ACCEPTANCE OF TERMS: Submitting a bid by any method constitutes acknowledgment and acceptance of the following Terms of Sale.

AUCTIONEER: Paul Wales of Classic Stamps Ltd is the auctioneer, and adheres to the standard terms of sale of the New Zealand Stamps Dealers Association. The Auctioneer has the final decision in settling any dispute. The Auctioneer reserves the right to
(a) Refuse admission to any person/s to either the viewing or the saleroom,
(b) Refuse any bid,
(c) Bid on behalf of clients.
Whilst every care and attention is taken in undertaking such bids and written instructions, the Auctioneer regrets he cannot accept any responsibility for any errors or omissions in executing said bids.

DESCRIPTIONS: We endeavour to describe lots accurately therefore giving buyers correct information. A Description consists of the following;
1) Condition;
2) Title and Description;
3) Image/s of the lot.

ESTIMATES: The figure in the Estimate column is what we believe to be the fair and reasonable price for the lot, excluding any applicable GST (Goods & Services Tax).

CURRENT BID: The figure in the Current Bid column is the
1) Reserve Price on the Lot, indicated with a (R) if no bid has been made - or
2) The Current Bid on the Lot

Bids below any Reserve Price (generally set at 70% of the Estimate) will not be accepted. Any bid below this amount will be automatically rounded up to the Reserve Price.

BIDDING: Bids may be made be made online or by mail, e-mail or phone. Bids received by phone must be confirmed in writing prior to the auction day. Placing a bid constitutes acceptance by the Bidder of the these Terms of Sale as set down by the Auctioneer. We reserve the right to refuse any bid, or to refuse bids from any person, for any reason.

BID STEPS: Acceptable Bid Steps for this auction are shown here,

$0.00 to $20.00	$1.00		$500.00 to $1000.00	$25.00
$20.00  to $50.00	$2.00		$1000.00 to $2000.00	$50.00
$50.00 to $100.00	$5.00		$2000.00 to $5000.00	$100.00
$100.00 to $300.00	$10.00		$5000.00 to $10,000.00	$250.00
$300.00 to $500.00	$20.00		$10,000 and above	$500.00

Any Bid placed by any method that does not comply with these bid steps will be automatically increased to the next Bid Step.

BUYER'S PREMIUM: 
We do not normally charge a buyer's premium. If we do, it shall be noted in the auction details (left side of auction front page).
 
GOODS & SERVICES TAX (GST):
1) For auctions with no 'Buyer's Premium', New Zealand law requires that GST of 15% be added to the hammer or sale price of a taxed lot and shall be payable by the buyer, unless the taxed lot is exported to another country.
2) For auctions with a 'Buyer's Premium' noted, GST of 15% will be added to the Buyers Premium for New Zealand bidders only.
No GST will be added to the knock down price for lots where a Buyer's Premium applies.

BUYER: The Buyer of a lot shall be the person who places the highest bid, at one bid step over the second-highest bid or at the Reserve Price if there is only one bid. In the event of equal bids being received, the earliest such bid shall be successful.

A lot is at the Buyer's risk once it has been sold to them at auction but ownership (legal title) will not pass to the Buyer until the Auctioneer has received payment in full for the lot.

PAYMENT: Payment is due immediately a lot is sold, or immediately upon receipt of an invoice. The price is the Selling Price, plus GST if applicable.

In the event that the Buyer does not make payment in full for the lot(s) within 30 days from the date of the invoice, the Auctioneer shall have the right to exercise any one or more of the following rights and remedies:

1) To terminate the contract with the Buyer, in which case any monies received from the Buyer shall be forfeited to the Auctioneer;
 
2) To terminate the contract and resell the lot(s) at any time, in which case any resulting shortfall, plus costs including any accounting fees, interest, insurance and resale expenses, shall be met by the original Buyer;
 
3) To apply any monies due at any time from the Auctioneer to the Buyer in payment of the outstanding amount;
 
4) To take legal action against the Buyer for damages for breach of contract.

RETURN OF LOTS: A lot may be returned, within a reasonable time, only where ther has been an error in the description. A lot that has been inspected by the buyer or by the buyer's agent cannot be returned for any reason. A lot that is illustrated or of which an illustration has been supplied to the buyer or to the buyer's agent cannot be returned for any reason that is apparent from the illustration.

A lot expressed to be a "range", "group", "selection", "array", "collection"," accumulation" or similar, or any other lot containing more than 10 items - excepting sets of stamps - is always offered "as is" and cannot be returned for any reason. Similarly, other lots offered "as is" cannot be returned.

EXTENSIONS: A request for an extension to submit a lot to a recognised expert or expert committee for a Certificate of Authenticity must be made in writing prior to the day of the auction. The Auctioneer shall have an absolute discretion not to grant an extension. (In particular, an extension will not normally be granted if the lot is offered with a recent Certificate of Authenticity.) If an extension is granted, the Buyer must make payment in full for the lot including the buyer's premium, prior to the lot be despatched to the expert committee.

The amount paid will be refunded in full if the lot is returned with an acceptable "bad" Certificate. All costs associated with obtaining a certificate shall be borne by the Buyer, unless the lot is found to be not as identified in the catalogue or listing, in which case all appropriate costs associated with obtaining the Certificate shall be refunded by the Auctioneer .

A lot described as being defective in any way may not be returned should the Certificate obtained mention any fault not noted in the lot description. The buyer shall not be entitled to reject an item if the certificate includes any findings that does not materially affect the grading of the lot.

Unless otherwise agreed, nomination of the appropriate expert or expert committee shall be made by the Auctioneer. The sending of the lot to the agreed expert committee shall be made by the Auctioneer with the costs to be borne by the Buyer.

Should the Auctioneer agree to the buyer's nomination of an expert or expert committee, the extension granted will be for a period of no more than 90 days from the date of the auction. If a Certificate has not been obtained within 90 days from the date of the auction, the extension shall lapse and the Auctioneer may thereafter refuse to accept the return of the lot.

AMENDMENTS: Any amendments to these Terms and Conditions must be expressly agreed upon in writing by both parties.

Submitting a bid by any method constitutes acknowledgment and acceptance of these Terms of Sale.