METHODS OP SELLING AND BUYING FISH. 93 



For a 1st class trawler (a new boat and until 10 years old) the 



policy is for £300 



For a 2nd class trawler (from 10 to 15 years old) . . . 250 



For a 3rd class trawler (from 15 to 20 years old) . . . 200 



and there may be a further reduction for a boat more than 

 twenty years old. 



The exact times when the club determines to reduce its 

 liability on any vessel, depends upon the committee of the 

 club, who examine the vessels from time to time and class 

 them in accordance with their age and condition. 



Brixham. — At Brixham the trawlers can insure for total 

 and for partial loss. 



6. The Insurance of Drifters and HooTiers. 



Insurance. — The insurance of these boats is on a much 

 smaller scale. The maximum amount of a policy is £60, 

 and the subscription 15s, a year. The club is managed in 

 the same way as tbe trawlers' insurance club, the committee 

 having power to determine the value of the policy any boat 

 may take out. The maximum amount for which these boats 

 may be insured is so small that several owners of the best 

 boats will not insure their vessels. 



The club, however, is in a flourishing condition. 



7. Methods of Selling and Buying Fish. 



Auction. — Fishermen place their catch in the hands of 

 fish salesmen, who sell it, by auction, either to fish hawkers, 

 local fishmongers, or fish buyers for London and other 

 markets. 



The auctions are of two kinds ; either the lot is handed 

 over to the highest bidder as in ordinary auction transac- 

 tions; or, the lot to be sold is put up at a fancy price, the 

 auctioneer reducing it until he reaches a figure which is 

 accepted. This latter method is called '' Dutch auction " 

 and is very general on the east coast. 



Commission. — The fish salesman charges 5 per cent, com- 

 mission and guarantees the debt to the fishermen. 



Discount. — All buyers of fish of a value of 20*. or more 

 are allowed a discount of 2| per cent, by the salesman, who 

 thus makes 2| per cent, on the amount he sells. 



