FRANCISNEWTONSOUZA
5-9DECEMBER2019
• FlexiPayscheme forbuyersat ourauctions
•Bespokesolutions for consignors andcollectors
• Fastdecisionsandquickdisbursals
• Flexible tenorsand repaymentoptions
•Noearlyexit feespayable
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FRANCISNEWTONSOUZA WORKSONPAPER
FROMTHECOLLECTIONOFRAVIANDUMAJAIN
SALE NUMBER: 1903
ONLINE AUCTION
DECEMBER5 -9, 2019
‘WhatYouBidis WhatYou Pay’
‘BidNowPayLater’
December5,2019
9:00a.m. onwards
UAEStandard Time
December9,2019
7:00 p.m. to9:00 p.m.
UAEStandard Time
903|TheMetropolis BusinessBay Dubai| UAE
+971558153030 +971558253030 info@artiana.com
SPECIALIST AND SERVICES
PO Box112646
Dubai| UAE
SaleNumber: 1903
Lavesh Jagasia +971507963030 lavesh@artiana.com
ArtianaHelpDesk
+971558153030 +971558253030
auction@artiana.com
info@artiana.com
Additionalinformationonthe buyingprocessis availableonpage76
AdditionalinformationontheFlexiPayschemeis availableonpage83
ThisauctionisconductedundertheConditionsofSaleasstipulatedinthe catalogueonpage85
CopyrightNotice
Nopartofthiscataloguemaybe reproduced, storedina retrievalsystemortransmitted byany formor byanymeans, electronic, mechanical, photocopying, recordingorotherwise, without thepriorwrittenpermissionof Artiana ©Copyright,Artiana, 2019
CONTENTS
SALE GUIDE
ABOUTTHEARTIST:FRANCISNEWTONSOUZA
ABOUTTHECOLLECTORS:RAVIANDUMAJAIN
LOTS1-50
IT’S EASY TO BUY AT ARTIANA
AUCTION CLOSING SCHEDULE
WRITTEN / ABSENTEE BID FORM
BIDDING INCREMENTS
BUYING AT ARTIANA
FINANCE AT ARTIANA
CONDITIONS OF SALE
ARTIANA GUARANTEE
COLLECTION AND STORAGE
FRANCISNEWTONSOUZA (12APRIL 1924-28MARCH2002)
Souzaof theForties
Souzaof theForties
SouzaattheKalaMela
ABOUTTHECOLLECTORS
RAVIANDUMAJAIN
AUCTIONCLOSING
9DECEMBER2019
UAESTANDARDTIME
LOTS1-10(7:00PM)
LOTS11-20(7:30PM)
LOTS21-30(8:00PM)
LOTS31-40(8:30PM)
LOTS41-50(9:00PM)
PLEASEREFERTOPAGE77FORLOCAL CLOSINGTIMESINOTHERREGIONS
LOT 1
FRANCISNEWTONSOUZA (1924-2002)
Untitled(Self-Portrait)
Collection
US$5,000-7,000
FrancisNewtonSouza:DhoomimalGallery
LOT 2 FRANCISNEWTONSOUZA (1924-2002)
Untitled(MahatmaGandhi)
US$10,000-12,000
US$5,000-7,000
Collection
FrancisNewtonSouza:DhoomimalGallery
US$5,000-7,000
Collection
FrancisNewtonSouza:DhoomimalGallery
US$4,000-6,000
LOT 8 FRANCISNEWTONSOUZA (1924-2002)
Untitled US$4,000-6,000
Collection,
FrancisNewtonSouza:DhoomimalGallery
Collection
FrancisNewtonSouza:DhoomimalGallery
FrancisNewtonSouza:DhoomimalGallery
US$5,000-7,000
FrancisNewtonSouza:DhoomimalGallery
Collection
FrancisNewtonSouza:DhoomimalGallery
LOT 26 FRANCISNEWTONSOUZA (1924-2002)
Untitled(TajMahal) US$5,000-7,000
FrancisNewtonSouza:DhoomimalGallery Collection
US$5,000-7,000
Collection
FrancisNewtonSouza:DhoomimalGallery
Collection
FrancisNewtonSouza:DhoomimalGallery
US$4,000-6,000
FrancisNewtonSouza:DhoomimalGallery Collection
Holi
FrancisNewtonSouza:DhoomimalGallery
US$4,000-6,000
FrancisNewtonSouza:DhoomimalGallery
US$4,000-6,000
END OF SALE
IT’S EASY TO BUY AT ARTIANA
1. BROWSING
BeforeBidding, Clientsare welcometo browsethroughourLotsandseewhat we havetooffer Artianaoffersa varietyof waystodiscovermoreaboutourLots, so makethemostof yourbrowsing:
AuctionCatalogue
Ourcataloguesareavailableonourwebsite, mobileapp, as wellasinprintform, andare a great wayforclientstobrowsethrough upcomingsales. Ourcataloguescontainthe following:
•Imagesofthe work
•DescriptionsoftheLot,includingsize, dateandage, medium, type, attribution, quantity, etc
•Estimates, whichare givenforallLots arebasedonprices recentlypaidat auctionor averagemarket valuefor comparableproperty Theytakeinto accountrarity, condition, quality andprovenance
ConditionReports
ConditionReportssupplementthe cataloguedescriptionandprovideguidance ontheitem’scondition Theseare available upon request.
OurSpecialists
Wehavein-houseauctionspecialistswho willalwaysbehappytodiscussanitemin greaterdetail. Justcontactour Auction HelpDeskat+971558153030| +971558253030|auction@artiana.com
ViewingGallery
Artianaisaclick-and-mortar hybridand hasaviewinggallerylocatedinDubai, UAEand we wouldalwaysrecommend comingtotheauctionviewingsand lookingatanitemfor yourself
2. BIDDING
InordertoBid, users must first registeronour website, SignInwiththeir ArtianaID, and request Biddingaccessforthesaleinwhichtheyare interested. Oncetheir requesthasbeenapproved, users canproceedtoBid Artianaoffers youeaseand flexibility byprovidingthree waystoBidona desiredLot:
OnlineBids
OnlineBiddingallows youtodirectlyparticipatein theauctionthroughthe Artiana websiteormobileapp in realtimeandfromanywhereinthe world All you havetodoisclicktoBidwherever youmaybe
Youwillbeabletotrack yourBidsthroughthe websiteandwillbealertedifyouhavebeenoutbid Visitwww.artiana.comtofindoutmore
Proxy/MaximumBids
ThesearesuitableforthoseBidderswhoarenot availabletofollowtheBiddingprocess, or would simplyliketoreserveamaximumBidonaLot TomakeaProxyBid, you mustentertheMaximum amountthat you wouldliketoBidonaLot, andour auctionsoftwarewillBidon yourbehalfuptothis amount. If youaretheonlypersontoBidonthe selectedLot, then youwillpurchaseitatthelowest possibleprice(theReservePrice).
Written/AbsenteeBids
ThesearesuitableforthoseBidderswhomaynotbe availableduringtheauction, or wouldprefertohave an Artiana representativecompletetheonline transactionontheirbehalf Once youhavecompleted the Written/AbsenteeBidsform, wewilleitherBid onlinedirectlyorplacea‘ProxyBid’onyourbehalf, allowingourauctionsoftwaretoBiduptothis amount. If youaretheonlypersontoBidon your Lot, then youwillpurchaseitatthelowestpossible price(theReservePrice).
Formoreinformation, please refertothe Written/ AbsenteeBidsforminthiscatalogueorcontactour AuctionHelpDeskat+971558153030| +971558253030|auction@artiana.com
3. PAYING AND TAKING IT HOME
Congratulations! You hold the WinningBidandaretheSuccessful Bidder Once youhavepaidfor your purchase, deliverycanbearranged.
NoBuyer’sPremium
ArianadoesnotchargeanyBuyer’s Premium overandabovethe Winning Bid. ‘What You Bid Is WhatYou Pay’.
Payment
AstheSuccessfulBidder, youwill onlypaytheWinningbidamount, alongwithanyapplicablechargesfor additionalservices availedandVAT ifapplicable Paymentsforinvoices are requiredtobecompletedwithin aperiodofseven businessdaysfrom the receiptoftheinvoiceviaemail.
Refertothe ‘Buyingat Artiana’ guide inthiscatalogueformoredetails. If youhaveanyfurtherquestionsplease contactourHelpDeskat+97155 8153030|+971558253030| info@artiana.com
Storage
PurchasedLotswillinitiallybeheld forcollectioneitherat Artiana’s viewinggalleryorattheshipper’s warehousefor15 businessdaysatno charge, afterwhichadailystorage chargewillbeimposed.
Delivery
Wecanhelp youwithall your deliveryandshipping requirements whetherlocalorinternationalfreight Please refertothe ‘Storageand collection’ pageinthiscatalogueor contactourHelpDeskon+97155 8153030|+971558253030| info@artiana.com
AUCTION CLOSING SCHEDULE
For yourconvenience, particularlyif youarebiddingonmorethanonelot, predetermined groupsofLotsarescheduledtocloseat30-minutetime intervalsduringthe Auction.
IfaBidisplacedwithinthelast5minutes, thetimeron yourscreenwillbeextended by5minutesafterthescheduledClosing TimeoftheLot Thetimerwillcontinuetobeextendedin5minuteincrementsforanyBidding receivedinthe5minutespriortothenewClosing Timeofsuch Lot Aswithatraditionalauctionhouse, biddingwillcontinueoneachlotuntilthereisnomoreinterestinthe room.
Lotshavebeenallottedinto groups, andtheclosingscheduleforthe variousLotGroupsareasfollows:
WRIT
Toenter Written/ AbsenteeBids, pleasesignthecompletedformandemailittoauction@artiana.comatleast12hoursbeforethe firstclosingtimeofthe auction Foradditionalinformation, please refertothe ‘It’sEasytoBuyat Artiana’ and ‘Buyingat Artiana’ sectionsinthiscatalogueorthe ‘Frequently Asked Questions’ (FAQ’s)pageonour websitewww.artiana.com “I request Artiana, withoutlegalobligationonitspart, toBidontheLotslistedbelow, uptotheMaximumBid AmountIhavespecified Iagreethat myBid willbetreatedasanofferandissubjecttotheConditionsofSalelistedinthecatalogueandonthe websitewww.artiana.com. Iunderstandthat Artianais accepting Written/ AbsenteeBidsfortheconvenienceofclientsandIwillnotholditliablefor failureto record myBid. IunderstandthattheMaximum WrittenBidonce recordedcannotbecancelledandcanonlybeincreasedviaemailconfirmationor bycompletinganother Written/ AbsenteeBids Form, specifyingthehighermaximumBidamount/s ” PleasementionclearlyincapitalletterstheLot numberandthedescriptionaccurately(artistname, title). Biddersare requestedtoprovideallinvoicing detailspriortothesale TheBidderas registeredwith Artianawillbeinvoiced, andnoinvoiceswillbechangedafterthesale
BIDDING INCREMENTS
Biddingbeginsbelowthelowerestimate, andincreasesinsteps, orincrements Thenext validBidisbasedontheincrementslistedbelow IfBidders enteraProxyBidonline, thenextBidisplacedattheminimumincremental value
1.Iagreeandconsenttopayalltheapplicableduties, fees, shippingandhandlingcharges.
2.Iunderstandthatif Artiana receivesidentical AbsenteeorProxyBids, andiftheseBidsarehigherorequaltothe ReservePrice,ArtianawillselltheLottotheBidder, whoseBidit receivedandacceptedfirst.
3.Iunderstandthat AbsenteeorProxyBidssubmittedon ‘NoReserve’ Lotswillbeexecutedataminimumof10%of thelowerestimate(the ‘MinimumValue’), ifthereisnocompetingBid, andthe AbsenteeorProxyBidamountis greaterthantheMinimumValue
4 Iunderstandthattheexecutionof Written/AbsenteeBidsisofferedasanadditionalservicefornoextracharge SuchbidsareexecutedattheBidder’s riskandundertakensubjectto Artiana’sothercommitmentsatthetimeofthe auction Artianathereforecannotacceptliabilityforany reasonableerroror failuretoplacesuchBids.
ForNewBidders
If youhavenotpreviously registeredwith Artiana, pleasecreatean ‘ArtianaID’ onour website Toparticipateinthis auction, youwillhaveto ‘RegistertoBid’ with yourSign-Indetails Whencontacted byour representative, pleaseprovide aproofofidentityandaddressdocument, suchasacopyofanofficialphotoidentitycard(eitheraNationalIdentity Card, Passport or Driver’s License) Once your documents are verified, you will be given access to Bid You may also call our AuctionHelpDeskat+971558153030|+971558253030oremailinfo@artiana.com.
BUYING AT ARTIANA
Estimates
•Estimatesarebasedonprices recentlypaidatauctionor averagemarket valueoftheLotasdetermined by Artiana’sspecialists.
•TheseEstimatesareprepared wellinadvanceofthesaleandaresubjectto revision.
•Estimatesareprovidedonlyasaguideforbuyersandshouldnotbe reliedonasapredictionofactualprice Reserves
•TheReservePriceistheminimumpriceatwhichtheLotshallbesold.
•TheReservePriceisconfidentialandwillnotbedisclosed.
•TheReservePriceisalwayslowerorequaltolowestimate
CustomsDuty, Buyer’sPremiumand Value Added Tax
•Customsdutyof5%willbeapplicableforGCCwidedeliveryofcertainLotsthathavebeentemporarilyimportedintothe UAEfor re-export. TheseLotswillbeidentifiedinthecatalogueaccordingly •ArtianadoesnotchargeanyBuyer’sPremium.
•NotaxesareapplicableonpurchasesfromRestof WorldanddesignatedVATexemptfreezones.
• Value Added Tax(VAT)of5%willbeapplicableon Artiana’sinvoiceonanyandallpurchasesfromwithintheUAE,exceptingdesignated VATexemptfreezones.
Pre-Auction Viewings
•Pre-auctionviewingswillbeheldat Artiana’sviewinggalleryinDubaiatthedatesandtimesprintedinthefrontofthecatalogue
•Artiana’sauctionspecialistswillbe availabletoprovideadvice regardingLotsondisplay
•Artianaencouragesprospective buyerstoexamineLotsthoroughlybeforetheauction.
Pre-Registration&Bidding Access
•ProspectiveBiddersareaskedto registerwithusbeforeBidding Thissimple, one-timeprocesswillallowuserstocreateaunique ArtianaIDand password, whichwillbe requiredinordertoBidinallourauctions
•Aftercreatingan ArtianaIDandpassword, prospectiveBidderswillstillneedto requestforBiddingaccessforaparticularLot byclickingonthe ‘RegisterforSale’button
•BidderswillstillneedtorequestforBiddingaccessforaparticularLotbyclickingonthe‘RegisterforSale’button
•Oncethis requesthasbeenprocessed bythe Artiana AuctionDesk, theBidderwill receiveanemailconfirmationofBiddingaccess.
•Inthe eventthatadditionalinformationis requiredforapproval, theBidderwillbedirectlycontacted byan Artiana representative
•Pleasenotethatifthisprocesshasnottakenplace, youshallnotbe grantedBiddingaccess.
•Itis recommendedthatallBidders registeratleast24hoursbeforetheauction.
PersonalisedNotifications
•Aftersigninginto Artianaandaccessingthe ‘My Account’ page, youmayselectartistsofinterestand requesttobenotifiedwhentheybecome availableatauction.
Proxy/MaximumBids
•ProxyorMaximumBidscanbeplacedonanyLot bygoingto ‘Upcoming Auctions’ or ‘Current Auctions’, selectingthecatalogueofinterest, andclickingthe ‘ProxyBid’ buttonnexttotheLotonwhich youwishtoBid.
•Pleasenotethat you mustbe registeredandSignedIntoplaceaBidatanytime
Written/ AbsenteeBids
•Writtenor AbsenteeBidscanbeplacedonanyLot bycontactingthe Artiana AuctionDeskinperson, or byemailatauction@artiana.com.
• Youmayplacea Written/ AbsenteeBid by fillingout, signingandsubmittingthe Written/ AbsenteeBidsform availableonlineandinthe printedcatalogue
•Itis recommendedthatallBidscomeinatleast12hoursbeforethefirstClosing Timeofthe Auction.
StartingBid
•StartingBidisthe valueatwhichtheauctionhouseopenstheBiddingoneachLot.
•StartingBidcansometimesbelowerthanthe valueofthelowerestimate
BiddingOnline
•Once youaresignedinand grantedBiddingaccess, youmayproceedtoBid.
•After youhaveidentifiedtheLotonwhich you wouldliketoBid, clickon ‘PlaceBid’ andconfirm yourBidatthenext validBid valuelisted.
•Now, youwillbeabletoparticipateintheBiddingprocess byenteringthenext validBideachtime youareout-bid.
•EachnewBidwillincreaseinstepsorincrements overtheprevious validBid.
BiddingIncrements
•BiddingIncrementswillbecalculatedasshownintheBidincrementtableinthiscatalogue
BidHistory
•AllLotshaveBidHistory available, whichcanbeviewed byclickingon ‘ViewBidHistory.’
•BidHistoryindicatesthe values recordedforeachLotsincethestartoftheauction.
•BidHistorywillnotbedisplayedoncetheauctionhasclosed.
AuctionClosingSchedule
•PredeterminedgroupsofLotswillclosesimultaneouslyinLotorderevery30minutes
•IfaBidisplacedwithinthelast5minutes,thetimeronyourscreenwillbeextendedto5minutesafterthescheduledClosingTimeoftheLot
•Thetimerwillcontinuetobeextendedin5minuteincrementsforanyBidding receivedinthe5minutespriortothenewClosing Timeof suchLot
•Aswithatraditionalauctionhouse, BiddingwillcontinueoneachLotuntilthereisnomoreinterestinthe room.
• Formoreinformationontheclosingtimesforthissale, please refertothe AuctionClosingScheduleinthecatalogue
Winning/SuccessfulBid
• WinningorSuccessfulBidisthelastandhighestBidatwhichtheLothasclosed.
•NonewBidscanbeplacedafterthecloseofaLot.
•TheclosingBidisconsideredthe WinningBidonlyiftheBidexceedstheReservePrice
•Artiana reservesthe righttopublishall WinningBidsonthe websiteafterthecloseoftheauction.
CurrencyofBiddingandInvoicing
•AllBidsareplacedinUSDollars(USD).
•AllInvoicesareraisedinUSDollars(USD).
• Payments receivedin UAEDirhams(AED)willbeconvertedtoUSDasper Artiana’sstandardconversionrateof1USD=3.675 AED
• Payments receivedinanyothercurrencywillbeconvertedtoUSDasperthebank’ssheetrateonthedayoftransaction.
BidCancellation
•OnceanyBidhasbeenplaced,itcannotbecancelled
•Artiana reservesthe righttocancelanyBidsinordertoprotecttheefficacyoftheBiddingprocess.
AftertheSale
•IfaBidderissuccessful, heshallbeinformedviaemailaftertheauctionhasclosedandwillalsobeabletoviewhiswinningBidsunder ‘SuccessfulBids’ onthe ‘My Account’ pageonthe website
•TheBidderwillthen receiveanemailwiththeinvoicefortheLot.
•IfaBidderisthewinningBidder, heislegallyboundtopurchasetheitemfrom Artiana.
•Pleasenotethatpurchaseswillnotbeshippedoutuntilfullpaymenthasbeen receivedandcleared.
Invoicing& Payment
•Alldetailsfortheinvoicearetobeprovidedand verifiedpriortotheauction.
• Foranyandallclientsand/ortransactionsfromRestof Worldexceptthe UAEinvoicingandpaymentsareprocessed by ArtianaLimited, a companydulyincorporatedundertheRAKICCBusinessCompaniesRegulations2016bearing registered numberIC20120900; andforany andallclientsand/ortransactionsfromwithinthe UAEinvoicingandpaymentsareprocessed by ArtianaLimited, acompanydulyincorporated undertheDubaiInternationalFinancialCentrebearing registered number2249.
•After the sale, the Buyer, as invoiced, is required to pay the amount in full (including the Winning Bid, VAT and any applicable charges for additionalservices availed).
•Buyerswillbe requiredtocompletepaymentwithinaperiodofseven businessdaysfromthe receiptoftheinvoiceviaemail.
•ArtianashallonlyreleaseLotsoncethepaymentismadeinfull
•Bank Transfer: You may electronically transfer funds to our account in US dollars When doing so, please quote the sale details along with the Lot numberandinvoice numberasthe reference Forpaymentsmade bybanktransfer, allbankchargesarepayable bythe remitter
•Credit and Debit Cards: Visa and Mastercard only Please note that as Artiana does not charge any Buyer’s Premium to the Buyer, for any paymentsmade byCreditorDebitCardsaservicechargeof3%onthetotalinvoiceamountwillbechargedtotheBuyer Itmaybeadvisableto notify yourcardproviderof yourintendedpurchaseinadvanceto reducedelayscaused byushavingtoseekpaymentauthorisation.
Delivery/CollectionofPurchase&Insurance
•Priceestimatesand/orthe WinningBidpricedonotincludeanypacking, insurance, shippingorhandlingcharges, allofwhichwillbeborne by theBuyer
• Workswillbeshippedwithin7daysofthepaymentbeingcleared
•ArtianaoffersfreedeliveryinDubaiandcan recommendouraffiliatedshippingcompanyfordeliveriesoutsidethe UAE. Formoreinformation, pleaserefertothe‘StorageandCollection’pageinthiscatalogue
•Alternatively, Buyersmaychoosetocollecttheirpurchasefrom ArtianainDubaiwithin15daysfromthedateofthesale
•Buyerswhohavenotcompletedpaymentformalitieswillbechargeddemurrage@2%permonthonthe valueoftheartworksandthecharges forstorageoftheproperty
•ArtianaprovidesinsurancecoverageonsoldLotsforsevendaysaftertheClosing Timeoftheauction Afterthatperiod, oronceaLothasbeen collected(whicheverisearlier), theLotwillbeentirelyatthe buyer’s risk.
Participateinournextauction
•If you wouldliketostayinformedof Artiana’supcoming events, please registerwithusonlineatwww.artiana.com
Consignforournextauction
•If youareinterestedinconsigning worksfrom yourcollectiontoournextsale, pleasecontactusatthe Artiana AuctionDeskon
•+971558153030|+971558253030|auction@artiana.com
• Fullyclimate controlledartstoragefacility
• In-housearthandlingtruck fortransportation
•Bespokecollectionmanagementservices
• Locatedinthesafeand convenient jurisdictionofDubai International Financial Centre(DIFC)
• Assetsstoredaregoverned byacommonlawframeworkwithlawsand regulations issuedinEnglish
FINANCE AT ARTIANA
Whatis ArtianaFine ArtFinance?
ArtianaFine ArtFinanceisourart financeadvisorydivision. Leveraginguponthestrengthofourauctionhouseplatform, wespecializein financingsolutionsthatcatertoboth—buyersinourauctionsas wellasotherswhocanborrowagainst blue-chipIndianart works.
Whatservicesdoes ArtianaFine ArtFinanceprovide?
Weprovide financesolutionstoconsignorsandFlexiPayoptionsto buyersatourauctions, andarrangeadvancessecuredagainstIndian fineartat competitiveinterestrates. Ourbespoke financesolutionsprovide financingforfreshacquisitionsorexistingcollections.
WhatisFlexiPay?
Buyersatourauctionscan availofourFlexiPayschemetopayforthelots won bythemsubjecttoeligibility, andsecuringapre-approvalbefore theauction. BiddersintendingtouseFlexiPaytopayfortheiritemsshouldcontacttheauctiondeskbeforetheauctionwithdetailsofthetotal anticipatedamountandspecificlot/sthat wouldbe requiredtobecovered bytheFlexiPayschemeincasethebidsaresuccessful TheFlexiPay schemecoversupto80%ofthelowerestimate valueofthelotsexcludinganytaxesand/orlevies, andthebalanceamount overandabovethe amountcovered bytheFlexiPayschemehastobesettledwithinthe regular timelineasmentionedintheinvoice Theitem/s remaininthe custodyof Artianatillallamountsdueundertheschemeandanyotherincidentalchargesareclearedinfull bythebuyer
WhatisthetenorandchargesfortheFlexiPayscheme?
Themaximumamountcovered bytheFlexiPayschemeisupto80%oflowerestimate valueofthe respectivelot, whichcanbedividedintoequal paymentsrangingfrom3to12monthsandtheservicechargespayablefor availingtheschemeisaflatrateof12% p.a. proratedasperthepayment tenor ThereisnoarrangementfeeorstoragechargesapplicablewhereasinsurancechargesarebilledatactualstoallFlexiPayclients.
Why financeorborrowagainstart?
Byfinancingtheirpurchasesat Artianaauctions, clientscantakeadvantageofopportunity buysandscheduleadelayedorinstallmentpaymenton theiracquisitionsbasedontheircashflows Byleveragingexistingartworks, ourclientsoptimizetheuseandenjoymentoftheircollection, while unlockingequityandallowingfurtherportfoliodiversification.
Whattypeofartdoes ArtianaFine ArtFinanceacceptascollateral?
Wewillconsiderindividualartworksandcollectionsof blue-chipIndianfineartascollateral Artworks mustbefreelymarketableandproduced by prominentartistswithanexistingtrack recordinthesecondarymarket.
Whatistheartwork evaluationprocessforexternalartcollateral?
Weareanauctionhouse, andofferadvisoryservicesonahighlyconfidentialbasisto evaluateartworks Theindividualartworkorcollectionwill beestimated byusasiftheyarebeingproposedforauction, andtheadvanceagainsttheseitem/swilltypicallybe50%ofthelowerestimate value offered byus Wewillalso requireanindependentinspection byaconservator
WhatLoan-To-Value(LTV)does ArtianaFine ArtFinanceofferagainsttheartworks? Wewilltypicallyadvanceupto80%ofthelowerestimate valueofartworkspurchasedatourauctionsorupto60%oftheappraised valueofthe proposedexternalartcollateral.
Whataretheadvancesizesthat ArtianaFine ArtFinanceoffers?
WearrangeadvancesstartingatUSD50,000andcanassistinsecuringadvancesofsubstantiallylargeramounts. For buyersatourauctions wecan offera reducedthresholdonacase-to-casebasis.
Howlongdoesthedisbursaltake?
Theapprovaldependsonthelocationoftheartworksandtheclients’ art ownershipstructure However, ourdomainexpertiseandlarge, liquid balancesheetsofourfinanciersallowustocompletetheprocessmorequicklythantraditionaloperators.
Doourclients retainpossessionoftheirart?
No, we requirethattheartworkbeheldascollateralinourartstorage facilitytilltheadvancehasbeenfullypaidbacktoour financier
Willtheartworksbeinsuredduringthetermtheyareheldascollateralinstorage?
Throughoutthetermthattheartworksareheldascollateraltheywillbeinsuredatdoubleoftheadvanceamount, tocoverthefull valueoftheart asset Thepolicywillbeassignedtousfordistributingtheamountsasstipulated, betweentheclientandfinancier Theinsurancecoverstheitems rightfromthetimeofcollection, duringstorageuntilthe finalhandover
Who ownstheartworksduringthetermtheyareheldascollateralinstorage?
Theartworks remaintheclients’ propertyduringtheentirestorageperiod.
Whataretheadvantagesof Artiana’sFine ArtFinancecomparedtoatraditionalbankloan?
Ouradvancesofferflexibilityanda variabletenorsupto24monthswithano-chargeearlyexitoption. Unlockingequityand receivingliquidity withoutcumbersomedocumentationandcreditapprovalprocess Thereisnopersonalliability, thecollateralizedartworksarethesoleguarantee towardstheadvance(non recourse).
Whataretheearlyexitoptionsbeforeexpiryoftheagreedtenor?
Clientscan requestanearlyexitbeforetheexpiryoftheagreedtenor by giving30daysnoticewithoutanyexitchargesbeingpayable Any advanceservicechargescollectedinsuchcaseswillbenon-refundable
Whatarethechargesandcostsfortheserviceandadvance?
ArtianaFine ArtFinancewillchargeanarrangementfeeof2%oftheadvanceamountsarrangedagainstexternalartassets, thisfeeis waivedfor financearrangedagainstpurchasesmadeinourauctions. Dependingonthe value, tenorandtermsoftheadvancethechargesarecalculatedat typically15% p.a., payablequarterlyinadvancefor fixedmaturitypayments, andata flatrateof12% p.a formonthlyinstallmentpayments
Thechargesaresetatthestartofthe facilityand fixedfortheentiretenor Therearenoadditionalcostsfor evaluationandstorage, insurance coverisprocured by Artianatocoverthefull valueoftheassetandbilledatactualstotheclient.
• FlexiPayscheme forbuyersatourauctions
•Bespokesolutions for consignorsand collectors
• Fastdecisionsandquickdisbursals
• Flexible tenorsand repaymentoptions
•Noearlyexit feespayable
CONDITIONS OF SALE
Artiana: Artiana referstoour relevantcorporateentityactingasa representativeofeitheritself, anyofitsaffiliates, assignsoranyof itsSellers.
• Foranyandallclientsand/ortransactionsfromRestof Worldexceptthe UAE: Refersto ArtianaLimited, acompany dulyincorporatedundertheRAKICCBusinessCompanies Regulations2016bearing registered numberIC20120900.
• Foranyandallclientsand/ortransactionsfromwithinthe UAE: Refersto ArtianaLimited, acompanydulyincorporated undertheDubaiInternationalFinancialCentrebearing registered number2249
(DesignatedVATexemptfreezoneswithinthe UAEaredeemedas Restof World region)
ArtianaServer: Thesystem(s)thatprovidescomputerdeviceswith accessto resourcessharedoncomputernetworks, including Artiana data, applicationfilesandprinters.
Auction: AnauctionofProperty(ies)/Lot(s)tobeconducted by Artianaonwww.artiana.comoranyother websiteonthedate indicatedinthe AuctionCatalogue
AuctionCatalogue: Thecatalogueaspublished by Artiana, whether inprint, ontheMobile Application, oronthe Website, includingthe Print AuctionCatalogue, theMobileApp AuctionCatalogue, the Online AuctionCatalogue, andtheeCataloguewith respecttoan Auction,containingdetailsoftheAuctionalongwiththedescription, priceandotherdetailsofPropertiestobeofferedforsaleatsuch Auction. IncaseofanydiscrepancybetweenthePrint Auction Catalogue, theMobileApp AuctionCatalogue, theOnline Auction Catalogueand/ortheeCatalogue, theOnline AuctionCatalogue, as modified by Artianafromtimetotime, shalltakeprecedence AuctionClosingSchedule: Theschedulespecifyingtheclosing timesforBidsforeachLottobesoldthroughthe Auctionas specifiedinthe AuctionCatalogue
Bid: Thepriceoffered byaBiddertopurchaseaparticularProperty offeredforsaleatan Auction.
Bidder: ApersonmakingaBidforthepurchaseofoneormore Property(ies)offeredforsaleatan Auctioninaccordancewiththe termsandconditionssetoutintheConditionsofSaleandsuch personshallbedeemedtohaveenteredintoallapplicablecontracts underthegoverninglaw
Buyer: TheBiddermakingthe WinningBidwith respecttoa Property(ies), whohastherebyagreedtopay/haspaidtheSalePrice payablewith respecttosuchProperty(ies).
ClosingDate: Thedatespecifiedinthe AuctionClosingSchedule onwhichthe Auctioncloses.
Closing Time: Thetimeatwhichthe AuctionforanyoftheLot Groupslistedinthe AuctionClosingSchedulecloses.
ConditionsofSale: TheConditions, whicharepublishedinanyof the AuctionCataloguesandareapplicableto everyBidand everysale ofPropertymadethroughan Auction. Incaseofaconflictbetween theConditionspublishedintheOnline AuctionCatalogueandinthe Print AuctionCatalogueoreCatalogue, theOnline Auction
Catalogue version, asmodified by Artianafromtimetotime, shall takeprecedence
Cultural Artifacts: Antiquitiesanditemsofhistoricalinterestor significancedesignatedasCulturalProperty
Description: AllthedetailsofaPropertyassetoutinthe Auction Catalogueandmayinclude, withoutlimitation, thenameoftheartist, designerormanufacturer, thetitleoftheProperty, andthefollowing additionaldetails.
• For Artworks: The signature of the artist/date of the Property (if any), thesurface, medium, editionnumber(whereverapplicable) anddimensionsoftheProperty
• ForPreciousObjects: Anyotherfeaturesorcharacteristicsofthe Propertymentionedinthe AuctionCatalogue eCatalogue: Anelectronic reproductionofthePrint Auction Cataloguethatmaybemade availableonthe Websiteforcertain auctions.
LotGroups:TheProperties groupedtogetherfor Auctionthatwill closeataparticulartime
Mobile Application: Refersto Artiana’sproprietarymobileauction application, asupdatedfromtimetotime, and availablefordownload fromthe Apple AppStoreorGooglePlay, forthepurposeofviewing the AuctionCatalogue, placingBids, viewing Auction results, accessingotherinformation relatedto Artianaorthe Auction, and receivingpushnotificationsonamobiledevice
MobileApp AuctionCatalogue: ThescreenswithintheMobile Application relatingtothe Auction, asmaybeamendedfromtime totime
Notices: Informationincludedinthe AuctionCatalogue by Artiana -whetherinprintoronlineorontheMobile Application-to correcterrorsandomissionsinthe AuctionCatalogue Although theseareprovidedfortheBidders’ convenience, theOnline Auction Catalogue, asmodified by Artianafromtimetotime, shalltake precedenceinallcasesofdiscrepancy
Online AuctionCatalogue: The webpagesonthe Website relating tothe Auction, asmaybeamendedfromtimetotimeincluding web pagesaccessibleviathelink “AuctionCatalogue” (includingallpages providingdetails relatedtotheProperty(ies)), as wellasadditional pagescontainingdetailsofthe Auctionaccessibleviathelink “About the Auction ”
PreciousObjects: Jewellery, watches, loosepreciousstonesandany otherobjectsofferedforsalewithinthecontextofan Auction.
Print AuctionCatalogue: Theprinted versionofthe Auction Catalogue
Property/Lot: The Artworks, PreciousObjects, andanyotheritems offered by Artianaforsale, eitherindividuallyorcollectively(asa singleunit), throughthe Auction.
ProxyBid: ReferstoanyProxy/MaximumBidplaced bya buyer onthe WebsiteauthorisingtheauctionsoftwaretoautomaticallyBid onhisbehalf, untilsuchMaximumamountis reached.
ReservePrice:Theminimumprice, asdetermined by Artianaand theSeller, acceptableforthesaleofthePropertythroughan Auction.
Seller: ThepartyconsigningthePropertyto Artianaasitsagentfor salethrough Auction.
TechnicalDowntime: Thetimeperiodduringwhichthe Artiana Serverorthe Websiteisnotoperationalduetoamalfunctionor plannedmaintenance
TermsofBusiness: Thetermsof businessexecutedbetween ArtianaandtheSellerincluding butnotlimitedtotheconsignment agreement.
Website: ThecollectionofHTMLand/orinternetdataandmedia locatedattheURLwww.artiana.comand/oranyotherURLlinked tothe Website
WinningBid/SalePrice: ThehighestBidofferedwith respecttoa PropertyattheClosing Time, wherethe WinningBidshalleitherbe higherthanorequaltotheReservePrice
WinningBidder: TheBidderwhohasplacedthe WinningBid.
WrittenBid: Referstoany Written/AbsenteeBid recordedwith Artianauponsubmissionofthecompleted Written/AbsenteeBids formatleast12hoursbeforethefirstClosingTime.
Byparticipatinginthis Auction, youacknowledgethat youarebound bytheConditionsofSaleaslistedbelowandonthe Website
2.1. Artiana’s roleastheagentoftheSeller:Artianaundertakestosell thePropertiesthrough Auctionastheagentforandonbehalfof theSeller
2.2. MakingaBidconstitutesanirrevocableoffertopurchasethe Property, andtheacceptanceofaBidasthe WinningBid by Artiana shall resultinanenforceablecontractofsalebetween Artiana, acting solelyastheagentoftheSeller, andthe WinningBidder
2.3. Artianaisauthorised bytheSellertoexerciseitscomplete discretionin:
•determiningtheformandcontentoftheDescriptionsinthe AuctionCatalogue,
• grantingBiddingaccesstoaBidder,
• recording, rejectingoracceptingBids, and •decidingwhichBidconstitutesthe WinningBid, ifany (Biddingaccessshallbe givenat Artiana’sdiscretionand Artianamay setlimitsonthetotal valueofallBidsmadeand/orthe numberof Bidsthatmaybemade byaBidder Artianamayalso requirepayment guaranteesand/ordepositsasaconditionprecedentto givingBidding accesstoaBidder Bidderswillbeinformedofthelimitsonthetotal Bid valueand/orthenumberofBidsthattheymaymake, ifany, and willnotbeallowedtoBidfurtherifeitherofsuchBiddinglimithas beenexhausted Bidupdatesandtimeextensions, ifany, shallbe updatedonthe WebsiteandMobile Application. Onboththe Website andtheMobile App, Biddersmay refreshtheirBiddingpages by clickingonthe “RefreshNow” iconorthe re-load/refreshbuttons ontheirbrowsers, whereapplicable Artianashall evaluatetheBid historiesofspecificLotGroupsperiodicallyto preservetheefficacyof the Auctionprocess Thisexercisemaybeconducted by Artiana internallyorthroughthirdpartiessolelyatthediscretionof Artiana.)
2.4. Closing Times
FortheconvenienceofBidders, particularlythosewhoareplacing BidsonmorethanoneLot, LotGroupsarescheduledtocloseat 30-minutetimeintervalsduringthe Auction.
TheBiddingfor variousLotGroupsshallbeclosedinaccordance withthe AuctionClosingSchedule However, inthe eventthat Artiana recordsanyBiddingactivityinthe5minutespriortothe
closingofaLot, theClosing TimeforsuchaLotshallbeextended by 5minutesfromitsoriginallyscheduledClosing Time TheClosing Timeshallcontinuetobeextendedin5-minuteincrementsforany subsequentBidding receivedinthe5minutespriortotheclosingof suchLot. Inthe eventthattheClosing Timeisextendedin accordancewiththisClause, biddingontheLotshallonlyendifno Biddingactivityis recorded by Artianaduringthelast5minutesof extendedtime.Biddersareadvisedtoclickonthe“RefreshNow” icononthe WebsitepageorintheMobile Applicationat regular intervalsinaccordancewiththeprovisionsofClause2.5forupdates onlatestBidsandtimeextensionsifany
2.5
TrackingBids
The Websiteshallcontainalinktitled ‘LotsIBidOn’ withinthepage ‘Current Auction’ andtheBiddermayclickonthislinktoaccess informationonallBidsmadeon variousLots. Foreaseoftracking Bids, BiddersareadvisedtoassignBiddingnicknamestothemselves.
The WebsiteandMobile Applicationshallcontain:
•TheBidhistoryforeachLot, beingthelast5Bidamountsthat havebeen recordeduntilandincludingthecurrenthighestBid; and •Acountdownclockindicatingtheamountoftime availablefor placingBidsbeforetheClosing Time
TheBidhistory, currentBid, andcountdownclockshallbeaccurate atthetimeofdownloadingofthose values, providedthatsuch informationhasnotchangedduringthetimetakenforthis informationto reachtheBidder’scomputerormobiledevicefrom the ArtianaServer ThemostupdatedBid valuesshallbeshownonly whenthe WebsitepageortheMobile Applicationpagecontaining theinformationonBid valuesis refreshed; whichshallhappeneither automaticallyat regularintervals(Every5minutespriortoonehour beforetheclosingtimeofthefirstLot/LotGroupand every 1minutewithinthelasthouroftheclosingtimeofthefirstLot/Lot Groupandshallcontinue refreshing everyminutetillthecloseofthe lastLot/LotGroup)orwhenaBidderclicksonthe‘RefreshNow’ icononthe WebsitepageorintheMobile Applicationpage Whenthecountdownclockcountsdowntozero, inthecasewhere theClosing Timewith respecttoaparticularLothasbeenextended byafurther5minutespursuanttoClause2.4above, thecountdown clockmaynot reflectsuchextension Assuch, theBiddermay wait forthe valuesonthepageto refreshautomaticallyonthe Website, or clickonthe ‘RefreshNow’ linkonthepageorintheMobile ApplicationtodeterminewhethertheClosing Timehasbeen extendedforthatLot.
ThecountdownclockcombinedwiththecurrenthighestBidas shownintheBidhistoryonthe Websiteshallonlybeanindicationof thehighestBidamountatthetimewhenthe valuesonthe Website orMobile Application were refreshedinthemannersetoutinClause 2.5above Shouldbidders wantmorefrequentupdates, theyare advisedto refresh valuesasdescribedinClause2.5inordertoview themostupdatedBidhistoryandcountdownclock.
Duetothenatureofinternetand/ormobiletraffic, theremaybean unpredictabletimelagbetweenaBidderplacingaBid, andthatBid being received by Artiana Therefore, althoughaBiddermayhave placedhis/herBidpriortoClosing Time,Artianamay receivetheBid aftertheClosing TimefortheLotwith respecttowhichtheBidhas beenplacedandshall, insuchan event, be rejected Inorderto preventBidsbeing rejectedinsuchamanner, BiddersmaysetProxy Bids/MaximumBidsforLotsonwhichtheywishtoBid.
Written/AbsenteeBidsmaybe recordedwith Artiana12hoursprior tothefirstClosing Time, subjecttotheotherprovisionsofthese ConditionsofSale, includinganylimitsimposed by Artianaonthe numberofBidsthatmightbeplaced byaBidder
2.6. Biddersareadvisedto keeptheir ArtianaIDandpasswordsecure atalltimes ArtianawillholdtheBidder responsibleforallBidsplaced usingtheir ArtianaIDandpassword, whetherviathe Websiteora mobiledevice BiddersusingtheMobileBidding Applicationare advisedto keeptheirmobiledevicessecureandsetpasswordsfor themtopreventunauthoriseduse
2.7. Artiana reserves the right to withdraw any Property before, duringorafterthe Auction, ifithas reasontobelievethatthe authenticityofthePropertyortheaccuracyoftheDescriptionis indoubt, orifthereisabreachofthe TermsofBusiness, orinthe caseoferrorordispute, orif Artianaotherwisebelieves, atitssole discretion, thatit wouldbeimpropertoincludethePropertyinthe Auction,andcanduringoraftertheAuctioncontinuethebidding, determinethesuccessfulBidder, cancelthesaleoftheLot, or re-offer and resellanyLot.
2.8. AllProperty(ies)shallbesoldsubjecttotheReservePrice Ifthe WinningBidisbelowtheReservePrice, thePropertyshallbe consideredunsoldexceptinsuchcasewherethe WinningBidisa ProxyBidandthemaximumlimitontheProxyBideithermatches orishigherthantheReservePrice InsuchcasestheProperty(ies) shallbesoldatReservePricetotheProxyBidder TheReservePrice oneachPropertyshallbeconfidentialand Artianashallhaveno obligationtodisclosethesametoanyBidder
2.9. ArtianawillinvoicetheBuyerfortheSalePrice(Winning Bid)andanyadditionalchargesthatmaybeincurred by Artiana areapplicableonthesale, includingshippingandhandlingof theProperty 5% VATwillbechargedon Artiana’sinvoiceandis applicableonanyandallpurchasesfromwithinthe UAE.
2.10. ThetitletothePropertiespurchasedinan Auctionshallpass totheBuyerattheClosing Timesubjecttotheconditionsinclause 2.7forthosePropertieswhereaBuyerholdsthe WinningBidand saidBuyerassumesfull riskand responsibilitiesfortheProperties thereafter Propertiespurchasedwillnotbe releasedorshippedout totheBuyerorhis representativeuntiltheBuyerhasfulfilledhis paymentandotherobligationsasdescribedintheseConditions ofSale ArtianamayexercisealienonthePropertiesunderthe conditionsdescribedinClause2.17.
2.11. BiddingIncrementswillbecalculatedasshownintheBidding Incrementtablebelow
calculatedasperthesheetrateofthebankspecified by Artianaonthe dateofeither receivingthefundsfromtheBuyeror remittingthe fundstotheSeller Inthecaseofpaymentsforpurchasesbeingmade in UAEDirhams(AED), astandardconversionrateof1USD=3.675 AEDwillapply
2.13. AllBiddersare requiredtoprovidecompleteandaccurate invoicingdetailsto Artianaatthetimeof registrationforthe Auction Invoicingdetails, once registered, willnotbechanged The Biddershallbeinvoicedbasedondetailsprovidedatthetimeof registeringforthe Auction. ForanyandalltransactionsfromRestof Worldexceptthe UAEinvoicingand/orpaymentsareprocessed by ArtianaLimited, acompanydulyincorporatedundertheRAKICC BusinessCompaniesRegulations2016bearing registered number IC20120900; andforanyandalltransactionsfromwithinthe UAE invoicingand/orpaymentsareprocessed by ArtianaLimited, a companydulyincorporatedundertheDubaiInternationalFinancial Centrebearing registered number2249.
2.14 The WinningBiddershallpaytheSalePriceinfull(including anyadditionalchargesand VAT, ifapplicable)withinseven business daysfromtheClosingDate NoshipmentordeliveryoftheProperty willbemadetothe WinningBidderiftheSalePrice, andanyother additionalchargesthatmaybepayable bytheBuyer, arenot received by Artianaanduntilallproperdocumentationinconnectionwith thesaleofthePropertyhasbeencompleted. Paymentswillnotbe acceptedfromanypartiesotherthanthe WinningBidderas recorded ontheinvoice
2.15. Nonpayment
The WinningBiddershallensurethatinvoicesprovided by Artiana arepaidinfullandall remittanceofamountsdueundersaidinvoice ismadewithinseven businessdaysfromthedateoftheinvoice Inthe casethatpaymentsarenot receivedwithinsuchperiod, itshallbe treatedasabreachofcontractofsale bytheBuyerand, insuchan event,Artianaisauthorisedatitssolediscretiontocancelthesale uponexpiryofthisstipulatedperiodofseven businessdayswithout beingobligedtoinformtheBuyerofthesame, andtheSeller authorises Artianatotakeanysteps(including reportingthelate payments, missedpayments, orotherdefaultsontheaccounttoany credit bureauandtheinstitutionoflegalproceedings), asdeemed appropriate, toenforcethefulloranydifferentialpaymentdue bythe Buyer Inaddition, theBuyerwillbechargeddemurrage@2%ofthe total value(WinningBid)permonthuntilthedateofactualpayment. 2.16. Failuretocollect
IftheBuyerinforms Artianathathewishestocollectthe Property(ies)from ArtianainpersonandsuchProperty(ies)isnot collectedbytheBuyerwithin15daysfromtheauctionclosingdate, ArtianashallarrangeforstorageoftheProperty(ies)attheBuyer’s expense, andshallonly releasetheProperty(ies)afterpaymenthas beenmade, infull, includingdemurrage@2%ofthetotal value (WinningBidplusanyotheradditionalcharges, ifapplicable)per monthforallpaymentsdueandthechargesforstorageofthe Property(ies), ifany
2.17. ArtianashallbeentitledtoexercisealienontheProperty(ies) forpaymentofanysums receivablefromtheBuyer, includingtheSale Priceandcosts relatingtostorageandinsurancewheretheyaretobe borne bytheBuyer, in relationtoanyProperty(ies)purchased by theBuyer
2.12. The AuctionisconductedinUnitedStatesDollars(USD)and, foranytransactioninothercurrencies, theexchangeratewillbe
2.18. Artiana reservesthe righttonot awardthe WinningBidtothe highestBidderattheClosingDateifitdeemsitnecessarytodoso
2.19 TheBuyeracknowledgesthat Artianawillabide byanyexport restrictionsthatmayapplyinthecountriesfromwherespecific Property(ies)willbeshipped TheBuyershallalsobe responsibleto ensurethattheProperty(ies)isfreelyimportableintothecountry wheresuchProperty(ies)isintendedfordelivery(asspecified bythe Buyer). Inthe eventtheBuyeror Artianabecome awareofany restrictionstosuchimportsubsequenttothecompletionofthe Auction, theBuyermayprovideanalternatedeliverydestinationto Artiana. (Such restrictionsonimportofanyProperty/Lotpurchased byaBuyershallnotqualifyas groundsfortheBuyertocancelsuch saleunderanycircumstances) Allcostsassociatedwiththeprocessof deliveryandstorage(when required)oftheProperty(ies)shallbe borne bytheBuyer TheProperty(ies)shallbehanded overtothe Buyer, orhisnominee, onlyuponfullpaymentofallsuchcosts.
2.20. Artianahasthe righttoexercise reasonablediscretioninsetting BidincrementsasperClause2.11orotherwise,refusinganyBid, advancingtheBidding, withdrawingordividinganyLot, combining twoormoreLots; andinthecaseoferrorordispute, duringorafter thesale, determiningthesuccessfulBidder, continuingtheBidding, cancellingthesaleor reofferingand resellingtheitemindispute If anydisputearisesafterthesale, then, intheabsenceofany evidencetothecontrary, thesale recordmaintained by Artiana willbeconclusive
2.21 WrittenBidsareacceptedfromBiddersoncetheyhavebeen givenBiddingaccessforthe Auction Theseareenteredasonline directorProxyBids by Artiana, andmaynotbestoppedoraltered by theBidderoncethe Auctionhascommenced WrittenBidsare accepteduntiltwelvehourspriortothe firstClosing Time
2.22. ArtianaemployeesmaynotBidinthe Auctiononcethe Auctionhasstarted Theymayhoweversubmita WrittenBidforan amountthatmaybeequaltoorabovethelowerestimateofaLot beforethe AuctioncommencesandhaveaProxyBidplacedontheir behalf Oncethe Auctionhasbegun, theymayonlyincreasetheir ProxyBid.
2.23. ArtianaemployeesmayBidincharityauctionsthatareheldon the Artiana Auctionplatform.
2.24. SellersarenotallowedtoBidontheparticularLot(s)they haveconsigned.
2.25. ArtianadoesnotplaceorallowanyBidstobeplacedonbehalf oftheSeller AlloftheBids recordedat Artianaarefrom registered Bidders.
2.26. OnceaBidis registeredinoursystem, whetherplaced byan activeBidderor byProxy, itisimmediatelyandautomatically displayedforall registereduserstosee
2.27. TechnicalDowntime
Intheunlikely eventthatthe WebsiteisinaccessibletoBidders worldwidedueto TechnicalDowntimewithinthehalfhourpriorto thescheduledClosing TimeforanyoftheLotGroups, theClosing TimeofthatLot groupandsubsequentLotGroupswillbeextended bythedurationofthe TechnicalDowntime Incasethe Technical DowntimeextendsbeyondtheClosing TimeforaparticularLot Group, the Websiteshall, afterthe TechnicalDowntime, showthe AuctionfortheparticularLotGroupasclosed. However, theClosing TimeforsuchLotGroupandsubsequentLotGroupsshallbe extended bythedurationofthe TechnicalDowntimeandappropriate detailsoftheextensionshallbepublishedonthe Websiteshortlyafter recoveryfromthe TechnicalDowntime Notethatanymalfunctionin
theMobile Applicationdoesnotconstitute TechnicalDowntime In the eventofsuchmalfunction, Biddersshouldusethe Websiteto placeBids.
2.28. Bids recordedpriortoany TechnicalDowntimewillbetreated as validaccordingtotheConditionsofSale Artianashallnotbeliable foranylossofinformationduetothe TechnicalDowntime Thedata logsofthe ArtianaServerwilldeterminethedurationofthe TechnicalDowntimeandanydeterminationmade by Artianain respectofextensionoftheClosing Timeshallbe final.
3.1. ArtianaoffersallProperty(ies)forsaleatthe Auction “asis”, whichmeansthattheProperty(ies)aresoldwithallexisting faultsand imperfections. Measurementsare givenasHeightx WidthxDepthin decimalinches(rationalizedtotheclosest0.25, 0.5, 0.75)andin decimalcentimetres ArtianaencouragesallpotentialBuyersto inspecteachitemcarefullybeforeBidding.
3.2. AnystatementsmadebyArtianaaboutanyProperty(ies), whetherorallyorinwritingconcerningattributionto,forexample, anyschoolofartorcraftsmanship, countryororigin, historyor provenance, areonlyexpressionsof Artiana’s ownopinionorbelief Suchopinionsorbeliefsincludingtheestimate valuesofthe propertieshavebeenformedhonestlyinaccordancewiththe standardofcareexpectedofanauctionhouse However,Artianadoes notinanyway representthatithascarriedoutexhaustive research oranalysis, anditistherefore recommended, especiallyincasesof Property(ies)ofhigh value, thatpotentialBuyersseekadviceonsuch mattersfromtheir ownprofessionaladvisors.
3.3 TheBuyerundertakes:
•toinspectandsatisfyhimselfpriortothe Auctionastothe conditionanddescriptionoftheProperty(ies);
•to relyonhis ownjudgmentastowhethertheProperty(ies) matchesitsdescription; and
•tonot relyonanillustrationofanyProperty(ies) giveninthe Catalogue
3.4. Neither Artiananoranyofitsaffiliates, agents, representatives, employeesordirectorsshallbeliableforerrorsoromissionsinanyof the representationsmadeinthe AuctionCatalogueorotherwisewith respecttoauthenticity, description, orconditionofanyProperty(ies) forsalethroughthe Auction.
4.1. ArtianaprovidesanassuranceonbehalfoftheSellerthateach artworkofferedatauction,isagenuineworkoftheartistlisted Artianaguaranteestheauthenticityofsuchartworkforaperiodof sixmonthsfromtheauctionclosingdate Authenticityin relationto artworksshallmeancomplianceoftheartworkwiththedescription providedonthe website, particularlywith referencetothename oftheartist, title(ifany)oftheartwork, date, theschoolofart (ifmentioned), dimensions, medium, etc
Intheunlikely eventthatwithinsixmonthsfromthecloseofan auction, itisproved bytheBuyer, tothe reasonablesatisfactionof Artiana, thattheitem wasnotauthenticandif, in Artiana’sopinion, thiswouldhavesignificantlyimpactedtheWinningBidfortheitem, Artianashallbeentitledto rescindthesale Insuchan event, the SellerwillbeliabletorefundthepaymentfortheitemtotheBuyer,
through Artiana. Theiteminquestionwillsubsequentlybe returned totheSeller
Allsuchclaimswillbehandledonacase-by-casebasis, andinthe caseofanauthenticityclaimin relationtoanartwork, examinable proof, clearlydemonstratingthattheitemisnotauthentic, willbe required. Suchexaminableproofshouldbeprovided byanestablished andacknowledgedauthority Artiana’sdecision, with regardstosuch claims, shallbefinalandbinding.
4.2 Theaboveguarantee giveninclause4.1shallbesubjecttothe followingconditions:
•Theclaimismade bytheBuyeras registeredwith Artiana(the benefitoftheclaimisnotassignabletoanysubsequent ownersor otherswhomayacquireorhaveaninterestin anyoftheProperties)
•ThePropertyis returnedinthesameconditionthatit wasinatthe timeofdeliveryofthePropertytotheBuyer
•TheProperty wasindisputablypurchasedthrough Artiana
4.3. InthecaseofPropertieswhichhavebeencategorised by Artiana asPreciousObjects,Artianaprovidesanassurance, onbehalfofthe Seller, thateachpieceshallcomplywithcharacteristicsorfeatures mentionedintheDescriptionofthePropertyinthe Auction CatalogueforaslongasthePropertyisinthepossessionof Artiana Allcoloredstonesunlesscertifiedmayormaynotbetreatedfor enhancements. ItisthereforeadvisableforBuyersorpotentialBuyers ofsuchProperties, toinspectthePropertypriortoBiddingorprior toshipmentorBuyerpickupfrom Artiana.
Intheunlikely eventthatduringsuchinspection, theBuyerisableto provetothe reasonablesatisfactionof ArtianathatthePropertydoes notmatchthedetailsintheDescription, andif, in Artiana’sopinion, Biddersbeing awareofsucherrororomission wouldhaveBid significantlylessthantheactualSalePrice,Artianashallbeentitledto rescindthesaleandtheSellerwillbeliableto refundtotheBuyerthe SalePricepaidfortheProperty; and Artianashallhand overthe PropertytotheSellerupon refundoftheSalePricepaidtohimfor theProperty Once Artianaobtainsthe refundedamountfromthe Seller, itshallforwardthesametotheBuyer Thisguaranteewillnot beapplicablewherethePropertyisbeingshippedtotheBuyer by Artiana.
4.4. InthecaseofPropertiessuchasantiquitiesoritemsofhistorical interestwhichhavebeencategorised by ArtianaasCultural Artifacts, Artianaprovidesanassurance, onbehalfoftheSeller, thateachobject ofantiquarianorhistoricalinterestorsignificancehasbeenacquired withoutviolatinganylocalorinternationallaws.
Intheunlikely eventthatitisprovedthattheacquisition, provenance and/or ownershipofsuchCultural Artifactsofferedatour Auction issubjecttoalegaldispute, theBuyershall keep Artianaindemnified fromanysuchlegalproceedings.
4.5. Inallcases Artiana retainsthe righttoconsultwith, atthe expenseoftheBuyer, uptotwo recognizedexpertsinthefield (suchexpertsbeingmutuallyacceptabletoArtianaandtheBuyer), toexaminethePropertyunderquestionbeforedecidingto rescind thesaleandofferthe refundundertheaboveguarantee Theopinion oftheexpertsshallnotbebindingon Artiana.
4.6. Inthe eventoftheSeller’s failureto refundtheproceedsasstated inthisclause, theBuyershall returnthePropertyto Artianaand authorise Artianaasitsagenttoinitiatelegalproceedingsagainstthe Seller Anysuchstepstakenorlegalproceedingsinstituted by Artiana, againsttheSeller, shallbeatthecostoftheBuyerand Artiana’s liabilityshallbelimitedasperClause5.1
5.1. Artianahasanobligationto refundtheSalePricetotheBuyer onlyupon recoveryofsuchamountsfromtheSellerandinthe circumstancesdescribedinClause4above(AuthenticityGuarantee) TheBuyerindemnifies Artianafromanynon-recoveryofsuch amountsandagreesthattheyshallnothold Artiana responsiblein casesuchamountsarenot recoverablefromtheSeller Artiana providesinsurancecoverageonsoldLotsforsevendaysafterthe Closing Timeoftheauction Afterthatperiod, oronceaLothasbeen collected(whicheverisearlier), theLotwillbeentirelyatthe buyer’s risk. Damages, lossesorlossin valueofanyartworks(including frames)incurredduringshippingandtransitarenotcoveredasper theinsurancepolicytaken by Artiana. IncasetheBuyeroptsfor transitinsurancecoveragearrangedfor by Artiana byanyoftheir insuranceproviders,Artianashallnotentertainanydirectclaimsfor damageorlossduringshippingandtransitandthese wouldhaveto bedirectedtosuchinsuranceproviders; Subjecttotheauthenticity guaranteeabove, neither Artiana’ssuppliersnor Artiana, noranyof Artiana’semployeesoragents, shallbe responsible, eitherforthe correctnessofanystatementsastotheauthorship, origin, date, age, attributesorgenuinenessofanyPropertyinthesale, orforany mistakesintheDescription, orforany faultsordefectsinthe Properties, orforanyotheractoromission, whatsoever Artianaoffers noguaranteeor warrantyotherthanthelimitedassurancecontained intheauthenticityguaranteeabove
5.2. Itisstatedandagreedthatthe rescissionofthesaleandthe refundofthetotalSalePricepaid bytheBuyeristhesole remedy thatmaybesought byaBuyer, andsuch remedyisexclusiveandin lieuofanyother remedywhichmayotherwisebe availableunderlaw Artianashallnotbeliableforanyincidentalorconsequentialdamages incurredorclaimed.
AllcontentofthePrint AuctionCatalogue, eCatalogueandonthe WebsiteandMobile Applicationarecopyrightprotectedin favourof Artiana Alltrademarks, names, brandnames, etc usedinthePrint AuctionCatalogueandonthe WebsiteandMobile Applicationare trademarksof Artiana Any rightsnotexpressly grantedhereinare reserved. Noimage, illustrationorwrittenmaterialmaybeusedor requiredwithoutthepriorwrittenpermissionof Artiana Artianaand theSeller(s)makeno representationor warrantythattheBuyerofa Propertywillacquireanycopyrightorother reproduction rightsinit.
7.1. Artianamay validlyservetheBidder/Buyerwithlegalnotice, if required, undertheseConditionsofSale by:
•Sendinganemailtotheemailaddressdisclosed bytheBidder/ Buyerto Artiana; or
•Sendingacouriertotheaddressdisclosed bytheBidder/Buyer to Artiana.
7.2. Suchlegalnoticeshallbedeemedtohavebeenproperlyserved: •Inthecaseofemailtransmission-onthedateofthetransmission; or
•Incaseoftransmission bycourier-2 businessdaysafterthe dispatchofthenotice bycourier
7.3 ThenoticesandcontractlanguageshallbeEnglish.
7.4. Artianaisatalltimesentitledtoinvolvethirdpartiesforensuring theBuyer’scomplianceandperformanceaspertheseConditionsof Sale, andtheBuyerhereby grantshisconsentinthis regard.
7.5. Inthe eventofanydisputearisingoutoforinconnectionwith theseConditionsofSaleorrelatedtheretoinanymannerwhatsoever, thepartiesshallfirstseeksettlementofthatdisputebymediationin accordancewiththeMediationRulesoftheDIFC-LCIA Arbitration Centre, whichRulesaredeemedtobeincorporated by referenceinto thisclause TheBuyerirrevocablysubmitstothejurisdictionofthe DubaiInternationalFinancialCentre(“DIFC”)Courtsand waives anyobjectionitmayhaveto referthedisputesarisingoutoforin connectionwiththeseConditionsofSaletotheDIFC-LCIA ArbitrationCentreonthe groundsthatitisaninconvenientforum (forumnonconveniens). Ifthedisputeisnotsettled bymediation within60daysofthecommencementofthemediation, orsuch furtherperiodasthepartiesshallagreeinwriting, thentheparties agreeto referand resolvethedispute byarbitrationinaccordance withClause9.
IfanypartoftheConditionsofSalebetweentheBuyerand Artiana isfoundlegallyinvalid, illegalorunenforceable, thatpartmaybe discountedandthe restoftheconditionswill remainenforceableto thefullestextentpermissible bylaw Insuchcases, theBuyerand Artianaundertaketoreplacethewhollyorpartlylegallyinvalid, illegalorunenforceableprovisionwithonewhichislegally valid, legal orenforceableandwhoseeconomicpurposemostclosely reflectsthat ofthelegallyinvalid, illegalorunenforceableprovision.
Ifthedisputeisnotsettled bymediationinaccordancewithClause 7.5thenthedisputeshallbe referredtoand finally resolved by arbitrationunderthe ArbitrationRulesoftheDIFC-LCIA ArbitrationCentre, whichRulesaredeemedtobeincorporated by referenceintothisclause Inanyarbitrationcommencedpursuantto thisclause, (i)thenumberofarbitratorsshallbeone; and(ii)theseat, orlegalplace, ofarbitrationshallbetheDIFC Thelanguagetobe usedinthearbitrationshallbeEnglish Thegoverninglawofthe contractshallbethesubstantivelawofEnglandand Wales.
ARTIANA GUARANTEE
Allartworksofferedforsale by Artianaareauthentictothebestof Artiana’sknowledge
Artianaprovidesthefollowingassuranceto buyersonbehalfofthesellerwhomaybeacollector, dealer, retailerorgallery, thateachartwork offeredforsaleonthesiteisagenuine workoftheartistlisted.
Artianaguaranteestheauthenticityoftheartworkforaperiodofsixmonthsfromtheauctionclosingdate Authenticityin relationtoartworks shallmeancomplianceoftheartworkwiththedescriptionprovidedonthe website, particularlywith referencetothenameoftheartist, title(if any)oftheartworkitself, date, theschoolofart(ifmentioned), dimensions, mediumetc
Intheunlikely eventthatwithinsixmonthsfromthecloseofanauction, itisproved bythe buyertothe reasonablesatisfactionof Artianathatthe item wasnotauthenticandif, in Artiana’sopinion, this wouldhavesignificantlyimpactedthepricea buyer wouldhavebeenwillingtopayforthe item,Artianashallbeentitledto rescindthesale, andthesellerwillbeliableto refundtothe buyerthepricepaidfortheitem Oncethe buyer returnstheitemto Artianaitshallbehanded overtotheseller by Artiana.
Allsuchclaimswillbehandledonacase-by-casebasis, andinthecaseofanauthenticityclaimin relationtoanartwork, suchclaimwill require thatexaminableproof, whichclearlydemonstratesthattheitemisnotauthentic, isprovided byanestablishedandacknowledgedauthority The decisionof Artianain respectofsuchclaimsshallbe finalandbinding
Thisguaranteeshallbesubjecttothefollowingconditions:
1. Theclaimismade bythe buyeras registeredwith Artiana(thebenefitoftheclaimisnotassignabletoanysubsequent ownersorotherswho mayacquireorhaveaninterestinanyoftheitems).
2. ThePropertyis returnedinthesameconditionthatit wasinatthetimeofdeliveryoftheitemtothe buyer
3. TheProperty wasindisputablypurchasedthrough Artiana.
Artiana retainsthe righttoconsultwith, attheexpenseofthe buyer, two recognisedexpertsinthefield, (suchexpertsbeing mutuallyacceptableto Artianaandthe buyer), toexaminetheitemunderquestionbeforedecidingto rescindthesaleandofferthe refundundertheaboveguarantee The opinionoftheexpertsshallnotbebindingon Artiana.
Inthe eventoftheseller’s failureto refundtheproceedsasstatedabove, the buyershall returntheitemto Artianaandauthorise Artianaasitsagent toinitiatelegalproceedingsagainsttheseller Anysuchstepstakenorlegalproceedingsinstituted by Artianaagainstthesellershallbeatthecostof the buyer
COLLECTIONANDSTORAGE
Lotswillonlybe releasedfromourviewing galleryorartstorage facilityuponpresenting adeliveryorderissued by Artiana. Lotswill notbe releaseduntilalloutstandingcharges dueto Artianaaresettled
PleasenotethatLotsinourart storage facilitycanbecollected only bypriorappointmentfrom Artiana, P2-22B, Park Towers, DIFC, Dubai, UAE
ARTIANA HelpDesk:
T: +971558153030
E: info@artiana.com
OfficeHours: 10.30am-6.30pm
ImportantInformation
•AllLotswill bestoredfreeofchargefor15days fromtheauctionclosingdateeitherat Artiana’sviewinggalleryoratourart storage facility
•After15daysfromtheclosingdateoftheauction, LotsshallbesubjecttoadailystoragechargeofUSD4perLotplusanadministrativefeeof USD50payableto Artiana.
•AssetoutintheConditionsofSale, riskand responsibility forthesoldLots(includingframesorglasswhere relevant)passestotheBuyerat the AuctionClosing Time ArtianaprovidesinsurancecoverageforsoldLotsforsevendaysaftertheauction. Buyersare remindedthatitistheir responsibilitytoarrangeadequateinsuranceforpurchasedLotsthereafter
•Lotssoldatauctionmaybesubjecttoimport restrictions/taxesofforeigncountries. Itisthe buyer’ssole responsibilitytoobtainany relevant importlicenseintothe buyer’s owncountryof residenceandsettleanytaxesanddestinationclearancechargesdue
•Shipmentscanonlybemadeoncealloutstandingchargesdueto Artianaaresettledandfullpaymentofallshippingchargesis received bythe logisticsserviceprovider
Thesalewillofferacuratedselectionofhand-wovenOrientalrugsandcarpets.
Aneclecticsalecomprisingworksbyestablishedandmid-careerartistsfromAfrica,theMiddleEast, CentralAsia,theIndiansubcontinentandSoutheastAsia,focusedoncross-pollinationofart.
• Fullyclimate controlledartstoragefacility
• In-housearthandlingtruck fortransportation
•Bespokecollectionmanagementservices
• Locatedinthesafeand convenient jurisdictionofDubai International Financial Centre(DIFC)
• Assetsstoredaregoverned bya common-law frameworkwithlawsand regulationsissued inEnglish
