Conditions of Sale

1) We exercise the greatest possible care to ensure that all statements contained in lot descriptions are reliable and accurate and that each item, unless indicated otherwise, is genuine and authentic. The statements, however, are not intended to be, are not and are not to be taken as statements or representations of fact. They are statements of our opinion and attention is drawn to clause 5 below. The estimates given reflect our opinion of the current market value.

2) a) To ensure that the purchaser buys as cheaply as possible, the highest bid is reduced to one advance over the second highest. Limits are not used as starters unless other bids or reserves make it necessary.

b) Starting price will not be less than 80% of our estimate (or reserve if higher).

c) Bidding and advances will be regulated at our discretion and will normally be as follows:

We reserve the right to refuse any bid. "Buy" bids (or other similar expressions) are not acceptable.

d) The highest bidder for each lot shall be the purchaser thereof. In the event of any dispute, our decision is final. If identical bids are received for the same lot, the one posted earliest will be accepted.

3) a) Successful Bidders will be notified of lots purchased immediately after the sale and payment must be made within 10 days from the date of the invoice. Payment may be made by cheque, bankers draft, postal or money ordermade payable to Black Swan Postal Sales and crossed "A/C Payee Only" as necessary.

b) No goods will be sent until payment is made in full except to bidders who have sent signed blank cheques, or who have deposited reserves in advance, or established customers.

c) Purchasers who pay in foreign currency must ensure that sufficient funds are sent to cover their invoices allowing for any charges or commisions deducted by the bank. Surplus amounts will be credited to customer accounts for use against future purchases.

d) Each lot shall be at the purchasers risk from the time we post it to the purchaser who shall be responsible for all charges incurred.

4) We Reserve the right to bid on behalf of clients, but shall not be liable for errors or omissions in the execution of instructions to bid.

5) a) The utmost care is taken to describe all lots fully and accurately and, unless otherwise indicated, each lot is sold as genuine and as described. Lots not correctly described are returnable within seven (7) days.

b) Unless otherwise indicated, catalogue values are from current Stanley Gibbons publications.

c) The onus of proving a lot to be wrongly described lies with the purchaser and the proof of the inability of an expert committee to express a definite opinion will not discharge such onus.

d) No lot may be rejected if, subsequent to the Sale, it has been immersed in water or treated by other process unless our permission has first been obtained in writing.

e) Lots stated to contain collections and/or accumulations and/or undescribed stamps must be accepted by the purchaser with all faults, lack of genuineness and errors of description and/or numbers. Similarly, stamps described as "as is" or having defects, heavy cancellations, etc. are not returnable on account of their condition, nor are unmounted mint stamps.

f) In the event of an error, our liability is restricted to the purchase price of the lot in question plus postage incurred on returning the lot. All lots returned are at the sender's risk until received by us.

6) If the purchaser fails to comply with the Terms and Conditions of Sale, the sale shall be null and void and we shall have the right to offer the lot to the second highest bidder or to re-enter it in a future sale and to recover any loss or expenses incurred from the purchaser who defaulted. Lots remain the property of the vendor until paid for in full.

7) No added VAT on any lots - all buyers.

8) The placing of a bid signifies acceptance of the foregoing Terms and Conditions. All bid sheets must be signed by the bidder.

9) These conditions and any sale organised by us shall be governed by English Law and any actual or prospective purchasers hereby submit to jurisdiction of the English Courts in connection therewith.