Terms and Conditions (effective from 6th June 2024)

Payment defaulters name will be published on our website and the information will be shared to other auction houses worldwide as well. Please be clear before bidding.

1. A Buyer's Premium of 12.5% plus additional GST will be applied to the hammer amount. Shipping, insurance, and handling charges are extra.

2. Payment terms are strictly within 7 days, including Sunday or any kind holidays.

Introduction

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 it is applicable to the Indian Law. Auctioneer reserves the right to include its own item(s) in this auction sale as well as material form affiliated to companies, principals, officers or employees.

Auctioneer also reserves the rights:

To Reject or Cancel any bid at any time on any lot.
To withdraw any item from the auction.
To place the bids on behalf of the consignor up to the amount of reserves price established by the consignor, Auctioneer will not accept a reserve price a consignor above the high estimate shown in the catalogues for auction.

1. Registration:
∗ All bidders must register prior to bidding. Registration requires providing accurate and complete personal information, including name, address, phone number, and email ID.

∗ A valid form of identification may be required for verification purposes.

∗ Each bidder form has to be signed by the bidder. By filling up the form, the bidder shall be deemed to have undertaken to fulfil the conditions of the Auction. By making a bid, each buyer acknowledges his/her acceptance of these conditions and shall be bound by them.
2. Bidding Process
* The Auction is conducted in Indian Rupees Currency.
* Auctioneer will not be responsible for any errors in bidding (Typographical Error in Amount Figure), so make sure that every bid is entered correctly. 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.

* Auctioneer shall make maximum efforts to properly enter and execute bid received by email, fax or by other means. However, auctioneer shall not be liable for any errors for incorrectly entered on incorrectly executed bids. Bidders are responsible for their bids including any errors they may make in placing bids.
* 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.
*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 estimate price of each item is the genuine starting price.
*The auction house reserves the right to reject any bid that is deemed inappropriate or not in the best interest of the auction.

3. Buyer’s Premium, Services Tax & GST

A winning bidder has to pay 12.5% Buyer’s Premium (Commission) on Hammer Price & 18% GST will also be added to the Buyer’s Premium amount(Commission).
Plus 5% GST on the Hammered amount of Numismatic Items/Commodity (H.S.N. 9705), 3% GST on Gold and Silver Jewellery (HSN 7113), 5% GST on Philatelic Items/Commodity (HSN 9704) & 12% GST on Autographs and Others.

i.e. if 10000 INR is Hammer value then it will be approx. 12,000 (Including the GST + GST + Hammar Commissions).

4. Grading / Description / Photos / Weight
1. Bidder has to acknowledge that grading /description /weight for most of the coins in this sale has been determined by independent grading services / experts. Coins 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 catalogue are of 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 while viewing an item, he may either avail a high- resolution image which will be sent on request, if this not satisfy the bidder, the item may view physically. But all these measures are to 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 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 of any lot, including, but not limited to, loss of any kind of profit whatsoever. Bidders are advised to scrutinize the lots they bid for.

5. Delivery / Shipping / Handling Charges

*Delivery of the lot(s) will be done only once the full payments are received.

*Lots won will be shipped within 7 days of the auction's conclusion, unless prior arrangements have been made.

*A Standard shipping charges of Rs. 200 to 2000 is applicable as per invoice.

*The buyer is responsible for all costs associated with packing, shipping, and insurance. *The Marudhar Arts is not responsible for any damage or loss that occurs during transportation.

6. Genuineness / Guarantee

Marudhar Arts offers Life-Time Guarantee of the genuineness of the items sold (unless removed from its original packing, if item is removed from its original packing, Marudhar Arts will not be responsible for same).

7. Insurance

Optional transit insurance is available for the lots only at the cost of 2% on billed invoice.

8. Default

*If the buyer fails to comply with any terms of the sale, including failure to make full payment or to pick up purchased items, the auction house may, at its discretion, cancel the sale and retain any payments made as liquidated damages.

*The auction house reserves the right to pursue any remedies available by law to recover losses incurred due to the buyer's default.

9. Payment

*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) /CC Avenue {Payment Gateway} (2% Surcharge). Buyers will be charged as all applicable Taxes.

*In any case if a Winning Bidder fails to pay any amount for the lot(s) 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.

*A defaulting Bidder agrees to pay for the reasonable costs of resale (including a 12.5% 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 be Black-Listed from the Auction House.

10. Credit Note Policy

1. Issuance of Credit Notes

1.1 Credit notes may be issued by Marudhar Arts at its sole discretion in the following circumstances:

- Item returned due to damage not disclosed in the auction listing.

-Item returned due to a significant discrepancy from the description provided.
-Cancellations of sale by the auction house.
-Other situations as deemed appropriate by the auction house management.

2. Usage of Credit Notes

2.1 Credit notes (Credit Balance) can be used as a form of payment for future purchases at Marudhar Arts.

2.2 Credit notes cannot be redeemed for cash.

3. Time Limit to Issue a Credit Note

3.1 Credit note inclusive of GST:

-It should be declared on the earlier of the following dates:

-30th September of the following year in which such supply was made.

-The actual date of filing the annual return of the concerned period.

3.2 Credit notes for taxable amount only:

-If issued after 30th September of the following year in which such supply was made, only the hammer price will be refunded.

4. Fraud and Abuse

4.1 Any attempt to manipulate or fraudulently use credit notes will result in immediate cancellation of the credit note and potential barring from future auctions.

4.2 Marudhar Arts reserves the right to pursue legal action in cases of fraud or misuse.

5. Changes to Credit Note Policy

5.1 Marudhar Arts reserves the right to modify this credit note policy at any time. Changes will be effective immediately upon posting on our website or notification to affected individuals.

5.2 It is the recipient’s responsibility to review this policy periodically to stay informed of any changes.

11. Technical Glitches and Issues

11.1 Bidding Interruptions:

If any interruption occurs during the bidding process due to technical issues, software malfunctions, internet connectivity problems, or telephonic disruptions, Marudhar Arts reserves the right to pause, restart, or extend the bidding time as deemed appropriate.

11.2 Final Results Declaration:

In the event of a glitch affecting the declaration of the final results or the announcement of the winner, Marudhar Arts will take necessary steps to resolve the issue promptly. This may include re-evaluating bids, re- running the auction, or any other corrective measures.

11.3 Notification:

Affected bidders will be notified of any significant issues and the steps being taken to address them. Communication will be made through the contact information provided during registration.

11.4 Dispute Resolution:

In case of any disputes arising from technical glitches, Marudhar Arts' decision will be final and binding. The auction house reserves the right to make the final call on any disputed results.

11.5 Preventive Measures:

Marudhar Arts will take reasonable preventive measures to ensure the smooth functioning of the auction process. However, bidders are encouraged to ensure their own internet and telecommunication reliability to participate effectively in the auction.

12. Privacy

*The auction house is committed to protecting your privacy. Personal information collected during the registration process will be used solely for the purposes of conducting the auction and fulfilling legal obligations.

*Your information will not be shared with third parties without your consent, except as required by law.

13. Changes to Terms and Conditions

*The auction house reserves the right to modify these terms and conditions at any time. Changes will be effective immediately upon posting on our website or notification to bidders.

*It is the bidder's responsibility to review these terms and conditions periodically to stay informed of any changes.

14. Acceptance of Terms

* By registering for and participating in this auction, you acknowledge that you have read, understood, and agree to be bound by these terms and conditions.

Note:

1. 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.

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 make 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 future auctions and the defaulting bidders name & complete details will be advertised to all other auctioneers across India and on all social media. Please Bid thoughtfully after assessing your credibility yourself.

4. Marudhar Arts (Auctioneer) holds the right to revise, edit or make any necessary changes on a system generated invoice in case of any discrepancy found.

5. Marudhar Arts will not be responsible for any technical issue you may face at your end.

6. By making a bid the buyer acknowledges his acceptance of these Conditions and shall be bound by them.

7. These Conditions shall take effect and be construed in accordance with Indian law.

8. As per income Tax Amended Section 206C (w.e.f. 01.06.2016) if the Consideration (or any part of it) is received in cash for sale or any goods/provision of any service exceeding`. 2 Lac (Two Lacs). TCS @ 1% will be deducted. and the buyer have to provide PAN CARD details.

*Important Terms and Conditions*

*Disclaimer (1):* The items listed have been described to the best of our experts' knowledge regarding their attributes and quality. However, unintentional errors in descriptions may occur.

Please note that we will not accept returns based on differences in opinion or grading by third-party grading agencies compared to the descriptions or grades provided in our catalog. Returns will only be accepted in cases where the items are found to be non-genuine.

*Disclaimer (2):* Please note that NO BIDS will be CANCELLED once placed by any bidder, regardless of any claim that the bid button was pressed by mistake. With our new programming, bids cannot be placed without accepting the terms and conditions. Please be careful while bidding at all times.

Subject to Bangalore Jurisdiction.

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