| Back to 'About the APS' |
1 THE AUCTION
1.1 The Auction shall operate on behalf of and in the interest of the APS and its Members only.
1.2 Normally, four sales shall be conducted per year.
2 THE HON. AUCTIONEER
2.1 The Hon Auctioneer is appointed under the Rules of the APS.
2.2 The Hon. Auctioneer shall be responsible for the production of the Auction list and for its despatch to the Editor or Printer.
2.3 The Hon. Auctioneer shall set up and maintain appropriate insurance to cover material in transit to and from his address and whilst stored for safe keeping at his address.
2.4 All lots received for sale shall be stored in the secure conditions stipulated by the insurers and clearly marked with the Vendor’s name and address.
3 AUCTION VENDORS AND MATERIAL
3.1 Material submitted by non-members may be accepted for sale at the discretion of the Hon. Auctioneer.
3.2 The Hon. Auctioneer shall be free to dispose of his own material through the Auction but shall treat his lots in exactly the same manner as those of other vendors and pay the same commission.
3.3 Any material shall be accepted for sale providing it is relevant to the Philately & Postal History of Austria & the Austro-Hungarian Empire, providing it is correctly described and providing it is, in the opinion of the Hon. Auctioneer, of collectable quality.
3.4 The vendor shall be responsible for describing lots and setting reserve prices. The Hon. Auctioneer shall refuse lots which are, in his opinion, mis-described. The Hon. Auctioneer shall also, at his discretion, accept material for disposal with a "sell" instruction on the basis that he shall use his best endeavours to maximise receipts but on the understanding that vendors will in this case be deemed to accept his lotting, descriptions and reserves.
3.5 If vendors so instruct, unsold lots may be retained and re-offered in the next but one auction at a reserve of 10% less (to the nearest bidding step) than when first offered. Material still unsold after a second attempt will be returned.
3.6 Vendors shall pay 10p per listed lot and 10% commission on all sales
3.7 Postage and packing shall be charged to vendors for the return of unsold material.
3.8 Payments to overseas vendors shall normally be by Eurocheque or the cheapest practicable means. Vendor will be responsible for any currency conversion and other bank charges
4 AUCTION BIDDING AND THE CONDUCT OF THE AUCTION
4.1 Only paid-up and Honorary members may bid
4.2 Bidding steps shall be 20p up to £5, 50p up to £10, £l up to £20, £2 up to £50 and £5 thereafter. 'Buy' bids are not accepted.
4.3 The winner of any lot shall be the highest bidder (or in the case of tie bids, the first received).
4.4 The winning bidder shall pay one bid increment more than the second highest bid.
4.5 No lot shall be sold at less than reserve, or in the case of a lot with a price clearly marked as "estimate", for less than 75% of that estimate.
4.6 Postage and packing shall be charged to purchasers for the despatch of their successful bids.
4.7 Lists of prices realised are included with lots sent to successful bidders, and are published with the following list. Bidding slips received by the Auctioneer shall be forwarded to the Treasurer at the end of each financial year but in every other respect shall remain confidential
4.8 Unsold lots will be available from the Hon. Auctioneer at the listed price for a period of 21 days after the despatch of prices realized.
4.9 Lots despatched overseas will be sent registered post at the purchasers expense (minimum £3) unless totalling less than £40 and sent to Western Europe, USA, Canada or Australia when a fixed insurance cost of 25p will be charged.
4.10 In the cases of transactions involving foreign currencies, the overseas purchaser shall be responsible for any currency conversion and other bank charges.
5 AUCTION ACCOUNTS AND REPORTING
5.1 The Auctioneer shall set up a Treasurer’s account with a suitable financial institution. The account shall be in the name of the APS Auction. All payments shall be credited to this account.
5.2 The Auctioneer shall be provided by the Treasurer with an appropriate float and shall account to the Treasurer for any expenses including insurance.
5.3 Any surplus accruing in the APS Auction account shall be transferred to the APS general account on an annual basis.
5.4 The Hon. Auctioneer shall not be entitled to any commission but may claim for directly incurred expenses only, which shall be agreed with the Hon. Treasurer.
5.5 The Hon. Auctioneer shall, within fourteen days of a request, provide the Committee with any information it requires regarding the operation of the Auction.
| Back to 'About the APS' |
©Andy Taylor. Last updated 20 Jan 2001