Kupersmit Philatelic Auctions

Kupersmit Philatelic Auctions

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INSPECTION OF LOTS PRIOR TO THE AUCTION

There are two ways to physically examine lots prior to an auction

a. In person – either on premises or at a trade show at which Kupersmit Philatelic Auctions has a booth. Ample opportunity is provided for potential purchasers to examine lots at our booth at NOJEX 2015.

b. Postal Viewing –at the sole discretion of Kupersmit Philatelic Auctions, clients known to us may have lots sent to them by Federal Express for viewing. Lots must be returned the same day they are received and the viewer is to pay shipping and insurance both ways. Postal viewers not immediately returning lots will lose the privilege permanently.

In addition, potential purchasers who cannot view by the above may phone or e-mail Kupersmit Philatelic Auctions requesting an expanded description or additional scans; we will do our best to accommodate all requests, but accept no responsibility for errors or omissions in these expanded descriptions.

BIDDING

1. Unless announced otherwise on the auction floor, lots are sold as numbered in the printed catalogue. Kupersmit Philatelic Auctions, as agent for the consignor, shall regulate the bidding and determine the manner in which the bidding shall be conducted.

2. Kupersmit Philatelic Auctions reserves the right to a) withdraw any lot prior to sale without liability to any potential purchaser or agent, or b) to group two or more lots belonging to the same consignor.

3. The highest bid acknowledged by the auctioneer shall prevail.

4. Bids are in US Dollars and bidding increments are as follows:
Up to $300 by $10
$300-$700 by $25
$700-$1,400 by $50
$1,500 - $3,000 by $100
$3,000-$7,000 by $250
$7,000-$14,000 by $500
$15,000-$30,000 by $1,000
$30,000 and up Auctioneer’s discretion
These increments are a guide for bidding uniformity. The auctioneer retains the right to change the increments at his  discretion when bidding activity warrants or he may break the increments to accommodate an agent’s bid.

5. On all lots, a commission of 18% of the hammer price is payable by the buyer.

6. The auctioneer reserves the right to bid on behalf of absentee bidders but shall not be liable for errors and omissions in executing bids, regardless of the manner in which they were received, and whether such errors or omissions be those of the bidder or agent or those of the auctioneer.

7. The auctioneer may refuse any bid not believed to be made in good faith, or made with the provision that the lot be sent to an expert (committee) not acceptable to the auctioneer.

8. All lots are offered without reserves.
9. Agents are responsible for all purchases made on behalf of their clients, unless other arrangements have been confirmed in writing prior to the auction.

10. Should a dispute arise between bidders or between a bidder and the auctioneer either acting on behalf of a mail bidder or a consignor, the auctioneer at his sole discretion shall determine the successful bidder or whether to reoffer the lot in dispute. Should a dispute arise after the sale, the auctioneer’s sale records shall be conclusive.

RETURNS

11. Each lot is sold as genuine and correctly described. Any lot which a purchaser considers to be incorrectly described may be returned to the auctioneer within 15 business days of receipt for valid reason. A valid reason is a) a fault not described, or b) a blatant error in the lot description including catalogue value, or c) a lot receiving an accurate certificate of authenticity not
conforming to the lot’s description (See Condition of Sale 13).

12. The following lots cannot be returned for any reason: a) lots containing 20 or more items, b) lots that have been either  viewed in person or postally, c) lots that are being returned because of something that can be seen in the scans, d) lots described as having repairs, defects or faults Extension of Time

13. For all lots containing 5 items or less, the purchaser has the right to request that a lot be sent to a mutually agreed upon expert or expert committee for an opinion on the authenticity and condition of a lot.
a. The purchaser must notify the auctioneer within 21 calendar days from the date of the auction of his desire to place a purchased lot or lots on extension, and provide the name of the expert (committee), and (if this is the practice of the expert committee), whether or not the purchaser would like his name or Kupersmit Philatelic Auctions to appear on the certificate. The expert (committee) must be acceptable to Kupersmit Philatelic Auctions.
b. If the expert (committee) agrees with our description then the purchaser must also pay the associated fee and shipping charges both ways between expert (committee) and auctioneer and from the auctioneer to the purchaser.
c. The auctioneer is to submit the lot(s) to the expert (committee). No exceptions. Failure to comply will result in denial of the  extension request.
d. In the event an opinion cannot be reached (“no opinion”), the sale will be canceled and if the account has no outstanding balances, then all monies collected shall be returned to the purchaser without interest.
e. Any US stamp or postal history with a PF or PSE certificate issued within the last five years is not eligible for extension.

PAYMENT FOR PURCHASES

14. A successful absentee bidder (one who gives his bids to the auctioneer to be executed), shall be notified of lots purchased. Before Kupersmit Philatelic Auctions will send such lots, payment in full must be received within 15 business days of receipt of the notification. However, a purchaser known to the auctioneer, or who furnishes satisfactory references, may, at  the auctioneer’s sole discretion, have purchases delivered or forwarded for payment. Purchases will be shipped to the  address on the bid sheet and proof of the shipping by Kupersmit Philatelic Auctions shall consist of a receipt indicating safe  delivery to the shipper (USPS, Fed Ex, DHL).

15. Payment is to be made in US dollars. If funds are to be wired, please contact us for details.

16. All shipping charges and transit insurance are the responsibility of the purchaser.

17. Title shall not pass to the purchaser until Kupersmit Philatelic Auctions has received full payment.

18. Purchasers must pay for all lots placed on extension in accordance with Condition of Sale 13, even while the lot(s) are with  the expert or expert committee. A late payment of 2% per month shall be added if payment is not made in accordance with Condition of Sale 13 above, unless specifically waived by the auctioneer at his sole discretion.

19. Purchased lots not paid for after 60 days, or sold to a purchaser who refuses to respect these Terms of Sale (delinquent or non- compliant purchases), will be reoffered by the auctioneer in a future sale. If the lot(s) realize less than the originally  awarded amount to the defaulting purchaser, then the defaulting purchaser is responsible for the difference in net price  (hammer plus buyer’s commission – seller’s commission). If the lot(s) realize more than the awarded amount, the defaulting  purchaser will not receive any proceeds; the surplus will be donated to the American Philatelic Society.

20. A defaulting purchaser shall be deemed to have granted Kupersmit Philatelic Auctions a security interest in all lots  awarded but not paid for within 60 days that remain in the auctioneer’s possession. Kupersmit Philatelic Auctions shall have  all of the rights afforded a secured party under the New York Uniform Commercial Code with respect to such property and may  apply against such obligations all monies held or received by it for the account of or due from Kupersmit Philatelic Auctions to such purchaser.

21. If Kupersmit Philatelic Auctions takes any legal action to secure payment of a delinquent account, then the defaulting purchases shall be liable for all legal and other expenses incurred by Kupersmit Philatelic Auctions to secure such payment, including but not limited to a reasonable allowance for attorney’s fees. For purposes of this paragraph, the term legal steps shall be deemed to include any and all consultations by Kupersmit Philatelic Auctions with attorneys with respect to all matters arising out of a delinquent account.

22. Unless exempted by law, a purchaser shall pay New Jersey State sales tax or any additional sales or compensating use tax levied by his home state. If you are a resident of New Jersey and ask us to ship lots out of state and return the lots to New Jersey then you will pay all of our expenses if we are deemed liable for failure to pay the tax and assessed a penalty  associated with that failure, and all of our associated expenses.

JURISDICTION

Bidding shall constitute acceptance of these terms of sale. In the event a dispute cannot be resolved, all matters arising out of this auction shall be governed by the laws of the State of New Jersey without giving effect to the choice of law principles thereof. Any controversy or claim arising out of or relating to this auction shall be settled by arbitration in the State of New  Jersey in accordance with the Rules of the American Arbitration Association and judgment upon the award rendered by the  Arbitrator(s) may be entered in any Court having jurisdiction.

The purchaser at this auction a) consents and submits to the jurisdiction of the Courts of the State of New Jersey and of the Courts of the United States for a judicial district within the territorial limits of the State of New Jersey for all matters arising out of this auction sale, including, without limitation, any action or proceeding instituted for the enforcement of any right, remedy, obligation and liability arising under or by reason thereof; and b) consents and submits to the venue of such action or  proceeding in the State of New Jersey (or such judicial district of a Court of the United States as shall include the same).

CONDITION OF STAMPS

Never Hinged – unused with original gum in Post Office state and unmounted
Lightly Hinged—unused with full original gum showing some evidence of a previous hinge which may be present in part or entirely removed
Original gum – unused with original gum somewhat disturbed by previous hinging which may still be present
Part original gum – unused with original gum, large hinge remnants may or may not be present
Disturbed original gum – unused with original gum, affected by sweating, glazing or mount disturbance, may not resemble the original gum
Unused – not canceled and without gum
Extremely Fine – perfectly centered
Very Fine – very well centered
Fine-Very Fine – typical centering for the issue
Fine – design touches the perforations on one side

Faults such as a thin spot, tear, crease, etc. will be described on individual lots at all times. In larger lots, degrees of condition denote the average, and copies above and below such condition can be expected. Minor separations (four perfs per row) on blocks or sheets are the rule rather than the exception and are not grounds for the return of a lot. Major separations are described.

Items sealed inside Karaivanoff certificates could not be opened to check the condition.

CONDITION OF COVERS
Extremely Fine – outstanding, the envelope shows only the slightest amount of wear, the stamp and cancel appear fresh
Very Fine – choice condition, the envelope shows typical wear
Fine-Very Fine – normal condition, the envelope shows a bit heavier wear
Fine – wear beyond the norm but still a presentable example

Light edgewear, top backflap faults, slight reductions at one side, and a file fold are normal for covers. Also normal are light cleaning and small mends along the edges. They are to be expected and are not always described and are not grounds for return.

ESTIMATED VALUES
If an estimate of current market value is provided, then it is done so as range (200-300 for example means $200-$300). Our estimates tend to be conservative and bids that are a low percentage of these estimates are virtually never successful. If a number is published that is catalogue value and the lot may sell for either more or less depending on its condition. You may contact us for our estimate of market value for these lots in order to assist you with your bidding.

Catalogs used in listing
2015 Scott Volume 1 and 2014 Michel

Kupersmit Philatelic Auctions

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