A successful bidder makes the balance payment for the Property either by Cash / Account Payee Cheque / Demand Draft / Credit or Debit card all in Indian rupees.
No, there is a lot of art which is not exportable. The Auction House may assist the bidders on Properties which is or not exportable. The successful bidder will have to complete all formalities if the Property is to be exported.
One has to Register with the Auction House through their registration process. On being registered (which is at the sole discretion of the Auction House) a number / Paddle is issued depending on how one would like to bid. One can bid on the net / telephone / absentee bid or by being present at the Auction. The Property put up for Auction is displayed in an Auction catalogue giving Lot Nos., Photograph of the art to be sold, the Artist, the Medium, the Size and the Low and High Estimates. The Property of each Lot is then put up to bid and sold to the highest bidder. The successful bidder on completion of the financial formalities with the Auction House i.e. payment in full towards the property being the Hammer price + Buyer's Commission + any taxes applicable on the day is then delivered the Property.
An auction is a sale in which works of art (Property) is sold to Highest Bidder. This is a transparent way of selling as it gives a chance to buy at a fair price. This enables a buyer and seller to benefit by getting the fare value for the Property.
A consigner approaches an Auction House with his / her willingness to sell their piece of art (Property). The Auction House undertakes the Authenticity and Provenance from the seller and a Reserve Price is agreed upon by the seller and the Auction House. An agreement is signed between the two. The Property is not sold below the Reserved Price. On sale of the Property a seller's commission and applicable taxes are deducted before payment is made to a seller.
If you are interested in consigning any work belonging to you kindly contact consignment@emamichisel.com
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