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1 Commissions & Fees: A commission of 7% on lots less than $100.00 and 5% on lots of $100.00 or more of realizations will be charged to vendors. Buyers will be charged a fee of 7% on lots less than $100.00 and 5% on lots of $100.00 or more. Vendors will be charged a fee of 50¢ plus return postage and insurance, etc. on each unsold lot.
2 Descriptions: Vendors will be responsible for the accuracy of descriptions. Neither the É.P.A. or the auction manager are liable in any way for faulty descriptions. Buyers, upon request, will be put in touch with vendors.
3 Participants: Only members in good standing of the É.P.A. may participate in the auctions. The auctions may also be used by the estates of deceased former members.
4 Reserves: A reserve is the lowest bid that will be accepted for a lot. It is strongly recommended that vendors establish a reserve for each lot. It is expected that all lots will have a minimum realization of $1.00.
5 All postage and insurance fees will be paid by the buyers. An estimate of postage will be added to the bill. Certified. registered or insured mail is mandatory for all shipments having a total value of $25.00 or more and may be requested for lots of lesser value by the recipient. Air mail will be used for overseas shipments unless surface is requested by the recipient.
6 Lots will be sold to the highest bidder at air advance over the second highest bid. If only one bid is received. the lot will be sold at the reserve. In the case of duplicate bids, the first received will prevail. The following are the bidding intervals. Bids of unusual amounts will be reduced to the next lower normal interval, e.g. $10.50 becomes $10.00.
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$0
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to $5.00
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25¢
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$5.00
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to $10.00
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50¢
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$10.00
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to $25.00
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$ 1.00
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$25.00
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to $50.00
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$ 2.50
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$50.00
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to $100.00
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$ 5.00
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$100.00
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to $200.00
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$10.00
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$200.00
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and over
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$25.00
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7 Successful bidders will be notified and lots sent to them as soon as payment is received. Payment is due on receipt of invoice.
8 All bids are confidential.
9 The auction manager reserves the right to reject lots that are improperly described or overvalued.
10 All bids shall be in U.S. dollars. All payments are to be in U.S. dollars with checks drawn on U.S. banks. U.S. currency may be sent by registered mail with the member assuming risk of loss.
11 Profits: All profits derived from commissions, fees, etc.. are to be turned over to the É.P.A. treasurer. The auction manager will maintain a bank account on behalf of the É.P.A. Auction as approved by the Treasurer of the É.P.A. with the Treasurer having access to funds in that account. The auction manager will render reports to the Treasurer and to the Board of Directors as directed.
12 Only philatelic material relating to Ireland will be included in É.P.A. postal auctions. Small quantifies of non-Irish material may be sold on behalf of estates. No more than two (2) identical lots will he accepted from an individual for a particular auction. The auction manager may limit the amount of material from a vendor in any sale.
13 The É.P.A. and, or the auction manager will not be responsible for any loss or damage to any lot or portion thereof. The auction manager will take every reasonable care of lots entrusted to him. The É.P.A. has limited insurance protection for the auction that requires the use of certified mail for domestic shipments and registered mail for shipment beyond the U.S. Lots with a value of less than $25.00 are not covered in transit unless specifically requested with certified/registered fees to be paid by recipient. If a vendor or buyer wishes additional protection, it is suggested that they arrange their own insurance.
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