The House · Questions
How the House works
Plain answers about membership, bidding and selling at Deccan Reserve. The full rules are in the Terms of Sale and the Membership Rules.
The House
- What is Deccan Reserve?
- Deccan Reserve is a private sale room in Hyderabad, India. Owners offer rare homes, land, art, motorcars, watches, jewels, collectibles and businesses to a closed circle of vetted members, who bid against each other online, with viewings and a live finale in Hyderabad.
- Is Deccan Reserve an auction house?
- It works like one: lots are sold by competitive bidding, with an opening bid, a bid step and an optional hidden reserve. Unlike a public auction, only admitted members can see full lots and bid, and bidders are known to each other only by paddle number.
- What does the House sell?
- Anything scarce whose title and condition can be verified, in eleven departments: Residences, Land & Estates, Fine Art, Motorcars, Horology, Jewels, Collectibles, Enterprises, Rights & Memberships, Yachts & Aircraft and The Cellar. Antiquities over 100 years old, and lots that need special licences, are accepted only after legal review.
- Where is it, and how often are sales held?
- The House is based in Banjara Hills, Hyderabad, Telangana. Named sales are held quarterly, each with a private viewing evening and a live finale in Hyderabad; members bid online for the week before.
Membership
- How do I become a member?
- Apply at deccanreserve.com/apply, ideally with an invitation code from an existing member. The House reads every application and usually calls before admitting anyone. Admitted members receive a private paddle number.
- How much does membership cost?
- Membership is ₹2 L a year. For the House’s first 50 members, the Founding Members, it is waived for two years. The fee is separate from the refundable bidding deposit.
- What do I need before I can bid?
- A confirmed email address, acceptance of the House’s terms, a verified identity (your PAN and one identity document) and a refundable bidding deposit of ₹2 L.
- Is my identity kept private?
- Other members see only your paddle number. The seller of a lot you bid on sees your name, so they know every bid is real. Your PAN is stored encrypted and your documents are seen only by the House’s administrators.
Buying
- How does bidding work?
- You can bid a named amount or leave a maximum, and the House bids for you only as far as needed to keep you ahead. A bid in the final 5 minutes keeps bidding open until 5 minutes after that bid, so no one wins by a last-second click.
- What does a buyer pay?
- The winning bid (the hammer price), plus a buyer’s premium of 10% of it and GST at 18% on the premium. The all-in total is shown before you confirm any bid. Payment is due within 7 days.
- Can I see a lot before bidding?
- Yes. Members can ask for a private viewing while a lot is open, and every named sale begins with a viewing evening. The House arranges each viewing; addresses and phone numbers are never passed between members.
Selling
- How do I sell through Deccan Reserve?
- Members consign a lot online with a description, photographs, an opening bid and an optional reserve. The House checks title and condition before anything is shown. Owners who are not yet members can write to the House first.
- What does it cost to sell?
- A commission of 3% of the hammer price, only if the lot sells, and none on lots in the Inaugural Sale. Nothing is charged if a lot does not sell, and photography is included for founding consignments.
- What if bidding does not reach my reserve?
- The lot does not sell automatically. You have 7 days to accept the best bid or let the lot pass, with no obligation either way.
Something not answered here? Write to the Registrar at [email protected].