INR0 - 9,999,999:
Condition of Lots: Condition of Lots: Lots are sold with general reference to any restorations,
imperfections or damage that may have occurred and verified by B&H.
However, B&H cannot be held responsible for any errors or omissions of
description in this respect. The prospective Buyer is strongly recommended
to view the Lot personally or have his representative do so, to satisfy himself as to the condition of the Lot.
Premium, Commission, Expenses and Taxes: Buyers' Premium: After winning the bid, the Buyer will have to pay B&H the hammer price in full in addition to which he/she will also have to pay a Buyer's Premium of 17% up to a value of Indian Rupees 1 (One) Crore and 15% on the excess thereafter, calculated on the hammer price. Please note that Live Online bidders might have a slightly different Premium structure that will be put up, whenever we offer the Live Online bidding option, either on B&H's website or directly on the interface providers' website if B&H uses the services of a third-party provider. In addition, all sales that take place within India are subject to a 14.5% VAT (Value Added Tax) / CST (Central Sales Tax), wherever applicable, on the winning bid value and a 12.36% Service Tax on the Buyers' Premium. A CST (Central Sales Tax) of 2% instead of the 14.5% VAT will be applicable on the winning bid value only if the Buyer takes delivery of the Lot outside the state of Karnataka and can provide the necessary documentation (C-Form) required by the Sales Tax authorities. The Service Tax on the Buyers' Premium will still apply at 12.36%. If the Lot is being exported out of India, then none of these charges would apply. Foreign nationals or entities are exempt from VAT/CST subject to customs clearance documents.
Please Note: On Gold, Silver and Jewellery items, VAT/CST is 1% and on Furniture& Carpets it is 14.5% VAT/CST
Sellers' Commission: B&H charges the Seller a Commission and any other handling charges (transportation, insurance, storage, photography etc) as per the agreed terms of business with sellers or consignors.
Payment: a. Time for Payment: Payment should be made as soon as possible after the Sale up to an absolute maximum of 3 days from the date of Sale.
b. Credit Card Payment: Credit Card Payments are accepted upon payment of a 3% surcharge on the full invoiced amount. In the event the Credit Card company declines a Credit Card payment, liability to B&H for the Total Price remains with the Buyer and should be settled immediately by an alternative method.
c. Cheque Payment: Lot/s will be released only after the cheque has been honoured and the funds are with B&H. Cheques should be made payable to 'Bid & Hammer Auctioneers (P) Ltd'.
d. Bank Transfer: Clearance will have to be sought from B&H prior to making a bank transfer. B&H's bank details are as follows - Bank Name: Syndicate Bank, Branch: 5th Block Jayanagar, Account Number: 0425/101/0004309, Swift Code: SYNBINBB118, IFSC: SYNB0000474, Account Name: 'Bid & Hammer Auctioneers (P) Ltd', City: Bangalore.
e. Transfer of Ownership: The Buyer shall not receive ownership of the Lot/s purchased until he makes payment of the Total Price for the Lot/s and until such payment is received as cleared funds by B&H.
f. Foreign Buyers: Foreign Buyers, including NRIs or Overseas Institutions with at least 60% of its shares owned by NRIs must effect payment in foreign convertible currency or India. Rupees paid from NRI accounts as per the Foreign Exchange Management Act, 1999.
g. Failure to pay: In the event the Buyer fails to pay within the stipulated 3 day period, B&H may cancel the Sale, proceed against the Buyer for the Total Price plus any costs incurred in the pursuance of the proceeds and resell the Lot to recover any or all of the outstanding costs. Any shortfall shall remain the responsibility of the Buyer to pay. Interest shall be charged at 2% per month pro rata on the Total Price from the 4th day after the Auction, until payment is received either from the Buyer in total or through resale in part, with the remainder from the Buyer. Should a Buyer who fails to pay have Lots with B&H for Sale, B&H may at its discretion withhold those items in lien of the outstanding payment or may dispose of them to recoup the outstanding payment.
Collection, Storage & Shipping: a. Collection of Lot/s purchased: This must take place within 7 days of the Auction, but not prior to payment by the Buyer of the Total Price and the clearance of said funds. All packing, insurance, transport and forwarding and the costs thereof relating to the items purchased shall be the responsibility of the Buyer alone and B&H can only facilitate the same, at its discretion, through its known partners.
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b. Non Collection/Storage: Should the Lot not be collected within the stipulated 7 days, B&H will charge storage charges at a rate of 1% of the purchase price pro rata per month. Should storage space be unavailable at B&H's Premises, B&H shall nominate a storage facility and all charges raised in transport to and storage at said facility including any insurance or other charges shall be passed on to the Buyer.
c. Buyers' Responsibility: Responsibility for any damage or loss occurring after the 7 day period stipulated above shall be solely at the Buyer's risk.
d. Shipping: Should the Buyer require B&H to arrange for collection and shipping this is a service B&H are happy to advise on entirely at cost to the Buyer. Any damage or loss occurring while goods are in the hands of shippers recommended by B&H shall be at the Buyer's risk.