2. The property in this auction is offered for sale by CNG for itself and as agent for other consignors. We reserve the right to prohibit any bidder from participating in the auction, to reject any bid, to determine the opening price, to set bidding increments, to withdraw any lot, to bid on behalf of CNG, and to permit the consignor to bid on his own lots.
3. A 15% Buyer's fee will be added to the hammer price.
4. All items are guaranteed genuine. Attribution, date, condition and other descriptions are the opinion of the cataloguer, and no warranty is expressed or implied. Please note that an auction sale is not an approval sale. Lots may be returned only in the case of misdescription or lack of authenticity. Lots examined by the successful bidder prior to the close of the sale may be returned only in the case of lack of authenticity. Any claim of misdescription must be made within 5 days of receipt of material. Any claim of lack of authenticity must be made in writing by the original purchaser immediately after discovery that an item is not authentic, and upon making such a claim the original purchaser must return the lot to CNG in the same condition as at the time of the auction. Coins that have been encapsulated ("slabbed") by a grading and/or authentication service may not be returned for any reason, including authenticity, if they have been removed from the encapsulation ("slab"). If payment is made by credit card, rights of return are governed by these Auction Terms which supercede any rights of return promulgated by the card issuer.
5. Invoices are due and payable immediately upon receipt. Interest and late fees of 2.0% per month, or at a highest rate permitted by law, whichever is less, from the date of the auction, shall be payable on invoices not settled within 30 days of the auction date. Payment may be made by check or bank wire. Credit cards (Visa or MasterCard) will be accepted; credit card payments will not be accepted more than 14 days after the sale date. Payment by check must be made in either US dollars ($) drawn on a US bank or British sterling (£) drawn on a British bank. All successful bidders outside North America and the United Kingdom will be charged an additional $20 fee for bank charges that are the result of international wire transfer fees; this fee will be deducted for credit card or check payment as described above. CNG may reduce or compromise any charge or fee at its discretion.
United States address and phone number: CNG, Inc., P.O. Box 479, Lancaster, PA, 17608, phone 717-390-9194, fax 717-390-9978. United Kingdom address and phone number: CNG, Inc., 20 Bloomsbury Street, London WC1B 3QA, phone +44 (20) 7495-1888, fax +44 (20) 7499-5916. Office hours are 10AM to 5PM Monday through Friday. US$ bank account for wire transfers will be provided by phone, fax or mail. An additional $20 fee will be payable for wire transfers received by CNG from banks outside the United States. Late fees of 2% or $25, whichever is greater, shall be payable on invoices not settled within 14 days. In addition, interest of 2% per month, or at the highest rate permitted by law, whichever is less, shall be payable on invoices not settled within 30 days.
6. Bidding is only open to those who have registered on the Site for the electronic auction, and have been authorized to bid by CNG staff. Bidding is permitted only to parties who can lawfully form contracts and lawfully participate in the auction under applicable laws. Title does not pass until lots are paid in full. Upon receipt of lots, the buyer assumes full responsibility for loss or damage. Delivery to the buyer's address of record constitutes receipt by the buyer regardless of the identity of the person accepting delivery.
7. Estimates and bids are in US dollars ($US), and bids must be in even dollar ($) amounts. CNG places an estimate and an opening price on each lot. Estimates are intended as a guide only and not as a statement of opinion of value. Ordinarily the opening price is 60% of the estimate. CNG's electronic auction site software will execute bids on behalf of all bidders up to their maximum limit. Subject to the opening prices, bids will be executed at one bidding increment over the next highest bid. In the case of identical bids, the earliest bid wins. Once a bid is placed it may only be cancelled by CNG staff. Bidders are responsible for errors in bidding.