CONDITIONS OF SALE

1. All bids are per lot as numbered in the catalog. The right is reserved to withdraw any lot prior to sale, divide a lot, or to group two or more lots.

2. The highest bidder shall prevail. Should any dispute arise between bidders, the decision as to the successful bidder and the reoffering or resale of the lot under dispute shall rest solely on the judgement of the auctioneer. The auctioneer shall regulate the bidding and reserves the right to refuse any bid believed by him not to be made in good faith. Any bid which is not commensurate with the value of the item offered, or which is merely a nominal or fractional advance over the previous bid, may be rejected by the auctioneer, in his discretion, if in his judgement, such bid would be likely to affect the sale injuriously. A 15% BUYERS PREMIUM WILL BE ADDED TO THE SALES PRICE.

3. Unless the sale is advertised and announced as an unrestricted sale, or as a sale without reserve the consignor has preserved the right to bid personally through the auctioneer or any other agent.

4. Payment for all lots, including those on which opinions are desired under Condition of Sale 7, shall be made as follows:
      a. Floor bidders. The name and address of the buyer of each lot shall be given to the auctioneer immediately following the sale of such lot. Payment of the whole purchase price, or part thereof, shall be made by the floor bidder in such manner as the auctioneer may determine, but in all cases purchases must be paid for in full not later than the end of each auction.
     b. Mail bidders. A successful mail bidder will be notified of lots purchased and must remit before the lots are sent. Delivery to a successful mail bidder will be made to the address on the bid sheet at the expense of the purchaser. A person known to the auctioneer, or who furnishes satisfactory references, may at the auctioneer's option have purchases forwarded for IMMEDIATE PAYMENT. A minimum charge of $2.50 will be made for postage, insurance and handling. Proof, by the auctioneer of sending to the advised address shall constitute delivery.

5. Title shall not pass to the buyer until full payment has been received by the auctioneer. Credit cards will not be accepted.

6. Successful bidders agree to pay for lots as specified above and no credit is extended. A late payment charge of 2% per month and a $10 rebilling fee is imposed on overdue payments. This is 24% per year. All reasonable legal fees and/or collection charges incurred by James T. McCusker Inc., in respect of overdue accounts will be payable by the purchaser. In the event that successful bidders do not collect and pay off lots in accordance with article 4 above, the lots in question may be re-offered for sale and any loss arising from such sale, including standard auction commission will be charged to the defaulter.

7. Each lot is sold as genuine but when in the opinion of any competent authority mutually acceptable to James T. McCusker Inc. and the purchaser, the lot is declared otherwise, the purchase price will be refunded in full provided the lot is received by James T. McCusker Inc. within a period of four weeks from the date of the auction. Where an opinion is not expected within four weeks, receipt by James T. McCusker Inc. of written notification within this period that the lot has been submitted for an opinion is satisfactory. HOWEVER, NO LOT WILL BE ACCEPTED BACK UNDER ANY CIRCUMSTANCES AFTER FOUR MONTHS FROM THE AUCTION DATE.Expenses incurred shall be borne by the purchaser when a lot is pronounced genuine. In the event a lot is pronounced not genuine, or when a lot submitted to the expertizing agency is found to be genuine, but carries a "red warning overprint" or the like, James T. McCusker Inc. will pay the actual cost of the opinion up to maximum of $200.00. However, any lot described as "faulty, flaws" or the like may not be returned for any reason including an adverse opinion. Additionally, any lot with a hammer price of less than $151 may be submitted at the bidders expense. In the event the items was incorrectly described it may be returned for a full refund less the expertizing expenses. In the event the competent authority finds the lot "not as described", it is returnable for a full refund and the buyer will be paid interest at the rate of 1% per month. Proof of the inability of the mutually accepted authority to express a definite opinion is not grounds for the return of a lot. In the event that the purchaser and James T. McCusker Inc. cannot agree on an expertizing authority, the Philatelic Foundation shall become the expertizing body. Lots requested to be certified by the bidder will be submitted by James T. McCusker, Inc. only.

8. ANY LOT, DESCRIPTION OF WHICH IS INCORRECT, IS RETURNABLE (A) ONLY WITHIN FIVE DAYS OF RECEIPT, AND (B) ONLY IF RECEIVED BY JAMES T. MCCUSKER INC. WITHIN FOUR WEEKS FROM THE DATE OF THE AUCTION. ALL DISPUTED LOTS MUST BE RETURNED INTACT IN THE CONDITION RECEIVED. THE FOLLOWING LOTS ARE NOT RETURNABLE FOR ANY REASON WHATSOEVER: LOTS CONTAINING TEN OR MORE ITEMS; LOTS ACQUIRED BY PURCHASERS WHO HAD THE OPPORTUNITY TO EXAMINE THEM BEFORE THE AUCTION; LOTS DESCRIBED WITH FAULTS OR DEFECTS OR AS-IS.

9. IN NO EVENT WILL ANY CLAIM RELATING TO ANY ITEM SOLD HEREUNDER BE RECOGNIZED IF JAMES T.MCCUSKER INC. IS NOT INFORMED WITHIN FOUR WEEKS FROM THE DATE OF SALE AND IN NO EVENT SHALL JAMES T. McCUSKER INC. BE LIABLE FOR ANY AMOUNT GREATER THAN THE PURCHASE PRICE OF ANY LOT WHICH MAY GIVE RISE TO A CLAIM.

10. Agents are personally responsible for purchases made on behalf of their clients unless other arrangements are confirmed in writing prior to the auction.

11. Appropriate Massachusetts sales tax is payable by buyers residing in Massachusetts who do not have an exempt certificate on file with James T. McCusker Inc.. Sales tax is also payable on the 15% buyers premium.

12. Mail bids, and at the auctioneer's discretion, telephone bids will be executed without charge by James T. McCusker Inc.which undertakes to execute bids with due diligence. However, James T. McCusker Inc. assumes no liability for errors which may occur from time to time. The right is reserved to reject bids or bid sheets which, in James T. McCusker Inc.'s sole opinion, may not or may appear not to be commensurate with the market value of the item or items bid on.

13. The placing of a bid shall constitute acceptance of all the foregoing conditions of sale.

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