July 23, 2007

Tea auctions

The first auction dedicated to tea took place in craven House, which became known as 'East India House'. These auctions were held quarterly and held under a system known as "Sold by the candle", where by a candle was marked off in inches it was lit when the bidding began, the hammer was bought down as the first inch line was reached and so on down the candle for each lot

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