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1. Philatino is an interactive website where qualified third parties (professional stamp dealers) offer their best material to be sold at auction.

2. The auction lots will be sold:
a) At the starting bid, when there is only one bid (whichever the amount).
b) If there are two or more bids, the lot will be sold to the highest bidder, at the price that results from adding 10% to the next highest bid (rounding up to the next whole number). For example, if there are several bids for a lot with a starting price of $100, and the two top bids are $200 and $150, the lot will be sold to the bidder that submitted $200, and the selling price will be $165.
c) In the event of two identical high bids, the lot will be sold at that price to the bidder who submitted the first received.
d) In the event of several bids, each new bid must advance 10% over the next highest bid in competition to be successful.

IT IS IMPORTANT to bear in mind that if a bidder submits a very high bid for a lot, that will not necessarily be the successful selling price, a value which can result to be the starting bid or one much lower than that bidded, depending on the ongoing bidding process.

Examples:
- Lot with a starting bid of 100, and only one bid of 500: selling price 100.
- Lot with a starting bid of 100, and bids A of 100, bid B of 500: sold to B at 110.
- Lot with a starting bid of 100, and bids A of 100, B of 500, C of 300: sold to B at 330.
- Lot with a starting bid of 100, and bids A of 100, B of 500, C of 500: sold to B at 500.
- Lot with a starting bid of 100, and bids A of 100, B of 500, C of 600: sold to C at 550.
- Lot with a starting bid of 100, and bids A of 100, B of 500, C of 520: sold to B at 500, and the system gives C the chance to bid 550, and if he does he will be awarded the lot (if no other bids are received) at 550.
- Lot with a starting bid of 100, and bids A of 112, B of 200: sold to B at 124 (the exact amount would be 123.20, but it is rounded up to 124).

3. No bids can be withdrawn under no circumstances and for no reason. Therefore take good care to click on the "Submit" button only when you are certain you did not enter a wrong amount or are not bidding on the wrong lot. Remember that you are agreeing to honor all your bids, even those made by mistake.

4. The bidder agrees to honor all his commitments in full and in a timely manner. Failure to comply with this condition will cause the immediate suspension of his membership privileges, and no further bids will be taken into consideration in the auctions in our site. Also the conduct of the defaulting member may be reported to the rest of the sellers or philatelic associations.

5. Privacy policy: the personal information that you submit to our site will be kept strictly confidential, and will be only provided to sellers for delivery purposes.

6. Philatino may supervise the description, the authenticity and the fairness of every listed item. However, it is not responsible for third parties procedures. In the event of a dispute (when parties do not reach an agreement), Philatino will arbitrate. If you have a problem with a seller, Philatino may cover you (up to USD500) with dealers' funds it has on file.

7. Philatino will keep all bids and bidders confidential; they will not be revealed to any member or seller under no circumstances and for no reason. In fact, our bidding software does not make available any information in this regard even to Philatino operators.

8. Philatino wants to give bidders the best possible service and works towards delivering a satisfying user experience. To fulfill this purpose, we need information about every problem you may have with a specific seller. Philatino will report the seller's feedback and sales history in order to help the bidder decide whether to bid with a specific seller (although Philatino had already made a strict selection among sellers' membership requests).

9. When a lot is won, the buyer will receive a detailed invoice that must be settled within 4 days upon receipt of the invoice in the manner indicated by each seller in his "Profile" (personal check, bank draft, credit cards, etc.). Non-payments can cause cancellation of the transaction and, at the seller's convenience, the item may be resold.

10. "No questions asked" returns will be accepted if made within 4 days upon receipt of item, and the seller must make a cash refund in a timely manner, unless otherwise stated in the dealer's profile.

11. A buyer's premium equal to 10% of the successful bid price of each lot is payable by the buyer as part of the total purchase price.

12. For purchases made in AR$, the price will be valid for 10 calendar days from the date of purchase. If the Buyer cannot make the payment within that period or needs a line of credit, he should contact us at philatino@philatino.com.

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