Putting Auction Lots On Extension?

I would like to get a better understanding of how this works. I managed to win a couple of lots at a recent auction that went relatively cheap. There is no existing cert on them and I think I would like to have them certified before I move on. I have never used a certification service nor have I asked for certification extension. What do I need to know to do this? Do I receive the stamp and send it out for certification or does the auction house do that on my behalf? Anything else I should know?

So you have some context here is one of them - sold as US Scott #99 "with small faults":



Obviously I took a risk with the "small faults" comment and I know I won't get my money back if they find faults. But I got it quite cheap compared to the usual price for this stamp - so it's a risk I was willing to take. I just want to be sure it is a true #99.

You need to start with the terms and conditions for the auction where you won the lots. Different auction houses have different rules. Some require that you put the lot on extension at the time you bid while others allow a set number of days for extension requests. Typically (but not always) the auction house will send the lot directly to the expert body. The choice of what expert body to use may be spelled-out in the terms or you may be able to specify which expert you want. The auction house may not accept the opinions of some experts. The auction house may require you to pay for the lot-up front.

Definitely contact the house asap - by phone if possible at this point.

The auction houses do have to pay their consignors in a timely fashion, so just remember that there is a seller (not the house) on the other end of the transaction, who is waiting to get paid. Asking for an extension is absolutely fine and good, but needs to be done asap, in order for the auction house to keep things running smoothly, and paying their consignors in a reasonable amount of time.

Thanks both. I did read their terms & conditions before the auction as I knew this might be a possibility and I did already notify them of the extension. So hopefully this will go smoothly. If they both come back confirming the auction house descriptions I'll be a happy camper.

You'll probably have to pay for the lot in full, including the expertization fees. The auction house usually sends the lot directly to the expertising body (probably the PF for this stamp). If the lot come back as something other than described, you'll get your bid and cert fees refunded and not have to take a the lot.

If they come back as described in the auction catalog, you'll get the lot and you the certificate.

You should confirm this with the auction house asap, as they may not want to have the lot on extension after it is out of their possession for any period of time.

In this case, since Scott 99 has an F grill, that would be the most important part of any expertization - confirming a real grill, if I correctly read between the lines of your original post?

I'm guessing large tear at left and possible repaired/damaged corner lower right (plus the obvious perf issues). To me, a tear like that wouldn't be a small fault, but who knows if they'd see it that way.

FWIW, I wouldn't get a cert on this. Post a picture of the back when you get it, and you'll get a pretty good answer on whether the grill is genuine or not. Dumping another $80-$100 into a stamp like this doesn't make any sense at all (IMO).

And while Aldrich allows extensions, I'm not sure they pay cert costs. So now you have two questions to ask: "What constitutes "small faults"? and "Who pays the cost of bad certs?" Something tells me that if I'm right about the large tear at left, AND they agree that it's something other than a "small fault," you wouldn't exactly be happy with your $138 back but a $100 cert bill from PF that they expect YOU to cover...

Anyway, think through what you're doing here. IMO, there's no "win" in getting a cert on this stamp (especially if they don't cover cert costs 100%). In fact, the best case I see is a cert that states exactly what the description said. But that would increase your cost basis to a point where you won't get your money back reselling it. Is that really a desirable outcome?

Thanks. I will look at the stamp carefully before sending it. This is for me, not for resale. Filling a spot. If it really is a tear though I may reconsider. To be honest I just did a spur of the moment bid for this one. $120 for a 99 was too hard to resist. It's really the other stamp I'm more excited about. But I'll leave that for another time.

Can you show the grill?

I don't have the stamp yet.

If you've placed it on extension (you said you did), you probably won't see the stamp until after the cert is issued, as most auction houses submit extension lots themselves.

You should call and get answers to your questions before you have an extra $100 added on to your bill with no recourse. You need to know what constitutes a valid return ("small faults" is ambiguous/subjective) and who pays for the cert if it comes back mentioning a large fault, like a 2mm+ tear or a repair to a corner.

Just as a follow-up. I received the two stamps I planned to put on extension. They came to me. I finally got one of them to the PF today. The one pictured here I decided not to certify. I agree with some of the comments here, that for the condition, it wasn't worth it. For the moment it is filling a spot in my collection. The other one I'll consider posting when it comes back.