Following are the terms and conditions under which this auction is held. Clients are advised to read fully before placing bids. The placing of a bid will be interpreted as full agreement to these conditions and any other terms which are contained in this catalogue:
JOHN BULL STAMP AUCTIONS LTD (hereinafter called ‘The Auctioneer’) exercises all reasonable care to ensure that all statements contained in lot descriptions are reliable and accurate and that each item, unless indicated otherwise, is genuine and authentic. However the statements are not intended to be, and are not to be taken to be, statements of fact in relation to the lot. They are statements of the opinion of the auctioneer, and attention is particularly drawn to Clause 5 set out below. Comments and opinions concerning the lot which may be found in or on lots as notes, lists, catalogue prices, writing up or any other means of expression, do not constitute part of lot descriptions and are not to be taken as such unless they are made or specifically verified by the Auctioneer. Lot descriptions containing the term ‘Offered as is’ denote that we have been unable to establish the authenticity of the item(s) offered. This does not necessarily imply that the items are not genuine but that we are not prepared to guarantee them as such. This fact has been taken into consideration in our estimates. Lots offered ‘as is’ are not returnable under any circumstances.
Clause 1
a) A buyers premium of 18% of sale price will be added to the hammer price of each lot.
b) Subject to clause (a) of this clause, the highest bidder for each lot shall be the purchaser thereof. If the lot is knocked down to a bidder from the floor the auctioneer will call out that bidder’s card number after the fall of the hammer in confirmation that the lot has been purchased by that person.
c) The auctioneer reserves the right to bid on behalf of clients, but shall not be liable for any errors or omissions in the execution of such bids. Postal bidding forms are provided for the convenience of clients unable to attend the auction in person, the auctioneer will bid on behalf of postal/telephone/fax/e-mail bidders to the best of his ability but without any liability.
d) The auctioneer reserves the right to refuse any bid or bids without explanation.
e) The auctioneer reserves the right to refuse entry of any person or persons to the auction room without explanation and to request any person or persons to vacate the auction room without explanation.
f) Bids placed by telephone will only be accepted in exceptional circumstances. Telephone bids must be confirmed in writing, preferably before the auction. No liability will be accepted for any errors or omissions in the execution of telephone bids.
g) In the event of any dispute as to the highest bidder, the Auctioneer shall have absolute discretion to determine the dispute and may if he so decides (but not necessarily) put up again and resell the lot in respect of which the dispute arises.
Clause 2
a) The bidding and advances shall be regulated by and at the absolute discretion of the auctioneer.
b) Where an agent purchases on behalf of an undisclosed client such agent shall be personally liable for payment of the purchase money to the auctioneer and for safe delivery of the lots to the said client.
c) Where an agent bids, even on behalf of a disclosed client, the auctioneer nevertheless has the right at his discretion to refuse any such bid or bids.
Clause 3
a) The auctioneer reserves the right before or during a sale to group together lots belonging to the same vendor, to split up and to withdraw any lot or lots at the auctioneer’s absolute discretion and without giving any reason in any case (without liability to any potential purchaser).
b) As lots are sometimes withdrawn after publication of the catalogue potential purchasers should check with the Auctioneer for the latest situation before making long journeys to attend the auction. The auctioneer will not be liable for any claims for travel or other expenses in respect of lots which have been withdrawn, combined or split up.
Cause 4
a) Each lot shall be at the purchaser’s risk from the fall of the hammer and shall be paid for in full before delivery and taken away at his expense by a purchaser in Hong Kong within seven days from the date of the sale and for a purchaser overseas within fourteen days from presentation of invoice, or such longer time as shall be agreed in writing between the auctioneer and purchaser.
b) The auctioneer acts as agent between vendor and purchaser only and shall not be liable for any default of the purchaser (providing he has not handed over the goods) or vendor.
c) If any purchaser fails to pay in full for any lot within the time stated in sub clause (a) of this clause, such lot may at any time thereafter at the auctioneer’s discretion be put up for sale by auction again or sold privately; if upon such resale a lower price is obtained than was obtained on the first sale, the purchaser in default on the first sale shall make good the difference in price and the expenses of resale, which shall become a debt due from him.
d) Accounts not settled within thirty days after the date of the auction shall be liable to interest charges at the rate of two per cent per calendar month. Such interest may be waived at the auctioneer’s discretion.
Clause 5
a) Unless comprising four or more items (in which case no such warranty is given) and subject to clause 5 (b) of these conditions each lot is sold as genuine, unless otherwise described in the catalogue, and correctly described. The date of any certificate forming part of the description of the lot will be included in the description.
b) A purchaser shall be at liberty to reject any lot, comprising three or less items, only if he has made payment therefor in accordance with provision of Clause 4 above and if he (i) gives the auctioneer written notice of intention to question the genuineness or, as the case may be, the accuracy of description of the lot within seven days (or in the case of an overseas purchaser to be in the auctioneer’s hands within 21 days) of the date of the sale; AND (ii) proves that the lot is not genuine or was incorrectly described; AND (iii) returns to the auctioneer within 30 days from the date of the sale the lot in the same condition as it was at the time of the sale; provided that the auctioneer may, at his discretion on receiving a request in writing from the purchaser, extend for a reasonable period the time for return of the lot to enable it to be submitted to expertisation. Where a lot has been so submitted, all costs of such expertisation shall be paid by the person who retains the certificate and item(s) to which such certificate relates. The onus and cost of proving a lot to be not genuine or incorrectly described is on the purchaser. The inability of any recognized expert or expert committee to express a definite opinion shall serve to discharge the onus on the purchaser and shall be a ground for rejection of the lot concerned.
c) Where the purchaser of a lot discharges such onus of proof and acts in accordance with sub clause (b) of this clause, the Auctioneer shall set aside the sale and repay to the purchaser the purchase money paid by him in respect of the lot.
d) No lot shall be rejected if, subsequent to the sale, it has been marked or treated by any process whatsoever unless the Auctioneer’s permission to subject the lot to such marking or treatment has first been obtained in writing.
e) Any lots comprising four or more items, or miscellaneous lots containing items which are undescribed, shall be put up for sale not subject to rejection and shall be taken by the purchaser with all (if any) fault, lack of genuineness and errors of description and numbers of items in the lot and the purchaser shall have no right to reject any such lot; save that, notwithstanding the foregoing provisions of this sub clause, where before a sale a person intending to bid at the sale, gives notice in writing to and satisfies the Auctioneer that any such lot contains any item or items undescribed in the sale catalogue and that person specifically described that item or those items in that notice, then that item or those items shall, as between the Auctioneer and that person, be taken to form part of the description of the lot for the purpose of sub clauses (a), (b) & (c) of this clause.
f) The auctioneer reserves the right to cancel any bid with request for extension (notifying the bidder of his action) if in his opinion the item would not receive a satisfactory certificate or is not as described within the terms of the request for extension.
g) All extensions for the purpose of expertisation must be cleared within two months of the auction, after which time the right of return is forfeited, unless a longer period of extension is agreed in writing by the Auctioneer.
h) No lot illustrated in the catalogue shall be rejected on the ground of characteristics clearly apparent from the illustration.
Clause 6
The respective rights and obligations of the parties shall be governed and interpreted by Hong Kong SAR law, and the buyer hereby submits to the non exclusive jurisdiction of the Hong Kong Courts.
SPECIAL CONDITIONS
1. Bids from Minors will not be accepted unless accompanied by a full cash deposit or suitable guarantee.
2. The auctioneer will not be responsible for loss or damage to stamps or other items received inadequately housed or arranged.
3. Lots purchased on behalf of postal bidders will be forwarded by the most practical means at the risk of the purchaser who will bear all costs involved.
4. Lots will not be available for inspection or collection in the auction room. Successful purchasers should collect their purchases from our office, usually from the Monday after the auction.
5. Lots bid on and bought in by the vendor will be regarded as sold and full commission will be payable.
6. ‘Buy’ or ‘At Best’ bids are not accepted. All prospective purchasers should quote their maximum buying price.
7. In the event of identical postal bids being received for any particular item the bid received first in our office will be that which is accepted.