296 SALE AND TRANSPORT OF PRODUCE 



It is said that a "Dutch" auction prevents a ring being 

 successful. To some extent this may be so ; because, if there 

 be a single buyer outside the ring, a bid from him will 

 secure the timber, and he cannot be " squeezed " out of that 

 particular lot. Another disadvantage of an auction sale is 

 that the expenses are very great ; so that, if only a small 

 quantity of timber is for sale, it is quite out of the question, 

 for the cost of advertising alone would be prohibitive. And 

 then again, the timber must be sold to the highest bidder, 

 even though his presence on the estate may be undesirable. 

 The auctioneer is bound to accept the offer of the highest 

 bidder, unless, indeed, the owner reserves the right to bid, 

 and buys the timber in. But such a course is usually 

 disastrous. Another disadvantage is the fact that there is 

 often considerable delay in getting the timber removed ; for 

 the auctioneer, who is responsible for the money, will not, 

 very properly, take the least risk ; and thus, in the case of 

 buyers whose financial position is somewhat doubtful, there 

 is often much delay ; whereas, had the timber been sold by 

 tender or private contract, the offer of such a buyer would not 

 have been accepted. 



Sale by Tender. By this method, the almost universal 

 plan is to sell the timber for a lump sum, either standing or 

 felled. The sale may be made quite public by advertising, etc. ; 

 or tenders may be invited from (say) 6 or 10 likely purchasers. 



The timber is sold either as a single lot, or it is divided 

 into several lots. Any considerable quantity should always 

 be divided up, as explained hereafter. It is the usual 

 practice to prepare a printed form of tender, in which are 

 given all particulars as to the number of trees and lots, and 

 also the conditions of sale ; and a day should be specified 

 by which the tenders are to be delivered. 



In some parts of the country, a room is hired in the nearest 

 town and the tenders are handed in by the merchants them- 

 selves, to the agent, and opened by the latter in their 

 presence. 



This method, however, is to be deprecated as it renders 

 the formation of a ring an easier matter than it is even at 



