LATEST UPDATE: 26 March 2003



AAMC: 1. American Air Mail Catalog (USA) [abbr.] 2. Australian Air Mail Catalog (Australia) [abbr.]

ABCF: Associação Brasileira dos Comerciantes Filatélicos
(Brazilian Stamp Dealers Association) [Brazil] [abbr.]

ACOFIL: Associaçâo de Comerciantes Filatelicos de Portugal (Portuguese Stamp Dealers Association) [Portugal] [abbr.].

Absentee Bidder: 1. A bidder participating in a public auction, but personally not present at the auction. 2. Book Bidder. 3. Order Bidder. 4. Bidder represented by an Auction Agent.

AIEP: Association Internationale des Experts en Philatélie (International Association of Philatelic Experts) (Internationaler Verband der Philatelistischen Prüfer [Germany]) [abbr.]

AIJP: Association Internationale des Journalistes Philatéliques *
(International Association of Philatelic Journalists) [abbr.].

ANFIL: Asociacion Nacional de Empresarios de Filatelia y Numismatica de España (Spanish Philatelic and Numismatic Dealers' Association) [Spain] [abbr.].

APEX: American Philatelic Expertizing Service (State College, PA, U.S.A.) [abbr.].

APHV: Allgemeiner Postwertzeichen-Händler-Verband e.V. (German Stamp Dealers Association) [Germany] [abbr.].

APPI: Asosiasi Pedagang Prangko Indonesia (Indonesian Stamp
Dealers Association) [Indonesia] [abbr.].

APS: American Philatelic Society [abbr.].

ASCAT: L'Association Internationale des Editeurs de Catalogues
de Timbres-Poste et de Publications Philatéliques (International
Association of Postage Stamp Catalogs and Philatelic Publications
Editors) [France] [abbr.].

American Stamp Dealers Association [abbr.].

"As Is" Auction Lot: An auction lot designated as being sold without warranty, with the auction lot not being returnable to the auctioneer for any reason.

ASNP / VSBH: Association Suisse des Négociants en Philatelie
(Swiss Stamp Dealers Association) [Switzerland] [abbr.]

ATM: Russian Stamp Dealers' Association [Russia] [abbr.].

Auction Agent: A representative designated by an Absentee Bidder or a bidder requiring anonymity during an auction (the client), and authorized to represent the client during the public auction bidding procedures

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BDB: Bundesverbandes des Deutschen Briefmarkenhandels (German Philatelic Auctioneers Association) [Germany] [abbr.]

Bid Book: The auction house data base composed of bids submitted by Absentee Bidders on the lots offered at auction, with the Bid Book being maintained manually or by electronic means.

"Bidding Against the Ceiling": see: "Running Up the Bidder".

"Bidding Against the Curtains": see: "Running Up the Bidder".

Bidding Increments: The series of regularly increasing currency intervals called by the auctioneer during the bidding process for a lot.

Bidding Circle: 1. A group composed of two or more participants agreeing either not to bid against each other during a public auction, or to keep bids below a certain pre-agreed amount. 2. Crossing Off [slang].

Bidding Paddle: The card or similar item with an number assigned specifically for the bidder registered with the auctioneer, and used during the auction to denote active participation in the bidding procedures during the sale.

Bid Rigging: see: 1. Bidding Circle. 2. Crossing Off. 3. Shill.

Book Bidder: see: Absentee Bidder.

Book Bid: 1. Bids entrusted by an Absentee Bidder to an auctioneer. 2. Bids to be executed on behalf of an Absentee Bidder during the course of the public auction.

"Bought In" Lot: 1. An auction lot announced by the auctioneer as remaining unsold because the Stated Reserve or Hidden Reserve for the lot was not received by the auctioneer from the Book or floor clientele. 2. an Unsold Lot. 3. a "Returned to the Owner" lot.

BPA: British Philatelic Association (Great Britain) [abbr.]

BPA Certificate: B.P.A. Expertizing Ltd. Certificate (Great Britain) [abbr.]

"Break Tie" Bid: A bid on an auction lot allowing the auctioneer bidding on behalf of an absentee client, or an auction agent bidding for a ckient to increase the bid by one standard increment, if incessary, in the attempt to purchase a lot during the public auction procedures.

Bundesprüfer: see: Expertizer/Expertizing Committee.

Buyer's Fee: see: Buyer's Premium.

Buyer's Premium: 1. The percentage premium added to the Hammer Price of a lot, and retained by the auctioneer as part of the commission for selling the lot. 2. the Buyer's Fee. 3. the "Tip" [slang].

Buy Bid: The practice whereby a bidder instructs an auctioneer or auction agent to purchase a lot regardless of the ultimate Hammer Price. "Buy Bids" are seldom accepted by auctioneers and auction agents, and are normally executed only when a specified bidding agreement is made with the client previous to the sale.

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"Cap": The maximum commission an Auction Agent invoices a client for representation at a public auction [slang].

Catalog Number: 1. A designated number or set of numbers from a standard postage stamp or postal history reference universally identifying a philatelic item. 2. Katalog- nummer [Germany]. 3. Nombre d'Catalogue [France]. 4. Numero Catalogo [Italy]. 5. Numero de Catálogo [Spain].

CNEP: Chambre Syndicale Française des Négociants et Experts
en Philatélie (French Stamp Dealers and Philatelic Expertizers
Association) [France] [abbr.].

Collection Lot: 1. An auction lot comprising of a mounted or unmounted country, topical, etc. collection, which normally is viewed previous to bidding. 2. Briefmarken- sammlung [Germany]. 3. Collection de Timbres-Poste [France]. 4. Collezione Francobolli [Italy]. 5. Colección de Sellos [Spain].

Competent Authority: see: Expertizer/Expertizing Committee.

Condition: 1. The physical state description of a postage stamp or postal history item offered at auction. 2. Erhaltung [Germany]. 3. Condition [France]. 4. Condizione [Italy]. 5. Condición [Spain].

Conditions of Sale: The "Conditions of Sale" or "Terms of Sale" printed in an auction catalog, and which are the legal documentation binding the buyer purchasing at the auction; terms normally are subject to verbal amendment(s) at the time of the auction.

Consignor's Contract: The legal and binding signed document of agreement between the auctioneer and the owner of the philatelic properties being consigned to the auctioneer.

Counterfeit: 1. A postage stamp or postal history item which has been forged, with the quality of the forgery ranging from the easily determinable crude types, to the sophisticated type requiring Expertizing procedures to determine genuinity. 2. Fälschung [Germany]. 3. Contrefait [France]. 4. Contraffatto [Italy]. 5. Falsificación [Spain]

Counterfeit, Postal: 1. A forgery of a contemporary postage stamp produced to defraud a postal administration of the postage used for mailing; very often considered a collectable item for the specialist. 2. Fälschung Postalisch [Germany]. 3. Contrafait Postal [France]. 4. Falso Postale [Italy]. 5. Falsa Postal [Spain].

CPBNTP: Chambre Professionnelle Belge des Négociants en
Timbre-Poste (Belgium Stamp Dealers Association) [Belgium]

Crossing Off: see: Bidding Circle.

CSDA: 1. Canadian Stamp Dealers Association [Canada]. 2. Republic of China Stamp Dealers' Association [Taiwan, Republic of China] [abbr.].


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DFHF: Danmarks Friærkehandlerforening (Danish Stamp Dealers
Association) [Denmark] [abbr.].

Disturbed Gum: 1. The stamp gum condition described when the original gum of an unused postage stamp has been deleteriously affected by one or more handling or mounting procedures, to include heavy hinging, gum glazing from mounts, etc. 2. Gestörengummi [Germany]. 3. Troublé Gomme [France]. 4. Gomma Disturbita [Italy]. 5. Goma Molestarada [Spain].

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Estimated Value: The valuation of a lot based on the auctioneer's or consignor's experiences, and not sourced from any catalog or other standard pricing reference. 2. Suggested Bid. 3. Schätzpreis, Bewertung [Germany]. 4. Évaluation [France]. 5. Valutazione [Italy]. 6. Valor Estimación [Spain].

Expertized: 1. A postage stamp or postal history item which has been opinionated by a Competent Authority as being genuine, and which is accompanied by the expertizer's signature on the item, or by a signed photo certificate. 2. Geprüft, Signiert [Germany]. 3. Expertisé [France]. 4. Firmato [Italy]. 5. Periciado [Spain].

Expertizer/Expertizing Committee: 1. The mutually-agreed upon Competent Authority recognized as being qualified to certify the identification, authenticity, quality attributes and/or other status of philatelic materials purchased at auction. 2. Bundesprüfer [Germany]

Extension: The time period allowed by the auctioneer for certification of lots purchased at auction by an Expertizer/Expertizing Committee.

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"Fair Warning": A phrase utilized by some auctioneers to denote that a lot will hammered down momentarily, and normally used to alert bidders who may have missed a lot of possible interest.

"Fairy Tales": False entries included in published or verbal Prices Realized [slang].

Final Bid Price: see: Hammer Price.

Finders Fees: 1. Payments from an auction house given to individuals providing means and/or arrangements for the selling of philatelic properties by the auctioneer. 2. Introductory Commission (IC) [Great Britain].

FIP: Federation Internationale de Philatelie (International Federation of Philately) [Switzerland] [abbr.].

FNCFI: Federazione Nazionale Commercianti Filatelici Italiani
(Italian Federation of Philatelic Dealers) [Italy] [abbr.].

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Geprüft: Expertized [Germany]

"Ghost Bidder": see: "Running Up the Bidder".

GPS: German Philatelic Society (USA) [abbr.].

GPS Certificate: German Philatelic Society Certificate [abbr.].

GSDA: Greek Stamp Dealers Association [Greece] [abbr.].

Guarantee Mark: 1. A marking normally attributed to a recognized Competent Authority expertizer or expertizing committee applied to the reverse of a postage stamp, or the front and/or reverse of a cover, to assign a genuinity status to the item; the marking may be in form of pencilled initials or a name, or a small, non-obtrusive, inked handstamp which is not visible on the face of a postage stamp (Note: A Guarantee Mark is not to be confused with an "Owner’s Mark", which is a similar format marking applied by the item’s owner to brand the property as belonging to them). 2. Garantiezeichen [Germany]. 3. Signe d’Garantie [France]. 4. Segno di Garanzia [Italy]. 5. Marca de Garantia [Spain].

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Hammer Price: 1. The final bid acknowledged and accepted by the auctioneer as the winning high bid successfully purchasing the lot being offered at auction. 2. the Final Bid Price. 3. the Knockdown Price.

Hidden Reserve: 1. The non-stated minimum price the seller of the lot will accept, with bids received below the Hidden Reserve deemed as being unacceptable. 2. the Non-Stated Reserve.

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IFSDA: 1. The International Federation of Stamp Dealers'
Associations. 2. Des Internationalen Dachverbands de
Briefmarkenhändlerverbände [Germany]. 3. La Fédération
Internationale des Chambres Syndicales des Négociants
en Timbre-Poste [France]. 4. La Federación Internacional
de Asociaciones de Filatélicos [Spain, Latin America] [abbr.].

Introductory Commission (IC): [Great Britain] see: Finders Fee.

IPTA: Irish Philatelic Traders' Association [Ireland] [abbr.].

ISDA: 1. Israel Stamp Dealers' Association [Israel]. 2. Indian
Stamp Dealers' Association [India] [abbr.].

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JSDA: Japanese Stamp Dealers’ Association (Japan) [abbr.].

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Knockdown Price: see: Hammer Price.

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Limit Bids: The maximum amount of money an absentee bidder is willing to spend at any one specific auction.

Lot: The philatelic property offered as an individual entity, and numbered as such in the auction catalog.

Lot Description: The auctioneer's identification of the material being offered at auction.

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MEPSI: Mexico Elmhurst Philatelic Society International (USA) [abbr.].

MEPSI Certificate: Mexico Elmhurst Philatelic Society International Certificate [abbr.].

Mi.: Michel Postage Stamp Catalog (Germany) [abbr.].

Minimum Bid: 1. The auction catalog stated minimum price the auctioneer will accept for the lot. 2. the Starting Bid.

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NFHF: Norsk Frimerkehandler Forening (Norwegian Stamp Dealers
Association) [Norway] [abbr.].

Non-Stated Reserve: see: Hidden Reserve.

NVPH: Nederlandsche Vereeniging van Postzegelhandelaren (Netherlands Stamp Dealers Association)[Netherlands].

NZSDA: New Zealand Stamp Dealers' Association [New Zealand] [abbr.].

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ÖBMH: Österreichischer Briefmarken- und Münzen- Händlerverband
(Austrian Stamp and Coin Dealers Association) [Austria] [abbr.].

Opening Price: 1. The beginning selling price of the lot as announced by the auctioneer indicating the price at which the bidding commences. The Opening Price can represent a bid one increment over the second highest Book Bid, the highest Book Bid, or the Reserve Price for the lot. 2. Ausgebot, Angebot [Germany]. 3. Enchére, Début [France]. 4. Offerta Iniziale [Italy]. 5. Oferta Inicial [Spain].

Opinion: see: Expertizer/Expertizing Committee.

Order Bidder: see: Absentee Bidder.

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P, PH, Photo: Standard auction catalog abbreviations indicating that a lot or a portion of a lot has been illustrated.

Paddle: see: Bidding Paddle.

"Paralysis of the Arm" Bidding: 1. The floor bidding procedure whereby the participant denotes the intention of bidding by raising the bidding paddle, or equivalent, throughout the bidding process, without lowering the instrument during the calling of the bidding increments. 2. "Statue of Liberty" bidding [slang].

Pass: The auctioneer's terminology designating that a lot has been hammered down, but that the lot remains unsold because the final bid did not reach the Hidden Reserve.

PF: Philatelic Foundation (New York) [abbr.].

PFC: Philatelic Foundation Certificate [abbr.].

Price on Request (POR): 1. Rarely used in the U.S.A., the terminology stated in an auction catalog when designating that a lot' s value is sourced by contacting the auctioneer for the estimated price. 2. Preis auf Anfrage [Germany]. 3. Prix sur Demande [France]. 4. Prezzo a Richiestra [Italy]. 5. Precio sobre Demanda [Spain].

Prices Realized: A published listing of the prices realized on individual lots sold during an auction, usually designated as being either the Hammer Price amount, or the Hammer Price + Buyer's Premium amount.

Provenance: 1. The origin and/or previous owner(s) of the philatelic material being offered at auction, usually attributing ownership to a prestigious collector or institution. 2. the designation for this type of philatelic material (ex-Ishikawa, ex-Farouk Collection, etc.).

PSE: Professional Stamp Experts (Miami, FL, U.S.A.) [abbr.].

PSE Certificate: Professional Stamp Experts Certificate [abbr.].

PTD: Pul Tuccarlari Dernegi (Turkish Stamp Dealers Association)
[Turkey] [abbr.].

PTS: Philatelic Traders Society (U.K.) [abbr.].

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Reserve Price: 1. The catalog stated or non-stated minimum price acceptable by the auctioneer or the owner of the lot. 2. the Stated Reserve. 3. the Hidden Reserve.

"Returned to the Owner" Lot: see: "Bought In" Lot.

RPSL: Royal Philatelic Society, London, London (Great Britain) [abbr.].

RPSL Certificate: Royal Philatelic Society, London, Certificate [abbr.].

"Running Up the Bidder": 1. The practice designed to artificially create higher realizations for an auction lot by "accepting" bids from non-existent bidders. 2. "Bidding Against the Ceiling" [slang]. 3. "Bidding Against the Curtains" [slang]. 4. bidding against a "Ghost Bidder" [slang].

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SAPDA/SAFHA : South African Philatelic Dealers' Association
(Republic of South Africa) [abbr.].

Sc.: Scott Postage Stamp Catalogue (USA) [abbr.].

Schätzpreis: see: Estimated Value.

Seller's Commission: The percentage or other pre-determined commission deducted from the Hammer Price of the lot, and retained by the auctioneer as part of the commission for selling the lot.

SFHF: Sveriges Frimärkshandlareförbund (Swedish Stamp Dealers
Association) [Sweden] [abbr.].

SG: Stanley Gibbons Stamp Catalogue (Great Britain) [abbr.].

Shill: A person employed by or representing an unscrupulous auctioneer or owner of the items being offered at public auction, and who creates artificially higher prices for lots sold at public sales.

SOCOFIRA: Sociedad de Comerciantes Filatélicos de la
República Argentina (Argentina Stamp Dealers Society)
[Argentina] [abbr.].

Sold to the Book: 1. The auctioneer's terminology designating that a lot has been hammered down to an Absentee Bidder represented by the auctioneer. 2. Sold to the Order.

Sold to the Order: see: Sold to the Book.

SPKL: Suomen Postimerkkikauppiaiden Liito RY (Finland Stamp
Dealers Association) [Finland] [abbr.].

Spotter(s): Personnel employed by the auctioneer to monitor the public auction floor bidders, and to point out to the auctioneer any active bidder who may have been overlooked by the auctioneer.

Starting Bid: see: Minimum Bid.

"Statue of Liberty" Bidding: see: "Paralysis of the Arm" Bidding [slang].

Suggested Bid: see: Estimated Value.

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Tie Bid(s): One or more identical high bids received for the same lot offered at auction

Terms of Sale: see: Conditions of Sale.

The "Tip": see: Buyer's Premium.

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Unreserved Auction: An auction without Hidden Reserves or Stated Reserves selling lots for whatever is offered by the bidders.

Unsold Lot: see: "Bought In" Lot.

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VAT (Value Added Tax): The tax payable on the Hammer Price + the Buyer's Premium for auction lots purchased from auctioneers resident within the countries being members of the European Union (EU). VAT is not payable for lots delivered to addresses outside of the EU community.

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Withdrawn Lot: An auction lot removed from the sale for reasons that could include, but are not limited to, the following reasons: misdescription or misidentification, the lot having been lost or misplaced, or the lot not having realized the reserve price.

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Y&T, Yv.: Catalogue Yvert et Tellier (France) [abbr.].

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