Osian's Auction Catalogue Automobilia The Art of the Historical Vehicle | October 2018

OSIAN’s – Connoisseurs of Art 102 The Terms and Conditions set out below are the terms and conditions applicable to the Auction and are binding on the Purchasers, intending Purchasers, Sellers and Osian’s- Connoisseurs of Art Private Limited (“ Osian’s ”). These Terms and Conditions and all other contents in the Auction Publication are subject to amendment by Osian’s from time to time by the posting of notices or by oral announcements made during the Auction. By participating in the Auction, in person or otherwise, intending Purchasers, Purchasers and Sellers agree to be bound by these Terms and Conditions. 1. Definitions “Antiquity” ; Antiquity shall have the same meaning as defined in India under The Antiquities & Art Treasures Act, 1972. “Auction” : Auction shall mean the private Auction of Lots held by Osian’s wherein each Lot is sold to a Purchaser at the Purchase Price along with any taxes as applicable. “Auction Publication” : Auction Publication shall mean this publication and shall include any advertisement, brochure, textual, pictorial and educational information, flyers, estimates or price list published by Osian’s in respect of the Auction. “Lot” : Lot shall mean any item(s), being one or more, paintings, drawings, sculptures, photographs, etchings, engravings, lithographs, oleographs, crafts, film memorabilia, film publicity material, lobby cards, posters, books, songs, LP records, Automobilia being the art of historical vehicle Including paintings, posters, photographs, Vintage toy cars and vintage signages or any other works of art being offered for sale at the Auction and the item(s) described against any lot number in the Auction Publication on “as is where is basis”. “Auctioneer” : Auctioneer shall mean any person(s) who is/are nominated by Osian’s to be the Auctioneer(s) at the Auction. “Hammer Price” : Hammer Price shall mean the amount of the highest Bid accepted by the Auctioneer in relation to a Lot excluding the Buyer’s Premium and any taxes as applicable. “Purchase Price” : Purchase Price shall mean the Hammer Price in respect of a Lot sold at the Auction together with the GST (Goods and Services Tax) payable if any, plus Buyer’s Premium (Commission earned by Osian’s) including GST if any and Freight, Packing, Insurance, Warehousing and such other charges, expenses and payments due from the Purchaser of such Lot. “Seller” : Seller shall mean any person, being an individual artist, collector, 1 organization or art gallery, including Osian’s, owning a Lot and depositing such Lot with Osian’s for Sale at the Auction. If Osian’s has an ownership stake in any lot, it will be clearly indicated in the Provenance description and will carry the symbols ** against the ‘Provenance’ term. “Bid” : Bid shall mean an offer made to Osian’s by an intending Purchaser to purchase a Lot, either in person at the Auction, or by a Written Bid Form received by Osian’s on or before 3.00 p.m. Indian Standard Time (IST) on the day of the Auction, on the telephone during the Auction or through an authorized representative at the Auction. “Purchaser” : Purchaser shall mean the person, with the highest bid accepted by the Auctioneer for a Lot, who agrees to purchase such Lot at the Purchase Price and immediately pays to Osian’s, at least 20% of the Purchase Price as advance payment for the Lot to be purchased. 2. Role of Osian’s Sale of Lots at the Auction are undertaken by Osian’s as an agent for the Seller except when it wholly or partially owns any lot as principal or has made a financial commitment in respect of, and puts it up for sale as a Seller. (Please refer to ‘Seller’ clause for further clarity). 3. The Sale Sale of Lots shall be by auction at the Hammer Price. GST and other taxes, levies and duties shall be charged separately, if applicable. The taxes shall be collected and paid by Osian’s on behalf of the Seller. In the event of Lots to be exported outside India by Osian’s, no GST will be charged to such Purchaser including on the Buyer’s Premium commission. However, other services such as Freight, Shipping and Insurance will be payable by such purchaser. Courier and octroi charges, if applicable, will be charged extra. (The current rates of GST are given below for ready reference). Terms and Conditions Note: The rates on the date of the transaction will be applicable, irrespective of what is stated above. 4. The Purchaser The person making the highest Bid accepted by the Auctioneer for a Lot and immediately paying to Osian’s, at least 20% of the Purchase Price as advance payment for the Lot proposed to be purchased, will be the Purchaser of such Lot at the Purchase Price. Every intending Purchaser shall be deemed to act as principal unless there is in force a written acknowledgement by Osian’s that such intending Purchaser is an authorized representative acting as an agent on behalf of a named principal. Subject to the Auctioneer’s discretion, the striking of his hammer marks the acceptance of the highest Bid as the Hammer Price. Once the bid is accepted, no rejection claim will be entertained and accepted for any reason whatsoever. Any dispute during the Auction will be settled at the Auctioneer’s absolute discretion. The conclusion of the contract for sale between the Seller, Purchaser and Osian’s will be on receipt of full payment and dispatch of Lot(s) by Osian’s. 5. The Bidding Before the Auction, Osian’s will accept Written Bids for each Lot from intending Purchasers. If at the Auction, no Bids higher than the starting Bid are offered, that Bid shall become the Hammer Price, subject to such Bid being higher than the minimum reserve price for such Lot. The minimum reserve price shall be determined and fixed jointly by Osian’s and the Seller. In the event of higher Bids being offered, the Auction will continue by means of Paddle Bidding explained in Clause 7. 6. Absentee Bidding i. If instructed and where possible, Osian’s will, for the convenience of intending Purchasers provide the service of executing Bids and advising intending Purchasers. This service shall be free. The intending Purchaser shall mention the maximum amount till which he/she is authorizing Osian’s to Bid as the Hammer Price for every Lot on his/her behalf. Lots will be bought as cheaply as is allowed by such other bids and the minimum reserve. In the event of identical bids, the earliest will take precedence. Buy or unlimited bids shall not be accepted by Osian’s. Intending Purchasers are requested to use the bidding slips provided to check Lot numbers and descriptions and to bid as early as possible. The Bid Price mentioned on the bidding slip shall be the amount up to which the intending Purchaser would bid if the intending Purchaser were to attend the Auction. Sr. No. Category GST % 1 Painting 12.0 2 Sculpture 12.0 3 Prints & Graphics 12.0 4 Film Memorabilia 12.0 5 Books 12.0 6 Toys (other than electronics) 12.0 7 Buyer’s Premium 18.0