Auction Date:2010 Apr 15 @ 11:00 (UTC-4 : AST/EDT)
Location:Crowne Plaza Hotel. 401 South Van Brunt St, Englewood, New Jersey, 07631, United States
Specimen Bond. Feb.1, 1972. $500,000 Series A, 6 7/8%, Due 1997, Registered Bond. Olive green. Post Office Logo in middle with eagle on top of "U.S.Mail". Pin-punch "Specimen". Uncirculated. Rare U.S. Government Federally related Bond for this well known institution. Federated BNC. Rare modern bond.
Auction Location:
Crowne Plaza Hotel. 401 South Van Brunt St, Englewood, New Jersey, 07631, United States
Previewing Details:
Monday through Wednesday, April 12th to 15th, 2010 – 9:00 AM to 7:00 PM
Thursday, April 15th, 2010 – 8:00 AM to 7:30 PM
Friday, April 16th, 2010 – 8:30 AM to 10:30 AM
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
18% |
Additional Fees:
Shipping Details:
No Info Available
Payment Details:
No Info Available
BIDDING
1. Unless announced otherwise by the auctioneer, all bids are per lot,
as numbered in the printed Catalogue. Archives International Auctions,
as agent for the consignor or vendor, shall regulate the bid
ding and shall determine the manner in which the bidding shall be
conducted. Archives International Auctions reserves the right to
withdraw any lot prior to sale (without liability to any potential purchaser
or agent), to re-offer any withdrawn lot, to divide a lot or to
group two or more lots belonging to the same consignor or vendor,
and to refuse any bid believed not made in good faith. Estimates of
sales prices contained in the printed Catalogue reflect the best
judgment of Archives International Auctions and are not minimum
or upset prices.
2. (a) Bids shall be made in the steps set forth in paragraph 12.
(b) The highest bid acknowledged by the auctioneer shall prevail.
Should a dispute arise between bidders (including a dispute be
tween a floor bidder and the auctioneer acting on behalf of a
mail bidder, consignor or vendor), the auctioneer alone shall determine
who the successful bidder is and whether to reoffer the
lot in dispute. Should a dispute arise after the sale, the auction
eer’s sale records shall be conclusive. On all lots sold, a commission
of 18% on the hammer price is payable by the buyer to
the auctioneer.
3. (a) The auctioneer reserves the right to bid on behalf of clients
(and consignors or vendors) but shall not be liable for errors
and omissions in executing instructions to bid, however received,
and whether such errors or omissions be those of the
bidder or agent or those of the auctioneer.
(b) Lots may be offered subject to a reserve price. The auctioneer
may implement such reserve price by bidding on behalf of the
consignor vendor.
(c) It may also be assumed that all consignors have been advanced
monies against the sale of their consigned material and
Archives International Auctions therefore has a security interest
in the consigned material over and above the normal auction
commission.
(d) Purchases made by a consignor or vendor or his agent on his
own lots shall be considered as a sale subject to commissions
and sales tax as applicable.
(e) Agents are responsible for the payment of the purchase price
for all purchases made on behalf of their clients, unless other
arrangements with the auctioneer have been confirmed in writing
prior to the auction.
PAYMENT FOR PURCHASES
4. Payment for lots, including those on which opinions are desired (Con
dition of Sale 8), shall be as follows:
(a) Floor Bidders. Payment of the purchase price, or such part
there of as Archives International Auctions shall require, shall
be made by the purchaser in cash or bank or certified check or
in such other manner as Archives International Auctions may
determine. The name and address of the purchaser of each lot
shall be given to the auctioneer immediately following the sale
of such lot.
(b) Mail Bidders. A successful mail bidder will be notified of lots
purchased. Before Archives International Auctions will send
such lots, payment in full must be received by Archives International
Auctions within three (3) business days of receipt of the
aforesaid notification by the mail bidder. However, a purchaser
known to Archives International Auctions at its option may have
purchases delivered or forwarded for immediate payment (by a
dollar draft on a U.S. bank in the case of overseas purchasers).
Mailed delivery will be to the address on the bid sheet and
proof by Archives International Auctions of receipt of a sending
at the advised address shall constitute delivery. All charges for
handling, delivery and insurance obtained by Archives International
Auctions on behalf of the purchaser shall be added to the
purchase price; a minimum charge of $10.00 will be made. Risk
of loss in transit shall be on the purchaser.
5. Title shall not pass to the purchaser until full payment has been received
by Archives International Auctions as agents for the consignor
or vendor.
6. (a) Purchasers agree to pay for lots as specified in Condition of
Sale 4 (or as the same may be modified by Condition of Sale 8),
and no credit is extended; a late payment charge of 2% per
month or fraction thereof shall be added if payment is not made
in accordance with the aforesaid conditions.
(b) In the event that a bidder shall fail to comply with these Conditions
of Sale (“Non-Complying Bidder”), then, as to any lot with
respect to which such failure to comply occurs, Archives International
Auctions may, in its sole discretion, re-offer such lot during
the same auction or at an auction at a later time, or by private
treaty at such time as Archives International Auctions, in its sole
discretion, deems appropriate and the Non-Complying Bidder
shall be liable for the deficiency, if any, between the hammer
price and the net proceeds of a sale to a subsequent purchaser,
whether at auction or by private treaty, as well as for all costs
and expenses of both sales, all other charges due thereunder,
including commissions with respect to both sales, whether
payable to Archives International Auctions or to a third party and
all incidental damages. It shall be in Archives International Auctions’
sole discretion to determine whether to re-offer the lot
theretofore hammered-down to a Non-Complying Bidder at the
same auction, or by private treaty in due course, or at a subsequent
auction conducted by Archives International Auctions. In
no event shall any surplus arising from the sale of a re-offered
lot be payable to a Non-Complying Bidder.
(c) A defaulting purchaser shall be deemed to have granted Archives
International Auctions a security interest in property in Archives
International Auctions possession owned by such purchaser.
Archives International Auctions shall have all of the rights afforded
a purchase money secured party under the New York or
New Jersey Uniform Commercial Code with respect to such property
and may apply against such obligations all monies held or
received by it for the account of, or due from Archives International
Auctions to such purchaser. Archives International Auctions
is authorized to file a Financing Statement in order to perfect
its rights as a secured party.
(d) If Archives International Auctions takes any legal steps to secure
payment of a delinquent account, the defaulting purchaser shall
be liable for all legal and other expenses incurred by Archives International
Auctions to secure such payment, including but not
limited to a reasonable allowance for attorneys’ fees. For purposes
of this paragraph, the term legal steps shall be deemed to
include any and all consultation by Archives International Auctions
with its attorneys with respect to all matters arising out of a
delinquent account.
(e) Unless otherwise acceptable to Archives International Auctions,
payment is to be made only in the form of cash, bank check or
certified check, credit card (Visa or MasterCard only) and a bank
wire transfer.
EXHIBITION AND INSPECTION OF LOTS; QUALITY AND AUTHENTICITY
7. (a) On Premises Inspection only. Ample opportunity is given for on
premises inspection prior to the auction date, and, upon written
request and at Archives International Auctions discretion.
(b) Each lot is sold as genuine and correctly described, based on
individual description as modified by any specific notations in this
Catalogue.
(c) Quality. Any lot which a purchaser considers to be incorrectly described
may be returned to Archives International Auctions within
two weeks of its receipt by such purchaser (“Returning Purchaser”),
provided, however, that the same is received by
Archives International Auctions within four weeks of the date of
the auction; however, Archives International Auctions may, in its
discretion, refuse acceptance of such returned lot. If an opinion
of a generally recognized authority is desired, the period of time
within which a lot must be received by Archives International Auctions
will be extended in accordance with Condition of Sale 8. In
the event that a dispute cannot be resolved by reference to a
generally recognized authority, and Archives International Auctions
thereupon undertakes to re-offer the lot with a description
identical to thedescription disputed, the Returning Purchaser
shall be liable for the deficiency, if any, between the proceeds of
the sale to the Returning Purchaser and the proceeds of a sale
to a subsequent purchaser, as well as for all costs and expenses
of the re-sale, including commission, and all incidental damages.
Any lot, the description of which is disputed, must be returned intact
in the condition received by the purchaser. The following lots
are not returnable except at the discretion of Archives International
Auctions: (i) lots from purchasers who attended the exhibition
of the lots; (ii) lots examined by postal viewers; (iii) lots on
account of their appearance, if they are illustrated in this Catalogue;
or (iv) lots described as having repairs, defects or faults
for any reason.
(d) Authenticity. Any lot which is declared otherwise than genuine by
a generally recognized authority is returnable, provided such lot
is received by Archives International Auctions within four weeks
of the date of the auction. Proof that a generally recognized authority
declines to express an opinion is normally grounds for the
return of a lot.
(e) Expenses incurred a purchaser in the submission and the return
of a lot under Conditions of Sale 7 are not subject to refund.
SALES TAX
8. Unless presentation of satisfactory proof that it is exempted by law,
a purchaser shall pay to Archives International Auctions New Jersey
or New York State and local sales taxes, or any compensating use
taxes of any other State claiming jurisdiction. A purchaser shall indemnify
Archives International Auctions and hold it harmless of and
from any claims of any jurisdiction for sales taxes relating to the purchase
of articles at the auction, whenever the same may arise.
APPLICABLE LAW, JURISDICTION, ETC.
9. All matters arising out of this auction shall be governed by the laws
of the State of New Jersey without giving effect to the choice of law
principles thereof.
ARBITRATION
10. Any controversy or claim arising out of or relating to this auction shall
be settled by arbitration in the City of New York, State of New York in
accordance with the Rules of the American Arbitration Association
and judgment upon the award rendered by the Arbitrator or Arbitratorsmay
be entered in any Court having jurisdiction.
JURISDICTION AND VENUE OF ACTIONS
11. The purchaser at this auction (a) consents and submits to the jurisdiction
of the Courts of the State of New Jersey or New York and of
the Courts of the United States for a judicial district within the territorial
limits of the State of New Jersey for all matters arising out of this
auction sale, including, without limitation, any action or proceeding
instituted for the enforcement of any right, remedy, obligation and liability
arising under or by reason thereof; and (b) consents and submits
to the venue of such action or proceeding in the City of Hackensack,
County of Bergen, State of New Jersey (or such judicial district
of a Court of the United States as shall include the same, and (c) further
consents that service of process in any action relating thereto
may be effected by registered mail, return receipt requested address
to the purchase at the address given to the auctioneer at the time of
the sale.
BIDDING STEPS
12. Bidding Steps shall be as follows:
BIDS BY TELEPHONE
(a) Must be confirmed in writing unless waived by the auctioneer.
(b) Any errors are the responsibility of the bidder.
(c) No bids accepted less than 1 hour before the commencement of
the sale.
BIDS BY FAX OR EMAIL
Bids must be received 1 hour before sale commences — be sure to
use(201) 871-4345 or
PHONE BIDDING DURING THE SALE
Phone bidding space is limited and available on a first come, first served
basis.
The importance of reserving early cannot be overstated!
Please call us at (201) 567-1130 to reserve your phone bidding space