BRIEF INFORMATION

Sales
These are held twice a year in May and November at The Guild Hall, Salisbury, Wilts, U,K, and lots are available to view in our Salisbury or our London office.

Condition of Business
Bidders and Sellers at the Auction agree to be bound by the Standard Terms and Conditions of Business. These are outlined under the heading 'Terms and conditions of sale'.

Buyers
-Buyer's Premium is 15% plus VAT where applicable
-Credit card surcharge is 1.95%

Sellers
- Seller commission rate will be 11.75% (equal to 10% commission plus 17.5% VAT ) on the hammer price, which will be the final bid price.

Sellers consignments
Seller's consignments with a value of £500+ are accepted with a minimum value of £50 for individual lots. Commission for sellers is a flat 10% plus VAT where applicable with no additional charges. Lowe value lots are only accepted as part of a major consignment.

Bidding
Bidding increments are normally in 10% steps. There is an absentee bid form inside the Catalogue. You may fax or phone your bids to us, but bids are accepted at the bidder's risk. NB: Faxed bids must be received by close of business on the day prior to the sale. Telephone bids on the day of the sale must be received by 11 a.m.

Reserves
Please note that all estimates are the same as reserve prices. Some lots are reserved at 80% of estimate.

VAT
Lots marked with a dagger are subject to VAT at the standard rate on both the purchase price and the buyer's premium.

Buyers Premium
The buyer will be charged 15% on the hammer price plus VAT applicable.

Purchase Invoice
It will show the hammer price plus Buyer's premium at 17.63% and the total. Buyer will advise LSE of his name, address, bankers' details and VAT registration number (if applicable) for invoicing purposes.

Payment
Payment should be made within 7 calendar days of the Sale. Payment can be made via direct debit to our bank account: London Stamp Exchange Ltd., Lloyds TSB, 21-25 King Street, London W6 9HW. Account No: 02714881, Sort Code: 30 93 79. Please include your name and invoice number with instructions to your bank. We also accept sterling cash, sterling travellers cheques, and sterling bankers drafts (drawn at a UK bank). Cheques are accepted only with a guarantee from your bank, or lots will not be released until the cheque has cleared. We accept Mastercard, Visa, Eurocard, Delta and Switch. Mastercard and Visa are subject to a 1.95% administration charge.

Collection of lots
Collection must be made within 7 days of the sale. All lots will be available for collection from our Salisbury office (or from our London office by prior arrangement). If collecting on day of the sale, the lots will be available at Auction venue but please allow an hour between bidding on your last lot and collection.

Shipping of lots
We will happily send goods to clients by post upon receipt of payment. The appropriate cost for packaging and postage will be added to your your invoice.

Photocopy Service
We are pleased to provide single photocopies wherever possible and will send these by fax or mail free of charge, However larger numbers will be charged at 50p per copy prepayment is required. (UK postage stamps, cheques drawn on a UK bank, sterling and foreign currency notes are acceptable as payment).

Extensions
Buyers who wish to obtain expert opinion on any lot (other than a mixed lot or lot containing undescribed stamps) are requested to notify us in writing not less than forty-eight hours before the sale. Notice of a request for an expert opinion must give the reason why such is required and specify the identity of the expert which will be subject to our agreement. Buyers are reminded that any lot(s) purchased 'on extension' are subject to full payment in accordance with our normal Terms & Conditions of Business. Settlement of any lots on extension should be made at the time of invoice payment. Overdue accounts are subject to interest charges. Extensions requested on account of condition will not normally be accepted for expert opinions. Any lot described as having faults or defects may not be returned should a certificate cite other faults or defects not included in the catalogue description. Should we accept a request for an extension under the foregoing provisions of this paragraph, the fact may be stated by the Auctioneer from the rostrum prior to the sale of the lot. It should be noted that any stamp accompanied by a Certificate of Authenticity is sold on the basis of that Certificate only and not on the basis of any other. No request for an extension will be accepted on such a stamp and the return of such a stamp will not be accepted.

38 Greyhound Road, London W6 8NX, England
Tel: +44 (0) 2076101387 Fax: +44 (0) 20 7610 0078
E-mail: info@londonstampex.com