Rules

BIDDER REGISTRATION: In order to bid in this auction, you need to have a bidder I.D. You may obtain a bidder I.D. by calling (631) 288-7800 ext. 223 during our regular business hours. You will be asked to give two hobby references at the time of your registration. If you cannot supply these references, Grey Flannel Auctions may ask you questions regarding your credit and you will be required to provide a valid credit card number. You will need to register only once, and this will give you a permanent bidder I.D. for Grey Flannel Auctions. Please call to register before 6:00 p.m. EST December 9, 2009. After this time, we will register no more bidders, with no exceptions. If calling for premier bidder status, please call no later than 5PM on Monday, December 7, 2009. Placing a bid constitutes acceptance of Grey Flannel Auctions’ rules and Grey Flannel Auctions has the final say in interpreting all rules.

SUBMITTING BIDS: Bidding begins immediately by phone and online. We are interactive online at www.GreyFlannelAuctions.com for this auction. Please check our web site for instructions. No e-mail or fax bids will be accepted. No lot will be closed until the entire auction is over. Please do not ask for an exception to these rules.

9PM RULE: The auction will close for initial bidders at 9PM EST on December 9, 2009. If you have not placed a bid on an open lot prior to 9pm ET you will be ineligible to bid on said lot after 9pm. However, any unopened lot can be bid on after 9pm. If you are the only bidder on a lot after 9pm, you will instantly become the winning bidder. Grey Flannel Auctions reserves the right to extend this rule for any reason. For ongoing lots after 9pm ET the 10-minute rule will be applied, meaning the auction will not end until bidding stops for the entire auction for 10 minutes. The entire auction will close simultaneously, not one lot at a time.

MINIMUM BID INCREASE: 10% minimum increase, in whole dollar amounts. There will be no exceptions. Please see Ceiling Bids.

BUYER’S PREMIUM: All winning bids will have a 20% buyer’s premium added to the final hammer price. (Example: Your final bid is $1,000. A $200 buyer’s premium will be added to your final bid.) All bidders must pay buyer’s premiums; no exceptions.

SALES TAX: All State of New York residents will pay sales tax. Since each county is different, the appropriate tax will be included in your final invoice. New York State dealers: if you have a resale number, please make sure that we have it on file or you will pay sales tax.

UP TO BIDS: Maximum bids are simply the highest dollar amount that you would empower Grey Flannel Auctions to bid on your behalf for a particular lot. Grey Flannel Auctions strongly encourages you as the bidder to place ceiling bids. This is the easiest and most efficient way to ensure that you get the best possible chance to win your desired auction lot. Ceiling bids are kept in the strictest confidence. First, to place a ceiling bid, it needs to be a minimum of 21% higher than the high bid, which must be your last bid. (Example: Your new bid is $1,000, and the minimum ceiling bid that can be placed is therefore $1,210). Also, Grey Flannel Auctions reserves the right to raise your ceiling bid by a maximum of 10%. (Example: Your ceiling bid is $1,000 and the current bid is $950; we will raise your ceiling bid to $1,045). This ensures that no ceiling bidder will be outbid by less than 10%. If the same ceiling bid is placed on a lot by two or more bidders, the bidder who placed the ceiling bid first will have first priority to that bid amount.

INVOICES/NOTIFICATION: Invoices will be mailed and emailed to all winning bidders in the days following the conclusion of the auction. Payment is expected upon receipt of the invoice date. Please do not call to see if you won a particular lot. Auction results will be posted on our web site (www.GreyFlannelAuctions.com) soon after the conclusion of the auction. The prices posted will include the 20% buyer’s premium.

DISCLAIMER: Grey Flannel Auctions is not responsible for computer or human error which may result in any customer dissatisfaction. The stock lots in this auction are: 6, 7, 8, 10, 12, 13, 17, 19, 25, 26, 27, 28, 33, 36, 37, 39, 40, 41, 43, 44, 57, 59, 62, 65, 66, 90, 91, 108, 109, 111, 112, 134, 136, 137, 138, 140, 148, 157, 166, 167, 170, 172, 173, 187, 188, 189, 191, 192, 193, 194, 196, 197, 201, 203, 207, 213, 228, 235, 240, 241, 243, 253, 256, 257, 273, 275, 276, 291, 293, 298, 299, 301, 302, 303, 306, 307, 315, 315, 317, 319, 320, 321, 327, 328, 335, 336, 337, 341, 343, 350, 351, 352, 353, 359, 360, 361, 364, 365, 368, 370, 379, 381, 385, 386, 387, 389, 391, 399, 440, 441, 443, 444, 447, 448, 450, 451, 452, 453, 454, 456, 460, 463, 464, 481, 482, 484, 485, 486, 488, 492, 493, 494, 501, 504, 505, 506, 507, 509, 510, 524, 528, 545, 557, 558, 568, 592, 628, 630, 644, 669, 690, 693, 713, 714, 718, 720, 724, 738, 762, 778, 779, 783, 836, 846, 867, 870. The Interest lots in this auction are: 16, 20, 22, 23, 86, 103, 110, 160, 161, 165, 202, 205, 229, 230, 232, 233, 234, 236, 238, 239, 246, 247, 248, 250, 251, 252, 260, 261, 263, 269, 271, 278, 280, 281, 283, 284, 285, 292, 294, 297, 300, 324, 325, 326, 349, 363, 366, 371, 372, 373, 400, 582, 639, 698, 725, 727, 728, 740, 742, 747, 749, 751, 753, 754, 755, 756, 764, 765, 766, 782, 784, 787, 833, 835, 849, 851, 854, 859, 862, 868.The implied warrantee’s on our LOA’s are only in force for the original purchaser from this auction. We reserve the right to accept or reject any and all bids or bidders.

INVOICES/NOTIFICATION: Invoices will be emailed and mailed to all winning bidders in the days following the conclusion of the auction. Payment is expected immediately upon receipt of the invoice date. Please do not call to see if you won a particular lot. Auction results will be posted on our web site (www.GreyFlannelAuctions.com) at the conclusion of the auction. The prices realized posted on our web site will include the buyer’s premium.

PAYMENTS: Cashier’s check, money order, or bank transfers are the preferred methods of payment. These payment methods will allow us to process your items as quickly as possible. Payment by personal or company check will be held for a minimum of 10 business days to clear without exception, please do not ask. Your check may have cleared your bank but our bank will not guarantee good funds for ten business days from when it was deposited. No special payment arrangements are available without previous approval by our credit department. Grey Flannel Auctions DOES NOT accept credit cards as form of payment.

CALL BACK SERVICE (PREMIER LOTS): Grey Flannel Auctions will provide a Call Back Service for this auction’s Premier Lots only. In order to receive this service, you must bid on that item prior to 9:00 p.m. on December 9, 2009 and request the Call Back service at that time. There is no Call Back Service on non-Premier lots. We strongly recommend that those bidders (of non-Premier Lots) place ceiling bids and check our web site for the current high bids.

SHIPPING: The buyer is responsible for all shipping and insurance costs. Most lots will be shipped via FedEx or the USPS with signature confirmation. This cost will be reflected on your auction invoice. If you need expedited shipping, please call when you receive your invoice so we can make the appropriate shipping adjustments. All international orders will be processed in the full invoice amount, no exceptions. The buyer is responsible for all duty and customs charges. Grey Flannel is not in business to make money on our shipping costs. That being said, many of the lots in this auction, due to their size, weight and/or fragility will be expensive to ship and will require additional packaging and/or freight costs. The buyer will be responsible for all of these additional fees and insurance. Grey Flannel uses an outside shipping/packing company for these items. Our outside vendor sets the prices, so you pay us what we pay him. The charges are not based on a percentage of your winning items but based on the specific items dimensions, weight and distance it needs to be shipped. If the item is too large for FedEx, it will need to be shipped via a freight carrier and may require crating. We strongly encourage the winning bidders of these lots to pick up their items in person. They are located at a storage facility in Westhampton, NY. We realize that this may not be possible for everyone so please call 631-288-7800 x221 before placing your bids and inquire about an approximate shipping quote. Our goal is to get your winnings to you in one piece, safely.

RETURN POLICY: ALL LOTS ARE SOLD AS IS. ALL SALES ARE FINAL. Each and every lot in this auction has been viewed by a minimum of two hobby experts. Many of our auction items are already framed. Without removing the frame, it is impossible to know the condition of the areas not seen. Therefore, Grey Flannel Auctions does not assume responsibility for the condition of areas hidden by the framing or matting on these specific item(s). For this reason, our catalog descriptions on these auction items are written extremely carefully, paying acute attention to detail. Please refer to our introductory letter on Page 4.

VIEWING OF LOTS: Lots can be viewed at the Grey Flannel Auctions showroom, located at 13 Buttercup Lane in Westhampton, New York, during regular business hours. We strongly recommend that you make an appointment at least two days in advance. There will be no appointments taken on the actual auction day.

PREMIER LOTS: Grey Flannel Auction’s Premier Lots for December 9th, 2009 Holiday Auction are listed below and are also identified by the wording “PREMIER LOT” as well as by the logo. You must be registered in advance with our credit department before bidding on these items. Our credit department must be satisfied with the bidder’s ability to pay. Once approval to bid is granted, you may bid on any Premier Lot up to the amount of your approved line of credit.