Terms & Conditions
- Guarantee of Genuineness
KNG takes pride in presenting a carefully curated selection of handpicked lots from different eras, each thoroughly reviewed and deciphered by its expert team and advisory panel. All coins are physically examined, and grading opinions are issued based on in-house expertise. However, KNG Auctions does not assume responsibility for any differences in grading or authenticity assessments provided by third-party grading agencies. - Estimates
All estimates are the Auctioneer’s opinion of the expected selling price and are provided only as a guide. Estimates are not reserve prices. Bidding may occur above or within the estimate range; bids below the lower estimate may be declined at the Auctioneer’s discretion. - Bidding and Disputes
The highest bidder shall be the buyer. In the event of a dispute, the Auctioneer’s decision shall be final, and the lot may be re-offered for sale at the Auctioneer’s discretion. - Buyer’s Premium, Commission & Taxes
A buyer’s premium of 15% on the hammer price is applicable, together with GST @ 5% on the hammer price and GST @ 18% on the commission, in accordance with prevailing tax regulations. Collectively, this results in an approximate total premium of 22.70% (inclusive of GST) on the hammer price. - Auctioneer’s Authority
The Auctioneer reserves the right to withdraw any lot at any time prior to the auction going live and is not obligated to provide justification for the same. Any corrections or updates identified after catalogue publication by the expert panel will be communicated through the Errata before the auction begins. - Identity Verification
PAN card or valid government-issued Photo ID is mandatory for participation. - Intellectual Property
All images and descriptions are the property of KNG Auctions and may not be reproduced without written permission. - Reserves
Certain lots may carry a consignor-approved reserve price, not exceeding the upper estimate. The Auctioneer acts strictly as an intermediary between buyer and seller and does not hold any ownership interest in the lots. - Absentee & Commission Bids
Absentee bids are accepted free of charge but are executed at the Auctioneer’s discretion. In the event of identical bids, priority will be given to the earliest bid received. Bids below the lower estimate will not be accepted. - Buyer Information & Payment Assurance
Buyers must provide valid identification upon request and may be required to make advance deposits or provide bank references as deemed necessary by the Auctioneer. - Condition of Lots
All lots are sold in “as is” state. Descriptions are statements of opinion and not warranties. Buyers are strongly advised to inspect items physically in hand prior to bidding. Claims for materially incorrect descriptions must be made within 7 days of the auction date, with items returned in original condition. No claims for consequential losses will be entertained. - Agency
KNG Auctions acts solely as an agent between buyer and seller and shall not be responsible for any breach by either party. - Grading Disclaimer
All grading and authenticity opinions are those of the Auctioneer or its consultants and expert panel. Differences in third-party grading opinions do not constitute grounds for return. - Storage
Lots not collected within 7 working days may be subject to storage charges. Any lot not removed within 14 days may be resold without prior notice. The Auctioneer further reserves the right to resell or relist any unpaid lot and to reject any claims raised by the winning bidder after 30 days from the close of the auction if payment has not been received and no prior intimation for delay has been provided. - Payment Terms
All invoices must be settled within 10 days from the completion of the auction. Any payment outstanding beyond this period shall attract interest at 2% per month, compounded, on the unpaid balance until full settlement is made.Credit Card payments are subject to 3% surcharge. - Shipping
All shipping, insurance, and handling charges are the responsibility of the buyer, and all consignments are dispatched entirely at the buyer’s risk. Special courier requests may be accommodated at the buyer’s cost. In compliance with applicable laws and government regulations, auction lots will be shipped only within India and to an Indian address; international shipping is not permitted under any circumstances. By default, lots will be dispatched through India Post (Speed Post / Registered Post). Any request for private courier service will be accepted solely at the buyer’s risk. The Auctioneer assumes no responsibility for loss, damage, or delay in transit. Hand delivery may be arranged with prior intimation. - Delivery Verification
Buyers must verify purchases upon delivery. No claims shall be entertained after removal of lot from the Auctioneer’s premises/packaging. - Payments
Payment can be made by Indian Rupee (INR) via Bank Transfer, UPI, Cheque or Demand Draft (favoring SHARMA & COMPANY payable at Kolkata), or Cash (according to prevailing law). Money can be deposited directly in our ICICI Bank A/c – 833505000183, Delta Tower-Salt lake Branch.(Intimate us payment details by phone, SMS or email about the same). Official payment details will be shared with successful bidders. Credit Card payments are subject to 3% surcharge. Mastercard, Visa and American Express. - Legal
Any dispute arising out of or in connection with these Terms of Sale, the Auction, or any lot, except for actions initiated by KNG Auctions for recovery of dues or damages, shall be subject exclusively to the jurisdiction of the courts at Kolkata, irrespective of the location of the Auction venue.
Subject to Kolkata Jurisdiction.
These Conditions shall take effected and construed in accordance with Indian law.
