ALIVE: EVENING SALE OF MODERN AND CONTEMPORARY ART (17 SEPTEMBER 2020)

 WEBINARS  In 2020, our Dialogues in Art platform evolved to include a
webinar series featuring renowned speakers, scholars and experts
who explore a range of topics on art, history, jewellery and
culture - including legendary artist Krishen Khanna, Indian art
collector Kiran Nadar, and eminent curator Dr. Amin Jaffer,
among others.

201

WINTER LIVE AUCTION

MODERN INDIAN ART

 DECEMBER 2020 

Bhupen Khakhar, Untitled (The Bathing Ghat), 1994 S H Raza, Paysage, 1960
Saffronart, 5 – 6 December 2018 Saffronart, 9 – 10 December 2019
Estimate: Rs 2.45 – 3.15 crores ($350,000 – 450,000)
Estimate: Rs 2.5 – 3.5 crores ($362,320 – 507,250) Sold for Rs 3.23 crores ($462,000)
Sold for Rs 6.21 crores ($900,000)

 ACCEPTING CONSIGNMENTS 

[email protected]
Mumbai: +91 22 6855 4100 | New Delhi: +91 11 2436 9415

New York: +1 212 627 5006 | London: +44 20 7409 7974

202

WINTER ONLINE AUCTION

MODERN AND CONTEMPORARY
INDIAN ART AND COLLECTIBLES

 DECEMBER 2020 

Manjit Bawa, Untitled, 2004 V S Gaitonde, Untitled, 1987 Jagannath Panda, Untitled, 2004
Saffronart, 5 – 6 December 2018 Saffronart, 9 – 10 December 2019 Saffronart, 6 – 7 December 2017
Estimate: Rs 48.3 – 62.1 lakhs ($70,000 – 90,000) Estimate: Rs 35 – 45 lakhs ($50,000 – 64,290) Estimate: Rs 12 – 15 lakhs ($18,750 – 23,440)
Sold for Rs 1.2 crores ($174,000) Sold for Rs 15.5 lakhs ($24,300)
Sold for Rs 50.4 lakhs ($72,000)

A Balasubramaniam, Exposed Self, 2004 Sita Devi, Untitled, Circa 1970s
Saffronart, 27 – 28 May 2020 Saffronart, 26 – 27 February 2013
Estimate: Rs 2.8 – 3.2 lakhs ($5,385 – 6,155)
Estimate: Rs 12 – 15 lakhs ($16,220 – 20,275) Sold for Rs 5.23 lakhs ($10,068)
Sold for Rs 16.1 lakhs ($21,795)

 ACCEPTING CONSIGNMENTS 

[email protected]
Mumbai: +91 22 6855 4100 | New Delhi: +91 11 2436 9415

New York: +1 212 627 5006 | London: +44 20 7409 7974

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When Saffronart first launched in 2000, we collaborated with galleries to spotlight modern and contemporary
Indian art to both a global audience and the growing collector base in India. Twenty years later, we are excited to

relaunch this partnership as an avenue for leading Indian art galleries to showcase
a diverse selection of artists and exhibitions. Together, we present Saffronart Partner Galleries to a new

generation of art lovers as well as established collectors worldwide.

Interested in partnering with Saffronart?
Contact us

[email protected] or +91 78382 91339

204

ONGOING EXHIBITIONS

AKAR PRAKAR
From the Shadows: Ganesh Pyne

Kolkata

Tracing an important period in Ganesh Pyne's practice, From the
Shadows features his famous tempera works from the 1970s, as well as
drawings and a collection of painted postcards exchanged between the

artist and his close friend.

Ganesh Pyne, Woman Sowing, early 1970s

CHATTERJEE & LAL
Outside
Mumbai

Outside is a group exhibition exploring ways in which artists engage
with the world, through a variety of modes, including humour, parody,
and technical virtuosity. Many of the works acknowledge the fact that
our perception of what is ‘outside’ is mediated by the people we are

and the bodies we inhabit.

Nityan Unnikrishnan, Everything Is Beautiful, 2018

SAKSHI GALLERY
Breathing through Shifting Scapes

Curated by Jesal Thacker
Mumbai

Breathing through Shifting Scapes traces the geological, ecological and
political shifts across time through the artistic practices of twelve

contemporary artists, including Lakshman Rao Kotturu, Ratna Gupta,
Sujith SN, Suhasini Kejriwal, among others.

Suhasini Kejriwal, Beadon Street, 2019 - 2020

CHAWLA ART GALLERY
Utopia: Group Show
New Delhi

Utopia reflects the private search of artists in the labyrinth of aesthetic
possibilities, presenting the best artworks of our modern

and contemporary tradition, unbound by mechanical or arbitrary
divisions, moving between the abstract and the figurative, between

sculpture and painting.

Paresh Maity, Light In Banaras Ghat, 2014

THE GUILD
Building Biographies

Mumbai

Building Biographies presents a selection of artworks by artists
Gulammohammed Sheikh, Navjot Altaf, Ram Rahman and

Riyas Komu, as an attempt to map the way architectural sites
become citation grounds for reflecting on visual, spatial,
political and environmental concerns.

Navjot Altaf, From The Series How Perfect Perfection Can Be, 2015 - 2017

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ACCEPTING CONSIGNMENTS

Every Tuesday from 8 am – 8 pm, bid on a selection of works across categories—from
modern and contemporary Indian art, folk and tribal art, to exquisite jewellery and
one-of-a-kind collectibles—all at no reserve.

Tanzanite and Diamond Earrings Lalu Prasad Shaw, Untitled, 2019
Absolute Tuesdays: Jewellery Edition, 28 April 2020 Absolute Tuesdays, 21 May 2020
Estimate: Rs 5 – 7 lakhs ($6,760 – 9,460)
Estimate: Rs 1 – 1.5 lakhs ($1,355 – 2,030) Sold for Rs 43.5 lakhs ($58,808)
Sold for Rs 2.01 lakhs ($2,724)

The Statesman, 15 August 1947 (Full Newspaper of 10 Pages) Temple Puppets, Orissa, Circa 20th Century
Absolute Tuesdays: Rare Books Edition, 19 May 2020 Absolute Tuesdays: Living Traditions, 18 August 2020
Estimate: Rs 15,000 – 20,000 ($205 – 275)
Sold for Rs 3.29 lakhs ($4,447) Estimate: Rs 4 – 5 lakhs ($5,410 – 6,760)
Sold for Rs 9.6 lakhs ($12,973)

Contact us
[email protected] or +91 22 6855 4100

206

ACCEPTING CONSIGNMENTS

Every Friday, StoryLTD offers five lots for five hours on auction at no reserve.
Tune in between 3 – 8 pm IST to bid on a different category every time,
from art and antiquities to jewellery, design and collectibles.

Dancing Krishna, Tamil Nadu, 13th Century Period Camphor Chests
Friday Five, 5 June 2020 Friday Five, 31 July 2020
Estimate: Rs 1.7 – 2.2 lakhs ($2,300 – 2,975)
Estimate: Rs 5 – 7 lakhs ($6,760 – 9,460) Sold for Rs 2.96 lakhs ($4,009)
Sold for Rs 12.24 lakhs ($16,860)

Contact us
[email protected] or +91 22 6855 4100

207

PRIME PROPERTIES 2020

Featuring an enchanting villa located in the gated community of
Homage—outside of Rishikesh on the slopes of the Garhwal Himalayas
surrounded by lush forest reserves and fresh water streams—that will

transport you to a world of tranquillity and peace.

CONTACT US

MUMBAI NEW DELHI NEW YORK LONDON

+91 22 6855 4100 +91 11 2436 9415 +1 212 627 5006 +44 20 7409 7974
[email protected] [email protected] [email protected] [email protected]



FREQUENTLY ASKED QUESTIONS

How do I view the lots? How do I register to bid?
All lots for sale are featured in this auction catalogue. The
number listed next to each image is the lot number and should Bidders are advised to register at least 24 hours in advance
be used as a reference during bidding or for any information of the sale. Bidders may choose to register online or send in
requests. The lots in this sale may be viewed through any of their details to Saffronart and we will process the details for
the following: you. Saffronart requires the following details from a first time
(i) Viewings – Details listed on the Sales and Enquiries bidder to register and process an approval to bid:

section of the printed catalogue (i) Name
(ii) The online auction catalogue available on saffronart.
(ii) Address
com
(iii) The printed auction catalogue (iii) Telephone Number
(iv) The mobile auction catalogue available for download on
(iv) Email Address
your mobile device
(v) Know Your Customer (KYC) documents
What do you mean by ‘Condition of Lots’?
All lots will be shipped out in an ‘as is’ condition, meaning that (vi) Credit card information/financial references/deposits
the lot is sold with all existing faults and imperfections. Due to
the prevailing COVID-19 global health crisis, some of the lots In some cases, Saffronart may request for a bidding limit value
for sale may not be available for viewing or physical inspection which is a per lot limit based on your current bid value.
until further notice. Saffronart encourages all potential buyers
to inspect each lot carefully before bidding and to not rely If you have bid or been approved to bid with Saffronart before,
on an illustration of any lot given in the catalogue. Condition please use your Saffronart login and password to accept the
reports for all Lots are available as a free service, online or upon conditions for sale online. Collecting a paddle in a live auction
request. also implies an acceptance of the Conditions for Sale. Please
note the invoicing details provided at the time of registration
What are special lots? cannot be changed after the sale.
Lots marked as “Art Treasures” and/or “Antiquities” under the
Antiquities and Art Treasures Act, 1972 cannot be exported How do I Bid?
outside India. Buyers are solely responsible for meeting the
requirements of the Antiquities and Art Treasures Act, 1972 (i) Bidding in the Room: All approved bidders, including
or any related state legislation. those who have registered online, will be handed a
paddle to bid in the auction. Please bring a proof of
What are Price Estimates? identity to collect your paddle. Registrations open 30
Each lot has a price range listed. These estimates are based minutes prior to the sale.
on characteristics of the lot such as condition, quality, rarity,
provenance. These estimates are provided only as a guide (ii) Bidding Online: Bidders may view and hear the auction
for buyers and do not include Buyer’s Premium or applicable on their PC or Mac with our real-time online video feed
taxes. If applicable there is a link for pricing achieved for similar from the auction room. Online bidders may place a bid
art works at auction available next to the lot in the online by clicking on the “Bid Now” button when their lot of
catalogue. Price estimates may be subject to revision. interest is open for bidding. If their bid is accepted by the
auctioneer, it will be recorded. After you enter your bid,
What is a Reserve Price? it is advisable to view the bid history to verify that your
Unless stated otherwise, all lots offered in the auction are bid has been recorded. Please note that bidders may be
subject to a reserve price, which is the minimum price that the contacted during the auction for bid verification in order
lot may be sold for. No lot will be sold below its reserve price to protect all bidders and maintain the efficacy of the
and the reserve price will not exceed the low price estimate. process.
Reserve prices are confidential and will not be disclosed.
(iii) Bidding on the Phone: Saffronart accepts requests
210 from bidders to place bids on the phone with our
staff depending on availability. To avail of this service,
you must be registered as a bidder. Please note that
the number of telephone lines available for telephone
bidding may be limited and this facility is provided at
Saffronart’s discretion.

(iv) Bidding on the Mobile: Bidders may download a What is Buyer’s Premium?
software application from Saffronart onto their iOS or
Android mobile device and use it to place bids during Saffronart charges the buyer a premium on the winning bid
the sale. To avail of this service, you must be registered as value. The  Buyer’s Premium is calculated at the rate of 20%
a bidder. of the winning bid value on each lot up to and including INR
20,00,00,000/ USD 2,700,000; 15% of the winning bid value in
(v) Absentee/Proxy Bids: Bidders may place bids prior to excess of INR 20,00,00,000/ USD 2,700,000 up to and including
the sale either online or in writing by submitting the INR 30,00,00,000/ USD 4,000,000; and 12% of the winning bid
absentee/proxy bid form. See the Absentee/Proxy Bid value in excess of INR 30,00,00,000/ USD 4,000,000. For lots
Form available at the back of the printed catalogue, or being shipped within and/or from India, a GST (Goods and
on the website. Absentee/proxy bids shall be accepted Services Tax) at applicable rate on the Buyer’s Premium shall
up to a certain time prior to the sale which will be listed be to the account of the Buyer. This is applicable for deliveries
online. within India as well as overseas.

What are bid increments? How will I be invoiced?
Any new bid must be greater than the current highest bid
by a minimum increment. The next valid bid amount is the If you win a bid, you will be sent an email after the close of
current highest bid plus the minimum increment value. The the auction, containing an invoice for the winning bid plus
auctioneer may vary the increments during the course of additional charges (shipping, handling, duties and taxes as
the auction at his or her discretion. Online bids however, are applicable) and the Buyer’s Premium plus GST at applicable
accepted only at the next valid bid based on the minimum rates. The invoicing details provided at the time of registration
increment. Please refer to the bid increments printed at the will be used to raise the invoice and no changes will be
back of the catalogue (on the reverse of the Absentee/Proxy accepted after the sale. For lots located in India, winning
Bid Form). bidders located in India will be invoiced in INR and all other
winning bidders will be invoiced in USD. For all out of India
Can a bid be cancelled? lots, marked with the symbol , winning bidders will be
No bid may be cancelled by a bidder. Saffronart reserves the invoiced in USD. Payments must be made in the currency on
right to cancel a bid at its discretion if it considers it necessary the invoice.
to do so.
You may review acceptable modes of payment described in
What is the currency of bidding? the section below. If you are the winning bidder, you are legally
For all lots located in India, the currency of bidding is INR. bound to purchase the item from Saffronart. Please note that
However, buyers with an invoicing address outside India are purchases will not be shipped out until payment has been
invoiced in USD at the exchange rate fixed for the sale. Bids for received and cleared.
all out of India lots, marked with the symbol , may be placed
only in US Dollars (USD). Please see the exchange rate section What are additional charges?
in our Conditions for Sale online.
All post-sales expenses, including packing, insurance, shipping
What is an Opening/Start Bid? or handling charges, are borne by the buyer. Shipping will be
The opening/start bid is the value at which the auction house charged on courier rates and are determined by the value,
starts the bidding on a particular lot. origin and destination of the package. Local deliveries will be
charged at actuals.
When does a lot sell?
The fall of the auctioneer’s gavel shall mark the close of bidding You may choose to make your own arrangements for shipping
on each lot. The final bid announced by the auctioneer and handling. However, all documentation requirements
is considered a winning bid in the sale, if the auctioneer must be complied with. Please contact us for further details.
announces the lot as sold.
What are the Duties and Taxes applicable on my purchase?

All duties and taxes applicable shall be borne by the buyer
and will depend on the value, origin and destination of the
package.

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(i) Deliveries in India for lots originating in India For Buyers in India

Any sale of lots originating from India to an address Payment can be made in INR only by the following acceptable
in India is subject to a GST at applicable rates on the modes of payment:
winning bid value and an 18% GST on the Buyer’s
Premium. The final charges will be determined at the (i) Cheque/Demand Draft: To be made in favour of Saffron
close of the auction and will be sent by email to the Art Private Limited
winning bidder.
(ii) RTGS/NEFT: Details will be included with the invoice
(ii) International shipments for lots originating in India and available upon request

For lots originating from India, an 18% GST on the (iii) Credit card: up to INR equivalent of USD 5,000
Buyer’s Premium is applicable. There may be duties
and taxes levied depending on the delivery destination For Buyers outside India
which typically will be on the total of the winning bid
and shipping and handling values. Depending on the Payment can be made in USD only by the following acceptable
shipping address, these duties and taxes vary according modes of payment:
to customs regulations in the destination country. Any
shipments to EU countries will be charged an additional (i) Cheque: To be made in favour of Saffron Art Private Limited
VAT as applicable. Please contact Saffronart for further
details. (ii) Direct wire transfer: Details will be included with the
invoice and available upon request
For imports, the terms of sale are Delivered Duty
Unpaid (DDU). It is the Buyer’s responsibility to pay all (iii) Credit card: up to USD 5,000
international duties, customs charges, taxes and tariffs
to the respective authorities. Normally, the couriers we (iv) Payment from an NRE account: The invoice will be
contract will pay import duties on behalf of the buyer raised in USD based on the winning bid value, and the
and get reimbursed at the time of delivery. buyer will have to transfer an equivalent INR amount at
the bank exchange rate
(iii) Shipments and Deliveries for lots originating outside
India (lots marked with the symbol   ) When will my purchases be delivered/can I collect my
purchases?
Lots  marked with    are not situated in India and
therefore, may only be bid for and purchased in USD. Purchases shipped out within 10 - 15 business days of the
Persons residing in India, wishing to bid in USD must be payment being cleared and are insured under the terms of
eligible under the various foreign exchange regulations Saffronart’s insurance policy (please note that frames are not
to make payments overseas. Please contact Saffronart insured). If there is an expected delay in dispatch, the buyer
for further details. will be informed of the delay via email, unless the buyer has
indicated an alternative preferred mode of communication.
In the event that the lot is to be shipped internationally,
additional charges for international shipments For lots located in India, Buyers may choose to collect their
mentioned in the above section shall apply. purchases from the Saffronart office in Mumbai. In such cases,
buyers are requested to make an appointment to collect
Please Note: Lots may require permits for import or purchases within 10 - 15 business days of completion of all
be subject to import restrictions to certain countries. payments and documentation formalities. Buyers who have
Potential buyers are advised to check import regulations completed payment formalities and have not taken delivery
prior to making a bid decision. of their lots from Saffronart within 30 days of the completion
of payment formalities will be charged storage and insurance
How do I make payment? at applicable rates.

Buyers will be required to complete payment within a period What documentation will I receive with my purchases?
of 7 business days from the receipt of the invoice via email.
If you have not received your invoice within 48 hours of the Upon confirmation of delivery or receipt of shipment, we
close of the sale, please contact us. will send you the invoices for your purchases along with any
relevant documentation for the lot that has been mentioned
212 in the lot details. Please note that Saffronart does not issue
any authenticity certificates and does not provide artist
authenticities either.

What if my shipment reaches damaged?
All purchases from this sale are final. In the unlikely event of
your receiving a damaged product, please notify Saffronart
directly within five days of receipt of the lot. Please call or email
us at any of our locations mentioned in the Sales and Enquiries
section. If Saffronart does not receive any notification within
7 business days of delivery, it shall be assumed that the lot
has been received in good condition, and no claims will be
entertained.
What are some of the symbols used next to the lots in
auction?
(i) Lots marked with indicate that Saffronart owns the lot

in whole or in part or has an economic interest in the lot
equivalent to an ownership interest.
(ii) Lots marked with    are not situated in India and
therefore, may only be bid for and purchased in USD.
Persons residing in India, wishing to bid in USD must be
eligible under the various foreign exchange regulations
to make payments overseas. Please contact Saffronart
for further details.
How do I participate in your next auction?
If you would like to register to bid or consign to any of our
upcoming auctions please contact any of our locations listed
in the Sales and Enquiries section.
If you would like to stay informed of Saffronart’s upcoming
events, please register with us online at saffronart.com.

213

CONDITIONS FOR SALE

These conditions for sale set out the terms on which We offer to purchase a Lot, and the acceptance of a bid as the
the Lots listed in this catalogue for sale on behalf of the seller, winning bid by Us shall result in an enforceable contract
and if you make a successful bid, will form a contract for sale of sale between Us, acting solely as the agent of the seller,
between you and the seller. and the winning bidder.

By participating in this auction, you acknowledge that you are 3. Catalogue Descriptions and Condition of Lots
bound by these conditions for sale as listed below and on Our
Website saffronart.com. You will find a glossary at the end 3.1 We offer all Lots for sale at the auction on an “as is” basis,
explaining the meanings of the words and expressions which meaning that each Lot is sold with all existing faults
are in bold. and imperfections. Due to the prevailing COVID-19
global health crisis, some of the Lots for sale may not be
1. Eligibility and Compliance available for viewing or physical inspection until further
notice. We encourage all potential buyers to inspect
1.1 We have been granted a valid licence under the each item carefully before bidding.
Antiquities Act and Rules for conducting the auction of
Lots which are Antiquities and for dealing in Antiquities 3.2 Size description/s of all the Lots featured in the Auction
as a part of the Lots being auctioned. Catalogue are approximate. We encourage all potential
buyers to inspect each item carefully before bidding.
1.2 We have verified the valid registration of the Antiquities
in the name of the relevant sellers as required under the 3.3 Any statements made by Us, including by Our
Antiquities Act and Rules. representatives/employees, about any Lot, whether
orally or in writing, concerning attribution of such Lot
1.3 We will have no ownership interest in any Lot which is to, for example, any school of art or craftsmanship,
an Antiquity, till the receipt of full payment by Us (in country or origin, history, provenance or condition, are
our capacity as the auctioneer working on behalf of only expressions of Our opinion or belief. Such opinions
and under directions of the seller) in respect of such or beliefs have been formed honestly in accordance
Antiquity from a winning bidder in accordance with with the standard of care expected of an auction house,
paragraph 6.7 below. Upon receipt of full payment having due regard to the estimated value of each Lot. We
by Us from the winning bidder, the ownership of the have not carried out any exhaustive research or analysis
Antiquity along with its registration (as required under on any Lot to be sold in this auction, and potential
the Antiquities Act) will be transferred/delivered by buyers should seek appropriate advice on the condition
the Seller to the winning bidder in accordance with the of each Lot from their own professional advisors.
provisions of these conditions for sale.
3.4 For the convenience of bidders, We provide condition
1.4 The possession of the Lots which are Antiquities has reports on Lots upon request free of charge. Bidders
passed from the respective sellers to Us within the may please note that We have not carried out physical
territory of India in accordance with the provisions of inspection of some of the Lot/s, and have relied on the
the Antiquities Act and the Rules, and the sellers have representations made by the Seller as to the condition
intimated the Archaeological Survey of India of such of such Lots. The report includes Our bona fide opinion
transfer of possession of the concerned Antiquity from on the condition of the Lot and is not an alternative to
such seller to Our designated premises. viewing and inspecting a Lot by a bidder, or a bidder’s
duty to seek independent advice on the Lot, including
2. Our role as the agent of the Seller: its description, condition and authenticity.

2.1 We undertake to sell Lots through this auction as agents 3.5 The bidders undertake to:
for and on behalf of sellers. Unless stated otherwise, We
have no ownership interest or any other financial interest (i) inspect and satisfy themselves prior to the auction as to
in any of the Lots. the condition and description of the Lot;

2.2 Making a bid by raising one’s hand or paddle in the (ii) rely on their own judgment as to whether the Lot
auction room, submitting an absentee/proxy bid, matches its description; and
communicating a bid over the telephone to Our
representative or bidding on Our Website and/or (iii) not rely on an illustration of any Lot given in the Auction
through the MobileApp constitutes an irrevocable offer Catalogue.

214

3.6 Neither We nor any of Our Affiliates, agents, be changed. Winning bidders shall be invoiced based on
representatives, employees or directors shall be liable for details provided at the time of registering for the auction.
errors or omissions in any of the representations made in
the Auction Catalogue or otherwise, with respect to the 4.7 New bidders are advised to register at least 48 hours prior
authenticity, description or condition of any Lot for sale to the bid. Know-Your-Customer (KYC) documents and/
through this auction. or financial reference letters are required for individual
and corporate clients and We will not grant bidding
4. Viewing the Lots and Bidder Registration access if the bidder registration and KYC procedures are
not complete.
4.1 All Lots for sale are featured in the Auction Catalogue.
The number listed next to each image is the Lot number 5. Bidding
and should be used as a reference during bidding, or for
any information requests. The Lots in this sale may be 5.1 Our auctioneer will accept bids from the bidding room,
viewed through any of the following: from telephone bidders, from online/mobile bidders,
and absentee/proxy bids submitted in advance of the
(i) Viewings – details listed in the ‘Sales and Enquiries’ auction, either online or through a written form. Our
section; auctioneer has complete discretion on whether to
accept an online/mobile bid, a room bid, a telephone bid
(ii) the online Auction Catalogue; or an absentee/proxy bid at any given time. Bids once
placed by a bidder may not be cancelled. We reserve the
(iii) the printed Auction Catalogue; and right to reject, accept and/or cancel a bid at Our sole
and absolute discretion.
(iv) the mobile Auction Catalogue.
5.2 Bidding in the Room: All approved bidders, including
4.2 We may withdraw any Lot before, during, or after those who have registered online, will be handed a
the auction, if We have reasons to believe that the paddle to bid in the auction. Please bring a proof of
authenticity of the Lot or the accuracy of the description identity to collect your paddle. Registrations will be
of the Lot is in doubt, or if there is a breach of Our terms made open 30 minutes prior to bidding.
of business, or if We otherwise believe, in Our sole
discretion, that it would be improper to include the Lot 5.3 Bidding Online: Bidders may view and hear the auction
in the auction. on their PC or Mac with Our real-time online video feed
from the auction room. Online bidders may place a bid
4.3 All Lots shall be sold subject to the Reserve Price. If the by clicking on the “Bid Now” button when their Lot of
winning bid is below the Reserve Price, the Lot shall interest is open for bidding. If their bid is accepted by
be considered unsold. The Reserve Price on each Lot Our auctioneer, it will be recorded. We do not accept
shall be confidential and We shall have no obligation to any liability in the unlikely event that an online bid is not
disclose the same to any bidder. executed or executed incorrectly.

4.4 We have the sole and absolute discretion to (i) provide 5.4 Bidding on the Telephone: We accept requests from
bidding access, whether in the saleroom, online, via bidders to place bids on the telephone with Our staff
telephone or through an absentee/proxy bid; (ii) provide depending on availability. To avail of this service, you must
entry to the auction room and assign paddles; (iii) be registered as a bidder in accordance with paragraph 3
disallow bidders from entering into the auction room or above. Please note that the number of telephone lines
from bidding; and (iv) ask bidders to surrender paddles available for telephone bidding may be limited and this
at any time. facility is provided at Our sole and absolute discretion.
We do not accept any liability in the unlikely event that
4.5 We may set limits on the value of bids that may be a telephone bid is not executed or executed incorrectly,
made by a bidder and/or require payment guarantees or or in the event of faulty telephone connections or the
deposits as a precondition to giving bidding access to a bidder not being reachable.
bidder. Bidders will be informed of their bidding limit, if
any, and will not be allowed to bid further if their bidding 5.5 Bidding on the Mobile Application: Bidders may
limit has been exhausted. download Our MobileApp onto any mobile device that
supports Android and iOS, and use it to place advance
4.6 All bidders are required to provide complete and
accurate invoicing details to Us at the time of registration 215
for the auction. Invoicing details, once registered, will not

bids during the auction. To avail of this service, you must response to other bidders, provided such bids are less
be registered as a bidder in accordance with paragraph than the Reserve Price. Our auctioneer will not place
4 above. We do not accept any liability in the unlikely bids on behalf of the seller for Lots that are offered with
event that a bid through the MobileApp is not executed no Reserve Price.
or executed incorrectly.
5.12 At the discretion of Our auctioneer, proxy bids submitted
5.6 Absentee/ Proxy Bids: Bidders may place bids prior to on “no reserve” Lots will be executed at a minimum of
the sale either online or in writing by submitting the 10% of the lower estimate of the relevant  Lot  if there
absentee/proxy bid form. Absentee/proxy bids may be is no competing bid, and provided that the proxy bid
accepted or refused at Our sole and absolute discretion. amount is greater than such minimum value.

5.7 Currency of Bidding: 5.13 Our employees may not bid in the auction once the
auction has started. They may, however, submit an
(i) Bids for Lots located in India may only be placed in absentee/proxy bid for an amount which may be equal
Indian Rupees (INR). to or above the lower estimate of a Lot before the
auction commences. Once the auction has started, they
(ii) Bids for all out of India Lots, marked with the symbol , may not increase their bid or alter it in any way. Our
may be placed only in US Dollars (USD). employees may bid in charity auctions that are held on
Our auction platform.
(iii) The foreign currency exchange rate used is constant
during the auction, and has currently been set at 1:74 5.14 Sellers are not allowed to bid on the particular Lot/s
(USD:INR). Prior to the start of the auction, We may at they have consigned otherwise than as permitted under
Our discretion change the exchange rate used, based these conditions for sale.
on fluctuations in market exchange rates. The estimates
for individual Lots have been ‘rounded off’ for ease of 5.15 A currency converter may be in operation in the
reference and may not reflect the exact exchange rate saleroom for the convenience of bidders. We accept no
used for bid calculations. liability for any malfunction in the currency converter.

5.8 Technical Downtime: In the unlikely event that Our 5.16 We and Our auctioneer (acting on Our behalf) have
Website or MobileApp is inaccessible to bidders or the right to exercise reasonable discretion in setting bid
partially disabled due to Technical Downtime at any increments, accepting and refusing any bid, advancing
time, the auction will continue in the saleroom, unless the bidding, withdrawing or dividing any Lot, combining
specifically discontinued at Our sole and absolute any two or more Lots, and in the case of error or dispute,
discretion. Bidders may contact Us during such during or after the sale, determining the successful
Technical Downtime to bid by telephone, subject to bidder, continuing the bidding, cancelling the sale or
availability. We accept no liability for any Technical reoffering and reselling the item in dispute. If any dispute
Downtime. Online or mobile bids recorded prior to or arises after the sale, then, in the absence of any evidence
after any Technical Downtime may be treated as valid. to the contrary, the sale record maintained by Us and
We shall not be liable for any loss of information due to Our auctioneer will be conclusive.
the Technical Downtime. The data logs of Our server
will determine the duration of the Technical Downtime. 5.17 Any new bid will normally be accepted at a value greater
Any determination made by Us in respect of recording than the current highest bid by a minimum increment,
of bids shall be final. which applies to each bid value. The next valid bid
amount is the current highest bid plus the minimum
5.9 Mobile and Internet Networks: Due to the nature of increment value. Our auctioneer may, from time to
mobile and internet traffic, there may be an unpredictable time, allow a bid in the saleroom at a lower or higher
time-lag between a bidder placing a bid, and that bid increment than the minimum increment. Online and
being received by Us. We accept no liability for such time mobile bids however, are accepted only at the next valid
lags owing to mobile and internet networks. bid based on the minimum increment.

5.10 Bidders are advised to keep their login ID, password 5.18 Subject to the discretion of Our auctioneer, the highest
and paddle secure at all times. We will hold the bidder bidder accepted by Our auctioneer will be the winning
responsible for all bids placed by using their paddle bidder and the fall of Our auctioneer’s gavel shall mark
or login ID and password, whether via Our Website, the close of bidding on each Lot. Our auctioneer may,
through the MobileApp or in the sale room. at his/her discretion, re-open bidding on a Lot after the
fall of the gavel if a higher bid placed prior to closing was
5.11 Our auctioneer may place bids on behalf of sellers inadvertently not accepted.
either by placing consecutive bids or by placing bids in

216

5.19 We and Our auctioneer (acting on Our behalf) may, at For USD payments
Our sole and absolute discretion, choose not to award
the winning bid to the winning bidder with the highest 1. Cheque
bid, if We deem it necessary to do so.
2. Direct wire transfer
5.20 We shall retain the right to display the results of the
sale and Lot details sold by Us, including catalogue 3. Credit card: up to USD 5,000
descriptions and prices on Our Website at all times,
including after the completion of the sale. We regret that NOTE: Payments in excess of USD 5,000 must be made
We cannot agree to requests to remove these details through a wire transfer or cheque. We and Our Affiliates will
from Our Website. not be held responsible for any refusal or failure to accept
modes of payment not outlined above.
6. Completing the Purchase
6.5 The winning bidder shall pay the Sale Price and Buyer’s
6.1 We will raise invoices on the winning bidder for the Sale Premium in full (including the applicable taxes and
Price and Buyer’s Premium, applicable taxes on sale of other charges, if any) within 7 (seven) business days
Lots and other additional charges that may be incurred from the date of invoice. No shipment or delivery of the
by Us, if any, including shipping and handling of the Lot Lot will be made if the Sale Price and Buyer’s Premium
and additional levies. (including the applicable taxes and other service charges,
if any) are not received by Us and until all proper
6.2 The title to the Lots marked with   shall pass from the seller documentation in connection with the sale of the Lot
to Us outside the territory of the United States of America. has been completed. We will not accept payments from
any parties other than the winning bidder as recorded
The title to the Lots purchased shall pass to the winning on the invoice.
bidder at the time that bidding is closed for each Lot
and such winning bidder shall thereafter assume full risk 6.6 The winning bidder acknowledges that We will abide by
and responsibility for such Lots. In any event, the Lots any export restrictions that may apply in the countries
purchased will not be released or shipped out to the from where specific Lots will be shipped. The winning
winning bidder or his representative until the winning bidder shall also be responsible to ensure that the Lot/s
bidder has fulfilled his payment and other obligations as is freely importable into his country or to the country
described in these conditions for sale. where the destination for delivery (as specified by the
winning bidder) is located. If the winning bidder or
6.3 In respect of each sale at the auction, We shall charge We become aware of any restrictions to such import
a Buyer’s Premium calculated at the rate of (i) 20% subsequent to the completion of the auction, the
of the winning bid value of up to and including INR winning bidder shall provide an alternate delivery
20,00,00,000/ USD 2,700,000, (ii) 15% of the winning destination to Us. All costs associated with the process
bid value in excess of INR 20,00,00,000/ USD 2,700,000 of delivery and storage (when required) of the Lot shall
up to and including INR 30,00,00,000/ USD 4,000,000, be borne by the winning bidder. The Lot/s shall be
and (iii) 12% of the winning bid value in excess of INR handed over to the winning bidder or his nominee only
30,00,00,000/ USD 4,000,000. A GST applicable on the upon full payment of all such costs.
Buyer’s Premium shall be payable by the winning bidder
on Lots located and shipped within and/or from India. 6.7 Lots marked as “Art Treasures” and/or “Antiquities” under
the Antiquities Act and Rules cannot be exported
6.4 The winning bidder shall be invoiced based on details outside India, notwithstanding that the payment in lieu
provided at the time of registering for the auction. For of such Lots may be received from the winning bidder
lots located in India, winning bidders located in India will in USD. If you are the successful bidder for any such
be invoiced in INR and all other winning bidders will be Lot, you agree not to export such Lot outside of India.
invoiced in USD. For all out of India lots, marked with Each winning bidder is solely responsible for meeting
the symbol , winning bidders will be invoiced in USD. the requirements of the Antiquities Act and Rules, or
Payments must be made in the currency on the invoice any related state legislation. Please note that the Lots
in any of the following modes of payment. are marked for your convenience only, and We do not
accept any liability for errors or for failing to mark the
For INR payments Lots.

1. Cheque/Demand Draft 6.8 Non payment: In case payments are not received within
7 business days of each invoice, We shall treat the same
2. RTGS/NEFT
217
3. Credit card: up to INR equivalent of USD 5,000

as a breach of contract of sale by the winning bidder, and (ii) For properties characterised as “precious objects (other
the seller may, in such an event, authorise Us to take any than artworks)”, We guarantee characteristics or features
steps (including the institution of legal proceedings), as mentioned in all capital letters in the heading of the
it may deem to be appropriate to enforce payment by “Description of the Lot” in the Auction Catalogue (in
the winning bidder. In addition, the winning bidder will the case of the MobileApp Auction Catalogue, the
be charged demurrage at 1% of the total value (winning characteristics or features mentioned in all capital letters
bid plus Buyer’s Premium) or INR 10,000 per month, may be displayed in a position other than the heading)
whichever is higher, till the date of actual payment. till such time that the Lot is in Our possession. We do
not guarantee any other attribute of such Lot. Further,
6.9 Failure to collect: If the winning bidder informs Us that all coloured stones, unless certified, may or may not be
he/she wishes to collect the Lot from Us in person and treated for enhancements.
if such Lot is not collected by the winning bidder within
30 days of the payment formalities being completed, 7.2 The authenticity guarantee does not apply to title
We shall arrange for storage of the Lot at the winning heading or part of a title heading which is qualified. A title
bidder’s expense, and shall only release the Lot after heading is qualified when it is limited by a clarification or
payment has been made, in full, of the Sale Price and limitation in all capital letters in the title heading of the
Buyer’s Premium, including storage and insurance at Lot in the Auction Catalogue.
applicable rates.
7.3 The authenticity guarantee does not apply if the title
6.10 With respect to Lots which are Antiquities, pursuant to heading of the Lot in the Auction Catalogue, as on the
the ownership along with registration of the Antiquity date of auction or as amended by any saleroom notice,
being transferred from the Seller to the winning bidder either is in accordance with the generally accepted
in accordance with the provisions of the Antiquities opinion of experts, or indicates that there is a conflict of
Act and Rules, if the winning bidder informs Us that opinion of such experts.
the winning bidder wishes to collect the Antiquity
from Us in person and such Antiquity is not collected 7.4 The authenticity guarantee does not apply if it is proved
by the winning bidder within 30 days of the registration that the title heading of the Lot in all capital letters in the
formalities being completed, We shall arrange for storage Auction Catalogue, is not authentic only by scientific
of the Antiquity at the winning bidder’s expense, and means or processes which, on the date We published
shall only release the Antiquity after payment has been the Auction Catalogue, was not generally available
made, in full, of the Sale Price and Buyer’s Premium, or accepted, or which was unreasonably expensive or
including storage and insurance at applicable rates. impractical to use, or which was likely to have caused
damage to the Lot, or which was likely to have caused
6.11 We shall be entitled to exercise a lien on the Lot for loss of value to the Lot.
payment of any sums due to Us from the winning
bidder, including the Sale Price, Buyer’s Premium or 7.5 In the unlikely event that within one year from the sale
costs relating to storage and insurance where they are of the Lot through auction, it is proved by the winning
to be borne by the winning bidder, in relation to any Lot bidder, to Our reasonable satisfaction, that the Lot was
purchased by the winning bidder. not authentic and if, in Our opinion, bidders being aware
of such error or omission would have bid significantly
7. Authenticity Guarantee less than the actual Sale Price, We shall be entitled to
rescind the sale, and the seller will be liable to refund to
7.1 We provide a limited guarantee on the authenticity of the winning bidder the Sale Price paid for the Lot.
the Lots for a period of one year from the date of the
auction of such Lots. We only guarantee, subject to 7.6 The guarantee above shall be subject to the following
the qualifications below, the information mentioned in conditions:
all capital letters in the title heading of the Lot in the
Auction Catalogue. We do not guarantee any other (i) the claim is made by the winning bidder as registered
attribute of such Lot even if such other attribute is in all with Us and if the winning bidder has owned the Lot
capital letters. continuously between the date of auction and the date
of claim (the benefit of the claim is not assignable to any
(i) For properties characterised as “art work”, We guarantee subsequent owners or others who may acquire or have
only the authorship with reference to the name of the an interest in any of the Lots);
artist till such time that the Lot is in Our possession. We
do not guarantee any other attribute of such Lot; and (ii) the concerned property in the Lot is returned to Us in
the same condition that it was in at the time of delivery
218 of such property in the Lot to the winning bidder; and

(iii) the concerned property in the Lot is indisputably the Subject to the authenticity guarantee above, neither
same as purchased through the auction. Our suppliers nor Us, nor any of Our employees or
agents, shall be responsible, either for the correctness
Once We obtain the refunded amount from the seller, of any statements as to the authorship, origin, date, age,
We shall forward the same along with the amount attributes or genuineness of any Lot in the sale, or for any
charged by Us as the Buyer’s Premium to the winning mistakes in the description of the Lots, or for any faults
bidder. We shall not be accountable to the winning or defects in the Lots, or for any other act or omission
bidder for any taxes, shipping, handling or any other whatsoever. We offer no guarantee or warranty other
charges that may have been applicable at any time from than the limited guarantee set out in Clause 6 above.
the sale of the Lot till the claim.
9.2 The rescission of the sale and the refund of the total Sale
7.7 All such claims will be handled on a case-by-case basis, Price paid by the winning bidder is the sole remedy that
and in the case of an authenticity claim, We will require may be sought by a winning bidder, and such remedy
that examinable proof, which clearly demonstrates that is exclusive and in lieu of any other remedy which may
the Lot is not authentic, is provided by an established otherwise be available under law. We shall not be liable
and acknowledged authority. Our decision in respect of for any incidental or consequential damages incurred or
such claims shall be final and binding. claimed.

7.8 In all cases, We retain the right to consult with, at the 10. Copyright
expense of the winning bidder, two recognised experts
in the field (such experts being mutually acceptable to All content of Our Auction Catalogue, the print catalogue,
Us and the winning bidder), to examine the Lot under eCatalogue and content on the Website and MobileApp are
question before deciding to rescind the sale and offer the copyright protected in favour of “Saffronart”. All trademarks,
refund under the guarantee set out above. The opinion names, brand names, etc. used in the print Auction
of the experts shall not be binding on Us. Catalogue and on the Website and MobileApp are either
trademarks or registered trademarks of Saffronart, or of their
7.9 In the event of the seller’s failure to refund the proceeds as respective owners. Any rights not expressly granted herein
stated in this paragraph, the winning bidder shall return are reserved. No image, illustration or written material maybe
the concerned property in the Lot to Us and authorise used or required without Our prior written permission. We
Us as its agent to initiate legal proceedings against and the seller(s) make no representation or warranty that the
the seller. Any such steps taken or legal proceedings winning bidder of a Lot will acquire any copyright or other
instituted by Us against the seller shall be to the cost of reproduction rights in it.
the winning bidder.
11. Legal Notices
8. Privacy of Personal Information
11.1 We may validly serve a bidder with a legal notice, if
8.1 We will maintain the confidentiality of your personal required, by the following means:
information as disclosed to Us and undertake to not
disclose such information to any third party, unless (i) sending an email to the email address disclosed by the
otherwise required by law or a governmental authority. bidder to Us; or

8.2 The winning bidder agrees to maintain the confidentiality (ii) sending a courier to the address disclosed by the bidder
of the information about the seller, including name to Us.
and address, as mentioned in any Antiquity related
document/s. 11.2 Such legal notice shall be deemed to have been properly
served:
9. Extent of Our Liability
(i) in the case of email transmission: on the date of the
9.1 We have an obligation to refund the Sale Price and transmission; and
Buyer’s Premium to the winning bidder only in the
circumstances described above (in paragraph 7). (ii) in case of transmission by courier: 2 business days after
Damages to, or losses or loss in value of any of the Lots the dispatch of the notice by courier.
(excluding frames) incurred during shipping and transit
are covered as per the insurance policy obtained by 12. Waiver
Us. In case the winning bidder opts out of insurance
coverage arranged for by Us, We shall not entertain any No failure or delay in exercising any right, power, privilege
claims for damage or loss during shipping and transit. or remedy under these conditions for sale shall in any way
impair or affect the exercise thereof or operate as a waiver
thereof in whole or in part. No single or partial exercise of any

219

right, power, privilege or remedy under these conditions for GLOSSARY
sale shall prevent any further or other exercise thereof or the
exercise of any other right, power, privilege or remedy. Affiliates: Planet Saffron Inc., Saffron Art Private Limited and
their holding or subsidiary companies as on the date of the
13. Severability auction.
If any part of these conditions of sale between the winning
bidder and Us is found by any court of law to be invalid, illegal Antiquities Act: The Antiquities and Art Treasures Act, 1972
or unenforceable, that part may be discounted and the rest and any amendments made thereto from time to time.
of the conditions shall be enforceable to the fullest extent
permissible by law. Antiquity/Antiquities: An antiquity as per Section 2 of
the Antiquities Act and registered under the provisions of
14. Governing Law and Jurisdiction Sections 14 and 16 of the Antiquities Act.
14.1 These conditions for sale are subject to the laws of:
(i) India, in the event that the seller is located in India; and Auction Catalogue: The catalogue published by Us, whether
(ii) The United States of America, in the event that the seller in print, on the MobileApp or on the Website, containing
details of the auction along with the description, price and
is located in any jurisdiction other than in India. other details of Lots to be offered for sale at such auction.
Such laws shall apply to the construction of the In case of any discrepancy between the print Auction
conditions for sale and to the effect of the provisions Catalogue, the MobileApp Auction Catalogue, the online
thereof. Auction Catalogue and/or the eCatalogue, the online
14.2 All parties are subject to the exclusive jurisdiction of Auction Catalogue, as modified by Us from time to time,
courts at: shall take precedence.
(i) Mumbai, Maharashtra, India, in the event that the seller
is located in India; and Buyer’s Premium: The amount charged by Us from a winning
(ii) New York, USA, in the event that the seller is located in bidder for services rendered by Us, in accordance with these
any jurisdiction other than in India. conditions of sale, in connection with the purchase of Lots by
the winning bidder.
15. Symbols used in this catalogue
Lots marked with indicate that Saffronart owns the GST: Goods and Services Tax
Lot in whole or in part or has an economic interest in the
Lot equivalent to an ownership interest. Lot/Lots: A property, including an Antiquity, to be offered
Lots  marked with    are not situated in India and at the auction, or two or more properties/ Antiquities to be
therefore, may only be bid for and purchased in USD. offered at the auction as a group.
Persons residing in India, wishing to bid in USD must be
eligible under the various foreign exchange regulations MobileApp: Mobile application developed by Us, Saffronart,
to make payments overseas. Please contact Saffronart in Saffronart’s capacity as Our service provider providing a
for further details. mobile auction platform for the auction.

Our/Us/We: Saffron Art Private Limited, acting either on its
own behalf, or as a representative of any of its Affiliates.

Reserve Price: The minimum price that a seller has
communicated to Us as being acceptable for the sale of a Lot
through an auction.

Rules: The Antiquities and Art Treasure Rules, 1973 and any
amendments made thereto from time to time.

Sale Price: The price at which a Lot is sold to the winning
bidder, exclusive of the Buyer’s Premium, applicable taxes on
sale of properties and other additional charges that may be
incurred by Us, if any, including shipping and handling of the
Lot and additional levies.

Technical Downtime: The time period during which Our
server or Website or mobile application is not in operation
due to a malfunction.

Website: Saffronart’s website (www.saffronart.com), in
Saffronart’s capacity as Our service provider providing an
online auction platform for the auction.

220

ALIVE • 17 SEPTEMBER 2020

ABSENTEE/PROXY BID FORM

To enter absentee/proxy bids, please sign the completed form and email it to [email protected]. You may also submit
absentee/proxy bids online. For additional information, please refer to our "Frequently Asked Questions (FAQs)" section at the back
of the catalogue or on the Saffronart website.
“I request Saffronart, without legal obligation on its part, to bid on the Lots listed below, up to the maximum price I have specified.
I agree that my Bid will be treated as an offer and is subject to the Conditions for Sale listed in the catalogue and on saffronart.com.
I understand that Saffronart is accepting written Bids for the convenience of clients and I will not hold it liable for failure to record
my Bid. I understand that a maximum Bid, once recorded, may not be cancelled.”

Please print clearly in capital letters. Please mention the lot number and description accurately (artist name, title). Bidders are required to provide all invoicing details
prior to the sale. The bidder as registered with Saffronart will be invoiced, and no invoices will be changed after the sale.

Lot No. Artist/Description Maximum Bid Amount in USD / INR

Name: Email: Country:
Address:
City: Pin/Post Code:
Tel (mobile): Tel (office/home):
Saffronart username:

Signature:

221

BIDDING INCREMENTS

Bidding begins below the lower estimate, and increases in steps, or increments. The next valid bid is based on the increments listed
below. If bidders enter a proxy bid online, the next bid is placed at the minimum incremental value.

INR 10,000 – 20,000 by INR 1,000 USD 1,000 – USD 2,000 by USD 100

INR 20,000 – INR 50,000 by INR 2,000, 5,000, 8,000 USD 2,000 – USD 5,000 by USD 200, 500, 800
(e.g. INR 22,000, 25,000, 28,000) (e.g. USD 2,200, 2,500, 2,800)

INR 50,000 – INR 1,00,000 by INR 5,000 USD 5,000 – USD 10,000 by USD 500

INR 1,00,000 – INR 2,00,000 by INR 10,000 USD 10,000 – USD 20,000 by USD 1,000

INR 2,00,000 – INR 5,00,000 by INR 20,000, 50,000, 80,000 USD 20,000 – USD 50,000 by USD 2,000, 5,000, 8,000
(e.g. INR 2,20,000, 2,50,000, 2,80,000) (e.g. USD 22,000, 25,000, 28,000)

INR 5,00,000 – INR 10,00,000 by INR 50,000 USD 50,000 – USD 100,000 by USD 5,000

INR 10,00,000 – INR 20,00,000 by INR 1,00,000 USD 100,000 – USD 200,000 by USD 10,000

INR 20,00,000 – INR 50,00,000 by INR 2,00,000, 5,00,000, 8,00,000 USD 200,000 – USD 500,000 by USD 20,000, 50,000, 80,000
(e.g. INR 22,00,000, 25,00,000, 28,00,000) (e.g. USD 2,20,000, 2,50,000, 2,80,000)

INR 50,00,000 – INR 1,00,00,000 by INR 5,00,000 USD 500,000 – USD 1,000,000 by USD 50,000

INR 1,00,00,000 – INR 2,00,00,000 by INR 10,00,000 USD 1,000,000 – USD 2,000,000 by USD 100,000

INR 2,00,00,000 – INR 5,00,00,000 by INR 20,00,000, 50,00,000, 80,00,000 USD 2,000,000 – USD 5,000,000 by USD 200,000, 500,000, 800,000
(e.g. INR 2,20,00,000, 2,50,00,000, 2,80,00,000) (e.g. USD 2,200,000, 2,500,000, 2,800,000)

INR 5,00,00,000 – INR 10,00,00,000 by INR 50,00,000 USD 5,000,000 – USD 10,000,000 by USD 500,000

Above INR 10,00,00,000 at auctioneer’s discretion Above USD 10,000,000 at auctioneer’s discretion

Bids for lots 1 ‒ 34 and and 50 ‒ 75 will only be accepted in INR. Bids for lots 35 ‒ 49 will only be accepted in USD. Equivalent currency values displayed
on our website are for your convenience and are subject to change depending on the exchange rate for the auction.

The auctioneer may vary the increments during the course of the auction at his or her discretion.

For more details, please refer to our Conditions for Sale.

1. I agree and consent to paying the Buyer’s Premium calculated at the rate of 20% of the winning bid value on each Lot up to and
including INR 20,00,00,000/ USD 2,700,000; 15% of the winning bid value in excess of INR 20,00,00,000/ USD 2,700,000 up to and
including INR 30,00,00,000/ USD 4,000,000; and 12% of the winning bid value in excess of INR 30,00,00,000/ USD 4,000,000. All
applicable duties and taxes, and shipping and handling charges shall be borne by me.

2. I understand that if Saffronart receives identical absentee/proxy Bids, and if these Bids are the highest for the Lot, Saffronart will
sell the Lot to the Bidder whose Bid it received and accepted first.

3. I understand that absentee/proxy Bids submitted on “no reserve” Lots will be executed at a minimum of 10% of the lower estimate
(the "Minimum Value"), if there is no competing Bid, and the absentee/proxy Bid amount is greater than the Minimum Value.

For New Bidders
If you have not previously registered with saffronart.com, please create a username on our website. To participate in this auction, you
will have to pre–register with your login details. When contacted by our representative, please provide a proof of identity and address
document, such as a copy of an official photo identity card (either a PAN Card, National Identity Card, Passport or Driver’s Licence).
Once your documents are verified, you will be given access to bid. You may also call our auction helpline at +91 22 6855 4100.

222

INDEX

Lot 33 p. 97 Lot 40 p. 121 Lot 70 p. 174 Lot 14 p. 43
AMRITA SHERGIL K H ARA

Lot 15 p. 45 Lot 16 p. 47 Lot 12 p. 27
MANJIT BAWA
BADRI NARAYAN JEHANGIR SABAVALA

Lot 68 p. 172 Lot 36 p. 109 Lot 21 p. 61
MANJIT BAWA N S BENDRE JOGEN CHOWDHURY

Lot 62 p. 161 Lot 57 p. 155 Lot 32 p. 95

223

V S GAITONDE F N SOUZA

Lot 13 p. 33 Lot 26 p. 74 Lot 35 p. 103 Lot 2 p. 13

F N SOUZA

Lot 3 p. 14 Lot 10 p. 25 Lot 27 p. 77 Lot 28 p. 81 Lot 41 p. 123
F N SOUZA
JAGDISH SWAMINATHAN MEERA MUKHERJEE

Lot 69 p. 173 Lot 42 p. 125 Lot 34 p. 101
JAMINI ROY

Lot 1 p. 12 Lot 50 p. 141 Lot 51 p. 142

224

NATARAJ SHARMA ASIT KUMAR HALDAR

Lot 39 p. 118 Lot 25 p. 73
M F HUSAIN

Lot 6 p. 17 Lot 7 p. 19 Lot 18 p. 51 Lot 19 p. 55
M F HUSAIN

Lot 20 p. 59 Lot 29 p. 85 Lot 30 p. 89 Lot 46 p. 133
M F HUSAIN

Lot 53 p. 145 Lot 54 p. 149 Lot 55 p. 151

225

KRISHEN KHANNA

Lot 17 p. 49 Lot 43 p. 126 Lot 63 p. 162 Lot 64 p. 167
S H RAZA
TYEB MEHTA GANESH PYNE

Lot 59 p. 157 Lot 71 p. 175 Lot 22 p. 63 Lot 23 p. 65
S H RAZA B PRABHA

Lot 37 p. 113 Lot 45 p. 131 Lot 8 p. 20 Lot 65 p. 169

RAM KUMAR

Lot 9 p. 21 Lot 24 p. 71 Lot 31 p. 93 Lot 44 p. 127

226

RAM KUMAR G RAVINDER REDDY SURENDRAN NAIR

Lot 52 p. 143 Lot 72 p. 177 Lot 74 p. 183
M SIVANESAN SATISH GUJRAL THOTA VAIKUNTAM

Lot 11 p. 26 Lot 56 p. 153 Lot 67 p. 171
JAGANNATH PANDA A A ALMELKAR
K K HEBBAR

Lot 75 p. 184 Lot 66 p. 170 Lot 58 p. 156

SUBODH GUPTA ZARINA HASHMI

Lot 38 p. 116 Lot 49 p. 138 Lot 60 p. 158

227

ZARINA HASHMI BHARTI KHER PRODOSH DAS GUPTA

Lot 61 p. 159 Lot 73 p. 180 Lot 5 p. 16

SANKHO CHAUDHURI NATVAR BHAVSAR AMARNATH SEHGAL

Lot 47 p. 135 Lot 48 p. 137 Lot 4 p. 15

228

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