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Terms of Sale

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AUCTIONEER

Premier Postal Auctions (PPA), a company incorporated in the State of Victoria, is the auctioneer, and adheres to the standard terms of sale of the Australasian Philatelic Traders Association.

DESCRIPTIONS

We endeavour to describe lots fully and accurately. The description of a lot comprises 1) the codes to the left of the description; 2) the description; and 3) any illustration of the lot or part of the lot. (The various codes and symbols are explained on How to Get the Most from our Catalogue.)

ESTIMATES

The figure in the right-hand column following each lot description is PPA's estimate of the market value of the lot in Australian dollars. A bidder - may bid at, above or below the estimate. Bids below the reserve price will not be accepted, except where the estimate is $5 or less in which case bids below the reserve may be accepted at the auctioneer's discretion.

PPA provides the facility to view estimates and starting prices in a number of currencies.

BIDDING

Bids may be made to PPA by mail, by fax, by e-mail or by phone and, of course, directly on this website. Bids received by phone must be confirmed in writing. PPA reserves the right to refuse any bid, or to refuse bids from any person, for any reason.

PPA provides the facility to place bids in a number of currencies. These bids will be converted to Australian dollars at various times according to changes in the exchange rate. Immediately prior to the auction they will be converted for a final time. The varying exchange rates over time will be why the estimates will vary from day to day when you have bid in a currency other than Australian dollars.

In most cases, PPA's bidding steps are as follows:

Under $2 20c rises $150 - 300 $10 rises $3000 - 5000 $200 rises
$2 - 15 50c rises $300 - 500 $20 rises $5000 - 20000 $250 rises
$15 - 30 $1 rises $500 - 750 $25 rises $20000 - 50000 $250 rises
$30 - 50 $2 rises $750 - 1500 $50 rises $500 rises
$50 - 150 $5 rises $1500 - 3000 $100 rises over $100,000 $1000 rises

However bids are not required to conform to standard bidding steps.

GOODS & SERVICES TAX (GST)

Australian law requires that GST equal to 10% of the knock-down or sale price of a taxed lot shall be payable by the buyer, unless the taxed lot is exported to another country. ALL our lots are subject to GST. To comply with the Australian law PPA must add GST to all relevant invoices.

BUYER

The buyer of a lot shall be the person to whom the lot is sold ("knocked-down") by PPA. In the event of equal bids being received, the earliest such bid shall be successful. In the event of a dispute, PPA shall have absolute discretion in the settling of the dispute.

A lot is at the buyer's risk once it has been sold ("knocked-down") but ownership (legal title) will not pass to the buyer until PPA has received payment in full for the lot.

PAYMENT

Payment is due immediately upon receipt of an invoice.

Whenever possible credit card payments will be made in the currency of the card (this only applies to Visa and Mastercard). A premium of 4% will be added to payments made with an American Express card and a premium of 2.5% will be charged for PayPal payments. No additional fees will be charged for any other form of payment in Australian dollars. If a non-credit card payment is made in another currency the buyer shall add the equivalent of $A20 towards bank fees, any resulting credit being placed to the buyer's account.

In the event that the buyer does not make payment in full for the lot(s) within 30 days from the date of the invoice, PPA shall have the right to exercise any one or more of the following rights and remedies:

1) To impose an accounting fee of $10 per month (or part thereof) plus compound interest at the rate of 2.5% per month (or part thereof) of the total amount outstanding;
2) To terminate the contract with the buyer, in which case any monies received from the buyer shall be forfeited to PPA;
3) To terminate the contract and resell the lot(s) at any time, in which case any resulting shortfall, plus costs including accounting fees, interest, insurance and resale expenses, shall be met by the original buyer;
4) To apply any monies due at any time from PPA to the buyer in payment of the outstanding amount;
5) To take legal action against the buyer for damages for breach of contract.

RETURN OF LOTS

A lot may be returned, within a reasonable time, only because of an error in the description: see clause 2 for the definition of "the description". A lot that has been inspected by the buyer or by the buyer's agent cannot be returned for any reason. A lot that is illustrated in the catalogue or of which an illustration has been supplied to the buyer or to the buyer's agent cannot be returned for any reason that is apparent from the illustration.

Collections, accumulations etc are always offered "as is" and cannot be returned for any reason. Similarly, other lots offered "as is" cannot be returned.

"EXTENSIONS"

A request for an extension to submit a lot to a recognised expert or expert committee for a Certificate of Authenticity must be made in writing prior to the day of the auction. PPA shall have an absolute discretion not to grant an extension. (In particular, an extension will not normally be granted if the lot is offered with a recent Certificate of Authenticity.) If an extension is granted, the buyer must make payment in full for the lot. The amount paid will be refunded in full if the lot is returned with an acceptable "bad" Certificate. All costs associated with obtaining a certificate shall be borne by the buyer, unless the lot is found to be not as identified in the catalogue in which case all costs associated with obtaining the Certificate shall be refunded to the buyer.

A lot described as being defective in any way may not be returned should the Certificate obtained mention any fault not noted in the lot description.

Unless otherwise agreed, nomination of the appropriate expert or expert committee shall be made by PPA, and PPA will be responsible for submitting the lot to that expert or expert committee. Should PPA agree to the buyer's nomination of an expert or expert committee, the extension granted will be for a period of no more than 90 days from the date of the auction. If a Certificate has not been obtained within 90 days from the date of the auction, the extension may lapse and PPA may thereafter refuse to accept the return of the lot.

GOVERNING LAW

These Terms of Sale shall be governed by and interpreted in accordance with the laws of the State of Victoria.

Submitting a bid by any method constitutes acknowledgment and acceptance of these Terms of Sale.
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