Terms of Sale

1. Lots will be sold to the highest bidder at a slight advance over the second highest bid. Should there be a dispute between bidders, the decision as to the successful bidder or the re-offering or resale of the lot under dispute shall rest entirely on the discretion of the auctioneer. The auctioneer shall regulate the bidding and reserves the right to refuse any bid believed by him not be made in good faith - no "buy" bids will be accepted. Bid as high as you are willing to pay; the lot will be purchased for you as much below your limit as bidding allows. Mathew Bennett, LLC. has absolute discretion to deviate from the lotting order, to group two or more lots, or to withdraw any lot from the auction.

2. A buyer's commission of 15% of total purchases will be added to all invoices.

3. A small "+" after a lot number indicates either that the owner has placed a reserve bid, below which the lot will not be sold, or that Matthew Bennett, LLC. has a financial interest in the lot. The absence of the "+" means that the lot is offered without a reserve. In the absence of a reserve, the auctioneer has sole discretion to open the bidding at 65% of the low pre-sale estimate of the lot. A lot that does not reach its opening bid or reserve will be declared a "pass" and thus be excluded from the published prices realized.

4. Terms of sale are cash upon receipt of invoice. Buyers who wish to pay by wire transfer may do so after notifying Matthew Bennett of their intentions. Funds can be wired to:

Matthew Bennett International
Brookline Bank
131 Clarendon Street
Boston, MA 02116
Routing Number: 211371489
Account Number: 1221058975
SWIFT Code: brkLUS3A

5. Purchasers who have established adequate credit may, at the auctioneer's discretion, have lots shipped along with the invoice. Payment is due upon receipt of invoice. Any amount still outstanding after 30 days will have a service charge of 18% per annum added to the invoice.

6. All lots sold can be expected to be genuine and as described. In the event of a discrepancy, the lot may be returned intact within seven (7) days of receipt of shipment. The following lots may not be returned:

a. Lots containing ten or more stamps.

b. Lots which were photographed may not be returned for centering, perforation faults or other details visible from the photo.

c. Lots described as faulty.

d. Lots inspected in person, either at our offices or through postal viewing.

e. Lots described "as is."

7. If expertization is requested, the following provisions apply:

a. The buyer will pay for the item to be expertized upon receipt of invoice.

b. Requests for expertization of stamps with certificates dated within the last five years will not be granted other than at an auctioneer's discretion.

c. Mail bidders must notify the auctioneer in writing of requests for expertization when the bids are placed. Floor bidders will notify the auctioneer of extension requests at the conclusion of sale. All extension notifications must be received within twenty-one (21) days of the last day of the sale.

d. At the time of submission, buyer will provide formal confirmation of such request and a photocopy of the application for expertization.

e. All items will be submitted to a mutually agreeable committee or authority.

f. An expert committee's failure to render an opinion is not grounds for return of a stamp.

g. No stamp may be returned due to the grade awarded by the expertizing body.

h. In the unlikely event of a negative opinion, Matthew Bennett, LLC., will refund the cost of the lot plus expertization fees up to a maximum of $600.

i. No items may be returned if they are altered in any way, e.g., an indelible backstamp. .

j. Lots that have been submitted for expertization will be considered cleared after 120 days after close of sale unless written notification has been received by Matthew Bennett, LLC. that expertizing body has not rendered an opinion.

8. The buyer assumes all risk for the delivery of lots purchased in the auction. The cost of postage and insurance will be paid by the buyer. Proof by the auctioneer of receipt of sending shall constitute delivery.

9. Title shall not pass to the buyer until full payment is received by Matthew Bennett, LLC.. If the auctioneer, at his discretion, shall institute any legal action to secure payment of a delinquent account, the defaulting purchaser shall pay all legal expenses incurred by the auctioneer and such charges will be added to the amount owed.

10. Applicable state and local taxes will be added to the invoice for all lots delivered in the State of New York, the State of Massachusetts, or any other State in which an auction is held, unless a resale number is on file or submitted.

11. In the event of a dispute between the auctioneer and a bidder or between persons offering their lots to be auctioned and the auctioneer, the jurisdiction over the dispute shall be Boston, Massachusetts.

12. All agents and their representatives 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.

13. The placing of a bid constitutes acceptance of the above terms.

Harvey Bennett, Principal Auctioneer
Auctioneer's License No. 0924050
New York City Dept. of Consumer Affairs License