Terms and Conditions

Terms and Conditions of Sale

This is a public auction and mail-bid sale held by Shreves Philatelic Galleries, Inc. ("Shreves"), whose principals are licensed and bonded auctioneers. Shreves may not withdraw any lot after a call for bids has been made with respect to that lot, however, the consignor of the property included in the lot (or any other lot) may bid on and purchase the lot for his/her own account. If he/she does so, he/she must pay both the seller's commission and buyer's premium. Shreves has made advances and loans available to certain consignors and bidders in the sale.
Symbol Reference
Symbol Description
O Used
og Mint
nh Mint Never Hinged
ng unused no gum
c Cover
bl Block
u Graded Stamp
PB Plate Block
BP Booklet Pane
TC Trial Color Proof
EDU Earliest Documented Usage
FDC First Day Cover

  1. The highest bidder acknowledged by Shreves shall be the buyer. In the event of any dispute between bidders, Shreves may, at its sole discretion, immediately put the lot up for sale again. Shreves' decision shall be final and binding upon all bidders. A buyer's premium equal to 15% of the successful bid price will be added to each invoice and is payable by the buyer as part of the total purchase price.

  2. All bids are to be per lot as numbered in this catalog. Shreves reserves the right to group two or more lots together and to withdraw, prior to call for bids, any lot or lots from the sale. Bids will be accepted in whole dollar amounts only, and Shreves reserves the right to reject any bid or advance the bidding at its discretion.

  3. All sales are strictly for cash in United States dollars (no credit cards) and are due and payable immediately upon receipt of the auction invoice or, if payment is to be made at the auction site, simultaneously with receipt of the stamps. Shreves reserves the right to void a sale if payment in full of the invoice is not received by Shreves within 15 days after the date of the invoice. Lots delivered in the State of Texas and in the State of New York are subject to all applicable state and local taxes, unless appropriate resale certificates are on file with us. Shipping, handling, and insurance charges will be added to invoices for lots delivered by mail. All lots will be shipped via U.S. Express Mail to Post Office boxes, via Federal Express to street addresses, and UPS for bulky large lots (in the U.S. only). Purchases shipped via Federal Express will not be covered by Shreves’ insurance in the event that the buyer has placed a “signature release” on file with Federal Express. Buyer will be responsible for total purchase price in the event of loss. Buyers outside of the United States must furnish their own insurance during shipment. It is the responsibility of the buyer to provide adequate insurance coverage for the stamps once they are in his/her possession. Risk of loss shall be borne by the buyers following shipment of the stamps

  4. Shreves reserves the right to require payment in full before delivery of the merchandise to the buyer. Bidder personally guarantees payment, and if a corporation, an officer or principal in the corporation agrees to personally guarantee payment. Title remains with Shreves until all invoices are paid in full. If the stamp purchase invoice(s) submitted by Shreves is not paid in full when due, the unpaid balance will bear interest at the highest rate permitted by law until paid, and that if Shreves refers the invoice(s) to an attorney for collection, the buyer agrees to pay attorney's fees, court costs and other collection costs incurred by Shreves. The courts of Dallas County, Texas and New York County, New York shall have jurisdiction and venue over any suit initiated by Shreves Philatelic Galleries, Inc. to collect delinquent invoice(s).

  5. Shreves reserves the right to refuse to honor any bid which, in its opinion, is not submitted in good faith, or, as the case dictates, is not supported by satisfactory references, as Shreves in its sole discretion shall determine. In the event a successful bidder fails to pay the charges due, Shreves reserves the right to resell the merchandise and the buyer agrees to pay for the reasonable cost of such a sale including 10% seller's commission, and also to pay any difference between the resale price and the winning price of his/her previously successful bid. Shreves reserves the right to bid on any lot in the sale.

  6. Bids will be executed for mail bidders at one advance over the next highest bid in competition with floor bidders, until the maximum bid is executed for the mail bidder, or until the lot is sold. No buy or unlimited bids will be accepted. No additional commission (except for the 15% buyer's premium) is charged for executing mail bids. Shreves cannot be responsible for your errors in bidding, so check your bid sheet carefully. When identical mail bids are submitted, preference is given to the first received.

  7. Agents executing bids on behalf of clients will be held responsible for all purchases made on behalf of clients unless otherwise arranged prior to the sale.

  8. The descriptions provided in this catalog are intended solely for the use of those bidders who do not have the opportunity to view the lots prior to bidding. All photographs in the catalog are as accurate as can be reproduced with today's technology. While these photographs can show centering, perforations, and margins, they cannot be relied upon for exact reproduction of color. All bidders who have inspected the lots prior to the auction will not be granted any return privileges, except for reasons of genuineness. It is presumed that all floor bidders have inspected the lots prior to bidding. Therefore, lots purchased by floor bidders are sold "as is" and may not be returned. Floor bidders include those bidders acting as agents for others. Additionally, Shreves reserves the right to describe items differently than the descriptions shown in this catalog should such items be consigned to any future auction.

  9. All the lots are sold as genuine. For the purpose of this sale, “genuine” is defined as not faked or forged. The following conditions apply to request for expertization: (a) Mail bidders are asked to advise of any extension requests at the time of placing their bids. (b) Floor bidders must advise of any extensions in writing at the time of lot settlement. (c) Shreves will submit all items so requested by successful bidders to the reputable authority of their choice, in most instances the British Philatelic Association. (d) Purchasers of items submitted for expertization must pay as part of the purchase price all charges for expertization, including postage and handling. (e) Purchasers of items to be expertized must make payment in full immediately upon purchase prior to expertizing. Refunds will be made promptly for all sums if in the unlikely event an item is returned with a negative opinion. (f) Requests for expertization of stamps with certificates dated within the last five (5) years of the sale date will not be granted. (g) No lot may be returned due to a certification service grading a stamp differently than the grade stated in the auction description. (h) No lot will be accepted as a return from expertization if the item is indelibly marked as being altered or fraudulent by the expertizing authority. (i) No lot will be accepted as a return, for any reason whatsoever, including extension returns, after six (6) months from the sale date. Any exceptions to this time limitation must be agreed to in writing at Shreves sole discretion.

  10. No lots may be returned without a written request by the successful bidder and the written approval of Shreves. In the unlikely event of returning a lot, Shreves must receive notification of the buyer's intent within three (3) days of the buyer's receipt of lot. The following lots may not be returned for any reason whatsoever; (a) lots containing ten or more stamps; (b) lots described as having faults or defects may not be returned because of faults described, or any others; (c) no illustrated lots may be returned because of centering, margins or other factors shown in the illustrations; (d) lots described "as is"; (e) lots examined by postal viewers; and (f) no extension lot will be accepted as a return unless condition nine (9) is complied with fully; i.e. items must be submitted for expertization by Shreves and be paid for in full. Except for lots placed on extension, as per condition nine (9), no lots may be returned for any reason whatsoever after thirty (30) days from sale date. Late payment for purchase may, at Shreves option, be considered just cause to revoke all return privileges. If any disputes arise regarding payment, authenticity, or description between the bidder and Shreves, Shreves at its sole discretion, may submit the disputed matter to binding arbitration, to which the bidder, by placing a bid and hereby accepting these Terms and Conditions of Sale, agrees to be bound.

Bidding Increments

Bids will be adjusted down to the following increments:
Bidding Increments for Spink USA
From To Increment
$0.00 $100.00 $5.00
$100.00 $300.00 $10.00
$300.00 $750.00 $25.00
$750.00 $1,500.00 $50.00
$1,500.00 $3,000.00 $100.00
$3,000.00 $7,500.00 $250.00
$7,500.00 $15,000.00 $500.00
$15,000.00 $30,000.00 $1,000.00
$30,000.00 $50,000.00 $2,500.00
$50,000.00 $100,000.00 $5,000.00
$100,000.00 $300,000.00 $10,000.00
$300,000.00 $750,000.00 $25,000.00

Copyright © 1996 Droege Computing Services, Inc. -- All Rights Reserved.