Argyll Etkin

Argyll Etkin

Estimates and Reserves

Estimates are intended as a guide only for prospective purchasers. Any bid between the listed figures would, in our opinion, offer a fair chance of success. However, realised prices may be above or below estimates, which do not include Buyers Premium. All lots have reserves, at or below the low estimate. Reserves on the majority of lots are 85% of low estimate, but some reserves may be higher or lower than this figure. No bids will be accepted below the reserve price.


Buyers Premium

Purchasers Resident within Great Britain
The buyers premium on all lots is 22,8%. Further details are given in the notes on VAT below.

Purchasers Resident outside Great Britain
Buyers premium on all lots is 19% provided all lots are posted to the purchaser by Argyll Etkin Limited.


Value Added Tax

Purchasers Resident within Great Britain
Lots marked † after the lot number are imported from outside Great Britain under the auctioneers temporary import scheme. As such VAT at the reduced rate of 5% will be added to the hammer price. On all other lots there is no VAT on the hammer price. VAT at 20% will be added to the 22,8% buyers premium on all lots, including those sold under the auctioneers temporary import scheme. Although buyers premium includes an element of VAT it will be shown as a single inclusive amount and the VAT within this amount may NOT be reclaimed by the buyer even if the buyer is registered for VAT. 20% VAT will be added to the 2% charge for paying by credit card. 20% VAT will also be
added to postage and packing charges.

Purchasers Resident outside Great Britain
There will be NO VAT CHARGES (on the hammer price, 19% buyers premium, credit card charges or postage and packing charges) provided Argyll Etkin post the lots to the purchaser. Therefore the only additions to the hammer price paid by purchasers outside Great Britain are the 19% buyers premium, postage and packing charges, and the 2% charge if paying by credit card. Note - Any purchaser collecting their lots in person will be treated as being resident within Great Britain for VAT purposes.

Philatelic Auctioneers’ Standard Terms and Conditions of Sale (1973 Revision)
Notice

Argyll Etkin Ltd., the auctioneers, exercise all reasonable care to ensure that all
statements as to cancellation, centring, colour, condition, date of issue, or of postal
markings, gum, margins, paper, perforation, printing, provenance, quality, sheet
position, status, usage, watermark, 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, are not and are not to be taken to be,
statements of fact or representation of fact in relation to the lot. They are
statements of the opinion of the auctioneers, and attention is particularly drawn to
clause 5 of the Philatelic Auctioneers’ Standard Terms and Conditions of Sale
(1973 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.

Clause 1
(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.
(c) If any dispute arises as to the highest bidder the auctioneer shall have
absolute discretion to determine the dispute and may put up again and
re-sell 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 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 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 re-sell the lot; if upon such re-sale 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 expense 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 lot to the said client.

Clause 3
(a) The auctioneer reserves the rights to bid on behalf of clients and vendors,
but shall not be liable for errors or omissions in executing instructions to
bid.
(b) The auctioneer reserves the rights 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.
(c) The auctioneer acts as agents only, and therefore shall not be liable for any
default of the purchaser or vendor.

Clause 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 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 auctioneer and the
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 re-sale 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 re-sale which shall become debt due from him.
(c) Interest at 1.5% shall be payable by the purchaser on any overdue account,
but the auctioneer shall have a discretion to waive payment of the interest.

Clause 5
(a) Each lot is sold as - (i) genuine unless otherwise described in the sale
catalogue or by the auctioneer, and (ii) correctly described. 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 of intention to question the genuineness or, as the case may
be, the accuracy of description of the lot within 7 days (or, in the case of
an overseas purchaser, a reasonable time) 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 the sale the lot
in the same condition as it was at the time of 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. Note: The onus of proving a lot
not to be genuine or incorrectly described is on the purchaser. The inability
of a recognised 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 to expertisation, all costs of such
expertisation shall be paid by the person who retains the certificate and item
or items to which the certificate 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 committee or treated by any other process unless
the auctioneer’s permission to subject the lot to such immersion or treatment
has first been obtained in writing.
(f) Any lot listed under “collections and various” or stated to comprise or
contain a collection, issue 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 in the lot, and the purchaser shall have no right to reject the lot;
except that, nothwithstanding 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
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.
(g) No lot illustrated in the catalogue shall be rejected on the ground of
cancellation, centring, margins, perforation or other characteristic clearly
apparent from the illustration.

Clause 6
Argyll Etkin Ltd. has the right to refuse admission to its premises or
attendance at its auction without giving a reason.

Clause 7
The respective rights and obligations of the parties shall be governed and
interpreted by English law and the vendor and purchaser hereby submit to
the jurisdiction of the English courts.

Attention is drawn to the Conditions of Sale, Clause 5 and paragraph “Lot purchases subject to extensions”. You must
advise Argyll Etkin Ltd. immediately on receipt of the lots if you have any queries or intend submitting
individual items for an expert committee opinion. In any event full payment for purchases must be made and refunds will
be made in the event of a lot being rejected

Argyll Etkin