Participants are urged to read carefully the following explanation of the conditions of sale, which contain the terms on which L. H. Selman Ltd. conducts auctions. L. H. Selman Ltd. reserves the right to refuse any and all bids.

This is primarily a mail/phone auction. To place a bid by mail, fill out the form and return by mail it as soon as possible. Bids may also be placed by telephone, fax, email or on the web at http://www.lhselmanltd.com/auc27/bid.html. In the case of tie bids, the earliest bid received will be the winner. Bids may be raised until the lot is declared closed.

Bids must be made in the following increments:
Up to $200: $10
$200 to $500: $25
$500 to $1,000: $50
$1,000 to $2,000: $100
$2,000 to $5,000: $250
$5,000 to $10,000: $500
$10,000 and over: $1,000

After the last day to place initial bids, we expect bidders to contact us daily, via phone, fax, email or web, to check on the status of their bids. If you fail to contact us, you may be relinquishing your opportunity to raise your bid. Help us complete the auction in a timely fashion by informing us which lots you wish to drop.

All initial bids must be in hand by 5 pm Pacific time on August 16, 2002. Bidding will continue until the winner of each lot is determined. All lots will be sold at one increment over the second highest bidder. L. H. Selman Ltd. has absolute discretion to settle any disputes. Successful bidders will be invoiced for the total amount due at the auction's close. Unsuccessful bidders will not be contacted.

Successful bidders must pay a 10% commission on the hammer price of each item, plus applicable tax and shipping fees. Shipping will be billed at cost, plus handling and insurance. Items will be shipped to domestic buyers via FedEx two-day air unless otherwise specified by the buyer, and to overseas buyers by air mail. The buyer will be charged for any increased costs in shipping, including postage, handling and insurance.

Payment is due on receipt of invoice; after 15 days a 2% per month penalty on monies owed will be charged. All checks must be drawn on U. S. banks. If payment is made by credit card, a surcharge will appear on the invoice at the following rates: American Express, 5%; VISA, MasterCard or Discover, 3%. Purchases will not be shipped to the buyer until the full price has been paid.

Return Policy
Upon the close of each lot, purchase is understood to be final. The buyer must notify L. H. Selman Ltd. of any discrepancy within 48 hours of receipt. All items have been carefully selected and described, but if you feel a lot has been misrepresented, requests for return will be handled on an individual basis. Returned merchandise will not be accepted without prior approval. In no event will L. H. Selman Ltd. incur liability beyond the purchase price of an individual lot.

Guarantee
All lots are sold on an "as is" basis. L. H. Selman Ltd. makes every effort to describe each lot with complete accuracy and accepts responsibility for the authenticity of the items offered for auction. Photographs are provided for the guidance of the buyer. If you have any questions, please call L. H. Selman Ltd.

Estimates
Estimates provided re?ect current trends. Use them as a guideline when placing your bids.

Reserves
A reserve is a confidential minimum price below which a lot generally will not be sold. In some cases L. H. Selman Ltd. has agreed with the consignor to accept a reserve. L. H. Selman Ltd. reserves the right to place bids on behalf of the consignor up to the amount of the reserve. Bids below reserve may be considered null at the sole discretion of L. H. Selman Ltd. In this event, the consignor has the right to recover consigned lots which do not reach the minimum price reserved.

Exhibition
The items will be available for inspection at 123 Locust Street, Santa Cruz, California, by appointment only (800 538-0766, 831 427-1177). No appointments will be made for the closing day of the auction.