Auction Terms and Conditions
- On all lots sold, a buyer’s premium of 18% will be added on the hammer price.
- The terms of sale are strictly cash on delivery to the highest bidder unless special arrangements have been made prior to the sale. The fact that an item is placed on extension (submitted to an expertizing committee for certification) does not relieve the successful bidder from this condition of sale.
- All bids are per lot as numbered in the catalogue unless otherwise announced by the auctioneer at the time of sale. The right is reserved to group two or more lots; to withdraw any lot or lots from the sale, or to act on behalf of the seller. Stampbay will bid on behalf of clients, but will not be responsible for any errors in the execution of bidding instructions. The auctioneer shall regulate the bidding and in the event of any dispute his decision shall be final.
- All lots are offered subject to a reserve price. The auctioneer may implement such reserve price by bidding on behalf of the seller.
- Any lot, the description of which is incorrect, is returnable, but only within 14 days of receipt. All disputed lots must be returned intact as received. The following lots may not be returned for any reason whatsoever: Lots containing ten or more items (stamps/covers); Lots from buyers who have had the opportunity to examine them before the sale; Lots described as having defects or faults may not be returned because of any faults. No illustrated lots may be returned because of faults, perforations, centering, margins or other factors visible in the illustrations.
- Normally, invoices will be sent out to successful bidders within two days after the sale. Successful bidders are required to make payment in full before the lots are shipped out. We reserve the right in our sole and absolute discretion to demand cash payment at the time a lot is knocked down to any bidder who has not previously established credit with us or whose account is in arrears. In the event any buyer refuses to pay cash for any lot at the time it is knocked down to him, the auctioneer reserves the right to reoffer the lot immediately for sale to the highest bidder. CA Sales tax will be added to purchases where applicable.
- Credit card payments are accepted subject to a 3% surcharge.
- If the purchase price has not been paid within the time limit, nor lots taken up within seven days from date of sale they may be resold and any loss arising from such sale will be charged to the defaulter. Any account more than thirty days in arrears is subject to a late payment charge of 2% per month so long as the account remains in arrears. If the auctioneer, in his discretion, should institute any action to secure payment of a delinquent account the defaulting purchaser shall pay all expenses incurred by the auctioneer and such charges will be added to the amount owed.
- All lots are sold as genuine, but should any lot be proved otherwise by written opinion of any competent, responsible authority acceptable to us, immediate refund of the full purchase price will be made, provided that such claim is made in writing within 14 days from date of sale. If claim is not made within this period, no lots are returnable for any reason at any time. So long as we are notified within the 14-day period that an opinion is being sought and the material is submitted to an acceptable authority within that period the matter will remain open until such opinion is rendered. All “Extension” lots will be considered cleared and satisfactory to the buyer if we are not notified to the contrary within six months from date of sale. We will not be responsible for any charges incurred by the buyer for expertizing fees and costs unless the opinion states the item is not genuine, in which case we will pay actual costs up to a maximum of $50.00.
- Until paid for in full, all lots remain the property of Stampbay, Inc. on behalf of the seller.
- All shipping and handling charges will be added to the purchase price. The mode of shipment shall be at our option unless we are given specific instructions.
- Agents are responsible for all purchases made on behalf of their clients unless other arrangements are made prior to the sale.
- The placing of a bid shall constitute acceptance of the foregoing conditions of sale.
- Jurisdiction: In the event of any dispute between the auctioneer and bidders, or between any parties requesting inspection of any of the lots and the auctioneer, or between persons offering their lots to be auctioned and the auctioneer, the jurisdiction over the dispute shall be in the City and County of Santa Clara, State of California.
In the event of any dispute, the prevailing party shall be entitled to court costs and reasonable attorney’s fees.
Bidding increments :
Upto $100 $5
$100 to $250 $10
$250 to $500 $25
$500 to $1,500 $50
$1,500 to $3,000 $100
$3,000 to $5,000 $250
$5,000 to $20,000 $500
Over $20,000 $1,000