Here's how the stamp auction places handle it. Expertising is a notch down from grading in most cases, but recently they have begun including grades for an extra fee. This policy is from Apfelbaum, but most of the auction places use a similar policy.
The short of it is - They refund purchase price only, and have to be informed in writing before the auction that it will be sent of for expertising.
EACH LOT IS SOLD AS GENUINE BUT WHEN IN THE OPINION OF ANY COMPETENT AUTHORITY MUTUALLY ACCEPTABLE TO US AND THE PURCHASER (A "MUTUALLY ACCEPTED AUTHORITY”) THE LOT IS DECLARED OTHERWISE, THE PURCHASE PRICE WILL BE REFUNDED IN FULL; PROVIDED, HOWEVER, THAT ADVANCE WRITTEN NOTICE OF INTENTION TO SEND FOR EXPERTIZATION MUST BE SUBMITTED BY BUYER BEFORE THE SALE AND EITHER (i) THE LOT IS RECEIVED BY US WITHIN A PERIOD OF FOUR WEEKS AFTER THE DATE OF THE AUCTION, OR (ii) WHERE AN OPINION IS NOT EXPECTED WITHIN FOUR WEEKS, WRITTEN NOTIFICATION THAT THE LOT HAS BEEN SUBMITTED FOR AN OPINION IS RECEIVED BY US WITHIN THIS PERIOD. ALL EXPENSES INCURRED SHALL BE BORNE BY THE PURCHASER WHETHER OR NOT THE ITEM IS DECLARED GENUINE OR NOT GENUINE OR NOT AS DESCRIBED.
Steve
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