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1. Any illustrations or statements in the catalogue are only for reference of prospective buyers and are not to be relied upon in terms of color, quality, or imperfections. Prospective buyers shall examine carefully each object before bidding. The purchase of a Lot shall be at the buyer’s own risk.

2. According to the cultural relics protection law of the people's Republic of China, the lots marked with * in the catalogue cannot be exported.

In the payment of any purchase made by the Buyer during the China Guardian 2014 Spring Auctions (for Stamps and Coins lots) before and up to and including the 9th of June 2014, the commission of the Buyer will be charged 13.5% of the Hammer Price, and from the 10th of June and up to and including the 24th of June, the commission of the Buyer will be charged 14% of the Hammer Price. This preferential policy will terminate on the 25th of June. Any deduction between the Buyer’s payment and the Seller’s payment shall not apply to this preferential policy. The Buyer may not collect the Lot without full payment.

Please note the following information regarding the sale of Stamps and Covers for China Guardian’s 2014 Spring Auctions:

1. Lot 2124 estimated price should be RMB 10,000-12,000.

2. Lot 2420 estimated price should be RMB 50,000-80,000.

3. Lot 2422 estimated price should be RMB 20,000-30,000.

2014.05.25