The following pages are designed to give any prospective bidders useful information on how to bid and buy at Sidharta Auctioneer's Fine Art auction (the "Auction" or the "Sale").
The estimated price range of each lot, printed below the description of each lot, is intended solely to be a guide for prospective buyers. Any bid between the high and the low estimated price range would, in our opinion, offer a fair chance of success in the purchase of the lot. However, all lots, depending on the degree of competition, can realise prices either above or below the estimates. Estimates do not include the Buyer's Premium.
The reserve is a confidential minimum price the seller is willing to accept in the sale of the lot. If the highest bid of the lot fails to reach the reserve, the lot will not be sold.
Prior to the Auction, viewings will be open to public and free of charge. The condition of each lot is described in the condition report which Sidharta Auctioneer prepared with reasonable effort and good professional manner. We strongly encourage interested buyers to request these condition reports and to examine the lots properly. The absence of reference to the condition of a lot in the catalog description does not imply that the lot is free from faults or imperfections.
First-time bidders who would like to participate in our auction are required to place a security deposit of IDR 10.000.000 for Fine Art Auction and IDR 5,000,000 for Artfordable Auction also Collectibles Auction, which is to be transferred or deposited to Sidharta Auctioneer's bank account 24 hours prior to the start of the auction.
If the bidder was not successful in his/her bid on any lots in auction, the security deposit will be transferred back to his/her bank account. If the bidder placed a winning bid in the auction, then the security deposit will be considered as a down payment towards the bidder's final auction invoice.
The Auction is governed by the Terms for Buyers and Sales Terms printed in this catalog. These Terms apply to all aspects of the relationship between Sidharta Auctioneer and actual and prospective bidders and buyers. Anyone considering bidding in the Auction should read and understand them carefully. They may be amended by way of notices posted in the saleroom or by way of announcement made by the auctioneer.
Registration is required for all bidders 30 minutes prior to the start of the Auction. The identity of bidders will be verified. Bids may be executed in person by the use of paddle or by telephone through Sidharta Auctioneer's staff during the Auction, or in writing prior to the Sale. The Auction speeds vary, but usually average between 50-60 lots per hour.
We reserve the right to refuse admission to the premises or participation in any auction and to reject any bid.
The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may further bid on behalf of the seller, by placing consecutive or responsive bids for a lot, up to amount of the reserve. The lots are auctioned in consecutive numerical order with video image or any manner of display we consider appropriate. Bidding is done in Indonesian Rupiah in incremental price increase. The auctioneer accepts bids from those present in the saleroom, from telephone bidders, or by absentee bids left with us in advance of the Auction.
Bidding generally opens below the low estimates and progresses in the following increments:
Rp. 1.000.000,- to Rp. 3.000.000,- by Rp. 200.000,-
Rp. 3.000.000,- to Rp. 5.000.000,- by Rp. 300.000,-
Rp. 5.000.000,- to Rp. 10.000.000,- by Rp. 500.000,-
Rp. 10.000.000,- to Rp. 20.000.000,- by Rp. 1.000.000,-
Rp. 20.000.000,- to Rp. 30.000.000,- by Rp. 2.000.000,-
Rp. 30.000.000,- to Rp. 50.000.000,- by Rp. 3.000.000,-
Rp. 50.000.000,- to Rp. 100.000.000,- by Rp. 5.000.000,-
Rp. 100.000.000,- to Rp. 200.000.000,- by Rp. 10.000.000,-
Rp. 200.000.000,- to Rp. 300.000.000,- by Rp. 20.000.000,-
Rp. 300.000.000,- to Rp. 500.000.000,- by Rp. 30.000.000,-
Rp. 500.000.000,- to Rp. 1.000.000.000,- by Rp. 50.000.000,-
Rp. 1.000.000.000,- and above: according to Auctioneer's direction
The auctioneer may change the increments during the course of the Auction at his or her discretion.
To bid in person at the Auction, registered bidders should collect their numbered paddle before the Auction begins. Proof of identity references and registration will be required to collect paddles.
The paddle is used to indicate your bids to the auctioneer during the Sale. Successful buyers of any lot should ensure that their paddle is visible to the auctioneer and that it is their number that is called out as the successful bidder. Should there be any doubts as to price or buyer, the bidder should draw the auctioneer's attention to it immediately. All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses.
Please do not mislay your paddle; in the event of loss please inform the sales clerk immediately. At the end of the Sale, please return your paddle to the registration desk.
Prospective buyers who are unable to attend the Auction can submit absentee bids using Written Bid form that can be found on page 145 of this catalog. This service is confidential. Absentee Bids can be in the form of a Written Bid or Telephone Bid. The Absentee Bid type should be indicated on the form.
Absentee bids must be confirmed before the Sale by letter. To ensure satisfactory service to bidders, please ensure that we receive your bids at least 24 hours before the Sale.
Prospective buyers who would like to entrust Sidharta Auctioneer to execute bids on their behalf can place a written bid ("Written Bid"). In the Written Bid form you MUST specify the lot number, the description of the item and the top limit. Unlimited or unspecified bids such as instructions to (buy) will not be accepted. Although the Top Limit is denoted, lots will always be bought as cheaply as is consistent with other bids and the reserves. In the case of identical bid limits, the earliest bid received will take precedence.
Prospective buyers who would like to participate in our auction but are unable to attend the auction, can do so remotely through the moderation of Sidharta Auctioneer's staff by placing phone bids on the lots. Due to limited number of phone bid representatives, we can only cater to five (5) phone bidders of the same lot, and It will be on a first come, first served basis. Therefore if you wish to place phone bids, we strongly advise you to please register your bids as soon as possible. If all our phone bid representatives are already fully occupied, then your phone bids will be automatically switched into written bids. For all absentee bidding, phone or written, you are required to state your top limit of bid in the absentee bid form.
The fall of the auctioneer's hammer indicates the final bid (the "Hammer Price"). The auctioneer's will call out and record the paddle number of the buyer. If your written bid is successful, you will be notified immediately after the Sale by post. Bidding may be reopened at the auctioneer's discretion.
Since bidding is carried out in Indonesian Rupiah, a currency converter may be operated, based on the most recently available rates of exchange quoted to us by Bank Indonesia applicable on the date of the Auction. However, please note that figures shown in foreign currencies are only approximates and do not represent exact exchange rates.
Payment will be requested in Indonesian Rupiah. Payment must be received by Sidharta Auctioneer in good funds within five calendar days as of the Sale and may be made by telegraphic transfer direct to PT. Balai Lelang Horizon's account at:
or
Please include your name and invoice number with your instructions to your bank.
Payment using Visa, Mastercard, American Express, and BCA Card credit cards are also acceptable, although a certain surcharge will be added.
Although personal and corporate cheques are accepted, please be advised that property will not be released until such cheques have been cleared. Payment in cash is limited to a maximum amount of Rp. 20.000.000,- per invoice or customer.
If payment of the bidder's final auction invoice is not yet received after two weeks from the auction date, Sidharta Auctioneer reserves the right to cancel the purchase, without prior notice, and place the bidder on its auction bidder blacklist.
Lots will be released to the buyers or their authorized representative when full and cleared payment has been received by Sidharta Auctioneer.
Items retained will be covered by insurance from the date of sale for a period of seven days or, if by then the goods have been collected, to the time of collection. After seven days or from the time of collection, whichever is the earlier, the lot will be entirely at the buyer's risk.
Buyers are responsible for arranging packing, shipping and delivery. We suggest that potential buyers start making contact with a number of different agents even before bidding, to compare services and prices. Sidharta Auctioneer can assist you in finding and contacting some bona fide agents and provide them with the information (dimensions, weight, etc.) necessary to calculate packing, shipping and delivery costs.