27, Issue # 86 - October 10, 2002
Bowrings Fine Art Auctioneers http://www.bowringsauction.com
started their operations in India in late 2001 and have since held couple of auctions in Mumbai and New Delhi.
We were impressed with their clear-cut approach towards export of antiquities and art treasures. The lots were marked as 'non exportable item' wherever applicable.
We reproduce these below and sincerely hope that all Indian philatelists, amateurs and professionals, shall be inspired to implement similar standards not only for auctions but also for all their transactions.
7.1 Any Property bearing the words, "non exportable item" is in Bowring's opinion either an antiquity or an art treasure as defined under the Antiquities and Art Treasures Act, 1972 and therefore cannot be exported out of India.
7.2 All Properties not bearing the words, "non exportable item" can in Bowring's opinion be exported out of India in accordance with Indian law.
7.3 The Aggregate Price for such Properties will be held in an escrow account by Bowring's U.K. bankers and will only be transferred to Bowring's bank account in India upon the Properties being exported from India.
7.4 All buyers who are seeking to export Properties on their own must do so in accordance with all relevant provisions of Indian law and policy and must notify Bowring's by no later than 8 p.m. (Indian Standard Time) on the third day following the conclusion of the Sale. All buyers who wish to engage the services of an alternative exporter/cargo agent must provide Bowring's with the details by no later than 8 p.m. (Indian Standard Time) on the third day following the conclusion of the Sale. All buyers undertaking the export of their Properties shall be charged sales tax in respect of Properties purchased by them.
7.5 In the event an export license is refused through no fault of the buyer then the Sale shall be cancelled and the Aggregate Price will be returned to the buyer."