Terms for Auction
Auctioneer and Auction
This Auction is presented by Marudhar Arts (hereafter referred as "Auctioneer") as identified with the Antique License from the Archaeological Department of India & the Under License No 1. The Auction is conducted under these Terms and Conditions of Auction and all Indian Laws are applicable. The auctioneer reserves the right to include its own item(s) in this auction sale as well as material from affiliated or related to companies, principals, officers or employees.
Auctioneer also reserves the rights:
1. To reject/cancel any bid at any time on any lot.
2. To withdraw any item from the auction without any prior information from both Floor or e-Auction.
3. To place the bids on behalf of the cosigner up to the amount of reserves price established by the cosigner.
Auctioneer will not accept a reserve price from a cosigner above the high estimate shown in the catalogs for auction
4. The auctioneer holds the right to revise, edit invoice in case of any discrepancy found.
5. The auctioneer will not be responsible for any technical issue bidder may face in any cause.
1. Any person participating or registering for the Floor or Online Auction to buy any item offered in this sale agrees & accepts these Terms and Conditions of the Auction. And hereafter that person is referred as "Bidder".
2. If any unit/entity places a bid, then the individual executing the bid on behalf of the unit/entity agrees to personally guarantee the payment for any successful bid.
How to Bid
Anybody can bid who are pre registered with Marudhar Arts auction house.
New bidders need to register at www.MarudharArts.com for participating in the auction and have to furnish the mutual know reference of any Bidder, auctioneer. In case if the above said criteria does not meet then bidder can obtain membership as below.
Silver Membership Rs. 5,000 Lot(s) up to Rs. 1,00,000
Gold Membership Rs. 10,000 Lot(s) up to Rs. 2,50,000
Platinum Membership Rs. 25,000 Lot(s) up to Rs. 10,00,000
Titanium Membership Rs. 50,000 Lot(s) up to any amount
Member Ship Fee is 100% Refundable / Adjustable in your winning lot(s).
4. Bidding Slab
Bidding increments are shown in the table below. These increments are calculated without considering the current bid i.e. if the current bid is 2500 INR then the next increment would be 2700 INR & it will have only 200 INR as an increment until it reaches 5,000 INR.
Current Slab (in INR) Increment Per Bid (in INR)
10,001 - 25,000 1,000
25,001 - 50,000 2,500
50,001 - 100,000 5,000
2,50,000 - 5,00,000 25,000
5,00,001 and above 50,000
1. The Auction will be conducted in Indian Rupees Currency only.
2. The auctioneer will not be responsible for any errors in bidding (typographical error), It is in all sense bidder's responsibility to enter the bid amount correctly. An auctioneer will also not be responsible for Internet bids submitted after the published closing time; nor for any Internet delay from the bidder's end.
3. Auctioneer shall make maximum efforts to properly enter and execute bid received by email, fax or by other means. However, the auctioneer shall not be liable for any errors of incorrectly entered or incorrectly executed bids. Bidders are responsible for their bids including any errors they may make in placing bids.
4. The highest qualified Bidder of any lot recognized by the Auctioneer shall be the Buyer. In the case of a tie bid, the initial bid received or recognized wins. In the event of any dispute between any Bidders at an Auction, Auctioneer may at his sole discretion reoffer the lot. Auctioneer's decision and declaration of the winning Bidder shall be final and binding upon all Bidders.
5. Marudhar Arts does not subscribe to the theory of hidden and undeclared reserve prices. Our auctions are totally transparent without any such reserves. Hence the estimated price of each item is the genuine starting price.
6. Each bidder has to register for the auction and will, therefore, be required to fill up a registration form with full address, telephone number, and email ID. Each bidder form has to be signed by the bidder. By filling up the form, the bidder shall be deemed to have undertaken to fulfill the conditions of the Auction. By making a bid, each buyer acknowledges his/her acceptance of these conditions and shall be bound by them.
7. Those bidders who are new to the Auctioneer may be required to furnish trade references or may pay a refundable deposit.
8. While registered bidders who have fulfilled condition 6 are free to bid in person, postal or email. Buy bids will only be accepted from bidders who are well known to the auctioneer.
Delivery of the lot(s) will be done only once the full payment is received.
1. The bidder has to acknowledge that grading/description/weight for most of the coins / Jewelry in this sale has been determined by independent grading services/experts. Coins / Jewelry grading, condition, and descriptions are subjective. Please note that Marudhar Arts does not warrant the accuracy of such grading, condition, description or weight. All photographs in this catalog are the actual items offered for sale in this auction but may not be the actual size or to scale. If the bidder feels that the description or condition is not satisfactory to him/her while viewing an item, he/she may either avail a high-resolution image which will be sent on request, if this also does not satisfy the bidder, the item may be viewed physically. But all these measures are to be taken before bidding. No complaints shall be entertained after bidding.
2. Lots are sold as shown with all faults, imperfections and or errors of description. Neither the auctioneer nor the seller is liable for any fault or error of description. All statements as to the items sold, at any point, are statements of opinion only. The auctioneer reserves the right in forming his opinion, to consult and rely upon any expert or authority considered by him reliable. Notwithstanding the aforementioned, should any lot been wrongly described in any material aspect, the buyer may reject the same, provided that he gives written the notice to do so and return the same to the auctioneer within seven (7) days from the day of the sale. Under no circumstances will the auctioneer be liable for any costs, expenses or damages incurred by the buyer in respect to any lot, including, but not limited to, loss of any kind of profit whatsoever. Bidders are advised to scrutinize the lots they bid for.
1. The auctioneer acts solely as an agent and shall not be responsible for any default by either the buyer or the seller or for any action or claim which may arise in respect of any lot.
2. Buyers must satisfy themselves as to the accuracy of their purchases at the time of delivery. The auctioneer cannot be held responsible for any discrepancy which might be discovered after the lots have been removed from either the auction room or the auctioneer's premises.
3. The auctioneer is not responsible for the safe custody of any lots left beyond seven (7) working days after the date of sale and reserves the right to charge storage and resell by auction or privately, and without notice to the buyer.
4. If any Auction invoice submitted by Auctioneer is not paid in full when due, the unpaid balance will bear interest at the highest rate permitted by law from the date of invoice until paid. Any invoice not paid when due will bear a Two & a Half percent (2 1/2 %) interest per month. If the Auctioneer refers any invoice to an attorney for collection, the buyer agrees to pay attorney's fees, court costs, and other collection costs incurred by Auctioneer.
5. After the auction, if during the transit or due to any other reason if auction lot/lots are lost than auctioneer is not liable to give the delivery of the said lot/lots.
6. Those bidders who have not paid their previous bills and also the bidders who are not known to whom auctioneer, in such circumstances auctioneer, has right to take the deposits from such bidders, and if they do not give deposits, the auctioneer has right to prevent such bidder to take part in the auction.
7. The auctioneer has a right to ask for photo identification (ID) proof from the bidder, issued by government or semi government authorities
8. The estimated figure below each lot is the auctioneer's estimate of an expected price only. Bids which are less than the lower estimate will not be considered by the auctioneer.
9. By making a bid the buyer acknowledges his/her acceptance of these Conditions and shall bound by them.
Each lot is listed with estimated price from X amount to Y amount, the BID Starting amount will be lower X amount. This estimate is a guide line for Bidders. These estimated prices are may not be actual amount.
Marudhar Arts offers Life-Time Guarantee of the genuineness of the items sold; Gold Purity may vary between 1 to 22 Carat.
Optional transit insurance is available for the lots only at the cost of 3% on the billed invoice.
1. Payment is due immediately upon the close of the auction. Payment is delinquent and in default, if not received in full, in good funds, within seven (7) calendar days of the Auction Sale (the "Default Date"), without exception, time being of the essence. Unless otherwise agreed in writing prior to the Auction Sale, all auction sales are payable strictly in immediately through Bank Transfer / Credit Cards (2% Surcharge). Buyers will be charged as all applicable taxes & levies
2. In any case if a Winning Bidder fails to pay the amount for the lot he/she has won, Auctioneer reserves all the rights to sell the lot(s) to any other bidders in the Auction that the lot(s) appeared, or relist the lot(s) in a future auction conducted by Auctioneer.
3. A defaulting Bidder agrees to pay for the reasonable costs of resale (including a 15% seller's commission if consigned to an auction conducted by Auctioneer). The defaulting Bidder's Membership Fee will be forfeited against the commission & if there is any difference in the amount is liable to it to the Auctioneer. The Defaulting Bidder will also be Black-Listed from the Auction House.
Buyer is responsible for shipping and handling charges. Lots won will be shipped within 7 days time after the full payment is received. International Bidders shall provide written shipping instructions, including specified customs declarations, to the Auctioneer for any lots to be delivered outside India. International Buyer has to pay their countries' Customs Duty and other levies which are applicable both in India and their country if any applicable.
A standard charge of 500 for Domestic & 2500 for International shipment will be charged on every Shipment.
1. The final value of the item shall be the item'(s) closing price + Buyer's Premium+ GST*+ shipping charges + insurance**. All shipping charges will be borne by the successful Bidder. On all domestic & international shipments, any risk of loss or tampering of the package during the transit will be borne by carrying Courier
2. Any request for shipping verification for undelivered packages must be made within 15 days of shipment by the buyer.
3. Bidders who bid are committed to making the payment as per the terms and conditions. So please ensure that you bid only if you can make the payment within the stipulated time. Non-payment by any Bidder will result in the bidder being banned for life from participating in any future auctions and the defaulting bidder's name & complete details will be advertised to all other auctioneers' across India and on all social media also. Please Bid thoughtfully after assessing your credibility yourself.
* As applicable.
A Winning Bidder has to pay Buyer's Premium i.e., 12.5% + Applicable GST / Government Taxes on the closing winning bid. Any changes in the rates of taxes etc will be met by the Buyer.
All matters are subject to Bangalore jurisdiction only.