DECCAN RESERVE
The House · Terms of Sale

Terms of Sale

How a lot is offered, bid for and sold in the Salon, and what the House, the seller and the winning bidder each undertake.

Version
2026-11
Issued by
Deccan Reserve, Banjara Hills, Hyderabad, Telangana

Who these terms bind

These terms apply to every lot offered in the Salon at Deccan Reserve, operated by Deccan Reserve (“the House”). They bind every member who bids and every member who consigns a lot. They sit alongside the Membership Rules, the Deposit & Refund Terms and the Privacy Policy.

By placing a bid or consigning a lot you confirm that you have read and accepted the version of these terms shown above. When the House revises them, you will be asked to accept the new version before your next bid.

The House’s role

The House runs the sale room: it admits members, vets lots, conducts the bidding and introduces the winning bidder to the seller. Title to a lot passes directly from the seller to the buyer once the buyer has paid in full.

The House acts as the seller’s agent in offering the lot. The seller pays the House a commission of 3% of the hammer price plus GST at 18% on the commission on a lot that sells (none on lots in the House’s Inaugural Sale), and nothing on a lot that does not. Different terms apply only if agreed with the seller in writing when the lot is consigned.

Lots and descriptions

  • Every lot is described by its seller and reviewed by the House before it goes live. The House checks what it reasonably can of title, provenance and condition, and declines lots it cannot stand behind.
  • Descriptions and photographs are given in good faith but are not a warranty by the House. Bidders should inspect a lot, or have it inspected, before bidding. Viewing is by appointment.
  • A seller may withdraw a lot only before it receives its first bid. After that, the lot runs to its close.

Bidding

  • Only admitted members who have confirmed their email, accepted these terms and completed the credentials the House asks for (currently identity verification and a refundable deposit) may bid.
  • All bids are in Indian rupees. Each bid must be at least the opening bid, or the current bid plus the lot’s published increment.
  • A bid is a binding offer to buy the lot at that price on these terms. It cannot be withdrawn once placed.
  • A bid placed in the final 5 minutes extends the close to 5 minutes after that bid, so that no lot is won in the last second.
  • You may not bid on a lot you consigned, nor ask anyone to bid on it for you.
  • The House’s record of bids and their times is final, save for obvious error.

Reserves and the close

A seller may set a confidential reserve: the lowest price at which they have agreed to sell.

  • Reserve met. When the lot closes, it is sold to the highest bidder at their bid.
  • Reserve not met. The lot closes unsold. The seller may still choose to accept the highest bid, and if they do, the lot is sold to that bidder at that price. Until the seller decides, the highest bidder’s offer stands, for up to 7 days after bidding closes. If the seller does not accept it in that time, or declines it, the lot is passed and the bidder is released.

Price, taxes and payment

  • The price is the winning bid, plus a buyer’s premium of 10% of it and GST at 18% on that premium, all shown on the lot before you bid. Any other tax, duty or registration charge that applies to the sale (for example stamp duty on property) is the buyer’s to pay, as the law requires.
  • The buyer pays the full price within 7 working days of the sale, in the manner the House confirms in writing.
  • Property, vehicles and enterprises transfer only by the documents the law requires for them (for example a registered sale deed or a transfer of registration). Both parties bear their own costs of those documents unless agreed otherwise.
  • Title and risk pass to the buyer when the price is paid in full and the lot is handed over or the transfer is registered.

If a buyer does not complete

If a winning bidder does not pay in time, the House may cancel the sale, offer the lot to the next-highest bidder, suspend or end the bidder’s membership, and pursue the remedies the law allows. How the bidder’s deposit is treated in that case is set out in the Deposit & Refund Terms.

Privacy between members

Bidders appear to one another only by paddle number. The seller of a lot, and the House, can see the names of the members bidding on it. See the Privacy Policy.

Liability

Nothing in these terms limits any liability that cannot be limited by law. Beyond that, the House does not guarantee the condition, authenticity or title of a lot except as it has itself verified and stated in writing, and its total liability to a buyer or seller for any claim about a lot is limited to the buyer’s premium the House received on that lot.

Law and disputes

These terms are governed by the laws of India. The courts at Hyderabad, Telangana have jurisdiction over any dispute arising from them.