66. UPA Auktion
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Universal Philatelic Auctions
TERMS AND CONDITIONSTHE UPA REDUCING ESTIMATE SYSTEM
Each auction is a compilation of both high and lower value material, with some of the high value material owned by vendors and some by UPA. My belief is that if an item is not selling, it is too expensive. This formula permits us to offer the Unique UPA Reducing Estimate System so that if an item does not sell, it will be reoffered in the next catalogue with the estimate reduced by 11%, and the item will be flagged to show that it has been previously unsold. Each time that item does not sell, it will be reoffered and the estimate will reduce by 11%, then 12%, 13%, 14% etc... accordingly. This allows items to find their own market value.
A lot is offered for the first time with an estimate of £100, but it does not sell.
The lot is reoffered in the next auction with an estimate of £89, but it does not sell.
The lot is reoffered in the next auction with an estimate of £78, but it does not sell.
The lot is reoffered in the next auction with an estimate of £67, etc...
(Estimate reductions are ‘ramped’ as above as each time a lot is unsold).
Bids below 80% of estimate have no chance of success. After the auction has closed, on the Friday evening we publish the UNSOLDS list of all lots that may be purchased (on a 1 st come 1 st served basis) at a standard 80% of estimate.
Lots that are previously unsold are denoted US (in bold text) at the end of the description, e.g...
US - previously unsold
US2 - previously unsold twice
US3 - previous unsold three times
Once a lot has been unsold five times or more and if the estimate has fallen to £12 or less, that lots drop in the BABS category (see below).
BABS : Bag A Bargain System
BABS lots are those items which have been unsold 5 times or more (marked US5, US6 etc...) and have estimates of £12 or less; such items are denoted by (B) at the end of the description. These lots start at 99p and you can bid any amount you wish, at or above this level. Standard bid steps (see below) apply to BABS lots so if you do not wish bid steps (tie-breaks) to apply to BABS lots, please indicate clearly on your bid form.
- Estimates are based upon condition and current market value.
- All estimates and catalogue prices are in £ GBP and all catalogue prices are S.G. unless otherwise stated. We will state where another catalogue is used and if a foreign currency, we will show the value in Pounds Sterling equivalent.
- All non BABS lots: bids below 80% estimate will be respectfully declined. Bidders wishing to purchase such lots for less may have the opportunity to do so in subsequent auction(s).
- Lots cannot be viewed in person, but we are happy to provide scans, photocopies and verbal condition reports of lots as required.
- There is no charge for this service but please note that we cannot scan/photocopy hundreds of items.
- We cannot guarantee to provide scans/photocopies for requests made within 2 working days of the closing date.
There isn't one! The only additional charge we apply is for shipping of heavy lots. If you are a new client or regular bidder you will enter our loyalty POST-FREE system whereby regular bidders for standard-sized lots, participating in 5 out of 6 auctions receive free shipping and insurance.
HOW TO BID
You can submit bids in one of the following ways...
- Post/mail the bid form at the back of the catalogue to: UPA (Admin), 4 The Old Coalyard, West End, Northleach, Glos, GL54 3HE, UK
- Online bid form on our website: www.upastampauctions.co.uk
- Email directly to email@example.com
- Telephone : +44(0)1451 861111 (our office is open weekdays only 9am to 1pm and 2pm to 5:30pm UK time)
- Fax : +44(0)1451 861297 (please ensure you fax the correct side of your form!)
We do not accept BUY bids as this is unfair to other bidders. If you are prepared to pay a multiple of the estimate price for a particularly rare item please enter your maximum price, but beware that another bidder may also recognise special value in the same item and bid accordingly. We therefore recommend that you only enter the maximum you are prepared to pay.
You can bid any amount you choose, subject to the minimum amounts (for both BABS and non-BABS lots) as stipulated above.
If you are bidding to a budget, you can specify an overall spending limit when you bid. e.g... you can bid on items which, if you were to win them all, may cost £500, but if you specify a spending limit of £300, once your spending limit has been reached you will not win any more items. NB - £60 is the minimum spending limit we can accept.
We are happy to accept conditional (either/or) bids. Simply list the items in your order of preference and mark them clearly as per the examples below...
lot 1234 @ £35 } EITHER
lot 1235 @ £32 } - one lot lot 1234 @ £35
lot 1236 @ £37 } lot 1235 @ £32
lot 1236 @ £37
BID STEPS / TIE-BREAKS
A maximum of 3 bid steps can be applied to all or some of your bids in the event of a tie. Bid steps are applied as follows...
- Bids up to £39 - bid steps are in £1 increments
- Bids between £40 and £79 - bid steps are in £2 increments
- Bids between £80 and £299 - bid steps are in £5 increments
- Bids £300 and above - bid steps are in £10 increments
Standard sized auction lots will be shipped Loyalty POST-FREE if you are a NEW / regular bidder (5 out of 6 auctions), otherwise...
UK CLIENTS: (shipping costs regardless of weight):
- Invoices up to £50 : Post+Packing = £2
- Invoices between £50 - £100 : Post+Packing = £3
- Invoices between £100 - £250 : Post+Packing = £4
- Invoices over £250 : Post+Packing = £7.50
- Invoices up to £50 : Post+Packing = £2.50
- Invoices between £50 - £100 : Post+Packing = £3.50
- Invoices between £100 - £250 : Post+Packing = £6.50
- Invoices over £250 : Post+Packing = £11.50
Lots described as HEAVY LOT (or similar) may be subject to additional shipping charges.
- Requests for extension time to obtain a certificate must be made in writing not less than 48 hours before the auction closing time.
- The name of the proposed expert or expert committee must be provided for our approval
- The reason for requesting an extension must be stated
- Requests for extensions are on the basis of authenticity, not condition unless specifically approved by UPA
- Extensions for single items/sets only value in excess of £100
- Requests for extensions for items already bearing a certificate will not be accepted unless specifically approved by UPA
- UPA will submit the item(s) for expertisation unless specifically agreed otherwise
- Items will not be submitted until payment has been received, unless specifically approved by UPA
- The purchaser pays for the certificate. If the item is not authenticated, UPA will pay for the certificate
- Any item described as having faults may not be returned if other faults are mentioned on the certificate of authenticity
- Lots are despatched after payment in full.
- Payment is due within 30 days of receipt of our invoice.
- We accept payment by the following methods (no surcharges apply):
Debit / Credit card – if you wish UPA to receive maximum benefit from your payment UK cheques, card payments are the most cost-effective. We do accept Paypal but it is the most expensive for us to subsidise.
- Mastercard *
* We particularly recommend this payment method to our overseas clients as it is cheaper and quicker than obtaining bank drafts and the bank automatically converts your invoiced amount charged into your own currency. NB - we do not accept American Express or Diners Club.
- Cheques (payable to UPA) drawn on a UK Sterling account (allow 7 days to clear)
- Cheques (payable to UPA) drawn on a $ USD account from mainland banks only. (Please allow 28 days for cheques to clear)
Bank transfer (net of bank charges) to account...
Bank : Santander UK plc
Account Name : N W P J Ltd T/A Omniphil
BIC : ABBYGB2LXXX
IBAN : GB84 ABBY 0901 5004 8968 15
Sort Code : 090150
Account Number : 04896815
- PayPal - to account firstname.lastname@example.org quoting your invoice number as your reference. Payment should be made in GBP British Pounds.
STAGGERED PAYMENT SERVICE
- Payment over two, three or four monthly instalments is available to clients with invoices in excess of £60. There is no extra charge for this service but lots are only despatched upon completion of payment or subject to status (i.e. long established UPA client). Such requests should me made when placing bids.
DESPATCH / SHIPPING
Bidders who provide payment details before the closing date are processed during the first despatch phase (in bidder number order). Clients who request a pro-forma invoice and send payment in response to their invoice are processed in the second despatch phase, in the order that payment was received. We usually get 2,000+ bidders and the first despatch phase takes approximately a week.
A list of prices realised is published on our website immediately after invoices have been issued and a printed list of realisation is included with the next catalogue.
Those Unsold Lots which are available at 80% of estimate may be purchased from the Monday morning following the sale close. They will be available for a limited period on a first come first served basis.
- All lots are guaranteed such that any lot may be returned for a full refund. No Quibble. 1st class mail (or standard air mail) is ok for most things but we recommend that you get a proof of posting from the post office in case the item were to go missing. If you are returning goods in excess of £250 we request that you return them by Special Delivery (or Registered Airmail). Goods in excess of £250 returned by 1st class mail (or standard air mail) will be deemed to have been returned at your own risk.
- Lots must be returned in the condition they were received (in their entirety in their original stockcards or packaging) within 30 days of purchase. Returned lots may not be accepted by UPA if they have been tampered with, e.g. immersed in water, marked by an expert or expert committee, or treated by any other process, unless UPA's express permission has first been obtained in writing.
- We request that you state the reason for returning any item. This does not affect our guarantee, but it does help us in processing the returned items. We are happy to either refund you for anything returned to us, or if you prefer we can hold the amount as a credit-note which you can use towards your next auction invoice. Please specify.
- Printed catalogues are FREE to regular successful bidders. They will build into an important source of accurate price data.
- New clients will receive four printed catalogue free of charge, but if you have not bid successfully thereafter we would ask you to either view the catalogue online or subscribe to receive future catalogues.
- Subscriptions: £25 is the minimum subscription covering supply of the next 3 catalogues wherever you live, despatched airmail if overseas.
- Our catalogue policy is to reward our valued regular clients with an important real price reference guide.
- Please remember that UPA is an auction, not an Approvals Service. The auctioneer reserves the right to refuse bids from clients regularly treating UPA as an Approvals Service. The auctioneer’s decision is final. Placing a bid is acceptance of these terms. This does not affect your NO QUIBBLE full refund guarantee.
66. UPA Auktion
Auktionstermin: 11. Juli 2017