1. All bids are in Euro and according to the numerical order of the catalogue. Before the start of or during the sale, theauctioneer has the right to withdraw any lot; to incorporate two or more into one; to divide one lot in two or more parts.

2. Lots shall be sold to the highest bidder. In the event of two or more indentical bids, and provided, of course, there is no bidding from the floor, priority shall be given to the first bid received. In case where the highest bid from the floor (according to the steps described in paragraph 3 hereunder) is identical to the highest postal bid, then the lot will be allocated to the postal bid. In case of a dispute the auctioneer has theright to withdraw the lot and put it again for sale.

3. The scale of advance is as follow:
a) 1 - 20 euro+1 euro
b) 20 - 50 euro + 2 euro
c) 50 - 100 euro +5 euro
d) 100 – 200 euro + 10 euro
e) 200 - 500 euro + 20 euro
f) 500 - 1.000 euro + 50 euro
g) 1.000 - 2.000 euro + 100 euro
h) 2.000 - 5.000 euro + 200 euro
i) 5.000 - 10.000 euro + 500 euro
j) 10.000 - 20.000 euro +1.000 euro
k) 20.000 - 50.000 euro + 2.000 euro
l) 50.000 euro and over + 5.000 euro.

4. Stamps showing in photographs and where their defects and apparent cannot be returned for this particular reason.

5. Composite lots of more than 2 stamps cannot be returned for any defect or insufficient description. This does not apply in case of complete sets.

6. Any bidder can be excluded from the auction if he/she does no furnish evidence of good faith according to the judgement of the auctioneer. The full name and address of the buyer of each lot shall be given to the auctioneer prior to or immediately after the sale. Payment of the whole purchase price shall be made by the floor buyer immediately after the auction. In case of no payment the auctioneer reserves the right to reoffer the lot. The same applies in cases where the auctioneer believes that no satisfactory bid had been made.

7. Postal bids. A successful postal bidder will be notified on time of the lots purchased and must effect payment before lots are dispatched. Delivery by post or any other means, if requested by the buyer, will be at his/her own expense. Material is sent to domestic buyers on a cash on delivery basis unless there is a different agreement e.g. bank deposit, prepayment, etc.

8. Bidders who have not established credit facilities with us must provide satisfactory credit references or deposit 25% of their total bids prior to the auction. In case where a bidder fails to pay within a reasonable time after the auction, the auctioneer will have the right to reoffer the lots for sale. Any defference in the hammer price shall be made good by the party in default. The same applies for bidders, who did not pay on time after they had been informed of their purchases. For buyers abroad, immediate payment means that the payment should be effected within a reasonable period of time following notification of their purchases. For established clients upon receipt of their lots. Payment in foreign currency is accepted at the official rate of exchange or in euro, as mentioned in our invoice.

9. Title shall not pass to the buyer until full payment has been received by the auctioneer.

10. All lots are sold as genuine and are carefully described, expect when described as forgeries and sold as such for reference purposes. If a lot is not described in the catalogue, it can be returned. A lot cannot be returned if its photograph is in the auction catalogue any faults are apparent. In the event of a dispute as to the authenticity of a lot or a stamp, the buyer may submit it to a mutually agreed expert for assessment. If the item/s is/are found satisfactory the buyer pays in full, otherwise the subject item/s is/are returned. If paiment has been made in advance then it is returned. If additional time is needed, the auctioneer must be advised in writing. If no agreement can be reached between the parties concerned after the assessment of the or the stamp/s then the matter is referred to the jurisdiction of the appropriate court in Athens.

11. All lots offered for sale can be examined by the interested parties at least one week before the sale in our auction room at 9, P. Nirvana Street, Halandri, Athens. The subject parties can examine the lots with or without their experts or technical assistants. Stamps, lots and collections of general description which have already been examined again. During the time that the lots are available for examination buyers can give their opinion on the quality or genuiness of any lot or stamp/s in writing. In this case, the auctioneer should make it known to the bidders during the sale unless the lot is withdrawn. It is not permitted to a prospective purchases to express his/her opinion during the sale.

12. Telephone bids should be confirmed in writing.

13. Any party who take part in the auction either personally or through a presentative or by post is deemed to have accepted the foregoing conditions of sale without any reservations.

14. Material is dispatched at the address given by registered post at the risk of the purchaser and the signed receipt shall constitute proof of delivery. Postage and packing shall be paid by the purchaser. In casewhere the purschaser want the material insured, he must give the appropriate instructions.

15. This translation of the “Terms of Sale” is for information purposes only. In case of any dispute, etc. the Greek text is to apply.