1. This is a public auction and mail-bid sale held by Greg Manning Galleries, a licensed and bonded auctioneer (the "Auctioneer"). Although the Auctioneer may not withdraw any lot after a call of bids has been made with respect to that lot, the consignor of the property included in the lot may bid on and purchase the lot for his own account. If he does so, he must pay the seller's commission and buyer's premium. The Auctioneer has made advances and loans available to certain consignors and bidders in the sale.
2. The highest bidder acknowledged by the Auctioneer shall be the buyer. In the event of any dispute between bidders, the Auctioneer may at his sole discretion immediately put the lot up for sale again. The Auctioneer's decision shall be final and binding upon all bidders.
3. A premium equal to 15% of the successful bid price of each lot will be added to the invoice and is payable by the buyer as part of the total purchase price. eBay Live bidders will be charged an additional 5% buyer’s premium.
4. All bids are to be per lot as numbered in this catalog, and no lots will be broken. The Auctioneer reserves the right to group two or more lots together and to withdraw, prior to call for bids, any lot or lots from the sale. Bids will be accepted in whole dollar amounts only.
5. All sales are strictly for cash in United States dollars (no credit cards accepted) and are due and payable immediately upon receipt of the auction invoice or, if payment is to be made at the auction site, simultaneously with receipt of the stamps. The Auctioneer reserves the right to void a sale if payment in full of the invoice is not received by the auctioneer within 15 days after the date of the invoice. Lots delivered in the states of California, New Jersey and New York are subject to all applicable state and local taxes, unless appropriate permits are on file with us. Shipping, handling, and insurance charges will be added to invoices for lots delivered by mail. Overseas buyers must furnish their own insurance during shipment. All lots will be shipped via Federal Express to street addresses; and via Post Office Express Mail to post office boxes (in the United States only).
6. If the stamp purchase invoice(s) submitted by the Auctioneer is not paid in full when due, the unpaid balance will bear interest at the highest rate permitted by law until paid, and that if the Auctioneer refers the invoice(s) to an attorney for collection, the buyer agrees to pay attorney's fees, court costs and other collection costs incurred by the Auctioneer. In the event that the Auctioneer extends payment terms and the purchaser defaults in any of the payments due, then the entire deferred purchase balance shall bear interest from the date of the auction at the highest rate permitted by the law. The courts of New Jersey shall have exclusive jurisdiction and venue over any suit initiated by Greg Manning Galleries to collect delinquent invoice(s), and bidders consent to in persona jurisdiction of the courts of the State of New Jersey.
7. Mail bidders who have not previously established credit must furnish satisfactory references well in advance of the sale date. Other auction houses or retail stamp dealers are preferred references. Philatelic societies, credit cards, and retail stores are not acceptable as references.
8. All bidders who have mailing addresses outside the United States of America, the Territories of the USA, Canada or Mexico, or have addresses through the U.S. Military must deposit with the auctioneer 25% of the total amount in United States dollars. Any portion of such deposit not used will be promptly refunded after the sale. Also persons who have APO or FPO box numbers must deposit 25%.
9. The Auctioneer reserves the right to require payment in full before delivery of the merchandise to the buyer. The bidder personally guarantees payment, and if a corporation, an officer or principal in the corporation agrees to personally guarantee payment. Title remains with the Auctioneer until all invoices are paid in full. It is the responsibility of the buyer to provide adequate insurance coverage for the stamps once they are in his possession. Risk of loss shall be borne by the buyer following shipment of the stamps.
10. The Auction reserves the right to refuse to honor any bid which, in its opinion, is not submitted in good faith, or, as the case dictates, is not supported by satisfactory references, as the Auctioneer in its sole discretion shall determine. The Auctioneer also reserves the right to reject any bid that is totally out of line with the market value of the lot and minimums may be placed on some lots in the sale although most lots do not have fixed minimums. In the event a successful bidder fails to pay the charges due, the auctioneer reserves the right to resell the merchandise and the buyer agrees to pay for the reasonable cost of such a sale including 10% seller's commission, and also to pay any difference between the resale price and the winning price of his previously successful bid. The Auctioneer and its agents, employees and assignees reserve the right to bid on any lot in the sale.
11. No buy or unlimited bids will be accepted. Bids will be executed for mail bidders at a 5-10% advance over the next highest bid in competition with floor bidders, until the maximum bid is executed for the mail bidder, or until the lot is sold. No additional commission (except for the buyer's premium) is charged for executing mail bids. To increase the prospects of buying, mail bidders should use CompuBid (see separate section).
12. The auctioneer cannot be responsible for your errors in bidding, so check your bid sheet carefully. When identical mail bids are submitted, preference is given to the first received.
13. Estimates will be given upon written request. It is recommended that bidders approach or exceed the estimates in determining successful bids.
14. Bids received from persons under 18 years of age will not be accepted.
15. All the lots are sold as genuine and correctly described unless notified by the Auctioneer. For the purpose of this sale, "genuine" is defined as not faked or forged. The following conditions apply to requests for expertization: (a) Mail bidders are asked to advise of any extension requests at the time of placing their bids. Floor bidders must advise of any extensions at the time of lot settlement. (b) Unless the item has previously been expertized, the company will submit all items so requested by successful bidders to the reputable authority of their choice, in most instances the Philatelic Foundation. (c)Purchasers of items submitted for expertization must pay as part of the purchase price all charges for expertization, including postage, mail registration and handling. (d) Purchasers of items to be expertized must make payment in full immediately upon purchase in accordance with condition of 5 above. Refunds will be made promptly for all sums if in the unlikely event an item is returned with a negative opinion. (e) If and only if any lot is returned with a negative opinion, in addition to the refund outlined in 15d above, the buyer will be paid interest on the sums refunded at the rate of 5% per year. (f) No lot will be accepted as a return from expertization if the item in indelibly marked as being altered or fraudulent by the expertizing authority or is encapsulated in plastic.
16. Notwithstanding condition 15, no lots may be returned without a written request by the successful bidder and the written approval of the auctioneer. In the unlikely event of returning a lot, the Auctioneer must receive notification of the buyer's intent with three (3) days of the buyer's receipt of lot. The following lots may not be returned for any reason whatsoever; (a) lots containing ten or more stamps; (b) lots described as having faults or defects may not be returned because of faults described, or any others; (c) not illustrated lots may be returned because of centering, margins or other factors shown in the illustrations; (d) lots described "as is"; (e) lots examined by postal viewers; and (f) no extension lot will be accepted as a return unless condition 15 is complied with fully; i.e. items must be submitted for expertization by the auctioneer and be paid for in accordance with condition 5 above. Except for lots placed on extension, as per condition 15, no lots may be returned for any reason whatsoever after 30 days from sale date. (Lots returned must be housed intact in the original lotting sheet). Late remittance for purchase may, at the auctioneer's option, be considered just cause to revoke all return privileges.
17. The descriptions provided in this catalog are intended solely for the use of those bidders who do not have the opportunity to view the lots prior to bidding. The color photographs in the catalog are as accurate as can be reproduced with today's technology. While these photographs can show centering, perforations, and margins, they cannot be relied upon for exact reproduction of color. All bidders who have inspected the lots prior to the auction will not be granted any return privileges, except for reasons of genuineness. It is presumed that all floor bidders have inspected the lots prior to bidding. Therefore, lots purchased by floor bidders are sold "as is" and may not be returned. Floor bidders include those bidders acting as agents for others. Due to possible mishandling of items by subsequent owners, the Auctioneer reserves the right to describe items differently than shown on certificates from any certification service that accompany the items. For the same reasons as stated above, the Auctioneer reserves the right to describe items differently than the descriptions shown in this catalog should such items be consigned to any future auction. Describing and grading are an art, not a science, and therefore the descriptions provided in this catalog may not agree with the opinion of others (including trained experts), and the same expert may not describe and grade the same stamp with the same description and grade at two different times. Description and grading standards have changed in the past, and as time passes and market conditions change over the years, they may do so again in the future. If any disputes arise regarding payment, authenticity, or description between the bidder and the Auctioneer, the Auctioneer, at its sole discretion, may submit the disputed matter to binding arbitration, to which the bidder, by placing a bid and hereby accepting these Terms and Conditions of Sale, agrees to be bound.
David Graham, Principal Auctioneer
Walter Mader, Auctioneer