Page 159 - Pundole's Auction M0015

HOW TO BUY AT PUNDOLE’S
Pundole’s auctions are open to the public during preview. Clients who are
registered with us are welcome to attend our auctions. Each sale will have a
catalogue available to view online approximately 3 weeks before the sale.
Printed catalogues will be available for select sales approximately 2 weeks
before the sale. Both the online and printed versions provide detailed
descriptions and estimates for each lot, but we strongly encourage
prospective buyers to inspect all lots they are interested in, in person, before The following shall be furnished at the time of registration:
the sale. If this is not possible, please contact us to request a condition
report.
A more detailed explanation of our registration and bidding requirements is
provided below.
All property sold at Pundole’s is subject to the Terms and Conditions of Sale
printed in the catalogue. Please familiarise yourself with them as they will
facilitate the sale process.
BIDDING
Prospective buyers may bid in an auction either by being present in the
saleroom, bidding on the telephone, leaving absentee bids for the auctioneer
to execute on their behalf, or, bidding with Pundole’s LIVE online from a
computer or any mobile device.
All bidders need to complete the registration process, as explained in the
Registration section below.
To bid in an auction, all buyers should register with Pundole’s in advance.
Buyers can bid in their individual capacity or on behalf of a corporate or other
entity.
Bidding in the Saleroom
Once registration formalities are completed, please collect a paddle from the
Registration Desk on the day of the sale. A photo identification will be needed
when the bidder collects the paddle.
Telephone Bidding
Registered bidders unable to attend the sale can make arrangements with
Pundole’s to bid on the telephone. As these will be accepted on a first come
first serve basis, please try to make these arrangements at least 24 hours
before the start of the auction.
Absentee / Written Bids
Registered bidders may also choose to leave Absentee Bids which the
auctioneer will execute on their behalf during the sale. Please note that
absentee bids should indicate the maximum limit per lot. All written bid
amounts left should be in Indian Rupees and at the ‘hammer price’, i.e.:
buyer’s premium will be added to the final bid amount should the bid be
successful. The auctioneer will try and buy the lot at the lowest possible price constitute a representation, warranty or assumption of liability by Pundole’s
above or at the reserve for the specified lot.
For any clarifications regarding the registration process and setting
up telephone or absentee bids, please contact Mallika Advani at
mallika@pundoles.com or +91 98202 96510.
Online / Mobile Bidding
Registered bidders may log in and bid online for certain auctions on the day
of the sale. Please complete all registration formalities before the auction
begins as first time bidders will be required to provide additional information
as outlined in the registration process below. If bidding with Pundole’s for the made to the best of Pundole’s knowledge, and are their opinion.
first time, please ensure this procedure is adhered to, as immediate approval
to bid may not be given in the event the auction has already begun.
Bidders will be able to follow the auction with Pundole’s LIVE through an
audio and/or video feed place their bids accordingly. The auction may be
followed by downloading our mobile bidding application (available for Apple
and Android devices) or on Google Chrome.
In the event of any technical difficulties online, bidders may call Pundole’s to
try and be accommodated for a telephone bid, subject to availability.
Registration
Bidders may register in person at the Pundole’s office or online through the
website.
?A completed registration form
?Bank account details as stated on the registration form (name of
account and number, banker’s reference, etc.)
Supporting documents for an individual:
?Copy of a valid government issued photo identification, including proof
of address, i.e.: Passport, Driving License
?Copy of PAN card
Supporting documents for a corporate or other entity:
?A copy of the certificate of incorporation
?A utility bill bearing the same address as on the form
?Copy of VAT / TIN registration certificate
?A Board Resolution authorising the selected representative of the
Company to bid in the auction on its behalf and bind the Company,
together with photo identification of such representative
Only registered bidders will be allowed to bid in the auction. A letter of
authorisation shall be produced by any person bidding on behalf of another
person or entity. (Authorisation Form available on request.)
PROCESS
Viewing Works
All works will be on view prior to the sale. Bidders are encouraged to view the
works in person and discuss the condition with a representative from
Pundole’s. Written condition reports are also available upon request. Please
ensure that you request a condition report from Pundole’s on the lots that
may be of interest, prior to the sale. Condition Reports broadly will provide
details and information to the best of Pundole’s abilities, and Pundole’s
cannot be held liable for any information that is erroneously provided or not
mentioned. These reports have not been done by trained conservators. We
encourage you to get an additional professional assessment should you
need. Condition reports will broadly state the physical and visible, damaged
and restored areas of the artwork. If there is an area specifically mentioned, it
does not exclude other similar areas, and if there is a problem not mentioned,
it does not mean that they do not exist. Any statement by Pundole’s does not
of any kind.
Auction
The sale will be conducted in Indian Rupees.
All works have a price range or estimate indicated in the catalogue. The
estimate is the value assigned by Pundole’s to each work, keeping in mind
comparable market examples for objects and the artists’ larger body of work
for art works. Estimates are only indicative prices, and do not include buyer’s
premium or any taxes, which will be additional. All catalogue descriptions are
All works are sold subject to a reserve unless specifically indicated
otherwise. The reserve is the minimum price at which the consignor has
agreed to sell the work at, and in no case will exceed the low estimate of a
work. All reserves are kept confidential. Therefore, any bids below the
reserve will not be considered by the auctioneer to be a ‘selling price’.
Lots are usually opened for bidding below the low estimate, and increased in
increments of approximately 10%. Any absentee bids that do not meet a
standard bidding increment will be rounded down to the previous one. All
increments are solely at the discretion of the auctioneer.
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