping and Insurance
                                                                                                                                                                                           Price estimates do not include any packing, insurance, shipping or
                                                                                                                                          Absentee Bids
                                                                                                                                                                                           handling charges, all of which will be borne by the buyer.
                                                                                                                                           You may place an absentee bid, by faxing the written bid form
                                                                                                                                                                                           Shipping will be charged on courier rates and are determined by
                                                                                                                                           available online and in the printed catalogue. You may also place
                                                                                                                                           proxy bids online.                              the size, weight and destination of the package.
                                                                                                                                           All bids must come in 24 hours before the auction.
                                                 Duties & Taxes
                                                                                                                                                                                           All duties and taxes shall be borne by the buyer.
                                                                                                                                          Opening Bid
                   STRATEGY      BUSINESS DEVELOPMENT            MARKET ANALYSTS                  LOGISTICS
                                                                                                                                                                                          Sale in India
                                                                                                                                           ofeachlot.                                      All sales in India shall attract GST of 12% .
                                                                                                                                           Opening bid is 20% lower than value of the lower estimate.
                                                                                                                                                                                          International sales
                                                                                                                                          Bidding Online                                   There shall be no GST levied on International sales.
                                                                                                                                           Once you have identified the lot that you would like to bid on, click
                                                                                                                                           on ‘Bid Now’ to confirm your bid at the value listed.  Payment
                                                                                                                                           This is where you participate in the bidding process, by entering   Buyers will be required to complete payment within a period of 7
                                                                                                                                                                                           business days from the receipt of the invoice via email.
                                                                                                                                           the next valid bid each time you are out-bid.
                                                                                                                                                                                           Any delay in payment will be liable for a 2% interest charged per
                                                                                                                                           The next valid bid will be at a 10% increment in value of the last
                                                                                                                                                                                           month and a storage charge of 2% per month.
                                                                                                                                           valid bid. Above Rs. 1,00,00,000/- or equivalent US$ bid
                  JEET CHHEDA         SHOHAIB ALI        ADITYA WARANG      RUPESH KHANAA       KARTHIK LYNCH                              increment will be at 5%.
                                                     Delivery / collection of purchase
                                                                                                                                           All lots have bid history available to be viewed.
                                                                                                                                                                                           Works will be shipped within 7 days of the payment being cleared.
                                      MARKETING        PUBLIC RELATIONS    HUMAN RESOURCE                                                 Bid Increments                                   Buyers may choose to collect their purchase from AstaGuru in
                                                                                                                                           All bids will have an increment of 10% of the current valid bid. Above  Mumbai within 7 days from the date of the sale.
                                                                                                                                           Rs. 1,00,00,000/- orequivalent US$ bidincrement willbeat 5%.   Buyers who have completed payment formalities and have not
                                                                                                                                                                                           taken delivery of their art works from AstaGuru within 30 days of
                                                                                                                                          Personalized Bid Notifications
                                                                                                                                                                                           the completion of payment formalities, will be charged demurrage
                                                                                                                                           By clicking on 'My Bid Summary', which is your personalized bid  @2%per monthon thevalue of the artworks.
                                                                                                                                           page, you may choose how frequently you would like to be
                                                                                                                                           notified of a change on your bid status.       Participate in our next auction
                                                                                                                                                                                           If you are interested in consigning works from your collection to
                                                                                                                                          Bid History
                                                                                                                                                                                           our next sale, please contact us at or at
                                                                                                                                           Bid history indicates the value recorded for each lot since the start
                                                                                                                                                                                           the auction help desk +91 22 2204 8139.
                                                                                                                                           of theauction.
                                                                                                                                                                                           If you would like to stay informed of AstaGuru’s upcoming events,
                                      ABHAY MENON       AARTI AGGARWAL     SNEHAL PEDNEKAR                                                 Bid History will not be displayed once the auction has closed.
                                                                                                              please register with us online.
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