Page 145 - Present-Future-September-2023

GENERAL TERMS AUTHENTICITY GUARANTEE

• By participating in this auction, you acknowledge that you are bound by the Conditions for Sale • AstaGuru assures on behalf of source that all properties on the website are genuine works of the
listed below and on the website www.astaguru.com artists listed.
• Securing the Winning Bid results in an enforceable contract of sale. • However in an unlikely event if a property is proved to be unauthentic to AstaGuru’s satisfaction
within a period of 1 month from the collection date, the seller shall be liable to pay back the full
• AstaGuru is authorized by source to display at AstaGuru's discretion images and description of all
amount to the buyer. These claims will be handled on a case-by-case basis, and will require that
lots in the catalogue and on the website.
examinable proof which clearly demonstrates that the property is unauthentic is provided by an
• AstaGuru can grant, record and reject any bid. established and acknowledged authority. Only the actual buyer (as registered with AstaGuru) can
make the claim.
• Bidding access shall be given at AstaGuru's discretion.
• The property when returned, should be in the same condition as when it was purchased.
• AstaGuru may request a security deposit to be made in H or its equivalent in $
(in the event the buyer is a non-resident). The tier based bidding limit corresponding to security
• AstaGuru shall charge the buyer in case any steps are to be taken for special expenses that shall take
deposit are as the following.
place in order to prove the authenticity of the property.
Security Deposit Bidding Limit
I 2,00,000 I 20,00,000 • In case the source fails to refund the amount, AstaGuru shall be authorized by the buyer to take
legal action on behalf of the buyer to recover the money at the expense of the buyer.
I 3,00,000 I 30,00,000
I 5,00,000 I 5 ,00,0000
I 10,00,000 I 1,00,00,000
• AstaGuru may review bid history of specific lots periodically to preserve the efficacy of the auction EXTENT OF ASTA GURU ’LS IABILITY
process.

• AstaGuru has the right to withdraw a lot before, during or after the bidding, if it has reason to • AstaGuru has to obtain the money from the source and refund to the buyer the amount of purchase
believe that the authenticity of the Property or accuracy of description is in doubt. value in case the work is not authentic.
• Reserve price on lots are confidential. • All damages and loss during transit must be covered by the insurance policy, AstaGuru will not be liable.

• AstaGuru shall raise all invoices including Auction House Margin and related taxes.
• AstaGuru or any member of its team is not liable for any mistakes made in the catalogue.
• The Auction House Margin shall be calculated at 1 % on the hammer price.8
• The description and additional information provided by AstaGuru in the catalogue is to our best
• Foreign currency exchange rates during the auction are made on a constant of $ as per converted in the opinion, however we have not undertaken a comprehensive research exercise and therefore
catalogue. potential buyers are encouraged to gauge and consult with professional advisors of their preference.
• All invoicing details should be provided by the buyer prior to the auction.
• If any discrepancy with regards to description and additional information occurs AstaGuru/
• All payments shall be made within 7 days from the date of the invoice. AstaGuru Team Members are not liable for the same.
• In case payment is not made within the stated time period, it shall be treated as a breach of • AstaGuru’s liability with regards to authenticity is limited to the values mentioned in Capital letters in
contract, AstaGuru shall take any steps including the institution of legal proceedings. the title heading section of the Lot. Furthermore the AstaGuru’s liability for the same is limited for a
period of one month from the date of the auction of the lots.
• AstaGuru will charge a 2% late payment fine per month.
• AstaGuru is not liable for any claims on insurance.
• If the buyer wishes to collect the property from AstaGuru, it must be collected within 30 Days from
the date of the auction. The buyer shall be charged a 2% storage fee if the property is not collected
• AstaGuru is not liable in case the website has any technical problems.
on time.
• If any part of the Conditions for Sale between the Buyer and AstaGuru is found by any court to be
• AstaGuru is the sole authority to award the Winning Bid to the Bidder with the highest Bid at the end of
invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions shall be
the auction, and AstaGuru is also the sole authority to nullify the same if it deems it necessary.
enforceable to the fullest extent permissible by law.
• In an unlikely event of any technical failure and the website is inaccessible, the lot closing time shall
be extended. • The said named Owner being the principal is the sole, absolute and rightful owner of the ARTWORK(S)
and is able to transfer good and marketable title over the ARTWORK(S) to AstaGuru, free from any liens,
• Bids recorded prior to the technical problem shall stand valid according to the terms of sale.
encumbrances, unpaid taxes or dues or charges. There are no legal proceedings pending in respect of
• All Lots are offered during the auction in its ‘present/current condition’, this implies and the ARTWORK(S) and the ARTWORK(S)is not the subject matter of any dispute.
encompasses all existing faults and imperfections. We encourage all potential buyers to inspect each
item carefully before bidding.

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