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| Cape Philatelics - Auction Terms & Conditions |
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1. The auction takes place voluntarily and against immediate cash payment in South African Rands. Foreign currencies are accepted at current exchange rates or as credited by a major South African bank. The day of receipt or credit applies. The auctioneer has the right to withdraw, regroup or refuse to knock down any lot. In the event of identical bids, the one first received takes preference. Bidding increments are at a minimum of 5% and a maximum of 10%.
2. Lots are rewarded to the highest bidder, which creates an obligation to take delivery. A commission of 10% is added to the purchase price. Purchase price & commission are due immediately. Bidders for third parties are jointly & severally liable with such third parties.
3. All lots are liable to South African Value added Tax to be added to the commission (i.e. there is no VAT added to the purchase price, but the 14% VAT results in an 11.4% commission). No VAT applies to any lot that is forwarded to a foreign country.
4. All invoices are payable immediately on receipt, or within 30 days to approved clients. In the event of undue delay of payment, a surcharge of 5% is raised, plus 1% interest per month, or fraction thereof. Additionally, the auctioneer reserves the right to either sue for payment, to rescind the sales transaction and to dispose of the lots elsewhere while charging all price differences to the original purchaser, or to re-auction them.
5. In principle, the lots are handed over upon payment of the auction invoice. It is solely in the discretion of the auctioneer to hand over lots concurrently with invoice presentation. The lots are privately insured by the auctioneer and forwarded to the purchaser by mail or other means; as a rule; as registered or valued matter. All larger valued lots are forwarded by courier. Forwarding costs & insurance premiums are at the purchaser’s expense.
6. Ownership of all acquired lots is retained until full payment of the entire invoice is rendered. Prior to that time, they may be neither resold, pledged nor otherwise transferred to a third party by the purchaser. Offset pleas of any type are precluded.
7. Extension of payment is granted by the auctioneer upon request, supported by appropriate references. Such special arrangements must be agreed upon prior to the auction and must be in written form.
8. The lots on auction have been described conscientiously and with greatest care. In the case of photographed stamps, the photograph is determinative of margins, perforations, cancellations, etc.
9. The auctioneer’s liability for postage stamps sold is as follows:
9.1 In the case of expertized stamps, the purchaser acknowledges the (expertizations) and signatures mentioned in the lot descriptions as binding, particularly with regard to genuineness and quality of the lots as well as the completeness of contents of the expertization certificates. The auctioneer’s liability beyond the scope of the above is precluded.
9.2 In the case of non-expertised stamps, the auctioneer assumes personal liability for the genuineness of the stamps sold in accordance with the description of that lot. The auctioneer declines any liability for collections, mixed lots and accumulations.
10. In the case of complaint regarding genuineness, according to paragraph 9, above, proof of forgery must be presented with certificate of a competent expert. The original lots which are subject of the complaint must be submitted in the condition which prevailed at delivery. Complaints as to quality must be received within 14 days of receipt of stamps. Upon request, extension of the limit may be extended under special circumstances, in written form. However, the extension of the time limit for complaints, does not have the consequence of extending the time limit for payment. In the event of justified complaints, the lot is accepted back and the purchase price and surcharge are refunded. In such instance, the cost of re-expertization is borne by the consignor. In the event of unjustified complaints, the cost of the re-expertization is borne by the purchaser. All claims are void if the purchaser is in arrears with payment of the purchase price or surcharge.
11. All lots may inspected at Cape Philatelics prior to the closing date within hours indicated in the catalog. Upon request, we provide orientation to mail bidders about any expertization certificates by furnishing photocopies and by describing the contents and condition of the lots.
12. Written bids are executed personally by the auctioneer in strict conformity with the principal’s interests, although without recourse. The principal may submit alternative bids and establish an overall limit for the total of his bids.
13. The auction is subject to South African law and place of performance and exclusive court venue, Cape Town, South Africa. However, the auctioneer, reserves the right, to sue the debtor at his legal residence. Additionally he may summarily exclude persons from the auction.
14. With submission of bids or purchase requests, the above terms of condition of sale are accepted in their full extent. They also apply analogously to all business transactions involving auction material conducted outside the auction. |
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Auction
Highlights |
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Highlights from
December 2008 auction!
Rhodesia Admiral Die I 8d.
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