I have seen many Sailor Moon cels that don't have
registration holes or numbers.
It is possible that the cel was cut from a larger one
by either the studio or the original dealer that had
the cel, because there was a lot of empty space and
for some reason they thaught that it was unappealing
this way.
Another reason I have found that there are no registration
numbers on some cels is because on occasion tape is applied
to the cel to hold it in place and sometimes when that
tape is removed, it will take the numbers with it! This
happened to me when I tried to remove some tape and a
carelessly placed price tag.
My suggestion is that if the price is good on the cel, you
should buy it, but if it's too good to be true, weeeelll...
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