J 50 SALE OF \YOOL) 



land, &c., whilst Dutch auctions for forest produce prevail in 

 France, Belgium, Holland, Alsace and Lorraine. 



Dutch auctions for forest produce are generally emploj-cd only 

 in the case of valuable timber sold in large lots, and when 

 only a few of the purchasers present are men of means ; they 

 arc preferred in Alsace. Wherever wood is sold in small lots to 

 a number of small purchasers, such a method would be out of 

 place for the following reasons, it takes much more time than 

 when purchasers outbid one another ; where there are a largo 

 number of purchasers assembled, only a few of them will have 

 the requisite presence of mind to make a bid at the right moment ; 

 customary usage ma}' be against this mode of sale. 



[Dutch auctions are preferred in France in the sale of standing 

 trees in the principal fellings, l)ccause there are a body of large 

 contractors, termed adjudicataires, who make it their business t<> 

 ])urchase the marked trees standing on a felling-area, and convert 

 and remove them for sale to smaller dealers or industrial enterprises. 

 These men visit every felling-area within their beat, measure and 

 estimate the value of every marked tree ; they know exactly what 

 amount they can afford to pay for the trees and bid accordingly. 

 French foresters consider that Dutch auctions prevent the purchasers 

 from agreeing not to out-bid one another ; a purchaser cannot know 

 beforehand at what figure any other purchaser will buy, and there- 

 fore dare not delay too long in his offer to purchase, fearing lest the 

 lot should fall to another person. In France the felling-areas are 

 subdivided into small lots, which are marked out on the ground ; no 

 lot should exceed 10,000 francs, £400, in value.— Th.] 



/3. Proccdt(re iit Auctidii-Salcs of ]]'(>od. 



When once the mode of disposal of the produce of a felling 

 has been decided, the produce which is to be auctioned 

 should be carefully valued without loss of time. The date of 

 the auction should then be fixed, and this, as well as the place 

 where the auction will he held, and the list of material to be sold, 

 should be publicly advertised. The procedure of the auction 

 itself begins by an announcement of the conditions of sale 

 made to protect the seller against injury or loss, the lots are 

 then put-up successively at the fixed upset-price, and knocked 

 down to the highest bidder ; the highest bid is therefore the 



