Stamp Auctions: Read The Fine Print

Janet Klug in one of her Refresher Course articles that appeared in Linn's Stamp News says bidding in auctions is a fun way to add new material to your collection. Whether it's bidding on eBay or at one of the stamp auctions held thoughout the year at major stamp shows, Janet cautions collectors to be careful.

"If you do not know anything about auction bidding, here is the first and best piece of advice I can give you: Read the terms of sale," Klug suggests.

She goes on to pen, "The auction terms of sale contain all the pertinent information you will need to know about the date the auction closes, acceptable methods of payment, how much time you will be allowed to settle your account, the buyer's fee, the return policy, the extension policy, the raises over next highest bids, the amount of taxes, costs you will incur for postage and insurance, and other terms that might be unique to the particular auction firm."

"Do not assume that all auction firms have the same terms of sale. They do not," Klug reminds us.

To read her entire article, click here.