Conditions of sale
These conditions for sale set out the terms on which We offer the Lots listed in this catalogue for sale on behalf of sellers, and if you make a successful bid, will form a contract for sale between you and the seller. By participating in this online auction, you acknowledge that you are bound by these conditions for sale as listed below and on the Website alturaashart.com You will find a glossary at the end explaining the meanings of the words and expressions which are in bold.
1. Company Details:
Alturaash Art and Artefacts DMCC (“Alturaash”), a company incorporated under Dubai Government Authority with DMCC, is primarily an art house, engaged in Art Auction, Art Advisory , Art Investment etc.
2. Limitation of Guarantees:
All Artwork offered on the Website is sold subject to the specific warranty and guarantee as to physical condition and title set forth. Other than as set forth in the specific warranty and guarantee, all artwork is sold to buyers "AS IS," and Alturaash makes no guarantees, warranties or representations, expressed or implied, to any buyer with respect to the artwork, including without limitation its merchantability, fitness for a particular purpose, quality, importance, provenance, exhibitions, literature or historical relevance of the artwork or otherwise. No statement anywhere, whether oral or written, shall be deemed such a guarantee, warranty or representation. Please note that Osian’s makes no representation or warranty as to whether the buyer acquires any reproduction rights or other intellectual property rights in the artwork.
3.Registration and viewing the Lots:
All Lots for sale are featured in the Auction Catalogue. The number listed next to each image is the ‘Lot number’ and should be used as a reference during bidding, or for any information requests. The Lots in this sale may be viewed through any of the following:
(i) The online Auction Catalogue;
(ii) The mobile Auction Catalogue
(iii) The Physical Auction Catalog
We may withdraw any Lot before, during, or after the online auction, if We have reasons to believe that the authenticity of the Lot or the accuracy of the description of the Lot is in doubt, or if there is a breach of Our terms of business, or if We otherwise believe, in Our sole discretion, that it would be improper to include the Lot in the auction. All lots shall be sold subject to the Reserve Price. If the winning bid is below the Reserve Price, the Lot shall be considered unsold. The Reserve Price on each Lot shall be confidential and We shall have no obligation to disclose the same to any bidder. Lots sold in "Absolute Auctions" or marked as sold with "No Reserve" are not subject to a Reserve Price and will be sold to the highest bidder, irrespective of the bid amount.
We have the sole and absolute discretion to:
(a) determine the form and content of the descriptions of Lots in the Auction Catalogue,
(b) granting bidding access to a bidder,
(c) recording, rejecting, or accepting bids, and
(d) deciding which bid constitutes the winning bid, if any.
Online bidding access, and access to the MobileApp and the telephone bidding facility, shall be given at Our discretion and We may set limits on the number of bids that may be made by a bidder and/or require payment guarantees or deposits as a precondition to giving bidding access to a bidder. Bidders will be informed of their bidding limits, if any, and will not be allowed to bid further if their bidding limit has been exhausted.
Bid updates and time extensions, if any, shall be updated on the Website. On the Website, bidders may refresh bidding values by clicking on the "Refresh" icon or the re-load/refresh buttons on their browsers, to view latest bid updates and time extensions, if any. We shall evaluate the bid histories of specific Lot groups periodically to preserve the efficacy of the auction process. This exercise may be conducted by Us internally or through third parties solely at Our discretion.
All bidders are required to provide complete and accurate invoicing details to Us at the time of registration for the auction and invoicing details once registered will not be changed. The bidder shall be invoiced based on details provided at the time of registering for the auction.
New bidders are advised to register at least 48 hours prior to the bid. Know-Your-Customer (KYC) documents and/or financial reference letters are required for individual and corporate clients and We will not grant bidding access if the bidder registration and KYC procedures are not complete.
For the convenience of bidders, in particular, bidders who are placing bids on more than one Lot, Lot groups are scheduled to close at different times during the auction.
The bidding for various Lot groups shall be closed in accordance with the bid closing schedule. However, a bid can be recorded by Us in the 2 minutes prior to the closing time of the Lot. The closing time for such Lot shall be extended to a time that is 2 minutes after the time that the last bid was made. In the event of an extension of closing time in accordance with this paragraph, bidding on the Lot shall only end if no bid is recorded by Us for a continuous period of 2 minutes. Bidders are advised to click on the "Refresh" icon on the Website page being viewed by them or on the "Refresh" button in the browser at regular intervals.
The Website shall also contain a "My Account" filtered view of the account information and the bidder may click on this link to access information on all bids made by the bidder in respect of various Lots. For ease of tracking bids, bidders are advised to assign bidding nicknames to themselves. The Website shall contain the bid history for each Lot, being the bid amounts that have been recorded since the start of the auction till the current highest bid; and a countdown clock indicating the amount of time available for placing bids before the closing time.
The bid history, current bid, and countdown clock shall be accurate at the time of downloading of those values. However, such information shall not reflect any changes in the bid history, current bid, and/or countdown clock that may have occurred during the time taken for this information to reach the bidder’s computer from Our server. The most updated bid values shall be shown only when the information on bid values is refreshed, which shall happen either automatically, or when a bidder clicks on the "Refresh" icon on the Website page, or on the "Refresh" or "Reload" button on his/her internet browser. After the values on the page have been refreshed, any changes in the bid history shall not be visible to the bidder until the values are refreshed again, whether automatically on the Website, or by the bidder.
When the countdown clock counts down to zero, in the case where the closing time in respect of a particular Lot has been extended by a further two minutes, the countdown clock may not reflect such extension. The bidder may wait for the values on the page to refresh automatically on the Website or click on the "Refresh" icon on the page, or on the "Refresh" or "Reload" button on his/her internet browser after the countdown clock has counted down to zero to determine whether the closing time has been extended for that Lot.
The countdown clock combined with the current highest bid as shown on the bid history on the Website shall only be an indication of the highest bid amount at the time when the values on the Website were refreshed. Should bidders want more frequent updates, they are advised to refresh values as described in paragraph 4 above in order to view the most updated bid history and countdown clock.
Bidders may download the MobileApp onto any mobile device that supports Android and iOS, and use it to place advance bids. To avail of this service, you must be registered as a bidder. We do not accept any liability in the unlikely event that a bid through the MobileApp is not executed or executed incorrectly.
In the unlikely event that the Website or MobileApp is inaccessible to bidders or partially disabled due to Technical Downtime at any time during the half an hour prior to the scheduled closing time of the auction for any of the Lot groups, the closing time of that Lot group and subsequent Lot groups will be extended by a duration of thirty (30) minutes. In case the Technical Downtime extends beyond the closing time for a particular Lot group, the Website and the MobileApp, as the case may be, shall, after the Technical Downtime, show the auction for the particular Lot group as closed. However, the closing time for such Lot group and subsequent Lot groups shall be extended by a duration of thirty (30) minutes and appropriate details of the extension shall be published on the Website shortly after recovery from the Technical Downtime. Bids recorded prior to any Technical Downtime will be treated as valid. We may however reopen some or all of the closed lots in a particular closed Lot group for bidding in the event bidding access to such lots was unavailable/ unresponsive/ restricted during the Technical Downtime, and appropriate details regarding the reopening of such lots shall be published on the Website shortly after recovery from the Technical Downtime.
We shall not be liable for any loss of information due to the Technical Downtime. The data logs of Our server will determine the duration of the Technical Downtime and any determination made by Us in respect of extension of the closing time shall be final.
Due to the nature of the internet and/or mobile traffic, there may be an unpredictable time-lag between a bidder placing a bid, and that bid being received by Us. Therefore, although a bidder may have placed his/ her bid prior to the closing time, the bid may be received by Us after the closing time for the Lot in respect of which the bid has been placed and shall, in such an event, be rejected. In order to prevent bids from being rejected in such a manner, bidders may set proxy bids/automatic bids on Lots that the bidder wishes to bid for.
Proxy bids may be recorded with Us 12 hours prior to the closing time, subject to the other provisions of these conditions for sale, including any limits imposed by Us on the number of bids that a bidder may place. Proxy bids are accepted from bidders once they have been given bidding access for the auction and may be entered prior to auction start and up until the auction closes.
Once a bid is registered in Our system, whether placed by an active bidder or by proxy, it is immediately and automatically displayed for all registered users to see.
Bidders are advised to keep their login ID and password secure at all times. We will hold the bidder responsible for all bids placed using their login ID and password, whether via the Website or through the Mobile App. Bidders choosing to bid via telephone are advised to reset their passwords at the close of the auction.
Our employees may not bid in the auction once the auction has started. They may, however, submit an absentee/proxy bid for an amount that may be equal to or above the lower estimate of a Lot before the auction commences. Once the auction has started, they may not increase their bid or alter it in any way.
Our auction platform does not allow any bids to be placed by Us on behalf of a seller. All bids recorded are from registered bidders.
We have the right to exercise reasonable discretion in setting bid increments, refusing any bid, advancing the bidding, withdrawing or dividing any Lot, combining any two or more Lots, and in the case of error or dispute, during or after the sale, determining the successful bidder, continuing the bidding, canceling the sale or re-offering and reselling the item in dispute. If any dispute arises after the sale, then, in the absence of any evidence to the contrary, the sale record maintained by Us will be conclusive.
We reserve the right not to award the winning bid to the bidder with the highest bid at the closing date if We deem it necessary to do so. We shall retain the right to display the results of the sale and Lot details sold by Us, including catalog descriptions and prices on the Website at all times, including after the completion of the sale. We regret that We cannot agree to requests to remove these details from the Website.
At Our discretion, proxy bids submitted on "no reserve" Lots will be executed at a minimum of 10% of the lower estimate of the relevant Lot if there is no competing bid and provided that the proxy bid amount is greater than such minimum value. Not with standing the above, in the event that there is a bid lower than such minimum value and there is no competing higher bid, then We may, at Our discretion, execute the Lot at such lower value.
6.Completing the Purchase:
We will raise invoices on the winning bidder for the Sale Price and Buyer’s Premium, applicable taxes on the sale of the Lots, and other additional charges that may be incurred by Us, if any, including shipping and handling of the Lots and additional levies. n any event, the Lots purchased will not be released or shipped out to the winning bidder or his/her representative until the winning bidder has fulfilled his payment and other obligations as described in these conditions for sale.
In respect of each sale at the auction, we shall charge a Buyer’s Premium of 10% of the winning bid value, in case of purchases with in UAE the VAT of 5% on the Buyer’s Premium shall be payable by the winning bidder.
The winning bidder shall be invoiced based on details provided at the time of registering for the auction. Winning bidders will be invoiced in USD. Payments must be made in the currency on the invoice in any of the following modes of payment.
(ii)Direct wire transfer
(iii) Any given currency preferences in specific lot such as Cryptocurrency. Please read special note in the catalog for such lot.
We and Our Affiliates will not be held responsible for any refusal or failure to accept modes of payment not outlined above. The winning bidder shall pay the Sale Price and Buyer’s Premium in full (including the applicable taxes and other charges, if any) within 7 (seven) business days from the date of invoice. Subject to the above paragraph, no shipment or delivery of the Lot will be made to the winning bidder if the Sale Price and Buyer’s Premium (including the applicable taxes and other service charges, if any) are not received by Us and until all proper documentation in connection with the sale of the Lot has been completed, and until the ownership along with registration of the Lot has not been transferred from the seller to the winning bidder. Payments will not be accepted from any parties other than the winning bidder as recorded on the invoice. Due to the prevailing COVID-19 global health crisis, buyers can expect a delay in shipping and delivery of the purchased Lot/s. Buyers will receive a notification from Us as and when the restrictions imposed by several countries around the world are relaxed or lifted and shipments resume.
The winning bidder acknowledges that We will abide by any export restrictions that may apply in the countries from where specific Lots will be shipped. The winning bidder shall also be responsible to ensure that the Lot(s) are freely importable into his/her country or to the country where the destination for delivery (as specified by the winning bidder) is located. If the winning bidder or We become aware of any restrictions to such import subsequent to the completion of the auction, the winning bidder shall provide an alternate delivery destination to Us. All costs associated with the process of delivery and storage (when required) of the Lot shall be borne by the winning bidder. The Lot(s) shall be handed over to the winning bidder or his/her nominee only upon full payment of all such costs.
Lots marked as "Art Treasures" and/or "Antiquities" under the Antiquities Act and Rules cannot be exported outside India, notwithstanding that the payment in lieu of such Lots may be received from the winning bidder in USD. If you are the successful bidder for any such Lot, you agree not to export such Lot outside of India. Each winning bidder is solely responsible for meeting the requirements of the Antiquities Act and Rules, or any related state legislation. Please note that the Lots are marked for your convenience only, and We do not accept any liability for errors or for failing to mark the Lots.
Non-payment: In case of payments are not received within 7 business days of each invoice, we shall treat the same as a breach of contract of sale by the winning bidder, and the seller may, in such an event, authorise Us to take any steps (including the institution of legal proceedings), as it may deem to be appropriate to enforce payment by the winning bidder.
7. Authenticity Guarantee:
All Artwork offered on the Website is sold subject to the specific warranty and guarantee as to physical condition and title set forth. Other than as set forth in the specific warranty and guarantee, all artwork is sold to buyers "AS IS," and Alturaash makes no guarantees, warranties or representations, expressed or implied, to any buyer with respect to the artwork, including without limitation its merchantability, fitness for a particular purpose, quality, importance, provenance, exhibitions, literature or historical relevance of the artwork or otherwise. No statement anywhere, whether oral or written, shall be deemed such a guarantee, warranty, or representation. Please note that Osian’s makes no representation or warranty as to whether the buyer acquires any reproduction rights or other intellectual property rights in the artwork.
Alturaash will process returns and refunds within 14 (fourteen) days of delivery, if for any reason the artwork is not acceptable to the buyer. Buyer will receive a full refund of the cost of the artwork less all shipping and handling costs as soon as the artwork is back in the original condition at the place from where the goods were shipped and a confirmation to this effect is received by Alturaash.
It is specifically understood and agreed that with respect to any of the representations or warranties set forth, the rescission of a sale and refund pursuant to this paragraph and General Terms and Conditions is the sole and exclusive remedy that is available to the buyer as a matter of law, or in equity. The buyer shall not be entitled to any incidental or consequential damages incurred or claimed.
10.Damage & Claim Policy:
When Alturaash delivers the artwork to the shipper for shipment to the buyer, the title to the artwork and risk of loss will pass to the buyer. If the buyer collects the artwork from Alturaash or the Seller in person, title to the artwork and risk of loss will pass to the buyer upon delivery to the buyer. If the artwork is damaged in transit, the buyer should contact the shipping agent and process a claim under the applicable insurance policy. Alturaash is not obligated to take an artwork back under this Agreement if the artwork was damaged in transit. Alturaash is obligated to ensure all artworks and to provide reasonable assistance to help the buyer resolve damage claims with the insurer.
If you come across or notice any material on our website that you believe infringes a copyright, please bring it to our notice immediately with the following details, so that we investigate and if appropriate, block or remove the material:-
Your name, address, contact number, and email address The name and address of the owner of the copyright interest;
1. A description of the copyrighted work that you believe has been infringed;
2. A physical or electronic signature of the person authorised to act on behalf of the owner of the copyright interest;
3. A clear identification of the material and its location in our website where you believe infringement;
4. Where you believe that the use is disputed and is not authorised by the copyright owner, its agent, or the law, a statement to this effect;
5. A statement that the above information in your notice is accurate and that you are the copyright owner or authorised to act on the copyright owner’s behalf.
Intellectual Property Rights:
All contents of this website including, but not limited to the text, concepts, logos, button icons. Images, graphics, audio clips, links, and sounds are the copyright of Alturaash or its content providers and may not be copied, downloaded, distributed, or published in any way or form without the prior written consent of Osian’s or its content providers. "Alturaash", are registered trademarks and service marks of “Alturaash, and no permission or licence is granted to use any such trademarks or service marks without the prior written consent of Alturaash. All other marks names and logos used on this website (unless otherwise stated) are the intellectual property rights held by companies within the Alturaash Group.
You hereby agree to indemnify and to keep Alturaash fully and effectively indemnified against any action, liability, cost, claim, loss, damage, proceeding or expense (including legal fees, costs, and expenses on a full indemnity basis) suffered or incurred by Alturaash arising from or which is directly or indirectly related to:-
(a) your access to and/or use of Alturaash website and/or any other person or entity's use of this service or website where such person or entity was able to access the service or web site using your user id and/or password; or
(b) any breach or non-observance of any of these terms and conditions by you or by any other person or entity where such person or entity was able to access and/or use the web site by using your user id and login password.
11. Payment in Cryptocurrency:
When we announce to accept cryptocurrency for our auction or for any specific Lot, we shall notify the detail in catalog note or special note of that particular lot. For the acceptance of crypto and its exchange and other information related to wallet and documents, please read the below guideline.
The bidding for such lots will be in USD only and we will raise the invoice in cryptocurrency equivalent to the winning bid amount in USD, successful bidder can transfer the cryptocurrency to our given wallet, in case of a downfall in current rates the difference in rates at the time transferring crypto to us will be payable by the successful bidder as par given tax invoice of winning bid in USD.
Please note that you may elect to make payment of the purchase price for this lot in the cryptocurrency Ether and Bitcoin. Payment in Ether or Bitcoin is made via a digital wallet transfer of Ether to Alturaash. The digital wallet must be maintained with Coinbase Custody Trust; Coinbase, Inc.; Fidelity Digital Assets Services, LLC; Gemini Trust Company, LLC; or Paxos Trust Company, LLC. Only Ether and Bitcoin payments sent from digital wallets maintained at these platforms will be credited towards this lot purchase, and we will not recognize payments from digital wallets hosted at other exchanges or self-hosted wallets. The digital wallet must be registered to you, or, if you registered a bid as a company, then in the name of the company. You agree, upon our request, to provide documentation confirming that the crypto payment was made from a digital wallet registered in your name and maintained at one of the platforms listed above. Partial payments of a lot from multiple digital wallets will not be allowed.
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