| 1. |
This
is a mail and public auction conducted by the PHILIPPINE NUMISMATIC and
ANTIQUARIAN
SOCIETY herein referred to as the PNAS respectively. |
| 2. |
Lots
shall be sold to the HIGHEST BIDDER, THAT IS ONE INCREMENT ABOVE
THE
SECOND HIGHEST BID. In case of tied mail bids, preference shall be
given to the bid first received. However, in case of a tie between the
floor and mail bidder, the lot will be awarded to the mail bidder unless
the floor bidder raises his bid at one increment above the mail bidder
maximum bid. |
| 3. |
All
lots have been examined very carefully by the Auction Committee and are
therefore sold as genuine unless otherwise specified in the lot description.
In case of dispute, the buyer may obtain a certificate of philatelic materials
from reputable authority at his expense, such as the Philatelic Foundation
or the American Philatelic Society or the American Numismatic Association
for the numismatic materials. Since all lots must be paid in advance upon
receipt of Notice of Purchase, a refund will be made on any lot proven
otherwise than described. Bidders must notify us within 30 days after the
auction that an opinion is being sought. However, under any circumstances
no lot will be accepted back four (4) months after the auction date. A
finding of “NO OPINION” shall not be grounds for refund. |
| 4. |
THIS
IS NOT AN APPROVAL SALE. The price indicated on each lot is the minimum
stipulated starting bid and not an estimate. Any bid below this amount
will not be accepted. Lots incorrectly described are returnable within
seven (7) days of receipt and must be returned in the identical condition
as shipped. The following lots cannot be returned for the following reasons:
Lots of 10 items or more; Documents and literature; lots described as having
faults; illustrated lots; and lots sold “AS IS”. Lots obtained by floor
bidders and those acting, as agents for another party cannot be returned. |
| 5. |
Minors
may, upon special request, be allowed to bid provided they can show conclusive
proof of parental consent to purchase items in the Auction. |
| 6. |
A
5% BUYERS COMMISSION WILL BE ADDED TO THE HAMMER PRICE. Postage, handling
and insurance (if required) will be charged to the buyer. Mail bidders
are expected to make payment with five (5) days after receipt of notification.
Delivery to the successful mail bidders will be via Philippine registered
mail, return receipt requested, and addressed to what has been specified
in his bid sheet, unless prior alternative delivery arrangements have been
made. Proof by the Association that the lot won by the mail bidder has
been sent via registered mail to the specified mailing address of the bidder
shall constitute delivery. The sponsor and organizers of this international
auction will not be held responsible for any loss in the mail. |
| 7. |
Accounts
can be settled either by personal checks, bank draft or telegraphic transfer,
payable in U.S. currency and drawn only in any U.S. banks, and made payable
to PNAS and addressed at:
UNIT
404, ACL SUITES
#72
13TH AVE., CUBAO, QUEZON CITY PHILIPPINES 1110
Personal
check payment must be cleared first (US clearing). Philippine Banks require
thirty (30) days clearing time from the date of deposit for foreign checks.
Lots will be shipped immediately on payments in the form of CASHIER or
MANAGER CHECK and BANK DRAFTS. PNAS will not be held responsible for any
loss of check's and specially cash by mail. |
| 8. |
In
order to participate in the floor bidding prospective bidders are required
to register on the day of the auction. Lots sold on the floor to mail bidders
shall be referred to as book bids. Unless prior arrangement has been made
with the PNAS all floor bidders are required to settle all accounts right
after the auction. |
| 9. |
Only
whole United States Dollars are recognized in this auction. Bidders in
fraction of the U.S. dollar will be reduced to. The price bumps or bidding
increments are as follows: US$10-$50 ($2); $51-$100 ($5); $101-$500 ($10);
$501-$1,000 ($25); $1,001-$2,000 ($50); $2,001 above ($100). |
| 10. |
The
Auctioneer cannot be responsible for errors in bidding. Please make certain
that you bid on the correct lot and that your bid is the maximum that you
are willing to pay. The PNAS reserves the right to regroup lots, withdraw
lots and act on behalf of the sellers. Allow at least 15 days for bids
sent via regular air post. Only lots not sold on the floor will be awarded
to late bidders. |
| 11. |
All
bid sheets submitted by the mail bidders must be signed. Company bids must
be submitted with the signature of a duly authorized agent of such Company. |
| 12. |
Bidding
in this sale constitutes acceptance of all the TERMS ANND CONDITION OF
SALE. |
