Auctions and Auctioneers
Whilst not mandatory, the Philatelic Traders’ Society Ltd., have produced guidelines for their auctioneer members on various aspects of public auction sales.
The PHILATELIC AUCTIONEERS STANDARD TERMS AND CONDITIONS OF SALE (1983 REVISION)apply ONLY to an Auction Sale which includes members of the public present in person bidding against each other for themselves or as agents. The PHILATELIC AUCTIONEERS STANDARD TERMS AND CONDITIONS OF SALE (1983 REVISION) DO NOT apply to a “POSTAL BID SALE” at which “bids” consist exclusively of written or telephoned offers to buy at stated prices of limits, and which does not include members of the public present in person bidding against each other for themselves or as agents.
We reiterate that these Conditions are guidelines only, are not mandatory and, in certain individual circumstances, may not necessarily be good at law. However, they do offer some protection to the buyer, auctioneer and vendor. They may be modified or rewritten by individual auctioneers to suit their own individual requirements and we recommend that all persons intending to bid in an auction should read carefully the Conditions set out by the auctioneers themselves. The Philatelic Traders’ Society Ltd., accepts no responsibility or liability for any legal action or proceedings which may rise from the whole or partial use and/or breach of any of these Conditions by any person.
Philatelic auctioneers standard terms and conditions of sale (1983 revision)
Subject to which all lots are offered at this Auction at which members of the public are present bidding against each other for themselves or as agents.
NOTICE: The Auctioneers exercise all reasonable care to ensure that all statements as to cancellations, centring, colour, condition, date of issue or of postal marking, gum, margins, paper, perforation, printing, provenance, quality, sheet position, status, usage, watermarks, etc., in lot descriptions are reliable and accurate, and that each item is genuine unless the contrary is indicated. However, the statements are not intended to be, and are not to be taken to be, statements of fact or representations of fact in relation to the lot. They are statements of the opinion of the auctioneers, and the attention is particularly drawn to Clause 5 of the PHILATELIC AUCTIONEERS STANDARD TERMS AND CONDITIONS OF SALE (1983 REVISION) set out below. Comments and opinions concerning the characteristics mentioned above, 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 auctioneers.
a) Each lot is put up subject to any reserve price imposed by the vendor.
b) Subject to sub clause (a) of this clause, the highest bidder for each lot shall be the purchaser thereof, at the fall of the hammer.
c) If any dispute arises as to the highest bidder, the auctioneer shall have the absolute discretion to determine the dispute and may put up again and resell the lot in respect of which the dispute arises.
a) The bidding and advances shall be regulated by and at the absolute discretion of the auctioneer, and he shall have the right to refuse any bid or bids.
NOTE: 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.
b) The purchaser of each lot shall immediately on its sale if required by the auctioneer give to him the name and address of the purchaser and pay to the auctioneer at his discretion the whole or part of the purchase money. If the purchaser of any lot fails to comply with any such requirement the auctioneer may put up again and resell the lot; 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 expenses of resale, which shall become a debt due from him.
c) 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.
a) The auctioneer reserves the right to bid on behalf of clients and vendors.
b) The auctioneer reserves the right before or during the sale to group together lots belonging to the same vendor, to split up and withdraw a lot or lots at the auctioneers absolute discretion and without giving any reason in any case (without liability to any potential purchaser).
c) The auctioneer acts as agent only, and therefore shall not be liable for any default of the purchaser (provided he has not handed over the goods) or vendor.
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 the United Kingdom within 7 days from the date of sale and by a purchaser overseas within 14 days from the date of sale or such longer time as shall be agreed in writing between the auctioneers and purchaser.
b) 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.
c) Interest shall be payable by the purchaser on any overdue account.
a) Each lot is sold as (1) GENUINE unless otherwise described in the sale catalogue or by the auctioneer and (2) CORRECTLY DESCRIBED (see also Clause 5(f)). The date of any certificate forming part of the description of any lot will be included in the description.
b) A purchaser shall be at liberty to reject any lot if he (i) gives the auctioneer written notice (if possible before the sale) of intention to question the genuineness of, as the case may be, the accuracy of that description of the lot within 7 days (or in the case of an overseas purchaser to be in the auctioneer’s hands within 21 days from the date of 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 sale, the lot in the same condition as it was at the time of sale; provided that the auctioneer may, at his absolute discretion, on receiving a request in writing from the purchaser, extend for a reasonable period the time for the return of the lot, to enable it to be submitted to an agreed expert or expert committee.
NOTE: The onus of proving a lot not to be genuine, or incorrectly described, is on the purchaser. The inability of a recognised expert or an expert committee to express a definite opinion shall serve to discharge the onus on the purchaser and shall be a ground for rejecting the lot concerned.
c) Where a lot has been submitted for an expert opinion, all costs for such an option shall be paid by the person who retains the item or items to which the opinion relates.
d) Where the purchaser of a lot discharges the onus and acts in accordance with sub clause (b) of this clause, the auctioneer shall rescind the sale and repay to the purchaser the purchase money paid by him in respect of the lot.
e) No lot shall be rejected if, subsequent to the sale, it has been immersed in water, marked by an expert or expert committee, or treated by any other process, unless the auctioneer’s permission to subject the lot to such immersion, marking or treatment, has first been obtained in writing.
(NOTE: Many Continental experts now mark forged stamps; therefore it is essential for permission to be obtained from the auctioneers BEFORE submitting to these experts).
f) Any lot listed under “collections and various” or stated to comprise or contain a collection, issues or stamps, which are undescribed, shall be put up for sale, not subject to rejection, and shall be taken by the purchaser with all (if any) faults, lack of genuineness, and errors of description, and numbers of stamps within the lot, and the purchaser shall have no right to reject the lot; except 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 NOT described in the sale catalogue, and that person specifically describes 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 purposes of sub clauses (a), (b) and (d) of this clause.
g) No lot illustrated in the catalogue shall be rejected on the ground of cancellation, centring, margins, perforation or other characteristics clearly apparent from the illustration.
The respective rights and obligations of the parties shall be governed and interpreted by English Law, and the buyer hereby submits to the non exclusive jurisdiction of the English Courts.