NityaPushta auctions are conducted as per the Conditions of sales as defined by the NityaPushta auction management team. Participation is allowed for the Individuals represented by themselves or through their agents. Hereby, the standard terms of sales are mentioned which will be applicable to sales/ auctions being conducted by NityaPushta. It is most important and we assume that you have read the Condition of Sale in full and your participation in the auction &amp;amp; bidding process is subject to the acceptance of the Condition of Sale.
- Offered Lots & Description of Lots
Each offered lot consists one or more items which are described in the best possible details. The NityaPushta team takes utmost care in describing the lot(s) as accurately as possible, however, takes no guarantee in this regard.
All the lots are scanned with high-resolution images, and wherever possible, additional scans/videos for all the sides of the lots are provided. Further, the Buyer may request to provide additional scans/ videos of one or more lots at least 3 days in advance from the date of the Live Auction, and the NityaPushta team will, in its best ability, provide the additional high-resolution scans/videos wherever possible for the requested lot(s).
Images make up the most important part of the description of the lot(s) and in case of conflict or inadvertent incorrect text of the description, images of the lots will take precedence.
The bidders are requested to observe and ensure that they are fully satisfied before they place bids on any of the lot(s). Once a bid is placed during the pre-bid or Live Bid session, it will be considered as a legally binding bid for the lot and the same cannot be retracted.
If a lot is won by a bidder, it cannot be returned back, or the sale cannot be canceled for one or more lots on the pretext of the description not being accurate or incorrect, or incomplete.
In-person Viewing: In-person viewing of lots will be open for qualified lots and will be on a pre-appointment basis. Interested bidders are requested to contact the NityaPushta auction team at least 5 days in advance of the Live Auction date. NityaPushta Auction team reserves the right to deny In Person viewing for any individual or group.
- The Buyer
The highest bidder on a lot shall be the buyer at the ‘hammer price’. Bidder shall be deemed to act as principal unless there is in force a written acknowledgment by NityaPushta that he acts as agent on behalf of a named principal.
- Methods & Priority of Bidding
Bids can be placed on any lot through the following methods:
- Pre-bidding: Pre-bidding will be done on the website (https://live.nityapushta.com) and will remain open till 1 hour before the Live Auction starts
- Book Bids: The bidders may also send their bids manually by contacting the NityaPushta Auctions team and NityaPushta will accept the bid as a book bid. Book Bids can be accepted up to 5PM of 1 day before of Live Auction
- Live Bids: All qualified registered bidders are encouraged & welcomed to participate on our revolutionary Online Live Auction platform. The online Live Auction will be conducted on our website (https://live.nityapushta.com). Bidders will be allocated paddle numbers and using their login credentials, they can easily view the Live Auction in progress and can place their interactive Live Bids.
- Priority of Bids will be as follows:
During the Live Auction, on any lot, if there is a tie of bids between Pre or Book Bid and Live Bid, in such cases, the priority will be of Pre or Book Bid which has been placed in advance. To override the Pre or Book Bid, the bidder need to place higher bid to an amount so that the Pre or Book bid is surpassed.
- Bid Increments
The bidding and advances shall be regulated by and at the absolute discretion of the auctioneer.
Bidding advances will normally proceed by the following steps:
- Up to Rs 1,000; by INR 50
- INR 1,001 to INR 2,500; by INR 100
- INR 2,501 to INR 5,000; by INR 250
- INR 5,001 to INR 10,000; by INR 500
- INR 10,001 to INR 25,000; by INR 1,000
- INR 25,001 to INR 50,000; by INR 2,000
- INR 50,001 to INR 1,00,000; by INR 5,000
- INR 1,00,001 to INR 2,50,000; by INR 10,000
- INR 2,50,001 to INR 5,00,000; by INR 15,000
- INR 5,00,001 to INR 10,00,000; by INR 25,000
- INR 10,00,001 & above; by INR 50,000
- Buyer's premium
The buyer shall pay to NityaPushta a premium of 12.5% +GST on the ‘hammer price’ on each lot.
All sales, buyer's premium & services charges are subject to Goods & Services Tax at the prevailing GST rates or Surcharges as per prevailing rates. As of the date of releasing this catalogue, the GST on Philatelic Materials is 5% and GST on Buyer’s premium is 18%
- Total Invoice Value
The total invoice value consists of following components:
Hammer Price of Lot(s) Won
GST on Hammer Price (5% at preset)
Buyer’s Premium (12.5% on Hammer Price)
GST on Buyer’s Premium (18% of Buyer Premium Amount)
Shipping & Insurance Charges (As per actuals)
Sample Working is given below for ready reference:
If, for example, a bidder wins two lots at a Hammer Price of Rs. 10,000 and Rs. 20,000 respectively, and
assuming, the shipping & insurance fee is Rs. 500, then the invoice value will be calculated as follows:
Hammer Price on First Lot: Rs. 10,000 Hammer Price on Second Lot: Rs. 20,000 GST on Hammer Price (5%): Rs. 1,500 Buyer’s Premium (12.5%): Rs. 3,750 GST on Buyer’s Premium (18%): Rs. 675 Shipping & Insurance: Rs. 500 Total Invoice Value Rs. 36,425
NityaPushta will raise Invoice to the buyer on completion of auction. Invoice will be due on receipt. Invoice can be paid by NEFT/ RTGS/ IMPS bank transfer or through UPI (Up to Rs. 50,000) or through At Par Cheque/ Demand Draft at no cost.
Payment made by Cheque/DD are subject to realization and any purchased lots will not be shipped until the full payment is not cleared.
Payment can also be made using Credit or Debit card at an additional surcharge of 2.5% of total invoice value. To make a payment using Credit or Debit card, please contact NityaPushta Auction support team. We accept Visa, Mastercard, American Express & Rupay cards which are issued in India and with primary currency of INR.
- Ownership, Collection & Shipment of purchased lots
The ownership of the lot purchased shall not pass to the buyer until he/she has not made the payment in full to NityaPushta of the ‘total amount due’.
Lots will be available for self-collection at NityaPushta location, situated at Vadodara, Gujarat, India. For self- collection, buyer need to notify NityaPushta auction team in advance and should take prior appointment. It is mandatory for the invoices to be paid before the self-collection is scheduled.
For the lots where the buyer requests for shipping, all such lots will be dispatched to the buyer through Tracked Shipping & additionally with Insurance where the invoice value is more than Rs. 5,000. While due best care will be taken by NityaPushta logistics team while shipping, however, NityaPushta takes no liability or responsibility for the losses arising out of lost shipments or damages in transit. Shipping & Insurance charges will be added to the invoice as per actuals.
- Non-Returnable: All lots purchased are non-returnable due to any reason whatsoever, including where buyer says/found the description or condition of the lot to be unsatisfied as per the buyer or their agent. Buyers are requested to satisfy themselves before placing any bid, by reviewing the lots carefully, including the scans/images/videos of the same. The only exception to this term is for the lots where the extension is granted which is explained in Clause no. 12 below.
- Extension & Return of “Not Genuine” Lots:
NityaPushta Auction, at its own sole discretion, may accept the request for the extension of one or more lot by a bidder under the following conditions / process:
- For the lots where bidder is requesting extension, he/she need to intimate about the request for extension for the lot in case they win the bid after Live Auction. Such request for extension should be placed at least 7 days in advance of Live Bidding and NityaPushta Auction will either accept or reject the request of extension.
- If the extension request is accepted by NityaPushta Auctions and if the bidder wins the lot & becomes buyer after the Live Auction, buyer will need to pay the invoice in full withing the due date of the invoice. On receipt of the final payment, the buyer will become the legal owner of the lot & the lot will be dispatched to the buyer through tracked & insured shipping or can be collected in person from our location.
- On receipt of the lot, the buyer will be fully responsible for sending the lot for certification at his/her own cost & risk and by taking appropriate legal permissions.
- NityaPushta Auctions only accept the certificates issued by Royal Philatelic Society of London (RPSL Ltd) OR BPA Expertsing Limited, London, UK.
- If any of these two agencies issue certificate for the same lot which is found to be “Not Genuine”, the buyer will intimate the same and will promptly return back the lot to NityaPushta Auctions within the stipulated time frame in the same condition as received by the buyer.
- In all such cases where the lot is certified to be “Not Genuine”, once the lot is received back by the NityaPushta Auctions, the full amount of the hammer price + buyer’s premium along with corresponding tax amount shall be refunded back to the buyer in the same payment method which was used to make the payments.
- The stipulated time frame of the completion process of extension and return is maximum 4 months (120 Calendar Days) from the Due Date of Invoice and Buyer will have to ensure that the certificate and status is notified to NityaPushta Auctions within this time frame.
- No further request for extension of time or issue of refund will be entertained once the stipulated time frame as mentioned in point (g) is lapsed, irrespective of receiving any opinion about the lot.
- Non-payment or failure to collect
If any lot is not paid for in full, NityaPushta, at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following rights and remedies:
to proceed against the buyer for damages for breach of contract.
to re-sell the lot or cause it to be re-sold by public auction or private sale.
to retain that or any other lot sold to the same buyer at the sale or any other auction and release it only after payment of the ‘total amount due’.
to reject or ignore any bids made by or on behalf of the defaulting buyer at any future auctions or obtaining a deposit before accepting any bids in future.
- Rights reserved
NityaPushta has absolute discretion without giving any reason to refuse any bid, to divide any lot, to combine any two or more lots, to withdraw any lot from the auction and in case of dispute to put up any lot for auction again.
- Serving notices
Any notice by NityaPushta to a seller, consignor, prospective bidder, or buyer may be given by first class mail or airmail and if so given shall be deemed to have been duly received by the addressee 48 hours after posting.
- Jurisdiction of Conditions
These Conditions shall be governed by and construed in accordance with law of India and will be subject to exclusive jurisdiction of Vadodara, Gujarat, India. All transactions to which these Conditions apply, and all matters connected therewith shall also be governed by laws of India. NityaPushta hereby submits to the exclusive jurisdiction of the courts of Vadodara, Gujarat, India.
- Ownership of NityaPushta Auctions
NityaPushta Auctions is a wholly owned subsidiary of Connecting Roots. Connecting Roots is the billing and auction authority, all the invoices shall be raised from Connecting Roots. For all the billing & legal execution of the auction, Connecting Roots is the primary entity.
Most Important Statutory Notice & Information
NityaPushta Auctions are conducted under the license issued by The Archaeological Survey of India. As per THE ANTIQUITIES AND ART TREASURES ACT, 1972, any antiquities or material older than 100 years cannot be temporarily or permanently exported out of India without the prior written permission of The Director General, Archaeological Survey of India.
NityaPushta Auctions cannot approve registration or sell any material to any individual who is not an Indian Citizen or to any entity which does not have its primary business ownership & existence in India. NityaPushta Auctions do not ship any material out of India and cannot take any payments in foreign currencies by any means.